Iowa Finance Authority FirstHome Program

Iowa Finance Authority

Available Down Payment

About This Program

Provides down payment and closing cost assistance for first-time homebuyers in Iowa. Combined with below-market interest rate mortgage loan. Income limits apply based on household size and county.

Down payment assistance is forgivable after 5 years of owner occupancy

Data last verified 2026-06-09. How we verify our data.

Key Details

  • Up to $15,000 for down payment and closing costs
  • Must be first-time homebuyer or not owned home in 3 years
  • Income limits: $109,560 for 1-2 persons, $126,280 for 3+ persons (Polk County)
  • Forgivable loan after 5 years of occupancy
  • Must complete homebuyer education course

How to Apply

A grant-savvy contractor in Johnston, IA can handle the paperwork, inspections, and timelines so your funding releases on schedule. Getting matched is free.

Deadline: Rolling, subject to funding availability

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