You have plenty to worry about when buying a home. The Iowa Finance Authority is happy to take some of that off your hands. When you use one of our down payment programs in conjunction with our mortgage programs, home-buying is affordable and easy.
The FirstHome program can either give you:
A down payment assistance grant OR a 2nd Loan program loan, not both.
Please note: You cannot combine FirstHome down payment options with Homes for Iowans down payment options.
The Homes for Iowans program gives you the option of getting a:
Grant to assist with down payments OR a loan from the 2nd Loan program, not both.
Please note: You cannot combine Homes for Iowans down payment options with FirstHome down payment options.
The Military Homeownership Assistance program provides a $5,000 grant to eligible service members and veterans for down payments and closing costs on qualifying homes. The funds may be used in conjunction with the FirstHome and Homes for Iowans programs.Program Details
This down payment assistance can be combined with IFA’s other programs. Additionally, the Mortgage Credit Certificate can credit you up to $2,000 per year.
Here is an example of how you can combine IFA programs.
This example outlines someone who qualifies for the Military Homeownership Assistance and 2nd Loan opportunity.