Close Search

HOME Program

Helping Iowans Find Home

The US Department of Housing and Urban Development (HUD) annually provides funding to states and localities to advance affordable housing priorities.

The Iowa Finance Authority administers the State of Iowa’s HOME allocation and awards funds through a competitive application process to assist communities with a wide-range of affordable housing initiatives, including:

  • Homebuyer Assistance

    Allows nonprofit entities to give an extra boost to homebuyers through down payment and rehabilitation assistance.

  • Tenant-Based Rental Assistance (TBRA)

    Allows nonprofit and local government entities to assist many Iowa families to afford their rental home, with a little help.

  • Rental Assistance

    Provides property owners and developers with funds to develop and preserve affordable rental housing for Iowans.

Homebuyer Assistance

The Homebuyer Assistance Program allows nonprofit entities to give an extra boost to homebuyers through down payment and rehabilitation assistance.

Eligibility Requirements

  • Types of Assistance
    • Down payment or closing cost assistance.
    • Acquisition and rehabilitation assistance for a home after it has been purchased.
  • Income

    The homebuyer must have a gross annual income that does not exceed 80% of the Area Median Income, as established by HUD.

Application Process

  • For homebuyers

    The Iowa Finance Authority works with local partners to provide assistance to homebuyers. Interested homebuyers should contact one of our partner agencies for information on the application process.

  • For housing organizations applying for funds

    The application period for the HOME Round is closed.

Tenant-Based Rental Assistance (TBRA)

The Tenant-Based Rental Assistance Program allows nonprofit and local government entities to assist many Iowa families to afford their rental home, with a little help.

Assistance types include monthly rental assistance payment, upfront security deposit assistance, and utility deposit assistance.

All funds are paid directly to the landlord or utility provider on behalf of the tenants.

Eligibility

  • Income

    The home buyer must have a gross annual income that does not exceed 80% of the Area Median Income, as established by HUD.

  • Amount of Assistance

    The amount of rent subsidy varies by household and is dependent upon factors such as the household income and the rental unit.

Application Process

  • For Tenants Seeking Rental Assistance

    The Iowa Finance Authority works with local partners to provide assistance to home buyers. Interested homebuyers should contact one of our partner agencies for information on the application process.

  • For Housing Organizations Applying for Funds

    The application period for the HOME Round is closed.

Rental Assistance

The HOME Rental Assistance program provides property owners and developers with funds to develop and preserve affordable rental housing for Iowans.

Eligibility

Application Process

  • For Tenants Seeking Rental Assistance

    The Iowa Finance Authority works with local partners to provide rental assistance to tenants. Interested renters should contact one of our partner agencies for information on the application process.

  • For Housing Organizations Applying for Funds

    The application period for the HOME Round is closed.

Compliance

IFA monitors all housing tax credit, HOME program and National Housing Tax Credit projects for compliance throughout the designated compliance period.

Compliance Information

Iowa’s HOME program assists communities with a wide range of affordable housing initiatives:

Learn about...

For questions about the HOME program reach out to:

Catch Up With Us on Social

Stay Connected with Iowa Finance Authority’s Newsletter SIGN ME UP