A New Homebuyer Just Like You

Financial Snapshot

Have you been searching online and visiting neighborhoods to find the perfect home? In today’s market, houses do not stay available long, so it is important to plan and be ready to move fast when it comes to buying a home. A few steps to getting started include: 1. Find a real estate agent and lender 2. Understand your finances 3. And learn about existing programs that may help you get into a new home!

Homeownership may be closer than you think

Find real-life examples below and see if this sounds like your situation.

Target Home

  • Home Price

    $160,000

  • Minimum Down Payment Percentage Required

    3%

  • Down Payment Required

    $4,800

Financial Snapshot

  • First-time homebuyer

    Yes

  • Household Income

    $66,000

  • Credit Rating

    730

  • Student Debt

    $42,000

  • Current Rent

    $500/mo.

  • Car Payment

    $267/ mo.

Help from the Iowa Finance Authority

The Iowa Finance Authority provides mortgage, down payment and closing costs assistance programs to first-time and repeat homebuyers that can make buying a home affordable and easy. The Iowa Finance Authority offers mortgage programs that have lower minimum down payment requirements, as well as two down payment and closing costs assistance programs: Grant for $2,500 OR 2nd Loan of up to $5,000, to help homebuyers.

Target Home With Assistance

  • Home Price:

    $160,000

  • Minimum Down Payment Percentage Required

    3%

  • Down Payment Required

    $4,800

  • IFA Down Payment Assistance Loan

    $5,000

  • Adjusted/New Down Payment

    $0 (not including closing costs)

In Closing

IFA connects many people with affordable financing resources to help them turn their dreams into untold realities. And for Edwardo, IFA is bringing more light to his reality, giving Iowans the confidence, courage and inspiration they need to begin a new adventure.

Learn how the Iowa Finance Authority may be able to assist you with your home purchase.

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We work for you, so let us hear you

It’s important to us that the Iowa Finance Authority is available to you to answer your questions, lead you to the right program and address your concerns.

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