About the Iowa Finance Authority
The FirstHome and Homes for Iowans Programs offer eligible first-time and repeat home buyers affordable, fixed rate mortgages for the purchase of a primary residence in Iowa. FirstHome Plus and Homes for Iowans Plus (the "Plus" Programs) offer these same home buyers the option of pairing a grant of up to $2,500 to help with down payment and closing costs with an affordable, fixed rate mortgage.
IFA also administers the Military Homeownership Assistance Program, which provides eligible service members and veterans with a $5,000 grant for down payment and closing costs. The Military Homeownership Assistance grant may be combined with a Plus grant for a total of $7,500 of down payment and closing cost assistance for borrowers who qualify for both programs. However, an individual borrower is limited to one-time use of a Plus grant and one-time use of a Military Homeownership Assistance grant.
Consumers rely on real estate professionals to provide information and assist them during the home purchase process. Realtors and real estate agents are important partners that provide a gateway to answering home buyer questions about available programs. We have training and materials available upon request, that will help familiarize you to our affordable homeownership programs. Please let us know if you would like a supply of materials about our programs to share with your clients!