Iowa Finance Authority Programs

With over 30 years of experience providing home loans to individuals, RMN is here to help our fellow Iowans in every step of the way in purchasing your dream home. At RMN, we originate Rural Development loans, VA loans, Conventional loans, FHA loans and new construction loans. Schedule an appointment today with one of our expert loan officers about any of our home loan programs!

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FirstHome Program

This program provides homebuyers with a $2,500 grant to help with down payment and closing costs.

Homes for Iowans

The Homes for Iowans Program is available not only for first time home buyers but also for repeat home buyers to purchase a home in Iowa.

Military Homeownership Assistance Program

Military Veterans and service members can get up to $5,000 if they qualify for this grant.

Iowa Finance Authority Programs

FirstHome Program

The FirstHome Program provides first time home buyers the opportunity for down payment assistance. This program provides homebuyers with a $2,500 grant to help with down payment and closing costs. Although the amount of down payment required is still determined by the type of loan you applied for, the availability of these down payment and closing cost assistance programs for first time home buyers is a huge help for covering up-front expenses.

Homes For Iowans

The Homes for Iowans Program is available not only for first time home buyers but also for repeat home buyers to purchase a home in Iowa. If you are within the income limit ($141,680) stated on the program’s eligibility requirements, you can still get a $2500 Homes for Iowans grant.

Military Homeownership Assistance Program

Military Veterans and service members can get up to $5,000 if they qualify for this grant. The good thing about this program is that the funds can be used in conjunction with the FirstHome and Homes for Iowans programs. Service eligibility requires veterans to have a minimum of 90 days of active duty between August 2, 1990 and April 6, 1991 or September 11, 2001 to present. A surviving spouse of an eligible service person can also qualify for this grant.

Iowa Finance Authority also offers a 2nd loan if the homebuyer would benefit from it more than the grant. This would provide them with additional funding of 5% of the home’s value or $5,000, whichever is less. If you are interested in applying for any of these financing programs, contact RMN today to get started!