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Iowa Finance Authority Programs

Local Lender, Local Advantage

The Iowa Finance Authority (IFA) has a network of “Participating Lenders” who are experienced in helping Iowans with homeownership programs. We are IFA Preferred Top Lenders, so we are pleased to offer the following programs. We specialize in pairing these IFA programs with other great loan options to give our buyers the best possible path to homeownership.

When you work with us, it does NOT add time to the process for a buyer to take advantage of these programs!

Military Homeownership Assistance Program

$5,000 Military Grant

The Military Homeownership Assistance Program is provided by Iowa Finance Authority to recognize how much our service members have done for us. It provides a $5,000 grant to service members and veterans for down payments and closing costs.

First Time Home Buyer Programs

Interest Free Second Mortgage

A buyer can qualify for up to 5% of the purchase price to be applied toward down payment, closing costs, or prepaids. This is an interest free loan that is paid off when the buyer sells or refinances the home.

Maximum income limits vary with county and household size. This is for buyers who have a 640 or higher credit score.

$2,500 Grant

No repayment required! It can be applied towards down payment and/or closing costs. This is for first time homebuyers who have a 640+ credit score.

For All These Programs:

  1. All programs can be combined with one of our fixed-rate loan programs (USDA Rural Development, VA, FHA or Conventional)
  2. First Time Home Buyer- Buyer hasn’t had ownership interest in a primary residence in the last 3 years
  3. No income producing property allowed
  4. You must use an IFA Participating Lender like Residential Mortgage Network

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