Iowa Finance Authority

Home Buyer/Homeowner

The Iowa Finance Authority (IFA) can help to make your dreams of homeownership come true and provide assistance even after you have the keys to your new home!

IFA offers affordable mortgage and entry cost assistance programs for both first-time home buyers and those who have owned a home previously, in partnership with our local Participating Lenders.

FirstHome & Homes for Iowans Programs
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.

NOTE: Now Available: New conventional mortgage product with 3% down and no mortgage insurance! Learn more about HFA Preferred Risk Sharing

Military Homeownership Assistance and Take Credit
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.

Other Resources
In addition to helping Iowans purchase their home, IFA's Iowa Title Guaranty can help protect it as well. Home buyers may request an Iowa Title Guaranty Owner’s Certificate at loan closing. This Certificate protects the borrower’s interest in the property’s title, even after the home is sold. If a title defect is identified, Iowa Title Guaranty becomes the borrower’s free legal defense. This coverage is available for free, so long as 1) the lender selects Iowa Title Guaranty Coverage; 2) the home is the borrower's primary residence; and 3) the home is valued at less than $500,000.

Also, if you purchase a home with a septic system, the Iowa Finance Authority's Water Quality Division can provide you with affordable financing for system repair or replacement through the On-Site Wastewater Assistance Program.

Get Started
Please review the program details and eligibility quick check, then contact a Participating Lender near you and ask about  IFA's programs that you could benefit from.

Still have questions? Contact IFA's homeownership experts: 800-432-7230.

Notice Learn More
As of 11:44 AM, May 25, 2016
Mortgage Rates starting at: 3.250 %

Use our eligibility quick check to determine which of our safe, affordable mortgage finance programs is right for you.

Visit a
Participating Lender to prequalify for a loan.


  • After you've signed a purchase agreement on the home you wish to purchase, you can apply for a loan! Be prepared to provide your loan officer with all of the necessary documentation.
  • Once you've applied, the processor will review your credit report and verify your assets, income and payment history. A home appraisal - paid for by the borrower - will be performed during this phase of this process.
  • The underwriter at your lending institution will make sure you qualify for the loan.


The closing process means you're almost there. After you sign the required paperwork, you'll receive the keys to your new home!

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