Iowa Finance Authority
Programs

Lender

The Iowa Finance Authority (IFA) offers affordable homeownership programs which are accessed through our network of IFA Participating Lenders across the state. Participating Lenders facilitate the loan approval process with the home buyer, originate and close mortgage loans, and then deliver eligible mortgage loans to IFA’s master servicer after closing.

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.

If you're not already, we encourage you to join our list of Participating Lenders and help us provide affordable homeownership financing options for all Iowans. Learn more in the Lender Sign-Up section below!

 New Participating Lender Sign-Up
Participating lenders are generally expected to answer questions regarding IFA programs, complete applications for financing on behalf of the borrower and provide timely completion of all required loan and bond documents. To become an Iowa Finance Authority Participating Lender, please submit:

 

 

 

Notice Available Funds
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Effective 12.04.17
 
Military Homeownership Assistance (MHOA)$97,153
 
$1,500 Conventional Closing Cost Assistance (CCA): $164,000
 
Our regular down payment assistance programs have funds available on a consistent basis
 
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Participating Lender Training Webinars

Tuesday, Dec. 5 at 10:00 a.m.
 


 

As of 5:27 AM, December 11, 2017
Mortgage Rates starting at: 3.625 %
 
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Single-Family Team | 800-432-7230