The Iowa Finance Authority offers loan funds for qualified entities to construct new single-family homes in Iowa communities. Eligible applicants include non-profit 501(c)(3) organizations, cities or counties, community housing development organizations (CHDOs), economic development corporations, local housing trust funds and public school or community colleges with a trade class apprenticeship program. These groups may apply for and use the funds or they may loan them to local contractors and/or developers. Applicants must demonstrate that they have the necessary skills, experience and capacity to manage the funds. Preference will be given to organizations that further the mission of the Iowa Finance Authority, with special priority given to those applicants serving households at or below 80 percent of the area or statewide median income, whichever is greater.
