FirstHome 25- or 30-year fixed-rate first mortgage for eligible first-time homebuyers. Choose either a $2,500 grant or a 2nd Loan of up to 5% of the lower of sale price or appraised value, with no monthly payments; repaid at sale, refinance, or payoff of the first mortgage.

Paired with: Conventional, FHA, VA, USDA

• First-time homebuyer: Required
• Primary residence only
• Minimum FICO: 640
• Maximum DTI: 50%
• Income: Household income from $102,100 to $171,360 depending on county and household size; purchase price up to $566,000 ($692,000 in targeted areas).
• Homebuyer education required

First-time homebuyer defined as not owning a primary residence in the past 3 years; eligible military members and targeted-area purchases are exempt. DTI up to 50% with an approve/eligible finding (45% for manual underwriting). Delivered through IFA participating lenders. Starting with reservations made on or after Nov. 2, 2026, IFA offers a 3% second (up to $10,000) and a 5% second (up to $15,000), and the $2,500 Plus grant ends.

Source: opportunityiowa.gov

25- or 30-year fixed-rate first mortgage paired with a 2nd Loan of up to 5% of the sale price or appraised value (whichever is lower), with no monthly payments.

Paired with: Conventional, FHA, VA, USDA

• Primary residence only
• Minimum FICO: 640
• Maximum DTI: 50%
• Income: Household income up to $171,360; purchase price up to $692,000.
• Homebuyer education required

Available to both first-time and repeat homebuyers. The 2nd Loan is repaid at sale, refinance, or payoff of the first mortgage. Cannot be combined with FirstHome assistance. Starting with reservations made on or after Nov. 2, 2026, IFA offers a 3% second (up to $10,000) and a 5% second (up to $15,000), and the $2,500 Plus grant ends.

Source: opportunityiowa.gov

$2,500 grant toward down payment and closing costs (FirstHome only), or alternatively up to 5% of the lower of sale price or appraised value as a deferred second mortgage.

Paired with: Conventional, FHA, VA, USDA

• Primary residence only
• Minimum FICO: 640
• Income: IFA-published income limits apply.

Used in combination with FirstHome or Homes for Iowans first mortgages; grant or 2nd Loan, not both. Starting with reservations made on or after Nov. 2, 2026, IFA offers a 3% second (up to $10,000) and a 5% second (up to $15,000), and the $2,500 Plus grant ends.

Source: opportunityiowa.gov

$5,000 grant toward down payment and closing costs for eligible service members and veterans.

• Primary residence only

May be combined with FirstHome or Homes for Iowans assistance.

Source: opportunityiowa.gov

Up to $30,000 as a 0% interest deferred loan toward down payment and closing costs; no monthly payments.

Household income at or below 80% of area median income; 8 hours of homebuyer education required; property must be an owner-occupied primary residence and buyer may not own another property at closing. Repayment due at sale, change of occupancy, or in some cases refinance. Launched in 2023 with $5 million; available while funds last.

Source: www.polkcountyiowa.gov