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Iowa Finance Authority Military Homeownership Assistance Program

Iowa Finance Authority, through participating lenders
$5,000 grant for down payment and closing costs

You can get a $5,000 grant toward the down payment and closing costs on a qualifying home in Iowa, and combine it with the FirstHome Program or the Homes for Iowans Program. Inactive duty training, annual training and active duty for training do not count toward the 90-day active duty requirement, and the active duty does not have to be consecutive. Funding is limited.

Check eligibility

How to apply

Contact an Iowa Finance Authority participating lender, and get the Authority’s approval before you close on the home. For help, email homebuyer.inquiry@iowafinance.com.

What you'll need

Your DD214 or discharge paperwork showing qualifying active duty service, your VA disability rating documentation if you are qualifying on that basis, or proof of your relationship to the service member if you are a surviving spouse.

Eligibility

  • You served at least 90 days of active duty between August 2, 1990 and April 6, 1991 or from September 11, 2001 to the present and received a discharge other than dishonorable, or you have a VA service-connected disability rating and served on active duty in one of those periods with a discharge other than dishonorable, or you are the surviving spouse of such a service member or veteran
  • You get Iowa Finance Authority approval before you close on the home
  • You buy a single-family home, condominium, townhome or property of up to four units in Iowa and occupy it as your primary residence within 60 days of closing
  • You use an Iowa Finance Authority participating or facilitating lender, unless the Authority accepts other financing that is a lower-cost fixed rate, permanent, fully amortizing mortgage

Source

Official source