HOME BUYERS ASSISTANCE PROGRAMS
The IFA Homebuyer Down Payment Assistance Program is to provide down payment assistance and minor rehabilitation to low-to-moderate income first-time homebuyers in Benton, Iowa, Johnson, Jones & Washington Counties.
Eligibility
The home purchased must be buyer’s primary residence.
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​Buyer must continue to own and occupy the home as their primary residence for 5-10 years dependent on amount of assistance.
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Buyer must obtain a fixed-rate mortgage with a term of at least 15 years.
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Income limits apply: Must be at or below 80% Area Median Income for family size. Documentation for verification must be complete and will remain good for 12 months.
Income limits apply to the county in which you are purchasing a home.
Targeted Communties
Anamosa, Belle Plaine, Coralville, Kalona, Lone Tree, Marengo, Monticello, North Liberty, Solon, Tiffin, Vinton, University Heights, Washington and Williamsburg​.​
First-Time Homebuyer Definition
HUD defines a First-Time Homebuyer as any individual who has not held ownership in a principal residence during the three years prior to purchasing a new home. First-Time Homebuyers may also include single parents or displaced homemakers who have only owned a home with a former spouse, or persons who have only owned a mobile home not permanently affixed to a foundation. ​
Ready to Start Looking for a Home?
How to Apply:
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Return a complete and accurate application with the required income documentation.
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Obtain mortgage preapproval from a qualified lender.
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Begin searching for a qualified home.
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Homes will be subject to inspection, lead/radon testing, and environmental review.​​