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Iowa FirstHome Down Payment and Closing Costs Assistance Grant

Iowa Finance Authority offers FirstHome Down Payment and Closing Costs Assistance Grant to first-time buyers in Iowa: up to $2,500, as a grant.

Amount
Up to $2,500
Kind of help
Grant
First-time buyers only
Yes, with exceptions
Credit score
640 or higher

Grant.

A grant is money you never pay back, as long as you keep to the program's rules.

Who qualifies for Iowa FirstHome Down Payment and Closing Costs Assistance Grant?

  • Varies by county and household size; $102,100 to $171,360.
  • First-time buyers only: yes, with exceptions.
  • A credit score of 640 or higher.
  • It comes with an Iowa Finance Authority (FirstHome) mortgage.
  • Price limit: $566,000; up to $692,000 in targeted areas.

Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.

How to apply for Iowa FirstHome Down Payment and Closing Costs Assistance Grant

  1. Iowa Finance Authority pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
  2. The lender checks your income, credit and the home against the program's rules and reserves the money for you.
  3. The help is paid at closing, toward your down payment and closing costs.

Read the full rules and whether it is taking applications on Iowa Finance Authority's page for FirstHome Down Payment and Closing Costs Assistance Grant.

Ask a lender about Iowa FirstHome Down Payment and Closing Costs Assistance Grant

Tell us where you're buying and a lender that works with Iowa's programs can tell you whether Iowa FirstHome Down Payment and Closing Costs Assistance Grant fits you, and what you could combine with it.

Call 866-602-7460

Rather not call? Send your details and the lender will reach you.

When you send this request, you agree that one mortgage lender who works with these programs may contact you by email, phone or text, including by automated means, about this request. Agreeing is not a condition of any purchase. We are an independent guide, not a lender or a government agency; only that one lender gets your details, and it may pay us for the introduction. See our about page and privacy notice.

Other first-time buyer programs in Iowa

All Iowa first-time home buyer programs · Down payment assistance in every state