Iowa Down Payment Assistance Programs (2026, Verified)

Iowa down payment assistance programs

Quick answer

Iowa buyers can get down payment help from Iowa Finance Authority. We verified 2 statewide programs, including FirstHome Down Payment and Closing Costs Grant ($2,500 grant). Most programs require using the agency's first mortgage, meeting income limits and completing homebuyer education. Details below come from the official agency site.

What down payment assistance does Iowa offer?

Program	Amount	Type	Min. credit	First-time only?
FirstHome Down Payment and Closing Costs Grant	$2,500 grant	Grant (no repayment)	Not stated	Yes
Iowa Finance Authority 2nd Loan Program	Up to 5% of the home's sale price or appraised value (whichever is lower), with no maximum	Deferred-payment loan	640	No

How do I apply for Iowa down payment assistance?

Find a participating lender approved by Iowa Finance Authority.
Get pre-approved for the agency's first mortgage and confirm you meet income and price limits.
Complete the required homebuyer education course.
Your lender reserves the assistance when you go under contract.

Cities in Iowa

Des Moines Cedar Rapids Davenport Sioux City Iowa City Ankeny West Des Moines Waterloo Ames Council Bluffs

Other states with verified programs

Alabama Arkansas California Colorado Connecticut Delaware District Of Columbia Florida Idaho Illinois

Frequently asked questions

FirstHome Down Payment and Closing Costs Grant: $2,500 grant; Iowa Finance Authority 2nd Loan Program: Up to 5% of the home's sale price or appraised value (whichever is lower), with no maximum.

Not always — Iowa Finance Authority 2nd Loan Program is open to repeat buyers too.

Published minimums range from 640 to 640 among the programs we verified.

Sources

Iowa Finance Authority — Iowa Finance Authority 2nd Loan Program (verified October 23, 2026)

Data last updated October 23, 2026.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.