IFA FIRST TIME HOMEOWNER PROGRAMS:

**Provides up to $2,500 in assistance to help eligible first-time and repeat home buyers with entry costs including down payment and closing costs.

**Provides eligible service members and veterans with a $5,000 grant that may be used toward down payment and closing costs.

2014 Take Credit Mortgage Credit Certificate Program:

  • Take Credit allows a participating home buyer to claim 30% of their mortgage interest, up to a maximum of $2,000, as a federal income tax credit each year for the life of the mortgage, up to a maximum of 30 years.
  • Unused credit may be carried forward for up to three years.
  • Applicants must meet applicable federal income limits for Iowa, which vary by county.

Applicants must meet ONE of the following:

  1. Be a first-time home buyer (have not owned or have had ownership interest in a primary residence in the last three years); OR
  2. Purchase a home in a Targeted Area; OR
  3. Be a military veteran who has not previously used a Mortgage Revenue Bond Program with a discharge of other than dishonorable. Applicants must meet applicable federal income limits for Iowa, which vary by county

***Other restrictions may apply for these programs, please contact our lender for more details.