Skip Navigation Documents in Portable Document Format (PDF) require Adobe Acrobat Reader 5.0 or higher to view,download Adobe® Acrobat Reader.

Home$tart and Home$tart Plus

Home$tart® and Home$tart Plus

Affordable Housing Program – Down Payment Subsidy

  • $17.5 million available for reservation, nationwide
  • Up to $5,000 per application for the purchase of owner-occupied units
  • Up to $10,000 for applicants currently receiving public housing assistance
  • Can be used for:
    • Down Payment
    • Closing Costs
    • Home Ownership Counseling (up to $250 for 8 hours or $450 for over 8 hours)
  • First-time home-buyers must complete a Financial Literacy Program
    • In Person – Please contact Iowa Trust for a list of providers
    • Online Courses Available
  • Borrower household income must not exceed 80% of the area median income
    • $51,500 – 4-person family: Appanoose, Davis, Monroe & Wayne counties
  • Maximum purchase price of $255,000
  • Deed will be subject to a 5-year restriction
  • Required Documentation
    • Income calculation workbook with supporting verification documents
    • Proof of financial literacy program completion for first-time home-buyers
    • Signed Purchase Agreement

Made possible by the Federal Home Loan Bank Des Moines