Iowa down payment assistance, deep-checked against current state program sources.
A current inventory of state-run and state-administered assistance in Iowa, plus national DPA options. Funding and rate sheets can still change after this review date.
Reviewed September 11, 2026 • Joshua Dobson, NMLS #190260
Quick comparison
| Program | Potential assistance | Published min. FICO | Repayment/Forgiveness | Biggest catch |
|---|---|---|---|---|
| IFA FirstHome — Grant Option | $2,500 grant | 640 | Grant; no repayment | Borrower chooses grant OR FirstHome second-loan option, not both. |
| IFA FirstHome — Second Loan | Up to 5% of lesser sales price/appraised value; no stated dollar maximum on current page | 640 | Deferred second loan; current payoff rules apply | Verify live funding and current lender matrix before relying on the program. |
| IFA Homes for Iowans DPA | Up to 5% of lesser sales price/appraised value; no stated dollar maximum | 640 | Deferred second; due at sale/refi/first-mortgage payoff under current rules | Verify live funding and current lender matrix before relying on the program. |
| IFA Military Homeownership Assistance | $5,000 grant | program/first-mortgage specific | Grant; may be combined with eligible FirstHome/Homes for Iowans assistance | Military eligibility rules apply; this is one of the few Iowa benefits that may stack with another eligible IFA assistance option. |
IFA FirstHome — Grant Option
IFA FirstHome — Grant Option is a current state-administered homebuyer assistance option. Mortgage Navigator uses the administering agency as the controlling source and avoids filling changing details with stale third-party numbers.
Published minimum FICO: 640
IFA FirstHome — Second Loan
IFA FirstHome — Second Loan is a current state-administered homebuyer assistance option. Mortgage Navigator uses the administering agency as the controlling source and avoids filling changing details with stale third-party numbers.
Published minimum FICO: 640
IFA Homes for Iowans DPA
IFA Homes for Iowans DPA is a current state-administered homebuyer assistance option. Mortgage Navigator uses the administering agency as the controlling source and avoids filling changing details with stale third-party numbers.
Published minimum FICO: 640
IFA Military Homeownership Assistance
IFA Military Homeownership Assistance is a current state-administered homebuyer assistance option. Mortgage Navigator uses the administering agency as the controlling source and avoids filling changing details with stale third-party numbers.
Published minimum FICO: program/first-mortgage specific
National programs Iowa buyers should also check
National Homebuyers Fund
NHF multi-state assistance may be available through participating lenders. Current lender/product terms control credit, pricing, assistance and repayment or forgiveness.
Published minimum FICO: product/lender specific
Chenoa Fund
Chenoa Fund provides FHA down-payment assistance through approved lender partners. Current matrices control credit, pricing and second-mortgage terms.
Published minimum FICO: product/lender specific
Iowa's biggest DPA lesson
Iowa has four meaningful state assistance paths: FirstHome grant, FirstHome second loan, Homes for Iowans second loan and the Military Homeownership Assistance grant. V25 now distinguishes which options can and cannot be combined.
Let Josh compare the available programs.
Send the city/ZIP, purchase price, credit range, household income and first-time-buyer status.