Iowa · Deferred 0% loan

IFA FirstHome DPA Loan

$5,000

Up to $5,000 as a 0% interest deferred loan. No monthly payments. Repaid on sale or refinance.

IFA's DPA Loan provides $5,000 as a second mortgage for Iowa first-time buyers. Iowa's affordable market means $5,000 covers the full 3.5% FHA down payment on homes up to $142,000.

Amount$5,000

TypeDeferred 0% loan

Available inIowa

First-time buyer requiredYes

Minimum credit score640

Multi-unit eligibleYes — 1-4 units

House-hack eligible

This program can be used on 1-4 unit properties. Live in one unit, rent the others.

Programs that pair with this

FHA Loan Saves ~$33,000 on a $200K home vs 20% down

Federal · Subsidized loan

VA Loan $0 down + no monthly mortgage insurance

Federal · Federal benefit

NACA Program $0 down + $0 closing + $0 PMI + below-market rate

National · Nonprofit program

IFA FirstHome DPA Grant $2,500

Iowa · Grant

IFA Homes for Iowans Below-market rate + DPA for repeat buyers

Iowa · Subsidized loan

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