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AHEAD Regional Housing Trust Fund Down Payment Assistance Program

Area 15 Regional Planning Commission / AHEAD, Inc. · Ottumwa, Iowa

Last verified
See what you qualify forOfficial program site →
Assistance

$10,000

The maximum the program publishes — not an offer

Income limit

$100,000

The household income limit the program publishes

Repayment

Deferred

No payments until the home is sold or refinanced

What is AHEAD Regional Housing Trust Fund Down Payment Assistance Program?

AHEAD Regional Housing Trust Fund Down Payment Assistance Program is a deferred second loan for homebuyers in Ottumwa, Iowa, administered by Area 15 Regional Planning Commission / AHEAD, Inc.

  • The AHEAD Regional Housing Trust Fund (RHTF) Down Payment Assistance program provides low-interest second-mortgage loans to qualified employed first-time homebuyers for down payment and/or closing costs on a home located inside an incorporated city in the six-county Area 15 region (Davis, Jefferson, Keokuk, Mahaska, Van Buren, Wapello). Administered as a revolving loan fund.
  • Fixed 3% interest second-mortgage loan for 10% of purchase price, up to $10,000, for down payment and/or closing costs.
  • Funding comes from Iowa Finance Authority State Housing Trust Fund; AHEAD RHTF revolving loan fund.

How much assistance does it provide?

AHEAD Regional Housing Trust Fund Down Payment Assistance Program offers up to $10,000 in assistance.

  • Amounts are the program's published maximums, not an offer — Area 15 Regional Planning Commission / AHEAD, Inc. determines any individual award.

Do you have to pay it back?

AHEAD Regional Housing Trust Fund Down Payment Assistance Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by Repaid in full if ownership/occupancy changes during the loan term; otherwise amortized over 5, 7, or 10 years.
  • The assistance is recorded in Second position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

AHEAD Regional Housing Trust Fund Down Payment Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • Residency: Property must be inside an incorporated city in Davis, Jefferson, Keokuk, Mahaska, Van Buren, or Wapello County
  • DRAFT (dpa-gap-finder 2026-06-14): pending review. At least one homebuyer must be employed and have filed Form 1040. AHEAD listed as loss payee on homeowner's insurance for life of loan. Property must occupy/maintain for life of loan.

The program excludes

  • Households above $100,000

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

AHEAD Regional Housing Trust Fund Down Payment Assistance Program limits household income to $100,000.

  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

AHEAD Regional Housing Trust Fund Down Payment Assistance Program can be used for Single Family.

  • New construction is eligible.

Where does it apply?

AHEAD Regional Housing Trust Fund Down Payment Assistance Program serves buyers purchasing in Ottumwa, Iowa.

  • Targeted neighborhoods: Incorporated cities within the six-county Area 15 region.

How do you apply?

Applications for AHEAD Regional Housing Trust Fund Down Payment Assistance Program go through Area 15 Regional Planning Commission / AHEAD, Inc., which publishes the current terms and the application steps on its own site.

  1. Contact Area 15 Regional Planning Commission / AHEAD, Inc. to reserve funds

    Funds are reserved through Continuous intake while funds available; reviewed within 30 days, and are subject to availability.

  2. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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