Cedar Falls Housing Trust Fund Homebuyer Assistance

What is Cedar Falls Housing Trust Fund Homebuyer Assistance?

Cedar Falls Housing Trust Fund Homebuyer Assistance is a forgivable loan for homebuyers in Cedar Falls, Iowa, administered by Iowa Northland Regional Council of Governments (INRCOG) for the Cedar Falls Housing Trust Fund.

• The Cedar Falls Housing Trust Fund (CFHTF) provides down payment assistance to income-eligible households purchasing a home within the City of Cedar Falls, available to first-time and subsequent buyers. Assistance is up to $10,000 per household, structured as a forgivable loan over a 5-year period, usable only for principal or closing costs. INRCOG reviews applications, verifies income, and coordinates closing/security documents. Funds are awarded first-come, first-served until exhausted; the 2025-2026 funding round had $80,000 available for this activity.
• Up to $10,000 down payment assistance.
• Forgivable over 5 years.
• Usable for principal or closing costs.
• First-time or subsequent buyers eligible.
• Funding comes from Iowa Finance Authority (IFA) grant via the Cedar Falls Housing Trust Fund.

How much assistance does it provide?

Cedar Falls Housing Trust Fund Homebuyer Assistance offers up to $10,000 in assistance.

• Amounts are the program's published maximums, not an offer — Iowa Northland Regional Council of Governments (INRCOG) for the Cedar Falls Housing Trust Fund determines any individual award.

Do you have to pay it back?

Cedar Falls Housing Trust Fund Homebuyer Assistance is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Forgiven over a 5-year period (prorated repayment if owner-occupancy not maintained).
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Cedar Falls Housing Trust Fund Homebuyer Assistance is open to buyers who will live in the home as their primary residence.

What are the income limits?

Cedar Falls Housing Trust Fund Homebuyer Assistance limits household income to 80% of the area median income, which varies by county and household size.

• Households must be at or below 80% of Area Median Income (AMI), based on household size, for Cedar Falls/Black Hawk County.
• 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?

Cedar Falls Housing Trust Fund Homebuyer Assistance can be used for Single Family.

Where does it apply?

Cedar Falls Housing Trust Fund Homebuyer Assistance serves buyers purchasing in Cedar Falls, Iowa.

• Targeted neighborhoods: City of Cedar Falls.

How do you apply?

Applications for Cedar Falls Housing Trust Fund Homebuyer Assistance go through Iowa Northland Regional Council of Governments (INRCOG) for the Cedar Falls Housing Trust Fund, which publishes the current terms and the application steps on its own site.

1. 1

   Contact Iowa Northland Regional Council of Governments (INRCOG) for the Cedar Falls Housing Trust Fund to reserve funds

   Funds are reserved through First-come, first-served until funds exhausted, and are subject to availability.

2. 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.