Dupaco / Fannie Mae HomeReady Down Payment Assistance

What is Dupaco / Fannie Mae HomeReady Down Payment Assistance?

Dupaco / Fannie Mae HomeReady Down Payment Assistance is a grant for homebuyers in Dubuque, Iowa, administered by Dupaco Community Credit Union (in partnership with Fannie Mae).

• A partnership between Dupaco Community Credit Union and Fannie Mae providing HomeReady Loan down payment assistance. The program provides $2,500 to eligible homebuyers, regardless of location, who are beginning their homeownership journey; the assistance is a credit applied toward the down payment and closing costs of a home purchased with a Fannie Mae HomeReady mortgage. Currently available to Dupaco members. Additional eligibility guidelines apply.
• $2,500 credit toward down payment and closing costs.
• Paired with Fannie Mae HomeReady mortgage.
• Potentially lower monthly payments.
• Funding comes from Fannie Mae HomeReady / Dupaco Community Credit Union.

How much assistance does it provide?

Dupaco / Fannie Mae HomeReady Down Payment Assistance offers up to $2,500 in assistance.

• Amounts are the program's published maximums, not an offer — Dupaco Community Credit Union (in partnership with Fannie Mae) determines any individual award.

Do you have to pay it back?

Dupaco / Fannie Mae HomeReady Down Payment Assistance is structured as a grant, so it is not repaid.

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Dupaco / Fannie Mae HomeReady Down Payment Assistance is open to buyers who will live in the home as their primary residence.

What are the income limits?

Dupaco / Fannie Mae HomeReady Down Payment Assistance sets its income limit as follows: Follows Fannie Mae HomeReady income eligibility (generally income at or below 80% AMI for the property location); additional Dupaco eligibility guidelines apply. Exact limits not published on the announcement page.

• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Where does it apply?

Dupaco / Fannie Mae HomeReady Down Payment Assistance serves buyers purchasing in Dubuque, Iowa.

How do you apply?

Applications for Dupaco / Fannie Mae HomeReady Down Payment Assistance go through Dupaco Community Credit Union (in partnership with Fannie Mae), which publishes the current terms and the application steps on its own site.

1. 1

   Contact Dupaco Community Credit Union (in partnership with Fannie Mae) to reserve funds

   Funds are reserved with the provider 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.