Greater Des Moines Habitat Homeownership: Direct (Down Payment Assistance)

What is Greater Des Moines Habitat Homeownership: Direct (Down Payment Assistance)?

Greater Des Moines Habitat Homeownership: Direct (Down Payment Assistance) is a deferred second loan for homebuyers in Des Moines, Iowa, administered by Greater Des Moines Habitat for Humanity.

• Homeownership: Direct lets income-qualified first-time buyers (50-80% AMI) shop on the open market in Polk, Dallas, or Jasper County, then provides up to $15,000 of down payment assistance plus a low-interest mortgage originated by Habitat and homebuyer education. Requires Habitat counseling, education, and 8-16 partnership (volunteer) hours.
• Up to $15,000 down payment assistance.
• Low-interest Habitat-originated mortgage.
• Buyer chooses any qualifying home on the open market.
• Homebuyer education and counseling included.
• Funding comes from Greater Des Moines Habitat for Humanity.

How much assistance does it provide?

Greater Des Moines Habitat Homeownership: Direct (Down Payment Assistance) offers up to $15,000 in assistance.

• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — Greater Des Moines Habitat for Humanity determines any individual award.

Do you have to pay it back?

Greater Des Moines Habitat Homeownership: Direct (Down Payment Assistance) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

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

Who qualifies?

Greater Des Moines Habitat Homeownership: Direct (Down Payment Assistance) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Greater Des Moines Habitat Homeownership: Direct (Down Payment Assistance) limits household income to 80% of the area median income, which varies by county and household size.

• Household income between 50% and 80% of area median income for household size (Polk/Dallas/Jasper AMI).
• 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?

Greater Des Moines Habitat Homeownership: Direct (Down Payment Assistance) can be used for Single Family.

Where does it apply?

Greater Des Moines Habitat Homeownership: Direct (Down Payment Assistance) serves buyers purchasing in Des Moines, Iowa.

How do you apply?

Applications for Greater Des Moines Habitat Homeownership: Direct (Down Payment Assistance) go through Greater Des Moines Habitat for Humanity, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Habitat pre-purchase counseling plus 4-8 hours of online homebuyer education.

2. 2

   Contact Greater Des Moines Habitat for Humanity to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   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.