GreenState H.O.M.E. Loan & Grant Program
GreenState H.O.M.E. Loan & Grant Program is a grant for homebuyers in Iowa, administered by GreenState Credit Union / GreenState Foundation.
The program asks for
- The home is occupied as a primary residence
- Special Purpose Credit Program - eligibility limited to people of color per program design. Program confirmed active and expanded (doubled to $1B goal through 2030).
- A home in Iowa
These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.
Where it applies
Iowa’s homesIowa’s homes, and the ones this program accepts
- 72.2% single-familysingle-family
- 4.5% townhousetownhouse
- 5.6% 2–4 units2–4 units
- 14.5% 5+ unitscondo & apartment buildings (5+ units)
- 3.2% mobile & othermobile home & other
A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.
$208,000
Iowa median home value
61.6%
built before 1980
U.S. Census Bureau, ACS 2024 5-year.
How to apply
How to applyTwo steps, in this order
Contact GreenState Credit Union / GreenState Foundation to reserve funds
Funds are reserved with the provider and are subject to availability.
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 homebuyer can take it to a lender or housing counselor.
Questions about this program
What is GreenState H.O.M.E. Loan & Grant Program?
GreenState H.O.M.E. Loan & Grant Program is a grant for homebuyers in Iowa, administered by GreenState Credit Union / GreenState Foundation. GreenState's H.O.M.E. (Helping Originate Minority Equity) program is a Special Purpose Credit Program combining flexible mortgage underwriting with down payment assistance grants (up to ~$5,000 via the GreenState Foundation) for people of color, aimed at closing Iowa's racial homeownership gap. As of December 2023 it had originated $532M+ in mortgages to 3,190 families and $980,000+ in DPA grants; the goal was doubled to $1 billion through 2030. Up to ~$5,000 down payment assistance grant. Modified/flexible loan approval process. Special Purpose Credit Program for people of color. Available across IA, IL, NE. Funding comes from GreenState Foundation (charitable arm of GreenState Credit Union).
How much assistance does it provide?
GreenState H.O.M.E. Loan & Grant Program offers up to $5,000 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 — GreenState Credit Union / GreenState Foundation determines any individual award.
Do you have to pay it back?
GreenState H.O.M.E. Loan & Grant Program 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?
GreenState H.O.M.E. Loan & Grant Program is open to homebuyers who will live in the home as their primary residence. Special Purpose Credit Program - eligibility limited to people of color per program design. Program confirmed active and expanded (doubled to $1B goal through 2030).
What are the income limits?
GreenState H.O.M.E. Loan & Grant Program sets its income limit as follows: Targeted to people of color living in low- to moderate-income census tracts; home purchase may be in any neighborhood. Specific income thresholds determined by lender at application. 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?
GreenState H.O.M.E. Loan & Grant Program can be used for Single Family.
Where does it apply?
GreenState H.O.M.E. Loan & Grant Program serves homebuyers purchasing anywhere in Iowa. The program targets specific areas: Special Purpose Credit Program for people of color (Iowans of color) in GreenState's field of membership across Iowa, Illinois, and Nebraska; designed to close the racial homeownership gap.
How do you apply?
Applications for GreenState H.O.M.E. Loan & Grant Program go through GreenState Credit Union / GreenState Foundation, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.
Also for Iowa homebuyersOther programs open to Iowa homebuyers
- FHLB Des Moines Native American Homeownership Initiative (NAHI) GrantUp to $25,000
- Upper Explorerland RPC First-Time Homebuyer Down Payment AssistanceUp to $24,999
- FHLB Des Moines Home$tart Down Payment GrantUp to $15,000
Whether two programs can be combined is up to each agency. Ask before you apply.
All 71 programs for IowaProgram terms are set by GreenState Credit Union / GreenState Foundation and can change; confirm on the official site before you apply.