Habitat for Humanity of North Central Iowa Homeownership Program

Habitat for Humanity of North Central Iowa Homeownership Program is down payment assistance for homebuyers in Mason City, Iowa, administered by Habitat for Humanity of North Central Iowa. Habitat for Humanity of North Central Iowa builds and sells homes to income-qualified partner families in its six-county service area (Cerro Gordo, Franklin, Hancock, Winnebago, Worth, Wright). Selected families purchase the home with affordable monthly payments based on income, contribute sweat equity, and complete homebuyer education. Purchase of a Habitat-built home with affordable monthly payments (principal, taxes, insurance) based on income. Sweat equity. Funding comes from Habitat for Humanity of North Central Iowa (donations, recycled mortgage payments, sponsors).

Habitat for Humanity of North Central Iowa Homeownership Program is down payment assistance and is repaid under the terms set by Habitat for Humanity of North Central Iowa. The assistance is recorded in First position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Habitat for Humanity of North Central Iowa Homeownership Program is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through Habitat for Humanity of North Central Iowa (budgeting and home maintenance classes). Residency requirement: Must work or reside in the six-county service area (Cerro Gordo, Franklin, Hancock, Winnebago, Worth, Wright). 250 hours sweat equity per adult (max 500/family); demonstrate need, ability to pay, willingness to partner. Applications were not being accepted at time of research (notification list) — confirm open window before publish.

Habitat for Humanity of North Central Iowa Homeownership Program limits household income to 80% of the area median income, which varies by county and household size. Total income up to ~80% AMI with min/max ranges by family size: 1p $18,790-$50,083 ... 4p $26,825-$71,525 ... 8p $35,425-$94,433. The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Habitat for Humanity of North Central Iowa Homeownership Program can be used for Single Family. New construction is eligible.

Habitat for Humanity of North Central Iowa Homeownership Program serves homebuyers purchasing in Mason City, Iowa.

Applications for Habitat for Humanity of North Central Iowa Homeownership Program go through Habitat for Humanity of North Central Iowa, which publishes the current terms and the application steps on its own site. Funds are reserved through Periodic application cycles; notification list maintained while closed. 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.