Homebuyer Down Payment Grant Program

Homebuyer Down Payment Grant Program is a grant for homebuyers in Davenport, Iowa. Davenport Homebuyer Down Payment Grant — up to $5,000 TRUE GRANT for FTHB at 80% AMI in Davenport city limits. CDBG/HOME-funded; classified as grant per program docs. City of Davenport Homebuyer Down Payment Grant Program provides up to $5,000 as a TRUE GRANT (no repayment, no lien on grant amount) toward down-payment and closing costs for first-time homebuyers at or below 80% AMI purchasing in Davenport city limits. CDBG/HOME-funded but classified as a grant per program documentation. Funding comes from Local, CDBG, and HOME.

Homebuyer Down Payment Grant Program offers up to $10,000 in assistance. Homebuyer contribution: Per first-mortgage lender overlays. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Homebuyer Down Payment Grant Program is structured as a grant, so it is not repaid. Repayment is triggered by True grant - no repayment required. Grant is up to 50% of the minimum required down payment plus up to 100% of reasonable closing costs, to a maximum of $10,000. The assistance is recorded in N/A (grant - no lien) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Homebuyer Down Payment Grant Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Per first-mortgage lender overlays. A homebuyer education course is required, through HUD-approved homebuyer education; required prior to closing. Residency requirement: Property must be located within Davenport city limits and used as borrower's primary residence. Citizenship or immigration status: U.S. citizen or eligible non-citizen per HUD CDBG/HOME rules. First-time homebuyer required (no homeownership in past 3 years). Household income at or below 80% AMI for Scott County (~$50,150-$94,550 by household size). Property must be in Davenport city limits and primary residence. HUD-approved homebuyer education required. Grant has minimal post-closing covenants per program documentation; verify current recapture terms with City.

Homebuyer Down Payment Grant Program limits household income to 80% of the area median income, which varies by county and household size. 80% AMI Scott County (Davenport MSA) — typically $50,150 (1 person) up to $94,550 (8+ person) by household size. 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.

Homebuyer Down Payment Grant Program caps the purchase price as follows: Per HUD HOME 95% area median purchase price; verify with City. Eligible property types include Single-family detached, condominium, townhouse. New construction is eligible. Manufactured homes are not eligible.

Homebuyer Down Payment Grant Program names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Homebuyer Down Payment Grant Program serves homebuyers purchasing in Davenport, Iowa. The program targets specific areas: Davenport may offer enhanced grant amounts in targeted neighborhoods (verify current with CED).

Applications for Homebuyer Down Payment Grant Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Application through Davenport Community & Economic Development; subject to annual allocation. 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.