hey prescott.
See what you qualify for

Military Homeownership Assistance

Statewide, Iowa

Last verified
See what you qualify forOfficial program site →
Assistance

$5,000

The maximum the program publishes — not an offer

Repayment

Grant

Not repaid

What is Military Homeownership Assistance?

Military Homeownership Assistance is a grant for homebuyers in Statewide, Iowa.

  • Military Homeownership Assistance is IFA's $5,000 grant for eligible Iowa service members, veterans, and surviving spouses. True grant — no repayment. Stackable with IFA's FirstHome and Homes for Iowans DPA on the same transaction. Service documentation (orders, DD-214, or surviving-spouse documentation) required.
  • Military Homeownership Assistance provides a $5,000 TRUE GRANT (no repayment, no lien, no recapture) toward down payment and/or closing costs for eligible Iowa active-duty service members, reservists, National Guard members, veterans, and Gold Star surviving spouses. May be combined with IFA's FirstHome or Homes for Iowans first-mortgage products and DPA. The grant is in addition to (stackable with) the FirstHome 2nd Loan / FirstHome Grant / HFI 2nd Loan when used by qualifying military borrowers.
  • Funding comes from State and HFA.

How much assistance does it provide?

Military Homeownership Assistance offers up to $5,000 in assistance.

  • Buyer contribution: Per paired IFA first-mortgage product.
  • 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.

Do you have to pay it back?

Military Homeownership Assistance is structured as a grant, so it is not repaid.

  • Repayment is triggered by True grant — no repayment required.
  • 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.

Who qualifies?

Military Homeownership Assistance is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • On credit: Per paired IFA first-mortgage product (typically 640 FICO)
  • A completed homebuyer education course, through IFA-approved homebuyer education when paired with FirstHome or HFI first mortgage; required for all FTHB borrowers.
  • Residency: Property must be located in Iowa and used as borrower's primary residence
  • Citizenship or immigration status: Per paired first-mortgage product overlays
  • Eligible borrowers: (1) Active-duty members of U.S. Armed Forces or Iowa National Guard / Reserve units; (2) Honorably discharged veterans (DD-214 required); (3) Surviving spouses of qualifying service members. Service-related documentation required. Property must be in Iowa and primary residence. When paired with FirstHome or HFI, those programs' income, FICO, DTI, and purchase-price limits apply. As a stand-alone grant, IFA does not impose a separate income or purchase-price cap, but use is limited to IFA first-mortgage transactions.

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Military Homeownership Assistance sets its income limit as follows: No separate Military Homeownership Assistance income limit; limits of paired FirstHome or HFI first mortgage apply.

  • 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?

Military Homeownership Assistance caps the purchase price as follows: Per paired IFA first-mortgage product (FirstHome or HFI acquisition limits).

  • Eligible property types include Per paired IFA first-mortgage product overlays.
  • New construction is eligible.
  • Manufactured homes are eligible.

Is there eligibility for specific groups?

Military Homeownership Assistance 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.

Where does it apply?

Military Homeownership Assistance serves buyers purchasing in Statewide, Iowa.

How do you apply?

Applications for Military Homeownership Assistance go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through IFA-approved homebuyer education when paired with FirstHome or HFI first mortgage; required for all FTHB borrowers..

  2. Contact the administering agency to reserve funds

    Funds are reserved through IFA-approved lender reserves the Military Homeownership Assistance grant via IFA's Online Lender Portal at time of loan reservation; service-related documentation submitted with reservation., and are subject to availability.

  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.

Other programs in Statewide, Iowa

See every program in Statewide, Iowa →

90-second match

Not sure which you qualify for?

Answer 9 questions and we'll match you to every program you can actually use — in about 90 seconds. No SSN, no credit pull.

Find my programs