Polk County Down Payment Assistance Program

Polk County Down Payment Assistance Program is a deferred second loan for homebuyers in Polk County, Iowa, administered by Neighborhood Finance Corporation (NFC) on behalf of Polk County. Polk County committed $5 million to a down payment assistance program enabling eligible low-income homebuyers to receive a $30,000 deferred loan at 0.00% interest. The deferred loan is paired with a fixed-rate first mortgage from a participating lender, and is administered by Neighborhood Finance Corporation (NFC). The loan requires no payments and is not repaid until the home is sold, is no longer the owner's primary residence, or in some instances when refinanced. Available as long as funds remain. $30,000 down payment assistance. 0% interest. Deferred (no monthly payments). Repaid only on sale/non-occupancy/refinance. Paired with fixed-rate first mortgage. Funding comes from Polk County ($5 million commitment).

Polk County Down Payment Assistance Program offers up to $30,000 in assistance. Amounts are the program's published maximums, not an offer — Neighborhood Finance Corporation (NFC) on behalf of Polk County determines any individual award.

Polk County Down Payment Assistance Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Repaid when the home is sold, is no longer the owner's primary residence, or (in some instances) when refinanced. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Polk County Down Payment Assistance Program is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required. Residency requirement: Property must be an owner-occupied principal residence in Polk County.

Polk County Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size. Household annual income at or below 80% of the area median income (specific dollar limits by household size are published in the program's income-limit table). 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.

Polk County Down Payment Assistance Program can be used for Single Family.

Polk County Down Payment Assistance Program serves homebuyers purchasing in Polk County, Iowa.

Applications for Polk County Down Payment Assistance Program go through Neighborhood Finance Corporation (NFC) on behalf of Polk County, which publishes the current terms and the application steps on its own site. Funds are reserved through Apply through a participating first-mortgage lender. 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.