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SICOG / SIDG Housing Revolving Loan Fund (H-RLF) Down Payment Assistance

Southern Iowa Council of Governments (SICOG) / Southern Iowa Development Group, Inc. (SIDG) · Creston, Iowa

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Assistance

$6,500

The maximum the program publishes — not an offer

Repayment

Deferred

No payments until the home is sold or refinanced

What is SICOG / SIDG Housing Revolving Loan Fund (H-RLF) Down Payment Assistance?

SICOG / SIDG Housing Revolving Loan Fund (H-RLF) Down Payment Assistance is a deferred second loan for homebuyers in Creston, Iowa, administered by Southern Iowa Council of Governments (SICOG) / Southern Iowa Development Group, Inc. (SIDG).

  • The Southern Iowa Development Group, Inc. Housing Revolving Loan Fund (SIDG H-RLF), administered through SICOG, helps first-time homebuyers in SIDG's eight-county region overcome the down payment obstacle. Loans of up to $6,500 are made for down payment assistance only and must be matched dollar-for-dollar with the borrower's own funds. The loan carries a fixed 2% interest rate over a seven-year term, with the first two years deferred of interest and payments. A $100 application fee and 1% closing cost apply. The home must be the borrower's principal residence. Each loan requires a 25% local match (from a local bank, development group, realtor, city, county, or private individual). A first-time homebuyer is someone who has not owned or purchased a home in the last three years.
  • Down payment assistance loan up to $6,500.
  • Fixed 2% interest with first two years deferred.
  • Seven-year term.
  • Funding comes from Southern Iowa Development Group, Inc. Housing Revolving Loan Fund (SIDG H-RLF); requires 25% local match (bank, development group, realtor, city, county, or private individual).

How much assistance does it provide?

SICOG / SIDG Housing Revolving Loan Fund (H-RLF) Down Payment Assistance offers up to $6,500 in assistance.

  • Buyer contribution: Borrower must match the loan dollar-for-dollar with their own funds (e.g., up to $6,500 borrower contribution for a $6,500 loan).
  • Amounts are the program's published maximums, not an offer — Southern Iowa Council of Governments (SICOG) / Southern Iowa Development Group, Inc. (SIDG) determines any individual award.

Do you have to pay it back?

SICOG / SIDG Housing Revolving Loan Fund (H-RLF) Down Payment Assistance is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by Repayable loan: 7-year term with the first two years deferred of interest and payments; principal and 2% interest repaid over the remaining term. Not forgivable. Official source does not state acceleration on sale/refinance/loss of owner-occupancy.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

SICOG / SIDG Housing Revolving Loan Fund (H-RLF) Down Payment Assistance is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • Residency: Property must be located in one of SIDG's eight counties (Adair, Adams, Clarke, Decatur, Madison, Ringgold, Taylor, Union) where local match has been provided
  • DRAFT (dpa-gap-finder 2026-06-13): staged from primary sources (sicog.com/housing + H-RLF brochure); verify before publishing. Distinct from the SW Iowa SWIPCO program. Income table, credit/DTI, max purchase price, and education requirements not published on the official source; left blank.

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?

SICOG / SIDG Housing Revolving Loan Fund (H-RLF) Down Payment Assistance sets its income limit as follows: No hard income cap is published; SIDG can generally make a loan to a borrower at any income level, but at least 51% of first-time homebuyers assisted must meet low-to-moderate income guidelines. Specific income tables by household size are not published on the official source.

  • 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?

SICOG / SIDG Housing Revolving Loan Fund (H-RLF) Down Payment Assistance can be used for Single Family.

Where does it apply?

SICOG / SIDG Housing Revolving Loan Fund (H-RLF) Down Payment Assistance serves buyers purchasing in Creston, Iowa.

How do you apply?

Applications for SICOG / SIDG Housing Revolving Loan Fund (H-RLF) Down Payment Assistance go through Southern Iowa Council of Governments (SICOG) / Southern Iowa Development Group, Inc. (SIDG), which publishes the current terms and the application steps on its own site.

  1. Contact Southern Iowa Council of Governments (SICOG) / Southern Iowa Development Group, Inc. (SIDG) to reserve funds

    Funds are reserved through Buyer typically contacts a participating local financial institution or realtor, which conducts the initial loan review and signs the SIDG loan application; inquiry form submitted to SICOG at (641) 782-8491, and are subject to availability.

  2. 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.

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