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).

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

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.

SICOG / SIDG Housing Revolving Loan Fund (H-RLF) Down Payment Assistance 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. Residency requirement: 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. 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.

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.

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

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

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. 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. 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.