Southwest Iowa Housing Trust Fund Homeownership Assistance (SWIPCO)

What is Southwest Iowa Housing Trust Fund Homeownership Assistance (SWIPCO)?

Southwest Iowa Housing Trust Fund Homeownership Assistance (SWIPCO) is a forgivable loan for homebuyers in Atlantic, Iowa, administered by Southwest Iowa Planning Council (SWIPCO) / Southwest Iowa Housing Trust Fund (SWIHTF).

• The Southwest Iowa Housing Trust Fund, administered by SWIPCO, provides homeownership assistance of up to 7% of the purchase price (max $8,000) for buyers of new or existing homes in a 7-county SW Iowa region. The first $5,000 is a 5-year forgivable loan (20%/yr); any amount above is a 1% loan for up to 5 years. 2026 round opened January 2 and runs until funds are exhausted.
• Up to $8,000 (7% of price) for down payment.
• First $5,000 forgivable over 5 years.
• New and existing homes eligible.
• First-approved first-served.
• Funding comes from Southwest Iowa Housing Trust Fund (Iowa Finance Authority / state housing trust fund).

How much assistance does it provide?

Southwest Iowa Housing Trust Fund Homeownership Assistance (SWIPCO) offers up to $8,000 in assistance.

• Award tiers: Tier 1: first $5,000 as 5-year forgivable loan (20%/yr, 0% interest). Tier 2: amount above $5,000 (up to $8,000 total) as 1% loan up to 5 years.
• Buyer contribution: Homebuyer must submit a signed purchase agreement with their application; allow minimum two weeks before closing for approval.
• Amounts are the program's published maximums, not an offer — Southwest Iowa Planning Council (SWIPCO) / Southwest Iowa Housing Trust Fund (SWIHTF) determines any individual award.

Do you have to pay it back?

Southwest Iowa Housing Trust Fund Homeownership Assistance (SWIPCO) is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by First $5,000 forgiven at 20% per year over 5 years; remaining amount is a 1% repayable loan up to 5 years.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Southwest Iowa Housing Trust Fund Homeownership Assistance (SWIPCO) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Southwest Iowa Housing Trust Fund Homeownership Assistance (SWIPCO) sets its income limit as follows: Income eligible (low-to-moderate income) per IFA/SWIHTF guidelines.

• 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?

Southwest Iowa Housing Trust Fund Homeownership Assistance (SWIPCO) can be used for Single Family.

• New construction is eligible.

Where does it apply?

Southwest Iowa Housing Trust Fund Homeownership Assistance (SWIPCO) serves buyers purchasing in Atlantic, Iowa.

• The program targets specific areas: Cass, Fremont, Harrison, Mills, Montgomery, Page, and Shelby counties (SWIPCO region).

How do you apply?

Applications for Southwest Iowa Housing Trust Fund Homeownership Assistance (SWIPCO) go through Southwest Iowa Planning Council (SWIPCO) / Southwest Iowa Housing Trust Fund (SWIHTF), which publishes the current terms and the application steps on its own site.

1. 1

   Contact Southwest Iowa Planning Council (SWIPCO) / Southwest Iowa Housing Trust Fund (SWIHTF) to reserve funds

   Funds are reserved through 2026 application period opens January 2; remains open until funds exhausted on first-approved, first-served basis, and are subject to availability.

2. 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.