Upper Explorerland RPC First-Time Homebuyer Down Payment Assistance

What is Upper Explorerland RPC First-Time Homebuyer Down Payment Assistance?

Upper Explorerland RPC First-Time Homebuyer Down Payment Assistance is a forgivable loan for homebuyers in Iowa, administered by Upper Explorerland Regional Planning Commission (UERPC).

• UERPC uses Iowa Finance Authority funds to assist first-time homebuyers and qualified veterans with up to $24,999 in combined down payment and rehabilitation assistance in the cities of Decorah, Oelwein, Elkader, and Marquette.
• Up to $24,999 in down payment plus rehabilitation assistance.
• Qualified veterans eligible.
• Serves NE Iowa communities.
• Funding comes from Iowa Finance Authority (IFA) funds administered by UERPC.

How much assistance does it provide?

Upper Explorerland RPC First-Time Homebuyer Down Payment Assistance offers up to $24,999 in assistance.

• Amounts are the program's published maximums, not an offer — Upper Explorerland Regional Planning Commission (UERPC) determines any individual award.

Do you have to pay it back?

Upper Explorerland RPC First-Time Homebuyer Down Payment Assistance is a forgivable loan, so the balance is forgiven once the program's conditions are met.

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Upper Explorerland RPC First-Time Homebuyer Down Payment Assistance is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Upper Explorerland RPC First-Time Homebuyer Down Payment Assistance sets its income limit as follows: Income eligible based on household size and annual gross household income (IFA/HUD limits).

• 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?

Upper Explorerland RPC First-Time Homebuyer Down Payment Assistance can be used for Single Family.

Is there eligibility for specific groups?

Upper Explorerland RPC First-Time Homebuyer Down Payment Assistance names veterans 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?

Upper Explorerland RPC First-Time Homebuyer Down Payment Assistance serves buyers purchasing anywhere in Iowa.

• The program targets specific areas: Cities of Decorah, Oelwein, Elkader, and Marquette (NE Iowa / Allamakee, Clayton, Fayette, Howard, Winneshiek counties service region).

How do you apply?

Applications for Upper Explorerland RPC First-Time Homebuyer Down Payment Assistance go through Upper Explorerland Regional Planning Commission (UERPC), which publishes the current terms and the application steps on its own site.

1. 1

   Contact Upper Explorerland Regional Planning Commission (UERPC) to reserve funds

   Funds are reserved with the provider 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.