Washington Neighborhood Homebuyer Loan Program (City of Dubuque)

What is Washington Neighborhood Homebuyer Loan Program (City of Dubuque)?

Washington Neighborhood Homebuyer Loan Program (City of Dubuque) is a deferred second loan for homebuyers in Dubuque, Iowa, administered by City of Dubuque Housing & Community Development Department.

• A place-based City of Dubuque program providing long-term, no-interest (0%) loans in varying amounts (based on household size and annual income) to buy any owner-occupied single-family or duplex home within the Washington Neighborhood (11th Street to 32nd Street, Elm to Central).
• 0% interest long-term loan in varying amounts based on household size and income.
• Targeted to the Washington Neighborhood.

Do you have to pay it back?

Washington Neighborhood Homebuyer Loan Program (City of Dubuque) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

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

Who qualifies?

Washington Neighborhood Homebuyer Loan Program (City of Dubuque) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Washington Neighborhood Homebuyer Loan Program (City of Dubuque) sets its income limit as follows: Loan amount varies by household size and annual income (income guidelines not published; confirm with City).

• 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?

Washington Neighborhood Homebuyer Loan Program (City of Dubuque) can be used for Single Family and Duplex.

Where does it apply?

Washington Neighborhood Homebuyer Loan Program (City of Dubuque) serves buyers purchasing in Dubuque, Iowa.

• The program targets specific areas: Washington Neighborhood: 11th Street to 32nd Street, Elm to Central, Dubuque.
• Targeted neighborhoods: Washington Neighborhood, Dubuque.

How do you apply?

Applications for Washington Neighborhood Homebuyer Loan Program (City of Dubuque) go through City of Dubuque Housing & Community Development Department, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Finally Home! homebuyer education.

2. 2

   Contact City of Dubuque Housing & Community Development Department to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   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.