See programs you qualify for

By Tyler Thompson · Licensed Real Estate Agent · Updated April 23, 2026

Homebuyer Programs in Ankeny, IA (2026)

Population: 76,727 | Median home price: $345,000 | Est. closing costs: $7,000 - $10,500

Ankeny is one of the fastest-growing suburbs in the Des Moines metro and sits in Polk County, with a median home price of about $345,000. First-time buyers here can stack significant assistance. The Polk County Down Payment Assistance Program offers a $30,000 deferred 0% loan to qualified buyers at or below 80% AMI, and the Iowa Finance Authority layers on the FirstHome Plus $2,500 grant or the IFA 2nd Loan Program worth up to 5% of the purchase price. The Financial Plus Credit Union First-Time Homebuyer Grant adds another $5,000 in down payment and closing cost help, and the Metro Home Improvement Program provides up to $16,820 as a 5-year forgivable loan for renovations after purchase. Combined with federal FHA, VA, and USDA options, most Ankeny buyers can bring very little of their own cash to closing.

City Programs in Ankeny

Program Name	Type	Amount	First-Time Only	Details
Metro Home Improvement Program	Forgivable Loan	Up to $16,820 (minimum $500)	No	View →

Metro Home Improvement Program

Type:: Forgivable Loan
Amount:: Up to $16,820 (minimum $500)
First-time only:: No

County Programs in Polk County

Program Name	Type	Amount	First-Time Only	Details
Polk County Down Payment Assistance Program	Deferred Loan	$30,000	No	View →

Polk County Down Payment Assistance Program

Type:: Deferred Loan
Amount:: $30,000
First-time only:: No

State Programs in Iowa

Program Name	Type	Amount	First-Time Only	Details
FirstHome Plus Grant	Grant	$2,500 grant	Yes	View →
FirstHome Program (Iowa)	Government-Insured Mortgage	Low-rate 30-year mortgage with 3% down	Yes	View →
Homes for Iowans Program	Government-Insured Mortgage	Low-rate 30-year mortgage available to first-time and repeat buyers	No	View →
IFA 2nd Loan Program	Deferred Loan	Up to 5% of purchase price or appraised value (whichever is lower), no maximum cap	Yes	View →
Iowa Mortgage Credit Certificate (MCC)	Tax Credit	Up to $2,000 federal tax credit per year (50% of annual mortgage interest paid)	Yes	View →
Military Homeownership Assistance Program	Grant	$5,000 grant	No	View →

FirstHome Plus Grant

Type:: Grant
Amount:: $2,500 grant
First-time only:: Yes

FirstHome Program (Iowa)

Type:: Government-Insured Mortgage
Amount:: Low-rate 30-year mortgage with 3% down
First-time only:: Yes

Homes for Iowans Program

Type:: Government-Insured Mortgage
Amount:: Low-rate 30-year mortgage available to first-time and repeat buyers
First-time only:: No

IFA 2nd Loan Program

Type:: Deferred Loan
Amount:: Up to 5% of purchase price or appraised value (whichever is lower), no maximum cap
First-time only:: Yes

Iowa Mortgage Credit Certificate (MCC)

Type:: Tax Credit
Amount:: Up to $2,000 federal tax credit per year (50% of annual mortgage interest paid)
First-time only:: Yes

Military Homeownership Assistance Program

Type:: Grant
Amount:: $5,000 grant
First-time only:: No

Federal Programs

Program Name	Type	Amount	First-Time Only	Details
FHA Loans	Government-Insured Mortgage	Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)	No	View →
Good Neighbor Next Door (HUD)	Government Property Sale Program	50% discount off the list price of HUD-owned homes	Yes	View →
Home Possible Mortgage (Freddie Mac)	Government-Guaranteed Mortgage	Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment	No	View →
HomeReady Mortgage (Fannie Mae)	Government-Guaranteed Mortgage	Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment	No	View →
HUD $100 Down Program	FHA-Financed HUD REO Purchase	Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.	No	View →
USDA Rural Development Loans	Government-Guaranteed Mortgage	100% financing (no down payment required); loan amount up to appraised value	No	View →
VA Loans	Government-Guaranteed Mortgage	No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)	No	View →

FHA Loans

Type:: Government-Insured Mortgage
Amount:: Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
First-time only:: No

Good Neighbor Next Door (HUD)

Type:: Government Property Sale Program
Amount:: 50% discount off the list price of HUD-owned homes
First-time only:: Yes

Home Possible Mortgage (Freddie Mac)

Type:: Government-Guaranteed Mortgage
Amount:: Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
First-time only:: No

HomeReady Mortgage (Fannie Mae)

Type:: Government-Guaranteed Mortgage
Amount:: Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
First-time only:: No

HUD $100 Down Program

Type:: FHA-Financed HUD REO Purchase
Amount:: Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
First-time only:: No

USDA Rural Development Loans

Type:: Government-Guaranteed Mortgage
Amount:: 100% financing (no down payment required); loan amount up to appraised value
First-time only:: No

VA Loans

Type:: Government-Guaranteed Mortgage
Amount:: No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
First-time only:: No

Nonprofit Programs

Program Name	Type	Amount	First-Time Only	Details
Financial Plus Credit Union First-Time Homebuyer Grant	Grant	$5,000 grant	Yes	View →
Greater Des Moines Habitat for Humanity Homeownership Program	Zero-Interest Loan	Affordable mortgage with below-market interest rate	No	View →

Financial Plus Credit Union First-Time Homebuyer Grant

Type:: Grant
Amount:: $5,000 grant
First-time only:: Yes

Greater Des Moines Habitat for Humanity Homeownership Program

Type:: Zero-Interest Loan
Amount:: Affordable mortgage with below-market interest rate
First-time only:: No

Free eligibility check

17 programs available in Ankeny. See which ones you qualify for.

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How to Apply

Step 1: Check your eligibility. Most local and state assistance is capped at 80% of the Polk County Area Median Income. Iowa Finance Authority income limits range from $99,800 to $173,460 depending on county and household size, so most middle-income Ankeny buyers qualify for at least the state programs.

Step 2: Complete homebuyer education. The Polk County Down Payment Assistance Program requires 8 hours of homebuyer education before closing. HOME, Inc. in Des Moines is a HUD-approved counseling agency serving all of Iowa and can deliver the required course. Neighborhood Finance Corporation also offers qualifying education.

Step 3: Contact Neighborhood Finance Corporation to start the Polk County DPA application. NFC administers the $30,000 deferred-loan program for Polk County. Call the NFC Des Moines office at 515-246-0010 to verify eligibility and get on the application path.

Step 4: Get pre-approved with an Iowa Finance Authority participating lender. IFA programs (FirstHome, FirstHome Plus, Homes for Iowans, IFA 2nd Loan, Mortgage Credit Certificate) only work through IFA-approved lenders. Ask specifically for a loan officer experienced layering IFA programs with the Polk County DPA.

Step 5: Find a home in Ankeny within program limits. The Polk County DPA requires an owner-occupied primary residence and a fixed-rate first mortgage. The Metro Home Improvement Program requires that the property be assessed at or below $300,000 to qualify for post-closing repair assistance.

Step 6: Submit applications in coordination with your lender. Your lender will coordinate the Polk County DPA, IFA second loan, and any credit union or FHLB grant funding so everything closes on the same day.

Step 7: After closing, explore post-purchase programs. If your new Ankeny home needs repairs, contact Mid Iowa Planning Alliance (MIPA) for the Metro Home Improvement Program or reach out to Amy Bryant at the City of Ankeny at abryant@ankenyiowa.gov or 515-963-3542.

Frequently Asked Questions

How much down payment assistance can I get in Ankeny?+

Eligible buyers can stack the Polk County Down Payment Assistance Program ($30,000 deferred loan), the Iowa Finance Authority FirstHome Plus Grant ($2,500), the IFA 2nd Loan Program (up to 5% of purchase price), and the Financial Plus Credit Union First-Time Homebuyer Grant ($5,000). Combined with federal FHA, VA, or USDA low-down-payment loans, most Ankeny buyers under 80% AMI can effectively close with little to no cash from their own pocket.

Do I have to be a first-time homebuyer?+

It depends on the program. The IFA FirstHome Program and FirstHome Plus Grant require first-time buyer status (no home ownership in the past three years). The Homes for Iowans Program and the IFA 2nd Loan Program are open to both first-time and repeat buyers. The Polk County Down Payment Assistance Program focuses on income eligibility (at or below 80% AMI) and does not require first-time buyer status, though you cannot own another property at closing.

What is the maximum home price in Ankeny for these programs?+

Iowa Finance Authority programs apply IFA purchase price limits that vary by county and are typically well above Ankeny-s $345,000 median, so most Ankeny homes qualify. The Polk County DPA does not publish a fixed purchase price limit but requires a fixed-rate first mortgage and owner-occupied primary residence. The Metro Home Improvement Program is only available on homes assessed at or below $300,000.

What homebuyer education is required?+

The Polk County DPA requires 8 hours of homebuyer education prior to closing. HOME, Inc., a HUD-approved counseling agency headquartered in Des Moines, serves all of Iowa including Ankeny and delivers the required course. Neighborhood Finance Corporation also offers qualifying courses. Most IFA loan products require an approved homebuyer education course as well.

Can I combine the Polk County $30,000 DPA with state IFA programs?+

Yes. The Polk County DPA is specifically designed to pair with Iowa Finance Authority first mortgages. A typical Ankeny stack looks like an IFA first mortgage, the $30,000 Polk County deferred loan, and either the FirstHome Plus $2,500 grant or the IFA 2nd Loan up to 5%. Your IFA-participating lender coordinates all sources to close on the same day.

Does Greater Des Moines Habitat for Humanity build in Ankeny?+

Yes. Greater Des Moines Habitat for Humanity completed its first Ankeny build at Kimberley Crossing in northeast Ankeny (four duplexes) and has also delivered critical home repair projects in the city. Qualified applicants partner with Habitat to buy a home with an affordable, below-market interest rate mortgage. Contact Greater Des Moines Habitat at 515-471-8686.