See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 23, 2026
Homebuyer Programs in Ankeny, IA (2026)
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 → |
- 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 → |
- 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 → |
- Type:
- Grant
- Amount:
- $2,500 grant
- First-time only:
- Yes
- Type:
- Government-Insured Mortgage
- Amount:
- Low-rate 30-year mortgage with 3% down
- First-time only:
- Yes
- Type:
- Government-Insured Mortgage
- Amount:
- Low-rate 30-year mortgage available to first-time and repeat buyers
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Up to 5% of purchase price or appraised value (whichever is lower), no maximum cap
- First-time only:
- Yes
- Type:
- Tax Credit
- Amount:
- Up to $2,000 federal tax credit per year (50% of annual mortgage interest paid)
- First-time only:
- Yes
- 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 → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | 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 → |
- 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
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- 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
- 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
- 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
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- 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 → |
- Type:
- Grant
- Amount:
- $5,000 grant
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- Affordable mortgage with below-market interest rate
- First-time only:
- No
How to Apply
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.
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.
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.
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.
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.
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.
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.