See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 22, 2026
Homebuyer Programs in Des Moines, IA (2026)
Des Moines is the capital and largest city of Iowa, with a population of about 212,000 and a median home price of roughly $217,000 — well below the national median. Buyers in Des Moines have unusually deep stacking options. The Polk County Down Payment Assistance Program offers a $30,000 zero-interest deferred loan for households at or below 80% of area median income, and Neighborhood Finance Corporation layers a separate $15,000 zero-interest deferred loan on top for buyers earning up to 100% AMI. At the state level, the Iowa Finance Authority FirstHome Plus grant adds $2,500 (or up to 5% of the purchase price through the IFA 2nd Loan), and the Iowa Mortgage Credit Certificate delivers up to $2,000 per year in federal tax credits. Combined with federal FHA, VA, and USDA loans, a qualified Des Moines buyer can stack more than $47,000 in down payment and closing cost help while keeping monthly payments affordable.
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 → |
| 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:
- 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 → |
| NFC Advantage Purchase Loan | Forgivable Loan | First mortgage up to $250,000, second mortgage up to 15% LTV, plus forgivable renovation loan up to $10,000 | No | View → |
| NFC Neighborhood Reinvest Down Payment Assistance | Deferred Loan | $15,000 | 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
- Type:
- Forgivable Loan
- Amount:
- First mortgage up to $250,000, second mortgage up to 15% LTV, plus forgivable renovation loan up to $10,000
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- $15,000
- First-time only:
- No
How to Apply
Step 1: Check your eligibility. For the Polk County Down Payment Assistance Program ($30,000 loan), your household income must be at or below 80% of area median income for Polk County. NFC's Neighborhood Reinvest program allows up to 100% AMI. Iowa Finance Authority FirstHome-based programs use county-specific income limits ranging from $96,500 to $131,790.
Step 2: Complete homebuyer education. Eight hours of HUD-approved homebuyer education is required for the Polk County program, and IFA programs also require education. Contact HOME, Inc. at 515-243-1277 or Greater Des Moines Habitat for Humanity at 515-471-8686 for free, HUD-certified classes.
Step 3: Get pre-approved with a participating lender. The Polk County program is administered through 16 participating lenders, with Neighborhood Finance Corporation as the lead administrator at 515-246-0010. Tell the lender you want to use Iowa Finance Authority's FirstHome or Homes for Iowans program and stack it with local assistance.
Step 4: Find an eligible home. The home must be owner-occupied as your primary residence. For IFA programs the purchase price limit is $510,000 ($624,000 in targeted areas). Polk County assistance requires you not own any other property at closing.
Step 5: Submit your application. Your lender will collect documents, verify eligibility across every layered program, and coordinate with the state, county, and NFC funding sources.
Step 6: Close and move in. Grant, forgivable, and deferred funds are applied at the closing table. You must occupy the home as your primary residence; selling or moving out early may trigger repayment of the deferred loans.
Frequently Asked Questions
How much down payment assistance can I get in Des Moines?+−
Do I have to be a first-time homebuyer?+−
What is the maximum home price?+−
What homebuyer education is required?+−
What if I live outside the City of Des Moines but still in Polk County?+−
What if I am a veteran or active-duty military?+−
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