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 → |
| 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 → |
| 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
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.
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.
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.
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.
Submit your application. Your lender will collect documents, verify eligibility across every layered program, and coordinate with the state, county, and NFC funding sources.
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.