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

Homebuyer Programs in Waukee, IA (2026)

Population: 32,000 | Median home price: $360,000 | Est. closing costs: $7,000 - $11,000

Skyline of Waukee, IA

Waukee is the fastest-growing city in Iowa — a western Des Moines suburb primarily in Dallas County (with a small sliver in Polk County) and a population around 32,000 and climbing fast. Zillow and Census data put the median home value around $360,000, above state averages. Waukee does not run its own city-funded down payment assistance program, but it has been unusually proactive on affordability. The City partnered with Greater Des Moines Habitat for Humanity on Walnut Crossing — a 48-unit townhome development (Habitat's largest ever) that broke ground in April 2025 and will serve families earning 30-80% of area median income. Greater Des Moines Habitat's Homeownership: Direct program covers Polk, Dallas, and Jasper Counties, combining down payment assistance with a low-interest mortgage. Financial Plus Credit Union adds a $5,000 first-time homebuyer grant available statewide. Iowa Finance Authority layers in a $2,500 FirstHome Plus grant, the IFA 2nd Loan Program for up to 5% of purchase price, and the Iowa Mortgage Credit Certificate worth up to $2,000 per year in federal tax savings. Qualifying buyers can typically stack $10,000 to $25,000 in assistance on a traditional open-market purchase, with substantially more assistance available through Habitat's Walnut Crossing and Direct programs.

State Programs in Iowa

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

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

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

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How to Apply

Step 1: Check your eligibility. Most DPA programs cap income at 80% AMI. For a family of four in the Des Moines metro, that is roughly $83,440 (which is the Habitat eligibility cap). Iowa state programs like Homes for Iowans allow higher income (up to about $139,580).

Step 2: Complete homebuyer education. HOME, Inc. is the only HUD-certified housing counseling agency in Central Iowa and delivers the required 8-hour eHome course online at your own pace. Register at homeincdsm.org or call 515-243-1277.

Step 3: Contact the right local partner. For Walnut Crossing or the Direct program in Waukee, call Greater Des Moines Habitat for Humanity at 515-471-8686 or visit gdmhabitat.org/programs-services/waukee. For the Financial Plus Credit Union grant, call their loan hotline at 515-669-3380.

Step 4: Get pre-approved with an IFA participating lender. Layering the FirstHome Program, IFA 2nd Loan, and FirstHome Plus grant requires all three to be originated through the same IFA-approved lender. Ask about the Iowa Mortgage Credit Certificate at the same time.

Step 5: Find a home within program limits. Waukee's $360,000 median home value is below the IFA purchase price cap of $544,000 (standard areas), so state programs should stack comfortably. Habitat Direct requires the home to meet Habitat's affordability standards.

Step 6: If buying in the Polk County portion of Waukee, ask your lender about the Polk County $30,000 DPA. That program is for Polk County properties only — most of Waukee is in Dallas County, so confirm the parcel's county with your title company before assuming eligibility.

Step 7: Submit your application and close. Plan on 45-60 days from application to closing. Keep records of all assistance received — some programs carry multi-year owner-occupancy requirements.

Frequently Asked Questions

How much down payment assistance can I get in Waukee?+
On a traditional open-market purchase, qualifying first-time buyers can stack the Financial Plus Credit Union $5,000 grant with Iowa Finance Authority's $2,500 FirstHome Plus grant and the IFA 2nd Loan Program worth up to 5% of purchase price — typically $10,000 to $25,000 combined. For buyers earning 30-80% AMI, Greater Des Moines Habitat's Walnut Crossing townhome development and Homeownership: Direct program offer deeper assistance, including an affordable mortgage capped at 30% of monthly income.
Does Waukee have its own city DPA program?+
No. The City of Waukee does not currently operate a city-funded down payment assistance program. However, the City has been active on affordability — it partnered with Greater Des Moines Habitat for Humanity on the 48-unit Walnut Crossing townhome development, which broke ground in April 2025. Waukee is only the second Iowa city to have a multi-family build with Habitat.
Does the Polk County $30,000 DPA apply to Waukee?+
Only conditionally. Waukee is primarily in Dallas County, with a small portion in Polk County. The Polk County Down Payment Assistance Program requires the property to be located in Polk County. If your Waukee address is in the Polk County portion of the city, you may qualify — confirm with your title company or lender. The rest of Waukee relies on state and nonprofit programs.
What is Walnut Crossing and how do I apply?+
Walnut Crossing is a 48-unit townhome development by Greater Des Moines Habitat for Humanity in Waukee — the largest Habitat project in Central Iowa history. Qualifying homebuyers earn 30-80% of area median income and will pay no more than 30% of monthly income on their mortgage. A family of four with income of $83,440 or less can qualify. Call Greater Des Moines Habitat at 515-471-8686 or visit gdmhabitat.org/programs-services/waukee to apply.
Do I have to be a first-time homebuyer?+
Most of the largest programs require it. The Financial Plus Credit Union grant and the Iowa FirstHome Program both require first-time buyer status (no ownership in the past three years). Exceptions: Iowa Homes for Iowans is available to repeat buyers, Greater Des Moines Habitat does not require first-time buyer status (only financial need and willingness to partner), and the Military Homeownership Assistance Program is open to eligible service members regardless of prior ownership.
What is the maximum home price in Waukee?+
Iowa Finance Authority sets the purchase price cap at $544,000 in standard areas (up to $665,000 in targeted areas). Waukee's median home value of about $360,000 is well under that limit, so state programs should stack comfortably. Habitat Walnut Crossing townhomes are priced to the income tier, not the open market — call Habitat for current pricing.

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