See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 23, 2026
Homebuyer Programs in Waukee, IA (2026)
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
| 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 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).
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.
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.
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.
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.
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.
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.