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Cedar Rapids Bank & Trust Home$tart Grant

Administered by: Cedar Rapids Bank & Trust (FHLB Des Moines member) · Nonprofit · Grant

Funding status: Seasonal

How much assistance

Up to $15,000 (Grant)

Grant — no repayment required if owner-occupancy is maintained for 5 years. Pro-rated recapture if sold within 5 years.

Eligibility

Income limits: At or below 80% of Area Median Income.
First-time buyer required: Yes — Has not owned a home in the last three years.
Geographic restrictions: Home must be located within Cedar Rapids Bank & Trust lending area (Cedar Rapids metro and surrounding eastern Iowa communities).
Homebuyer education required: Yes

How to Apply for Cedar Rapids Bank & Trust Home$tart Grant

Step 1: Contact Cedar Rapids Bank & Trust mortgage department to confirm current Home$tart availability. Complete a CRBT-approved homebuyer education course. Apply for a first mortgage through CRBT. CRBT will submit the Home$tart grant application to FHLB Des Moines on your behalf. If approved, the grant funds are wired to closing. Sign the retention agreement committing to 5 years of owner-occupancy.

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Notes

Home$tart is a Federal Home Loan Bank of Des Moines program offered through member banks including Cedar Rapids Bank & Trust. Funds are released annually (typically March) and run out within weeks. Requires completion of CRBT-approved homebuyer education.