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Get Matched Free →IFA 2nd Loan Program
Funding status: Active
How much assistance
Up to 5% of purchase price or appraised value (whichever is lower), no maximum cap
Not forgivable. Balance is due at sale, refinance, or when the first mortgage is paid off. No monthly payments and no interest.
Eligibility
- Income limits: Varies by county and household size. Same limits as FirstHome.
- Purchase price limit: $510,000
- First-time buyer required: Yes — Have not owned a primary residence in the past 3 years.
- Credit score minimum: 640
- Geographic restrictions: Home must be in Iowa. Cannot be combined with the FirstHome Plus grant on the same transaction.
- Homebuyer education required: Yes
How to Apply for IFA 2nd Loan Program
Apply through an IFA participating lender alongside the FirstHome mortgage. Funds are disbursed at closing as a silent second mortgage.
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