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Iowa City South District Home Investment Partnership Program

Administered by: City of Iowa City Neighborhood & Development Services · City · Forgivable Loan

Funding status: Active

How much assistance

Up to $35,000 forgivable rehab loan plus up to $25,000 in down payment assistance (Forgivable Loan)

$35,000 rehab loan fully forgiven after 10 years of owner-occupancy.

Eligibility

  • Income limits: Household income at or below 80% of Area Median Income
  • First-time buyer required: No
  • Geographic restrictions: Program is limited to City-purchased, rehabilitated duplex units in the South District project area (concentrating on Taylor Drive and Davis Street).
  • Homebuyer education required: Yes

How to Apply for Iowa City South District Home Investment Partnership Program

Step 1: Applications open when rehabilitated duplex units become available. Contact Iowa City Neighborhood Services to join the interest list and request the application. All applicants must complete free homebuyer education classes before purchase.

Visit program website

Notes

City of Iowa City acquires duplexes in the South District, rehabilitates them, and sells to income-eligible buyers. The $35,000 rehab value is included in the purchase price as a forgivable loan; $25,000 DPA is provided through federal HOME funding.

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