FirstHome and FirstHome Plus Programs

FirstHome and FirstHome Plus Programs This Iowa down payment program offers first time buyers a 25 or 30 year loan. The Plus program offers up to $2,500 in grant funding to be used for Iowa down payment and/or closing costs. To qualify for both: there is no minimum Iowa down payment requirement, homes cannot cost more than $250,000, and Iowa borrowers must occupy the house as their primary residence. Iowa borrowers must have a minimum credit score of 640, a maximum debt to income ratio of 45 percent, and they must show an ability to repay the loan.

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