Updated 1/20/2026

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders, fill out this form here and I will connect you with one.

I've included all of the links and contact info needed to do this on your own, the form is meant to make it easier.

Connect with a DPA team

How Down Payment Assistance Works

I need to give a quick overview of how down payment assistance works. After that, the programs are listed.

With down payment assistance, you'll run into two different types:

• A grant
• A loan

A Grant

If we meet the qualifications up front, then it's money that does not need to be repaid.

A Loan

If the down payment assistance comes in the form of a loan, then pay attention to the three different types:

• Repayable
• Deferred
• Forgivable

Repayable is just as most imagine. It charges interest over a certain amount of time, with monthly payments until it's paid off.

Deferred loans usually don't require a monthly payment, and typically don't charge interest. It's due in full when you refinance, sell the home, or when it ceases to be your primary residence.

Forgivable loans will disappear if you meet the criteria, which usually comes down to keeping the home as your primary residence for a specific amount of time.

Okay with that, here are the programs!

Iowa

Iowa Finance Authority (IFA) FirstHome Program

• What It Offers: Provides up to $5,000 in down payment and closing cost assistance.
• Who Qualifies: First-time homebuyers and military veterans.
• Income Limits: Varies by county and household size.
• Repayment: Assistance is a second loan, forgivable after a set period.
• Website: https://opportunityiowa.gov/housing/homeownership-programs/firsthome-program

Military Homeownership Assistance Program

• Assistance: Offers a $5,000 grant to eligible service members and veterans for down payment and closing costs.
• Eligibility: Can be combined with the FirstHome and Homes for Iowans programs.
• Website: https://www.iowafinance.com/homeownership/mortgage-programs/military-homeownership-assistance-program/

Cedar Rapids First Time Home Buyer Program

• Assistance: Provides $1,000 to $14,999 in down payment and closing cost assistance, forgivable after five years.
• Eligibility: Applicants must meet income requirements and other criteria.
• Website: https://www.cedar-rapids.org/local_government/departments_a_-_f/community_development/housing_programs/first_time_home_buyer_program.php

Waterloo

• Up to $5,000 in assistance
• Assistance: Provides forgivable loans to non-traditional first-time homebuyers.
• Eligibility: Targets low- to moderate-income households underrepresented in homeownership.
• Website: https://cityofwaterlooiowa.com/departments/housing_authority/down_payment_program.php

Iowa City

• Assistance: Offers financial assistance to eligible first-time and repeat homebuyers in specific areas.
• Eligibility: Applicants must meet income requirements and other criteria.
• Website: https://www.icgov.org/dpa

Muscatine

• Assistance: Provides two options ranging from $2,500 to $20,000, depending on eligibility.
• Eligibility: Applicants must meet income requirements and other criteria.
• Website: https://www.muscatineiowa.gov/1753/Down-Payment-Assistance-Program

Council Bluffs

• Assistance: Administered by the Community Development Department to help individuals and families purchase homes.
• Eligibility: Applicants must meet income requirements and other criteria.
• Website: https://www.councilbluffs-ia.gov/2537/Down-Payment-Assistance

Davenport

• Assistance: Provides a grant of up to $10,000 (covering up to 50% of the required down payment and 100% of reasonable closing costs).
• Eligibility: First-time homebuyers (or no ownership in 3 years) meeting income limits.
• Website: https://www.davenportiowa.com/government/departments/community_economic_development/housing_programs

Dubuque

• Assistance: Provides a $5,000 zero-interest loan (repaid over 8 years). Very low-income buyers may qualify for up to $25,000.
• Eligibility: First-time buyers with household income below 80% AMI.
• https://www.cityofdubuque.org/2787/Homebuyer-Programs

Updated 1/20/2026

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders, fill out this form here and I will connect you with one.

I've included all of the links and contact info needed to do this on your own, the form is meant to make it easier.