First Time Home Buyer Iowa Requirements

First Time Home Buyer Iowa Requirements. What kind of home loan are available. • there are no maximum contribution limits (only deductible limits)

You must occupy the home as your primary residence within 60 days of closing. Down payment assistance may be available in your area. This fha loan program was created to help increase homeownership.

Contributions cannot remain in the account for longer than 10 years

The only exceptions are for military members or veterans (not dishonorably discharged) who have not already used the ifa’s programs, and for homebuyers in targeted areas. Find your down payment option. This is a popular option for first time home buyers because it offers lower minimum requirements. Down payment assistance may be available in your area.