FIRST TIME HOME BUYER PROGRAMS IOWA

FHA First Time Home Buyer Programs have been helping Iowa residents since 1934 

 

FIRST TIME HOME BUYER PROGRAMS IOWA

A knowledgeable & licensed Iowa 'First Time Home Buyer Program' Specialist can offer you a better loan including:

  • Low down payments (if any)

  • 24 Hour Pre-Approval

  • Low closing costs

  • Easier credit qualifying

  • Access to many of the unique

    State Specific Federal Government Backed Programs that may be available to Iowa First Time Buyers.

Iowa First Time Home Buyer Loan

If you’re buying your first home, then this is the perfect place to start. And don't fear: We have the first time home buyer specialist that answer all the questions you want to ask, — and, those you haven't thought of yet.  home easier and less expensive than any other types of real estate mortgage home loan programs.

Buy a home in Iowa with help from a Family Member

When buying a home, almost every lender will want to know where your down payment came from. If someone in your family is helping you with that down payment, it is called a Gift of Equity, a special FHA loan program.

Iowa USDA Home Loan

If you live in a small town, rural area or farmlands situated in a location approved by USDA Rural Development, you may be able to purchase a home with up to 100% financing. The United States Department of Agriculture (USDA) were designed to encourage rural development, meaning city homes are excluded. United States Department of Agriculture (USDA) sets lending guidelines for the program, which is why it can feel confident in your home financing decisions with step-by-step guidance from an experienced USDA Mortgage Banker.

 

Buying a 'Fixer Upper' in Iowa & Adding Additional Funds for Home Improvements

An FHA 203K Purchase and Rehab Loan can work in this situation. The 203K has many advantages. Put simply it is a mortgage insured by FHA that allows a home buyer to add rehab funds into a mortgage.

VA Veterans Home Loans in Iowa

The VA Home Loan is a Federal Program designed for United States Armed Forces, Military Retiree, Veterans, National Guard and Reservists, as well as Spouses.

Iowa Construction Home Loan

At last, a single loan that lets borrowers finance the construction of their home. You can even 'bundle the purchase of the land' land with your construction loan under what is called the 'One Time Close' loan. Guidelines for this program, can be found by clicking here: 'FHA Construction Loan Programs'  or here: 'VA Construction Loan Programs'

Buying a 2 Family or 3 Family Investment Property in Iowa

You can buy from a duplex residence all the way up to a 4 unit home with a Government Backed FHA Loan , as long as the property is owner occupied. .

Iowa FHA Home Loan

How it works:

 

√    Determine the type of FHA Government Loan that best fits your needs.

 

√       Complete an easy 2 minute application form.

 

√    We will forward your application to one and only one  FHA Approved Lender who can best help you based upon:

 

  • The type of loan you requested

  • Your down-payment (if purchase loan)

  • The location (State) your property is located

  • Your credit history

  • The best rate available for your loan

 

√    An FHA Loan Specialist will respond within 1 business day. They will explain what type of loan you are approved for, and the options available to you. 

 

√    Immediately that same day, the FHA Lender will overnight your pre-approval letter to you.

 

√    Review with no obligations your FHA Loan Pre-approval and locked rate. 

 

Note- It is very important that you keep this letter. It is your official pre-approval on bank letterhead with your 'locked rate', and if purchasing a house, it is equally important that you present this letter to the real estate agent to confirm your pre-qualification status.              

Iowa FHA Lending Limits 2017

Iowa Median Home Sale Price Price $155,000
County Name Single Duplex 3 Unit 4 Unit
ADAIR $275,665 $352,950 $426,625 $530,150
ADAMS $275,665 $352,950 $426,625 $530,150
ALLAMAKEE $275,665 $352,950 $426,625 $530,150
APPANOOSE $275,665 $352,950 $426,625 $530,150
   NON-METRO
AUDUBON $275,665 $352,950 $426,625 $530,150
BENTON $275,665 $352,950 $426,625 $530,150
   CEDAR RAPIDS, IA
BLACK HAWK $275,665 $352,950 $426,625 $530,150
   WATERLOO-CEDAR FALLS, IA
BOONE $275,665 $352,950 $426,625 $530,150
   BOONE, IA
BREMER $275,665 $352,950 $426,625 $530,150
   WATERLOO-CEDAR FALLS, IA
BUCHANAN $275,665 $352,950 $426,625 $530,150
BUENA VISTA $275,665 $352,950 $426,625 $530,150
   STORM LAKE, IA
BUTLER $275,665 $352,950 $426,625 $530,150
   NON-METRO
CALHOUN $275,665 $352,950 $426,625 $530,150
CARROLL $275,665 $352,950 $426,625 $530,150
CASS $275,665 $352,950 $426,625 $530,150
CEDAR $275,665 $352,950 $426,625 $530,150
CERRO GORDO $275,665 $352,950 $426,625 $530,150
   MASON CITY, IA
CHEROKEE $275,665 $352,950 $426,625 $530,150
CHICKASAW $275,665 $352,950 $426,625 $530,150
CLARKE $275,665 $352,950 $426,625 $530,150
   NON-METRO
CLAY $275,665 $352,950 $426,625 $530,150
   SPENCER, IA
CLAYTON $275,665 $352,950 $426,625 $530,150
CLINTON $275,665 $352,950 $426,625 $530,150
   CLINTON, IA
CRAWFORD $275,665 $352,950 $426,625 $530,150
DALLAS $275,665 $352,950 $426,625 $530,150
   DES MOINES-WEST DES MOINES, IA
DAVIS $275,665 $352,950 $426,625 $530,150
   OTTUMWA, IA
DECATUR $275,665 $352,950 $426,625 $530,150
DELAWARE $275,665 $352,950 $426,625 $530,150
   NON-METRO
DES MOINES $275,665 $352,950 $426,625 $530,150
   BURLINGTON, IA-IL
DICKINSON $275,665 $352,950 $426,625 $530,150
   SPIRIT LAKE, IA
DUBUQUE $275,665 $352,950 $426,625 $530,150
   DUBUQUE, IA
EMMET $275,665 $352,950 $426,625 $530,150
FAYETTE $275,665 $352,950 $426,625 $530,150
FLOYD $275,665 $352,950 $426,625 $530,150
FRANKLIN $275,665 $352,950 $426,625 $530,150
FREMONT $275,665 $352,950 $426,625 $530,150
   NON-METRO
GREENE $275,665 $352,950 $426,625 $530,150
GRUNDY $275,665 $352,950 $426,625 $530,150
   WATERLOO-CEDAR FALLS, IA
GUTHRIE $275,665 $352,950 $426,625 $530,150
   DES MOINES-WEST DES MOINES, IA
HAMILTON $275,665 $352,950 $426,625 $530,150
HANCOCK $275,665 $352,950 $426,625 $530,150
HARDIN $275,665 $352,950 $426,625 $530,150
HARRISON $275,665 $352,950 $426,625 $530,150
   OMAHA-COUNCIL BLUFFS, NE-IA
HENRY $275,665 $352,950 $426,625 $530,150
HOWARD $275,665 $352,950 $426,625 $530,150
HUMBOLDT $275,665 $352,950 $426,625 $530,150
IDA $275,665 $352,950 $426,625 $530,150
IOWA $275,665 $352,950 $426,625 $530,150
JACKSON $275,665 $352,950 $426,625 $530,150
JASPER $275,665 $352,950 $426,625 $530,150
   NEWTON, IA
JEFFERSON $275,665 $352,950 $426,625 $530,150
   FAIRFIELD, IA
JOHNSON $275,665 $352,950 $426,625 $530,150
   IOWA CITY, IA
JONES $275,665 $352,950 $426,625 $530,150
   CEDAR RAPIDS, IA
KEOKUK $275,665 $352,950 $426,625 $530,150
KOSSUTH $275,665 $352,950 $426,625 $530,150
LEE $275,665 $352,950 $426,625 $530,150
   FORT MADISON-KEOKUK, IA-IL-MO
LINN $275,665 $352,950 $426,625 $530,150
   CEDAR RAPIDS, IA
LOUISA $275,665 $352,950 $426,625 $530,150
LUCAS $275,665 $352,950 $426,625 $530,150
   NON-METRO
LYON $275,665 $352,950 $426,625 $530,150
MADISON $275,665 $352,950 $426,625 $530,150
   DES MOINES-WEST DES MOINES, IA
MAHASKA $275,665 $352,950 $426,625 $530,150
   OSKALOOSA, IA
MARION $275,665 $352,950 $426,625 $530,150
MARSHALL $275,665 $352,950 $426,625 $530,150
   MARSHALLTOWN, IA
MILLS $275,665 $352,950 $426,625 $530,150
   OMAHA-COUNCIL BLUFFS, NE-IA
MITCHELL $275,665 $352,950 $426,625 $530,150
MONONA $275,665 $352,950 $426,625 $530,150
   NON-METRO
MONROE $275,665 $352,950 $426,625 $530,150
MONTGOMERY $275,665 $352,950 $426,625 $530,150
MUSCATINE $275,665 $352,950 $426,625 $530,150
   MUSCATINE, IA
O'BRIEN $275,665 $352,950 $426,625 $530,150
OSCEOLA $275,665 $352,950 $426,625 $530,150
PAGE $275,665 $352,950 $426,625 $530,150
PALO ALTO $275,665 $352,950 $426,625 $530,150
PLYMOUTH $275,665 $352,950 $426,625 $530,150
   SIOUX CITY, IA-NE-SD
POCAHONTAS $275,665 $352,950 $426,625 $530,150
POLK $275,665 $352,950 $426,625 $530,150
   DES MOINES-WEST DES MOINES, IA
POTTAWATTAMIE $275,665 $352,950 $426,625 $530,150
   OMAHA-COUNCIL BLUFFS, NE-IA
POWESHIEK $275,665 $352,950 $426,625 $530,150
RINGGOLD $275,665 $352,950 $426,625 $530,150
SAC $275,665 $352,950 $426,625 $530,150
SCOTT $275,665 $352,950 $426,625 $530,150
   DAVENPORT-MOLINE-ROCK ISLAND, IA-IL
SHELBY $275,665 $352,950 $426,625 $530,150
SIOUX $275,665 $352,950 $426,625 $530,150
STORY $275,665 $352,950 $426,625 $530,150
   AMES, IA
TAMA $275,665 $352,950 $426,625 $530,150
TAYLOR $275,665 $352,950 $426,625 $530,150
UNION $275,665 $352,950 $426,625 $530,150
VAN BUREN $275,665 $352,950 $426,625 $530,150
WAPELLO $275,665 $352,950 $426,625 $530,150
   OTTUMWA, IA
WARREN $275,665 $352,950 $426,625 $530,150
   DES MOINES-WEST DES MOINES, IA
WASHINGTON $275,665 $352,950 $426,625 $530,150
   IOWA CITY, IA
WAYNE $275,665 $352,950 $426,625 $530,150
WEBSTER $275,665 $352,950 $426,625 $530,150
   FORT DODGE, IA
WINNEBAGO $275,665 $352,950 $426,625 $530,150
WINNESHIEK $275,665 $352,950 $426,625 $530,150
WOODBURY $275,665 $352,950 $426,625 $530,150
   SIOUX CITY, IA-NE-SD
WORTH $275,665 $352,950 $426,625 $530,150
   MASON CITY, IA