Your Dream Home is Closer Than You Think
First-time buyers in Iowa can receive up to $7,500 in grants plus below-market interest rates. Let us show you how.
$220K
Median Home Price
$7,500
Max Grant Amount
28
Avg Days to Sell
3%
Min Down Payment
Calculate Your Monthly Payment
See exactly what your mortgage payment could look like with Iowa's affordable housing programs.
Mortgage Calculator
See what your monthly payment could be
⚠️PMI required below 20% down
Advanced options (taxes, insurance, HOA)
Estimated Monthly Payment
$1,751
Loan amount: $198,000
Iowa Programs Could Save You
Up to $7,500
FirstHome Grant + Military Grant (if eligible)
Unlock Up to $7,500 in Savings
Iowa offers some of the best homebuyer assistance programs in the nation. See which ones you qualify for.
Check Your Eligibility
See which Iowa programs you qualify for
Question 1 of 5
Is this your first time buying a home?
First-time buyers can qualify for special grants and lower rates.
Compare Your Options
Different loan types suit different situations. Find the one that's right for you.
Conventional
Down
3-20%
Credit
620
PMI
Yes
Strong credit, 20%+ down
FHA
Down
3.5%
Credit
580
PMI
Yes
Lower credit scores
VA
Down
0%
Credit
620*
PMI
None
Veterans & active military
USDA
Down
0%
Credit
640
PMI
Yes
Rural area buyers
IFA FirstHome
BESTDown
3%
Credit
640
PMI
Low
Iowa first-time buyers
* Credit score requirements may vary by lender. Click any loan type for details.
Your 4-Step Journey Home
From pre-approval to keys in hand — here's what to expect.
Before you fall in love with a home, know exactly what you can afford. A pre-approval letter shows sellers you're serious and ready to buy.
What You'll Need:
- ✓Last 2 years of tax returns
- ✓Recent pay stubs (30 days)
- ✓Bank statements (2 months)
- ✓Government-issued ID
- ✓Employment verification
Pro Tip
Get pre-approved, not just pre-qualified. Pre-approval means the lender has verified your information.
With your budget set, it's time to explore! We'll help you find homes that match your lifestyle, needs, and financial goals.
What You'll Need:
- ✓Define must-haves vs nice-to-haves
- ✓Research neighborhoods
- ✓Tour homes (in-person & virtual)
- ✓Compare schools & amenities
- ✓Consider commute times
Pro Tip
Iowa homes sell fast (average 28 days)! When you find "the one," be ready to move quickly.
Found the perfect home? We'll craft a competitive offer and negotiate on your behalf to get you the best deal possible.
What You'll Need:
- ✓Submit offer with pre-approval
- ✓Negotiate price & terms
- ✓Schedule home inspection
- ✓Order appraisal
- ✓Review title search
Pro Tip
In Iowa, sellers can pay up to 6% of closing costs. Ask your agent to negotiate this!
The finish line! Review final paperwork, sign the documents, and receive the keys to your new Iowa home.
What You'll Need:
- ✓Final walkthrough
- ✓Review closing disclosure
- ✓Wire down payment funds
- ✓Sign closing documents
- ✓Receive keys!
Pro Tip
Iowa uses a unique Iowa Title Guaranty that protects you for life - and IFA loans include this free!
Free Iowa Home Buyer Guide
Everything you need to know about buying your first home in Iowa, from programs to closing.
- ✓Complete step-by-step checklist
- ✓All Iowa assistance programs explained
- ✓Questions to ask your lender
- ✓Common mistakes to avoid
Frequently Asked Questions
Get answers to the most common questions about buying a home in Iowa.
It depends on the loan type. FHA loans accept scores as low as 580 with 3.5% down. Conventional and most Iowa programs require 640+. VA loans are flexible but lenders typically want 620+. The good news: Iowa's IFA programs don't charge higher rates for lower credit scores within their range.
In Iowa, you could buy with as little as $0 down using VA or USDA loans. With IFA programs, you might only need 3% down, and the $2,500 grant can cover most of that on a $175,000 home. We recommend having 3-6 months of expenses saved beyond your down payment for emergencies.
Closing costs typically run 2-5% of the home price and include lender fees, title insurance, appraisal, and prepaid taxes/insurance. On a $200,000 home, expect $4,000-$10,000. Iowa's IFA programs include a free Iowa Title Guaranty certificate, saving you money. The $2,500 grant can also be used for closing costs.
From pre-approval to keys in hand, expect 30-60 days. Pre-approval takes 1-3 days. House hunting varies (Iowa average: 2-4 weeks). Once under contract, closing typically takes 28-35 days. Iowa homes sell faster than national average - about 28 days on market.
Yes! Lenders look at your debt-to-income ratio (DTI), not just the existence of debt. Most programs allow up to 43-50% DTI. If your student loan payment is $300/month and you earn $5,000/month, that's only 6% of your income - very manageable. Many Iowa buyers have student loans.
Pre-qualification is a quick estimate based on self-reported info - useful but not verified. Pre-approval involves a credit check, income verification, and underwriter review - it's a real commitment from the lender. Sellers take pre-approved offers more seriously. We recommend getting pre-approved before house hunting.
Yes! The Military Grant ($5,000) can be combined with FirstHome ($2,500) for up to $7,500 in grants. You can also use the 5% DPA loan instead of the grant if you need more help. However, you cannot use both the grant AND the DPA loan - it's one or the other, plus the military grant if eligible.
You can still get help! The "Homes for Iowans" program is designed for repeat buyers and offers the same below-market interest rates. You can use the 5% DPA loan (though not the $2,500 grant). Veterans can still get the $5,000 Military Grant regardless of previous homeownership.
Ready to Start Your Journey?
Talk to Hanna, our AI assistant, or browse our available properties. Your dream home in Iowa is waiting.
Questions? Contact us at hello@prairieviewhomes.com