Iowa FirstHome Plus Program Checklist
A step-by-step checklist for consumers applying for the Iowa FirstHome Plus Program in 2025.
Confirm Your Eligibility
- Ensure your household income falls within the program’s limits, which vary by county and family size.
- Verify that your credit score meets the program’s minimum requirement, typically 640 or higher. Additional requirements may be provided by your assigned Loan Officer.
- Confirm that the property you plan to purchase is within the program’s price cap and will serve as your primary residence.
- Check if you meet additional program criteria, such as being a first-time homebuyer or purchasing in a designated targeted area.
Prepare Required Documentation
- Collect proof of income, including recent pay stubs, W-2 forms, or other verification of earnings.
- Gather your tax returns for the past two years, including all schedules and attachments.
- Obtain recent bank statements covering the last two to three months for all financial accounts.
- Prepare property details, such as the address, purchase agreement, and sale price.
- Compile additional documents requested by your Loan Officer, such as verification of debts, liabilities, or proof of assets.
Work with Your Assigned Loan Officer
- Your assigned Loan Officer will guide you through the Iowa FirstHome Plus Program application process.
- Schedule a meeting or phone call with your Loan Officer to confirm your eligibility, review program details, and outline the necessary steps to complete your application.
- Ask any questions about the program benefits, required documentation, or timelines for approval.
- Follow your Loan Officer’s guidance to gather and submit all required materials accurately and on time.
Complete Your Application
- Work closely with your Loan Officer to accurately complete your application for the FirstHome Plus Program.
- Submit all required documents to verify your eligibility for down payment and closing cost assistance.
- Review your application with your Loan Officer to ensure all information is accurate and complete before submission.
- If required, attend a homebuyer education course to fulfill the program’s requirements.
Finalize Your Enrollment
- Sign all necessary documents provided by your Loan Officer to secure your participation in the program.
- Prepare for any additional costs not included in the program benefits, such as closing fees or prepaid items.
- Receive confirmation of your enrollment and detailed instructions on how the assistance will be applied to your home purchase.
Maintain Compliance with Program Terms
- Ensure the purchased property remains your primary residence for the duration specified by the program guidelines.
- Notify your Loan Officer immediately if you plan to sell, refinance, or make changes to your mortgage, as these actions could impact your program benefits.
- Stay updated on program requirements or changes to maintain compliance and retain your assistance benefits.