Iowa Homes for Iowans Program Checklist
A step-by-step checklist for consumers applying for the Iowa Homes for Iowans Program in 2025.
Confirm Your Eligibility
- Ensure your household income falls within the program’s limits, which vary based on county and family size.
- Verify that your credit score meets the program’s minimum requirement, typically 640 or higher. Additional conditions may be provided by your assigned Loan Officer.
- Confirm the property you plan to purchase is within the program’s price limits and will serve as your primary residence.
- Check if you meet other eligibility criteria, such as residency requirements or specific program qualifications.
Prepare Necessary Documentation
- Collect proof of income, such as recent pay stubs, W-2 forms, or other income verification documents.
- Gather your tax returns for the last two years, including all schedules and attachments.
- Obtain recent bank statements for the last two to three months for all financial accounts.
- Prepare property details, including the address, purchase agreement, and sale price.
- Compile any 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 assist you through the Iowa Homes for Iowans Program application process.
- Schedule a meeting or phone call with your Loan Officer to confirm eligibility, review program requirements, and outline the necessary steps for application completion.
- Ask any questions about program benefits, required documentation, or application timelines.
- Follow your Loan Officer’s guidance to gather and submit all required materials promptly and accurately.
Complete Your Application
- Collaborate with your Loan Officer to accurately complete your application for the Homes for Iowans Program.
- Submit all required documents to verify your eligibility for the program’s mortgage benefits.
- Review your application thoroughly with your Loan Officer to ensure it is complete and free of errors.
- If required, attend a homebuyer education course to meet program prerequisites.
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 assistance, such as closing fees or prepaid expenses.
- Receive confirmation of your enrollment and detailed instructions on how the program benefits will be applied to your mortgage.
Maintain Compliance with Program Terms
- Ensure that 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.