The Iowa Finance Authority (IFA) and the Iowa Association of REALTORS® (IAR) today announced the inaugural Iowa Homeownership Incubator. The Incubator is a challenge to Iowa lending institutions and real estate professionals to think innovatively about advancing financial literacy around homeownership among all Iowans, with the winning idea receiving $20,000 to implement.
“Homeownership is one of the leading drivers of economic security and wealth creation for Iowans. The challenge we face is opening that pathway to more families, especially Iowans long locked out of this wealth-building opportunity,” said IFA Executive Director Debi Durham.
“Homeownership benefits Iowans, communities and businesses alike, which is why we're pleased to announce the Iowa Homeownership Incubator to help drive innovation in this area,” said Director Debi Durham.
The Iowa Homeownership Incubator requires partnerships amongst a lending institution or real estate company and a community organization or business, and the winning pitch will be awarded $20,000 to educate Iowans about financial literacy as it relates to homeownership and assistance programs available to them, including IFA’s programs for low-to-moderate homebuyers.
Proposals must be submitted by 5:00 p.m. on Aug. 15. Finalists will be determined by the Iowa Finance Authority and the Iowa Association of REALTORS® and will be invited to make their pitch to a panel of industry judges, who will determine the winner at the HousingIowa Conference in Des Moines on Sept. 7.
“It’s no secret that homeownership is good for Iowans and good for Iowa,” said Iowa Association of REALTORS® CEO Gavin Blair.
“We look forward to seeing the innovative ideas for moving financial literacy around homeownership forward so we can open the door to homeownership for many more Iowans,” said Gavin Blair.
More information about the Iowa Homeownership Incubator, including submission guidelines is available at housingiowaconference.com.