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The US Department of Housing and Urban Development (HUD) annually provides funding to states and localities to advance affordable housing priorities.
The Iowa Finance Authority administers the State of Iowa’s HOME allocation and awards funds through a competitive application process to assist communities with a wide-range of affordable housing initiatives, including:
Allows nonprofit entities to give an extra boost to homebuyers through down payment and rehabilitation assistance.
Allows nonprofit and local government entities to assist many Iowa families to afford their rental home, with a little help.
Provides property owners and developers with funds to develop and preserve affordable rental housing for Iowans.
The Homebuyer Assistance Program allows nonprofit entities to give an extra boost to homebuyers through down payment and rehabilitation assistance.
The homebuyer must have a gross annual income that does not exceed 80% of the Area Median Income, as established by HUD.
The 2024 HOME round is now closed.
The Tenant-Based Rental Assistance Program allows nonprofit and local government entities to assist many Iowa families to afford their rental home, with a little help.
Assistance types include monthly rental assistance payment, upfront security deposit assistance, and utility deposit assistance.
All funds are paid directly to the landlord or utility provider on behalf of the tenants.
This program is NOT for renters in need of assistance. If you are looking for rental assistance please visit IowaHousingRecovery.com.
The home buyer must have a gross annual income that does not exceed 80% of the Area Median Income, as established by HUD.
The amount of rent subsidy varies by household and is dependent upon factors such as the household income and the rental unit.
The Iowa Finance Authority works with local partners to provide assistance to home buyers. Interested homebuyers should contact one of our partner agencies for information on the application process.
The 2024 HOME round is now closed.
The HOME Rental Assistance program provides property owners and developers with funds to develop and preserve affordable rental housing for Iowans.
• New construction and conversion of rental housing.
• Rehabilitation of existing buildings.
HOME-assisted rental units must meet affordable rent restrictions. HUD establishes high and low HOME rents for each area annually.
The home buyer must have a gross annual income that does not exceed 80% of the Area Median Income, as established by HUD.
The Iowa Finance Authority works with local partners to provide rental assistance to tenants. Interested renters should contact one of our partner agencies for information on the application process.
The 2024 HOME round is now closed.
IFA monitors all Low Income Housing Tax Credit, HOME program and National Housing Trust Fund projects for compliance throughout the designated compliance period.
Compliance InformationIowa’s HOME program assists communities with a wide range of affordable housing initiatives:
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