IFA Loan

Every Iowan deserves a place of their own.

  • Down payment grants and loans
  • First-time homebuyer assistance
  • Easy-to-meet eligibility guidelines

Let the home team go to bat for you.

The Iowa Finance Authority starts off with one basic premise - Iowans from all walks of life should have a shot at home ownership. At Lincoln Savings Bank, we feel the same way. That's why we work hard to connect individuals and families to IFA programs that offer down payment assistance, first-time homebuyer advantages and extra friendly mortgage loan rates.

FirstHome Program

  • Highly competitive interest rates
  • Reduced down payment
  • Free Iowa title guaranty owner's certificate

How do I qualify for the FirstHome Program?

  • Be a first-time home buyer, or have not owned a home in three years
  • Must meet the income eligibility requirements
  • Property must meet price limitations
  • Property must be used as primary residence
  • Minimum credit score of 640
  • Maximum debt-to-income ratio of 45%

Homes for Iowans Program

  • Competitive interest rates
  • Reduced down payment
  • Free Iowa title guaranty owner's certificate

How do I qualify for the Homes for Iowans Program?

  • Must meet the income eligibility requirements
  • Property must meet price limitations
  • Property must be used as primary residence
  • Minimum credit score of 640
  • Maximum debt-to-income ratio of 45%

Down Payment Assistance Program

  • Loan: Either 5% of the home's sale price or $5,000 (whichever is less). This loan does not require a monthly payment but is due at the time of sale, refinance, or once the first mortgage is paid in full.
  • Grant: $2,500 non-repayable grant to assist homebuyers with down payment and closing costs.

How do I qualify for an IFA loan or grant?

  • Must meet the income eligibility requirements
  • Property must be located in Iowa and be used as primary residence
  • Must be a first time home buyer or have not owned a home in three years
  • Minimum credit score of 640
  • Maximum debt-to-income ratio of 45%

Need help finding the right type of home loan for you?

Let our experienced mortgage lending team help! Fill out the form below and one of our home loan experts will reach out to you soon. We offer personalized service and the local expertise that only comes from more than a century of service to your community. Contact us today or visit your nearest Lincoln Savings Bank branch in Northeast or Central Iowa.

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Lincoln Savings Bank is a full-service Central and Northeast Iowa bank dedicated to local customers and communities since 1902.