Down Payment Assistance

Possible $2,500 in down payment assistance through the Iowa Housing Finance Authority (IHFA). Your local participating lender does the application for you (not all lenders participate).

The USDA’s Direct 502 Housing Loan Program allows for little or no down payment but there maybe some closing costs. Our local office is located at USDA Office 1100 – 12th St SW, Suite C, Le Mars, IA 51031 or by phone at 712-546-5149 ext 4.

The USDA also has loans and grants available for those 62 yeas of age or older who can apply for help toward common repairs such as insulation, furnace, windows, roof repairs, electrical, wheel chair ramps, foundation repairs etc. This program is called a 504 loan. More details can be found on RD’s website. RD also has another program for homebuyers with moderate income known as the Guaranteed Housing Loan Program. You can apply for this loan through a local participating lender and they work with RD to make the loan. For more details go to: www.rurdev.usda.gov/ia and https://www.facebook.com/iowafinance/