Military Service Member Homeownership Assistance Program
The Iowa legislature created the Military Service Member Homeownership Assistance Program in 2005 to help eligible members of the armed forces of the purchase qualified homes in Iowa through matching grants. A grant under the program is a dollar-for-dollar match of the service members contribution, up to $5,000.
Eligible Home Buyers
The program is available to service members who:
At the time of applying for a grant under the program, have served on active duty in a Title 10, United States Code, active federal military service status for at least 90 days cumulative, other than training, during the period beginning September 11, 2001, and ending June 30, 2008, as a member of the national guard, reserve, or regular component of the armed forces of the United States
Contribute a matching cash amount to the purchase (up to $5,000)
Purchase a qualifying home
Utilize a participating lender (if financing the purchase)
The program is also available to surviving spouses of deceased eligible service members who meet the other eligibility requirements. There are no income or purchase price limits, and grants awarded under the program may be used in conjunction with other assistance available through FHA, VA, USDA, IFA, or other programs if the eligible service member qualifies for those programs.
A home is eligible under the program if it:
Is located in the state of Iowa
Is purchased by an eligible service member as the service members primary residence on or after March 10, 2005
Falls into one of the following categories:
Duplexes, if one of the units will be the primary residence of the service member
Single-family residences (including stick-built homes, modular homes, or manufactured homes, provided the home is attached to a permanent foundation and is taxed as real estate)