Program Closed 8/18/2023
The First Time Home Buyer program is closed and no new applications will be accepted. We anticipate the next funding round will be in March, 2024. The information below applies to the March 2023 funding, and may change before the upcoming 2024 round.
Program Overview
The FTHB program provides $1,000-$14,999 in down payment and closing cost assistance to eligible buyers. The assistance is forgivable after 5 years.
- Be a first-time buyer
- Meet the income requirements
- Purchase an eligible property
- Meet debt and mortgage criteria
Document Section
Application Portal
Brochure
Presentation
Income Limit Chart (Updated 6/15/23)
Frequently Asked Questions
Income and Asset Document Checklist
Funding Status - 8/18/2023
Approved: - 9
Pre-Qualified: - 1
Remaining: - 2
Applications Received: - 47
Homebuyer Education
Applicants are required to complete a HUD-approved home buyer education course before applying. Locally, Horizons offers an on-line homebuyer education course that is HUD-approved, but applicants are able to go through any agency they choose. However, it must specifically state the homebuyer education course is offered by a "HUD-approved" counseling agency in order for it to meet the requirements of the First Time Home Buyer program. Please note: the Fannie Mae Homeview Course does not meet the program requirements.
Related Links
- For more information about the funding source: HUD Website
- For a local HUD-approved homebuyer education provider: Horizons Website
- For more information about the mortgage lending regulations: Consumer Financial Protection Bureau Website
Contact
Jennifer Barten
Homeownership Program Coordinator
Phone: (319) 286-5874
Fax: (319) 286-5870
j.barten@cedar-rapids.org
