The journey to homeownership takes PLANNING, RESEARCH and SOME HELP from trusted partners!
Prepare for the hunt for your perfect home with IFA's eight-step process.
- Now's the time to check up on your credit score - generally you're in the clear if it's more than 640.
- Figure out the monthly mortgage payment that fits your budget best.
- Remember to factor in utilities and taxes when coming up with the amount that makes the most sense for you!
IFA provides a variety of programs to uniquely match your cost assistance needs. Check out the different benefits each service provides to find the best fit for your household.
Visit these links and watch these short videos to learn more about how these programs work to save you money.
In addition to the Iowa Finance Authority, members of the Iowa Association of REALTORS® and the Iowa Mortgage Association will help you with your house hunt.
Iowa Finance Authority Participating Lenders are there to guide you through the home buying process from start to finish. These approved loan officers are experienced with the different requirements, options and benefits of IFA's loan programs.
After signing a purchase agreement on the home you wish to purchase, you can apply for a loan! Count on your loan officer to gather the necessary information for processing. They'll review your credit report, assets, income and payment history to make sure you meet IFA's program requirements.
A home appraisal - paid for by the borrower - will also be performed. Finally, the underwriter at your lending institution will confirm that you qualify for the loan!