Home$tart® Grant Program
We’re proud to offer the Home$tart® Grant Program through the Federal Home Loan Bank of Des Moines, designed to help make homeownership more affordable.
What is Home$tart?
Home$tart is a down payment and closing cost assistance grant available to qualifying first-time homebuyers. Funds are provided through participating lenders like us to help bridge the gap between saving and owning a home.
Eligible buyers may receive up to $15,000 in grant funds to apply toward:
- Down payment
- Closing costs
These funds are a true grant (not a loan) meaning they typically do not need to be repaid as long as program requirements are met.
To be eligible for the Home$tart program, borrowers generally must:
- Be a first-time homebuyer (or not have owned a home in the past 3 years)
- Have a household income at or below 80% of area median income (AMI)
- Complete an approved homebuyer education course
- Qualify for a mortgage through our lending team
- Purchase a home that will be used as your primary residence
Eligible property types include single-family homes, condos, and certain manufactured homes.
Important Guidelines:
- Funds are limited and available on a first-come, first-served basis
- A signed purchase agreement is required to reserve funds
- The home must be owner-occupied
- The grant is subject to a 5-year retention period. If the home is sold before 5 years, a prorated portion of the grant may need to be repaid
The Home$tart program can help:
- Reduce the amount of cash needed at closing
- Make homeownership achievable sooner
- Improve overall affordability
Our team will walk you through eligibility and help you apply for the Home$tart grant as part of your mortgage process.
Contact us today to see if funds are currently available and whether you qualify.
