October 27, 2017
Conventional Closing Cost Assistance Grant Extended to December 31!
The Iowa Finance Authority is pleased to announce that the $1,500 Conventional Loan Closing Cost Assistance (CCA) grant has been extended for use on mortgages closing by Dec. 31, 2017!

Reminders:
  • Conventional loans only
  • Closing costs only
  • No portion of the assistance may be used for down payment
  • The $1,500 must be used in its entirety

EXAMPLE SCENARIOS
Eligible for Closing Cost Assistance

$3,000 closing costs
($1,500) seller paid
($1,500) CCA grant
$0
Ineligible for Closing Cost Assistance

$3,000 closing costs
($2,000) seller paid
($1,500) CCA grant
-$500  

The entire $1,500 must be applied toward closing costs. Restructure is necessary to utilize the closing cost grant.

Please contact your assigned  single-family team member  with any questions.  

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