SWIHTF Has Funds Available for Homeowners
The Southwest Iowa Planning Council (SWIPCO) is seeking applicants for its Homeownership Assistance Program. Thanks to the $100,000.00 provided by the Iowa Finance Authority and administered by SWIPCO’s Southwest Iowa Housing Trust Fund (SWIHTF), eligible homeowners can now apply for financial assistance. According to their official site, Southwest Iowa Planning Council’s goals are to promote regional cooperation and to serve the counties and cities within our region with community and economic development activities to improve the quality of life for all residents in Southwest Iowa. SWIPCO serves the eight counties of southwest Iowa and their municipalities.
According to Alexsis Fleener, SWIPCO Community Development Director: “This program involves down-payment assistance for someone who is purchasing a home; it doesn’t matter if it is their first, second or third home.”
SWIHTF can assist potential home buyers of new and existing housing with down payment assistance. SWIHTF can fund up to 7% of the purchase price up to $7,000.00 The first is $4,000.00 is a 5-year forgivable loan, forgiven at 20% per year. The remaining amount is a 1% loan for up to 5 years. The program offers funding to low- and moderate-income individuals and families in Cass, Fremont, Harrison, Mills, Montgomery, Page, and Shelby counties. The program is only available to homeowners with a household income at or below 80% of the Area Median Income. This amount varies depending on which county you reside in. These funds are given on a first-come, first-served basis.