In 2019 SIMPCO was awarded $412,500 in HOME from the Iowa Finance Authority for Down-Payment and closing cost assistance. HOME is the largest federal block grant designed exclusively for state and local governments to create affordable housing opportunities for their residents. Through this grant, First Time home-buyers are eligible for up to $37,500 in down-payment, closing-costs, and rehabilitation assistance.

Eligibility
· Applicant must be pre-approved for a loan from a lender (Will also be subject to IFA underwriting criteria)
· Applicant and all household members must be U.S. citizens or legal resident aliens
· Applicant must take Homebuyer Counseling Class with a HUD-approved program
· Applicant must purchase a single-family dwelling located within Cherokee, Ida, Monona Plymouth, or Woodbury County (Home cannot be within the city of Sioux City, city limits)
· Home to purchase must be owner-occupied with no tenant occupancy during the previous 1 year prior to purchase
· The homebuyer must contribute at least $500 towards the purchase of the home and may not receive any cashback at closing
· Single-family detached, attached, condominium, cooperative homes are eligible (Manufactured homes are eligible with additional conditions that will apply)
· Applicant must not currently own a home or have owned a home in the last three years

For Mortgage requirements: Click here
For Complete program guidelines: Click here
For Application: Click here

Purchase Price Limits:

Cherokee County$121,000
Ida County$121,000
Monona County$121,000
Plymouth County$161,000
Woodbury County$141,000
New construction limit is $238,000 for all counties