Lang
11/21/22
City of Iowa City officials are encouraging qualified residents to seek mortgage assistance through the state of Iowa.
The assistance is available to qualified homeowners through the Iowa Finance Authority’s Iowa Homeowner Assistance Fund (IHAF) program. The program assists eligible homeowners in avoiding foreclosure by providing financial assistance with mortgage payments and related property expenses.
Eligible homeowners may receive one time assistance of up to $25,000. Eligible past due expenses include mortgage payments, property taxes, homeowner’s insurance, homeowner association fees, manufactured home/lot rent payments and land contract payments for applicants who do not own property, but are buying under a legally recorded contract.
Eligibility
- Eligible homeowners must:
- Own the property.
- Be at least 30 days behind on payments for mortgage, contract sale, manufactured home or property taxes.
- Have a household income not greater than 150 percent of the area median income or 100 percent of the U.S. median income.
- Primarily reside at the applicant property.
- Have experienced and/or can demonstrate a COVID-19 related financial hardship.
Eligible Property Types
- Single-family properties.
- Condominium units.
- 2- to 4- unit properties where the homeowner is living in one of the units as their primary residence.
- Manufactured homes permanently affixed to real property and taxed as real estate.
- Mobile homes not permanently affixed to real property.
How to apply
- Have digital copies of proof of identification and income eligibility documentation.
- Submit an application. Applications can be found here.
- Notify your servicer. Servicers are required to be onboarded into the program prior to homeowners receiving assistance.
Frequently asked questions and other information can be found at iowafinance.com/IHAF/