The Iowa Finance Authority's income and purchase price limits will be changing, effective June 1, 2017.
The changes are minimal:
- All counties have increased income limits with the exception of Iowa and Plymouth counties
- Sale price limits have decreased by $2,000
Any home buyers with loans in process that would become ineligible under the new limits will be allowed to proceed using the old limits in which they qualified.
We are in the process of updating our system and the limits will be provided to lenders in advance of the effective date.
