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The Iowa Finance Authority's income and purchase price limits have changed, effective June 1.
Overview of Changes:
- All counties have increased income limits with the exception of Iowa and Plymouth counties
- Purchase price limits have decreased by $2,000
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.
The new limits are posted below.
Income Limits
| FirstHome/FirstHome Plus |
See here |
| Homes for Iowans/Homes for Iowans Plus |
$121,520 |
Purchase Price Limits
FirstHome/FirstHome Plus
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$253,000 |
Homes for Iowans/Homes for Iowans Plus
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$310,000 |
Note: Limits are set according to IRS guidelines.
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