Effective immediately, the Iowa Finance Authority will issue commitments on all IFA Single-Family loans.
Previously, IFA only issued commitments associated with the Mortgage Credit Certificate Program and down payment assistance through the Plus and Military Homeownership Assistance Programs.
Commitments will now also be issued in conjunction with FirstHome and Homes for Iowans loans.
All commitments and applicable recapture notices for IFA loans and grants will be required to be signed by all borrowers at closing and be uploaded with the post-close package to IFA.
