May 10, 2021
New Income and Purchase Price Limits
The Iowa Finance Authority's updated income and purchase price limits are effective Monday, May 10. Please note the updated income and price limits are for new applications beginning today, May 10, 2021.

The purchases prices for both FirstHome and Homes for Iowans have increased. Please note the income limits for some counties have decreased.
Limits Effective: May 10, 2021
Purchase Price: $311,000
Income: Varies by County
Limits Effective: May 10, 2021
Purchase Price: $381,000
Income Limit: $139,580
The income limits have been updated on the MRB 01 purchaser affidavit in Lender Online and on IFA's website. Please be sure to update your records accordingly.

Please note: Fannie Mae and Freddie Mac have not changed income limits, therefore the 80% AMI will follow their existing limits at this time. 
Please contact the Homeownership Team with questions.