March 22, 2023
Military Homeownership Assistance Program Funding Update
CURRENT FUNDS:
  • $95,000 in available funds remain as of 3.22.23. 
  • Watch the available funds tab in Lender Online for the current allocation total, be sure to select the "update" tab for accurate results.
  • The current allocation amounts can also be found on the Iowa Finance Authority website, totals are updated weekly.
URGENT Review of outstanding MHOA reservations is needed:
  • Is the MHOA transaction still in process OR Does it need cancelled? 
  • Are there outstanding conditions OR Loans closed that have not been submitted?
OTHER ITEMS:
  • New Construction “reasonable” extension only per Code – watch expiration dates! 
  • Make sure your borrowers are aware the MHOA program is on a first-come, first served basis.
  • Have an executed purchase agreement prior to reserving the MHOA grant, this is a program requirement.

Please contact the Homeownership team with questions.