March 27, 2024
Military Homeownership Assistance Program Funding Update
CURRENT FUNDS:
$95,000
in available funds remain as of 3.27.24.
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.
