JOHNSON COUNTY, Iowa (KCRG) – A new program is helping first-time homebuyers in Eastern Iowa with one of the hardest parts of buying a new home: the down payment.
East Central Iowa Council of Governments and three local trust fund agencies partnered to apply for HOME Investment Partnerships Program funds from the Iowa Finance Authority. They were awarded the funds and created the First Time Homebuyer Down Payment Assistance Program.
“Oftentimes, they’re young professionals, they’re working, they have income that can help them to sustain a mortgage payment, but it’s having that savings accumulated to buy the home and put down that down payment that’s really the issue,” said Paula Mitchell, East Central Iowa Council of Governments housing director…