First-Time Homebuyer Loans & Grants in Iowa | Louie Wickett, Des Moines Lender

Most of my favorite closings are first-time buyers. My whole approach is built around education: you'll understand every program, every number and every step before we move forward.

Your options as a first-time buyer

Conventional from 3% down for qualified buyers
FHA with 3.5% down and flexible credit
VA with zero down for eligible veterans and service members
USDA with zero down in eligible small towns and rural areas

Help with the down payment

Iowa Finance Authority FirstHome: a first-time buyer mortgage that can be paired with grants or assistance
Homes for Iowans: open to first-time and repeat buyers
Military Homeownership Assistance: a $5,000 grant for eligible veterans and service members
Key Mortgage Group First-Time Homebuyer Grant: an internal grant, not repayable
Mortgage Credit Certificate: a yearly federal tax credit

Read the full 2026 guide to Iowa assistance.

How I help first-time buyers

We talk. No commitment, no hard credit pull.
I walk you through every option and show you real numbers.
You get pre-approved and ready to make strong offers.
I map out every step from accepted offer to closing.
I'm your lender for life after closing.

Ready to see what's possible? Reach out or try the affordability calculator.

Frequently asked questions

What counts as a first-time homebuyer?

For most programs, including Iowa Finance Authority programs, you're a first-time buyer if you haven't owned a primary residence in the past three years.

What's the minimum down payment for a first-time buyer?

It can be 0% with VA or USDA loans for eligible buyers, 3% on some conventional loans, or 3.5% with FHA. Iowa grants can help cover the down payment and closing costs.

Are there grants for first-time buyers in Iowa?

Yes. Iowa Finance Authority programs offer grants and assistance, and Key Mortgage Group offers an internal first-time homebuyer grant. Grants generally can't be combined, so a lender can help you pick the best one.