For eligible veterans, active-duty service members, and certain surviving spouses, buying a home in Iowa may be more attainable with help from the Iowa Finance Authority's (IFA) Military Homeownership Assistance Program (MHOA).
Beginning July 1, 2026, the Iowa Finance Authority began accepting Fiscal Year 2027 reservations for the program. Qualified buyers may be eligible for a $5,000 grant that can be used toward down payment and closing costs when purchasing a qualifying home in Iowa.
At Ruhl&Ruhl Realtors and Ruhl Mortgage, we believe those who have served our country deserve knowledgeable, local guidance as they explore homeownership. Whether you are buying your first home or your next home, our mortgage professionals can help you understand your financing options, review eligibility requirements, and navigate the application process.

Quick Answer: What Is the Iowa Military Homeownership Assistance Program?

The Iowa Military Homeownership Assistance Program is a homebuyer grant program from the Iowa Finance Authority. It offers eligible service members, veterans, and qualifying surviving spouses up to $5,000 to help with down payment and closing costs on a qualifying home in Iowa. The grant may also be combined with other Iowa Finance Authority homeownership programs, including FirstHome and Homes for Iowans, for borrowers who meet the program requirements. Funding is limited and available on a first-come, first-served basis.

Military Homeownership Assistance Program Highlights

Eligible applicants may receive a $5,000 grant to assist with common upfront homebuying costs, including:

• Down payment
• Closing costs

For many Iowa homebuyers, these costs can be one of the biggest barriers to purchasing a home. This program is designed to help eligible military-connected buyers reduce some of those upfront expenses and move closer to homeownership. The grant may be used in combination with other Iowa Finance Authority programs, including:

• FirstHome
• Homes for Iowans

Because funding is subject to availability, buyers are encouraged to begin the mortgage pre-approval and eligibility review process early.

Who May Qualify for the Iowa Military Homeownership Assistance Program?

The Military Homeownership Assistance Program is available to eligible military-connected homebuyers who meet the Iowa Finance Authority's program requirements. Eligible applicants may include:

• Veterans or active-duty service members who served at least 90 cumulative days of active duty during one of the qualifying service periods.
• Service members who served during August 2, 1990 through April 6, 1991.
• Service members who served during September 11, 2001 through the present.
• Federally recognized injured service members who served during the qualifying periods.
• Eligible surviving spouses of qualified service members who received a discharge other than dishonorable.

Eligibility can depend on service history, timing, property type, lender participation, and other program requirements. A local mortgage lender can help review the details and determine whether the program may fit your home purchase.

What Types of Homes Are Eligible?

To qualify for the Iowa Military Homeownership Assistance Program, the home must be located in Iowa and used as the buyer's primary residence within 60 days of closing. Eligible property types may include:

• Single-family homes
• Condominiums
• Townhomes
• Two-, three-, or four-unit properties, when the buyer occupies one unit as a primary residence
• Eligible manufactured or modular homes permanently affixed to a foundation

For buyers in Eastern Iowa communities such as Davenport, Bettendorf, Burlington, Cedar Rapids, Clinton, DeWitt, Dubuque, Iowa City, and Muscatine, this program may be helpful when paired with the right home search and financing strategy. 

Important Program Requirements for Buyers

Before moving forward, eligible buyers should understand a few key requirements. Applicants must:

• Receive program approval before closing on the home.
• Work with an Iowa Finance Authority participating or facilitating lender.
• Complete homebuyer education if required for first-time homebuyers using non-IFA financing.

Because approval is required before closing, it is important to ask about the program early in the homebuying process. Waiting until the final stages of a purchase could make it harder to take advantage of available assistance. A mortgage professional can help you understand which documents may be needed, whether your loan program works with the grant, and how the timing fits with your closing date.

Funding Opened July 1, 2026

The Iowa Finance Authority began accepting Fiscal Year 2027 Military Homeownership Assistance Program reservations on Wednesday, July 1, 2026. Funding is limited and available on a first-come, first-served basis. Eligible homebuyers who are interested in using the program should begin the pre-approval process as soon as possible so they can understand their options before making an offer or scheduling a closing.

How Ruhl Mortgage Can Help

Buying a home is one of life's biggest milestones, and the financing process can feel especially detailed when grants, assistance programs, and eligibility requirements are involved. Ruhl Mortgage can help eligible buyers:

• Review mortgage options for buying a home in Iowa.
• Understand whether the Military Homeownership Assistance Program may apply.
• Explore whether the grant can be combined with other Iowa Finance Authority programs.
• Prepare for pre-approval and required documentation.
• Navigate the home financing process from application to closing.

Whether you are purchasing your first home, relocating, or buying your next home in Iowa, working with a knowledgeable local lender can help you move forward with clarity and confidence. 

Ready to Learn More?

If you are a veteran, active-duty service member, or eligible surviving spouse considering a home purchase in Iowa, now is a good time to explore whether the Iowa Military Homeownership Assistance Program could help with your down payment or closing costs. To learn more or speak with a local mortgage lender, visit RuhlMortgage.com.

About Ruhl Mortgage

Ruhl Mortgage is committed to helping individuals and families achieve homeownership through knowledgeable guidance, competitive financing solutions, and personalized service. Working closely with homebuyers throughout Iowa and Illinois, Ruhl Mortgage provides trusted mortgage expertise every step of the way. Visit their website at RuhlMortgage.com.

About Ruhl&Ruhl Realtors

A family-owned company since 1862, Ruhl&Ruhl Realtors has grown to 274 sales associates, 59 employees, and 10 offices, selling nearly 4,200 homes in eastern Iowa, northwest Illinois, and southwest Wisconsin in 2025. The company has residential sales offices in Bettendorf, Burlington, Cedar Rapids, Clinton, Davenport, DeWitt, Dubuque, Iowa City, and Muscatine, Iowa, and in Moline, Illinois. For more information on Ruhl&Ruhl Realtors, visit RuhlHomes.com.