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Home$tart Grant Down Payment and Closing Cost Assistance Program

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Apply online for your mortgage today!

Receive up to $7,500 in grant funds towards the purchase of a home!

Who can qualify for a Home$tart Grant?

The Home$tart program is available to qualifying home buyers earning up to 80% of area median income for the location of the residence being purchased. You can find median income information for your area on the Department of Housing and Urban Development (HUD) website at Income limits are adjusted based on household size.

Home$tart recipients must also:

  • Complete a home buyer education class if you are a first-time homebuyer
  • Qualify for mortgage financing with Northwest Bank

How much grant money may I receive through Home$tart?

Home$tart participants may receive up to $7,500 in grant funds. You must have a signed Purchase and Sale Agreement to enroll in Home$tart.

Are there any restrictions on the type of home I may purchase?

Home$tart grants may be used to purchase single-family homes or condominiums. The home you purchase must be used for your primary residence. There are no neighborhood restrictions. If you qualify for mortgage financing from Northwest Bank and are income eligible, you will likely be able to receive a Home$tart grant.

Are there any restrictions on how the grant may be used?

Yes. The Home$tart grant may be used for down payment and closing costs for the purchase of your home.

What happens if I sell my house?

If your home is purchased with Home$tart assistance, it is subject to a 5-year deed restriction requiring that you return a portion of the grant if you sell your home within 5 years. This amount will be prorated based on the length of time you own the home, and the funds will be taken from your sale proceeds. If you sell your home at a net loss or to another low-or moderate-income home buyer or if you lose your home through foreclosure, the prorate amount owed on your grant will be forgiven; in these cases, your title company should contact FHLB Des Moines to request a forgiveness review. However, if you live in the home for at least 5 years, you never have to repay the grant. It’s all yours!

You can enroll in Home$tart through Northwest Bank. We will help sign you up and explain the program in greater detail. Call or stop by your local Northwest Bank today. 


For more information about this grant please contact your local mortgage expert today!

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