Federal Jumpstart Housing Assistance Program Guidelines

1. Eligible housing activities are 1) Housing Repair/Rehabilitation; 2) Homebuyer Assistance; and 3) Interim Mortgage Assistance.
2. The Iowa Department of Economic Development (IDED) has contracted with 11 entities across the State of Iowa to disburse these funds.  The eleven entities are as follows:  East Central Intergovernmental Association; East Central Iowa COG; Iowa Northland Regional COG; Northern Iowa Area COG; Southern Iowa COG; Southwest Iowa Planning Council; Cedar Falls; Cedar Rapids; Des Moines; Iowa City and Waterloo.
3. To apply for housing assistance under these federal funds you must contract one of the previously mentioned entities where your home is located. 
4. A person is eligible for federal housing if they have received FEMA funds and have a household income at 100% or below the area median income.
   - Median Family Income Limits by County and Family Size [PDF: 17k]
5. No duplication of benefits will be allowed.
6. No repair/rehabilitation benefits are allowed to a structure located within the 100 year flood plain or a designated buy-out area, unless the activity meets all HUD environmental requirements, applicable design standards and the property is insured by Federal Flood Insurance.
7. A maximum a person may receive for repair/rehabilitation is $60,000; for homebuyer assistance is $60,000 and for interim mortgage assistance is $3,000.
8. All units must meet Iowa Minimum Housing Rehabilitation Standards after repair/rehabilitation work is completed.
9. Federal Lead Safe Housing requirements must be met on all units.
10. Homebuyer Assistance is available only to individuals whose principal residence was destroyed by the disasters of 2008.
11. Homebuyer Assistance includes rehabilitation in support of homeownership; acquisition assistance including down payment, buyer’s side closing costs; mortgage buy-down (principal reduction), combinations of the above and combination of both rehabilitation and acquisition assistance.
12. Interim Mortgage Assistance is available only to individuals whose principal residence will eventually be bought out.
13. Eligible interim mortgage assistance may be used for payment of principal, interest, property taxes and hazard insurance.