Those in need of financial assistance to buy a home in Washington County can still apply for the homebuyer assistance program offered through the East Central Iowa Council of Governments. (ECICOG).

ECICOG has received funds through the Community Development Block Grant program to offer five loans of up to $24,999 in Washington County. Planner/Grant Specialist Paula Mitchell says the receding forgivable loan can go toward a down payment, property inspection, or closing costs, and homes eligible include single-family properties, condominiums, existing and newly constructed homes, and those outside a 100-year floodplain, “If they continue to live in the home for a period of five years there’s no payback at the end of five years, it would be fully forgiven. If they were to sell the property before the end of that five-year period then they would owe a portion back from their sale proceeds. And it’s forgiven at a rate of 20% annually.”

Mitchell tells KCII that she has received nine applications and three have been determined income eligible. There is no deadline to apply, and you can find more information here.