Regional Housing Trust Fund

The Northwest Iowa Regional Housing Trust Fund is an independent nonprofit entity established to support the housing needs of low- to moderate-income residents across eight counties in Northwest Iowa: Buena Vista, Clay, Dickinson, Emmet, Lyon, O'Brien, Osceola, and Sioux. Certified by the Iowa Finance Authority in October 2009, the Trust Fund operates under the administration of the Northwest Iowa Planning and Development Commission. Its core mission is to promote the development and preservation of affordable housing for individuals and families within the designated service region, aiming to enhance quality of life and housing security. The program specifically supports owner-occupied rehabilitation projects, offering financial assistance in the form of forgivable loans and low-interest repayable loans. Eligible uses of funds include minor home repairs, improvements for energy efficiency, and mitigation of lead-based paint hazards. The financial support available is determined based on the applicant’s income level in accordance with MRB/HUD income limits. Households earning at or below 30% of the area median income are eligible for up to $7,500 in forgivable loans or grants, which are forgiven over five years. Those with income between 31% and 80% of the area median income may access up to $22,500—comprised of a $7,500 forgivable loan/grant and a low-interest (2%) loan of up to $15,000 amortized over 7.5 years. Applicants must meet several eligibility requirements. They must own and occupy the home throughout the term of the agreement and must be current on their mortgage, property taxes, and utilities. Applicants are also required to complete all program documentation, including an application form, income verification, credit check authorization, and relevant legal documents. Property ownership must be demonstrated through a fee simple title or a 99-year lease; contract-for-deed holders are not eligible. Additionally, homes must be insured unless the applicant is over 62 or permanently disabled and earns less than 30% of area median income—conditions under which an insurance waiver may be granted. Further program stipulations include the requirement that applicants obtain two written quotes from separate contractors for the proposed work. Upon completion, the work must be verified in writing by both the contractor and the homeowner, with checks issued jointly to both parties. Applicants are subject to a $50 application fee and may also be responsible for recording and processing fees. The Trust Fund reserves the right to inspect the completed work for compliance with local codes and program standards. Priority consideration is given to households with elderly members (over 62 years of age) or individuals with permanent disabilities. The program does not discriminate based on race, gender, orientation, national origin, or familial status, although income targeting remains a key factor in award distribution. Applicants must not have any outstanding liens from prior Trust Fund assistance to be eligible for new support. To apply, homeowners must submit a comprehensive application along with supporting documentation, including tax returns, proof of income, mortgage status, property deed, insurance verification, and contractor bids. The application is processed through the Northwest Iowa Planning and Development Commission. Interested parties may contact Staci Kleinhesselink at [email protected] or by phone at 712-262-7225 ext. 141 for more information.