Iowa Finance Authority awards $44,000 from State Housing Trust Fund to support homeownership education

September 13, 2010 – (RealEstateRama) — State Housing Trust Fund grant supports Iowa Home Owner Education Project (IHOEP) Des Moines, Iowa – The Iowa Finance Authority (IFA) Board of Directors recently approved a $44,000 grant to the Iowa Home Ownership Education Project (IHOEP) to support homeownership education efforts across the state. The funding is made available through the State Housing Trust Fund’s Project-Based program. The program provides financing for the development of affordable homeownership opportunities.

IHOEP will use the funds to support its grant program for its nonprofit agencies. This award is projected to provide more than 540 Iowans with homeownership education, which may include a variety of services, such as: pre-purchase and homeownership education counseling, financial literacy education and antipredatory lending education and outreach. IHOEP accepts grant applications twice a year and awards each successful applicant up to $5,000.

“IFA is pleased to partner with IHOEP in providing assistance to homeownership education efforts across the state, said IFA Executive Director Joe O’Hern. “Through IFA’s partnership with IHOEP and other agencies the Iowa Mortgage Help initiative has processed more than 11,700 applications and provided 1,200 Iowans with more than 6,000 hours of free legal service through Iowa Legal Aid since the program’s inception in early 2008. This grant will assist in helping even more homeowners in need with a variety of services.”

“The support of the State Housing Trust Fund’s Project-Based program for homeownership education and housing counseling will fill a great need for numerous nonprofit agencies,” said IHOEP Executive Director Stephanie Preusch. “The funding will help a wide-range of Iowans, from individuals needing pre-purchase counseling to fulfill the dream of homeownership to homeowners needing budget and credit counseling to maintain successful homeownership.”

The Iowa Legislature created The Iowa Finance Authority, the state’s housing finance agency, in 1975 to undertake programs to assist in the attainment of housing for low-and moderate-income Iowans.

Ashley Jared: 515-494-6213

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