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First Time Homebuyers Savings

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FIRST-TIME HOMEBUYER SAVINGS ACCOUNTS

The State of Iowa has established an Iowa First-Time Homebuyer Savings Account program, which may offer tax advantages on savings for qualified home purchases in Iowa. Accounts may be established by qualifying first-time homebuyers or by others on behalf of qualifying first-time homebuyers. It is important to understand the requirements of the program and you may want to consult your tax advisor.

Home Buyer Savings Includes:

  • No minimum to open.
  • Earn variable interest rates.
  • May claim a deduction for Iowa individual income.

You can learn more about this program by visiting https://tax.iowa.gov/ and searching First-Time Homebuyer Savings Account.
 
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