Iowa Homeowner Assistance Fund

Term Sheet

Date: March 11, 2022 Page 1

Mortgage Reinstatement Program

Program Overview The Homeowner Assistance Fund (HAF) program was established 

under Section 3206 of the American Rescue Plan Act of 2021 (“the 

ARP”) to mitigate financial hardships associated with the coronavirus 

pandemic by providing funds to eligible entities for the purpose of

preventing homeowner mortgage delinquencies, defaults,

foreclosures, loss of utilities or home energy services, and 

displacement of homeowners experiencing financial hardship after

January 21, 2020 through qualified expenses related to mortgages and

housing.

The Mortgage Reinstatement Program will assist in preserving 

homeownership and creating housing stability by preventing 

foreclosure and displacement through the HAF. 

The Mortgage Reinstatement Program will do so by eliminating or 

reducing mortgage loan delinquencies by reinstating mortgage loans 

that are at least thirty days delinquent. Through this program, 

delinquent mortgage loans will be fully reinstated, allowing 

homeowners to remain in their homes and avoid foreclosure and 

displacement. 

Mortgage 

Reinstatement

Program Goal

To provide financial assistance to eligible Iowa homeowners to bring 

delinquent accounts associated with homeownership current to 

prevent foreclosure and displacement, thereby preserving 

homeownership and providing housing stability to Iowans in need. 

Targeted 

Population of 

Homeowners

Not less than 60 percent of amounts made available for HAF program 

expenses will be used for qualified expenses to assist homeowners 

having incomes equal to or less than 100 percent of the area median 

income household limit as published by the Department of Housing 

and Urban Development (HUD) in accordance with 42 U.S.C. 

1437a(b)(2) for purposes of the HAF.

Any amount not made available to homeowners that meet this incometargeting will be used for qualified expenses to assist homeowners 

having incomes equal to or less than 150 percent area median income 

and will be prioritized for assistance to Socially Disadvantaged 

Individuals as outlined in U.S. Department of the Treasury Guidance 

dated August 2, 2021.

Program funds will be made available to assist all Eligible Homeowners 

on a first come, first serve basis.
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 2

Eligible 

Homeowners

“Eligible Homeowners” for the Mortgage Reinstatement Program must 

meet the following criteria: 

• Homeowner must attest that they experienced a Qualified 

Financial Hardship on or after January 21, 2020 (defined 

below), or had a financial hardship that began before January 

21, 2020, but continued after that date. The attestation must 

describe the nature of the financial hardship.

• Homeowner must currently own and occupy the property as 

their primary residence.

• Homeowner must meet the Income Eligibility Requirements 

(defined below).

• The original, unpaid principal balance of the homeowner’s first 

mortgage loan, at the time of origination, cannot be greater 

than the “conforming loan limit” (as determined under the 

provisions of the Housing and Economic Recovery Act of 2008) 

in effect at time of origination.

• Homeowners who have previously filed for bankruptcy but who 

are no longer in bankruptcy may need to provide proof of court 

ordered “discharge” or “dismissal” or permission from the 

bankruptcy trustee to participate in the HAF program. 

• Homeowners whose Qualified Financial Hardship is due to a 

job loss and are not working at the time of application are 

required to provide documentation showing they are actively 

seeking work.

• The homeowner must provide all necessary documentation to 

satisfy program guidelines within timeframes established by 

IFA, including self-certification or attestation of income and 

Socially Disadvantaged Individual status, as applicable. 

Eligible Legal 

Ownership 

Structures

“Eligible Legal Ownership Structures” include only the following:

• Those where the home is owned by one or more “natural 

persons” (i.e., LLP, LP, S-Corp, or LLC do not qualify). Where 

the estate of a deceased natural person is the ownership entity, 

the owner may be eligible, subject to review by IFA. 

• Those where the homeowner has transferred their ownership 

right into non- incorporated, Living Trusts, provided the 

homeowner occupies the home as the primary/principal 

residence. 

• Those where the home is under a Purchaser’s Interest in a 

Land Contract valid under Iowa law.
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 3

• Those where the home is owned by a certificate of title.

Qualified Financial 

Hardship

A “Qualified Financial Hardship” is a material reduction in income or 

material increase in living expenses associated with the coronavirus 

pandemic that has created or increased a risk of mortgage 

delinquency, mortgage default, foreclosure, loss of utilities or home 

energy services, or displacement for a homeowner. 

• Reduction of Income: Temporary or permanent loss of earned 

income directly related to the coronavirus pandemic after 

January 21, 2020, or that began before January 21, 2020, but 

continued after that date.

• Increase in Living Expenses: Increase in out-of-pocket 

household expenses after January 21, 2020, or that began 

before January 21, 2020, but continued after that date, such as: 

medical expenses, increase in household size, or costs to 

reconnect utility services directly related to the coronavirus 

pandemic.

Homeowner 

Income Eligibility 

Requirements

To be eligible for assistance under the Mortgage Reinstatement

Program, homeowners must have incomes equal to or less than 150 

percent of the area median income (AMI) household limit (three times 

the income limit for very low-income families, for the relevant 

household size), in accordance with HUD’S FY 2021 HAF Income 

Limits. HAF participants are given two options to use in calculating 

income for eligibility determination:

• Department of Housing and Urban Development’s (HUD) 

definition of “annual income” in 24 CFR 5.609.

• Use adjusted gross income (AGI) as defined for purposes of 

reporting on Internal Revenue Service (IRS) form 1040 series 

for individual federal annual income tax purposes.

Income may be determined in two ways: 

• Annual Income: Applicants should provide at the time of 

application source documents evidencing annual income (e.g., 

wage statement, interest statement, unemployment 

compensation statement), or a copy of Form 1040 as filed with 

the IRS for the household.

• Monthly Income: Applicants should provide income source 

documentation, as listed above, for one month prior to the 

submission of the application for assistance.
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 4

Homeowner 

Prioritization

Treasury guidance requires 60 percent of amounts made available to 

the state to assist homeowners with incomes equal to or less than 100 

percent of the Area Median Income (AMI) or equal to or less than 100 

percent of the median income for the United States, whichever is 

greater. The remaining allocation to the state must be prioritized for 

socially disadvantaged individuals, and after prioritization to those 

individuals, funds will be made available to other eligible households.

The Authority will prioritize funding in the following manner: 

• Homeowners Earning 50 percent or less of the Area Median 

Income. IFA recognizes that homeowners at this income level 

are often in portfolios of government-backed and guaranteed 

mortgages and may be in most need.

• Homeowners Earning 100 percent or less of the Area Median 

Income. In accordance with HAF Guidance and recognizing 

that homeowners earning up to 100 percent of the area median 

income are overrepresented in portfolios of governmentbacked and guaranteed mortgages compared to the market as 

a whole, IFA will prioritize assistance to homeowners with 

Federal Housing Administration (FHA), Veteran’s 

Administration (VA), and United States Department of 

Agriculture (USDA) mortgages and homeowners who have 

mortgages made with proceeds of mortgage revenue bonds 

will be prioritized for assistance. 

• Socially Disadvantaged Individuals. As defined in the HAF 

Guidance dated August 2, 2021, socially disadvantaged 

individuals are those whose ability to purchase or own a home 

has been impaired due to diminished access to credit on 

reasonable terms as compared to others in comparable 

economic circumstances, based on disparities in 

homeownership rates in the HAF participant’s jurisdiction as 

documented by the U.S. Census. The impairment must stem 

from circumstances beyond their control. Indicators of 

impairment under this definition may include being a (1) 

member of a group that has been subjected to racial or ethnic 

prejudice or cultural bias within American society, (2) resident 

of a majority-minority Census tract; or (3) individual with limited 

English proficiency.

• Government Loan and Affordable Housing Portfolios. IFA will 

prioritize assistance to eligible homeowners with FHA, VA, and 

USDA mortgages and homeowners who have mortgages made 

with the proceeds of mortgage revenue bonds or other 

mortgage programs that target low- and moderate-income 

homeowners.
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 5

• Non-Traditional Loans and Properties. Recognizing the unique 

needs of homeowners in rural communities with less housing 

stock than larger MSAs, IFA will prioritize homeowners who 

would not typically be included in Government Loan and 

Affordable Housing Portfolios. IFA will be able to assist 

homeowners with less traditional financing instruments and will 

be able to provide assistance to homeowners whose property 

is a manufactured home as defined by Iowa Code Chapter 

4351

. Homeowners of manufactured housing may not be able 

to qualify for traditional loan products containing competitive 

market rates and may have mortgages with higher rates and 

shorter terms.

All remaining funds not otherwise prioritized will be made available for 

other Eligible Homeowners.

Eligible Properties Eligible properties are those that are: 

• Single-family (attached or detached) properties 

• Condominium units. 

• 2- to 4-unit properties where the homeowner is living in one of 

the units as their primary residence. 

• Manufactured homes permanently affixed to real property and 

taxed as real estate. 

• Mobile homes not permanently affixed to real property. 

Ineligible properties are those that are: 

• Vacant or abandoned. 

• Second homes. 

• Non-owner-occupied investment property.

Eligible Expenses 

of Mortgage 

Reinstatement 

Program Proceeds

The following housing obligations that have been incurred as a result 

of a Homeowner’s Qualified Financial Hardship on or after January 21, 

2020 (including a hardship that began before January 21, 2020, but 

continued after that date) are eligible “Qualified Expenses” for 

payment under the Iowa Mortgage Reinstatement Program: 

• Existing delinquent mortgage lien payments (principal, interest, 

taxes, insurances (PITI)) and escrow shortages. 

• Existing mortgage lien partial or full forbearance reinstatement 

and/or delinquent monthly forbearance payments. 

1 https://www.legis.iowa.gov/docs/code/435.pdf
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 6

• Land Contract monthly payment (principal and interest). 

• Manufactured/mobile home loan monthly payment (principal 

and interest) and lot rent, if applicable. 

• Delinquent property taxes. 

• Homeowner’s hazard, flood, and/or mortgage insurance. 

• Homeowner’s association fees, condominium association fees 

or common charges, including for lien extinguishment. 

• De minimis lender-assessed fees. 

All arrearages of qualified expenses are eligible for purposes of HAF 

regardless of the date they were incurred, including if the arose before 

January 2020 per U.S. Treasury guidance dated August 2, 2021. 

Maximum Per 

Household of 

Mortgage 

Reinstatement 

Program

Assistance

The maximum Mortgage Reinstatement Program assistance per 

household will be $25,000 and the maximum aggregate HAF

assistance per household will be $25,000 (inclusive of Mortgage 

Reinstatement Program financial assistance).

Assistance Type Assistance will be structured as a non-recourse grant.

Payout of 

Mortgage 

Reinstatement 

Program

Assistance

IFA will disburse Mortgage Reinstatement Program assistance directly 

to mortgage lender/servicer, land contract holder, 

manufactured/mobile home lender/park (lot fees), county treasurer, 

and/or condominium/homeowners’ association. 

IFA will disburse the amount quoted by the lender/servicer; any 

discrepancies to be resolved by the homeowner and lender/servicer. 

To account for processing time, IFA will provide up to two months of 

forward mortgage payment assistance, based on the Homeowner’s 

monthly mortgage payment. If the loan has been modified, appropriate 

documentation from the lender will be required. 

If Homeowner’s past due amount exceeds the amount that IFA can 

provide, Homeowner may pay the difference, and IFA will pay the 

maximum of their limit.

Program Launch IFA plans to launch the program to the public statewide in the first 

quarter of 2022, subject to the U.S. Treasury Department’s approval of 

Iowa’s IHAF Plan. The terms hereof are subject to change based on 

the foregoing.
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 7

Program Duration The period of performance for the HAF funds begins on the date 

hereof and ends on September 30, 2026. HAF recipient shall not incur 

any obligations to be paid with the funding from this award after such 

period of performance ends.

IFA plans to disburse all funds prior to the end of program date, 

September 30, 2026.

Application 

Process

Applications will be accepted online through the through a mobilefriendly online portal that will allow for the upload of all supporting 

documents. All applications will be entered into the online portal and 

reviewed on the reviewer portal.

Required 

Application 

Documentation

The following application documents may be required:

• Application;

• Third Party Authorization (TPA) and Disclosure Form;

• Qualified Financial Hardship attestation certifying that it 

occurred after January 21, 2020 (including a hardship that 

began before January 21, 2020, but continued after that date);

• Mortgage statement for each lien (e.g. first mortgage, second 

mortgage, etc.);

• Manufactured/mobile home loan statement and/or lot rental 

agreement; 

• Proof of completed loss mitigation;

• Valid Iowa identification and Social Security Number card or 

unique identifier as shown on a legal document, such as a 

federal tax return; 

• Income documentation: W2’s, paystubs, previous years’ tax 

returns or alternative income documents as applicable such as 

proof of an Income Proxy such as Unemployment, WIC, SNAP, 

FDPIR, TANF, SNP, Section 8 and any other income-based 

county, municipality, state and or federal assistance program 

(Public Assistance);

• Attestation that the homeowner is a “Socially Disadvantaged 

Individual” (if applicable); and

• Payee’s contact information and account information, if not 

listed on monthly statement.
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 8

• Any additional documents and information that IFA may 

require.

•

Program 

Exclusions

• Home repairs or improvements;

• Overpayment of HAF funds relative to Homeowner account 

may not be paid directly to Homeowner.

Program Partner 

Requirements

Lenders/servicers may be required to agree to communicate using the 

Common Data File (CDF) format provided by the Treasury. 

Private non-mortgage lenders, including manufactured/mobile home 

lenders, may be required to provide a written delinquency statement, 

contact information, and ACH account information.
Iowa Homeowner Assistance Fund

Term Sheet

Date: March 11, 2022 Page 9

Property Charge Default Resolution Program

Program Overview The Homeowner Assistance Fund (HAF) program was established 

under Section 3206 of the American Rescue Plan Act of 2021 (“the 

ARP”) to mitigate financial hardships associated with the coronavirus 

pandemic by providing funds to eligible entities for the purpose of

preventing homeowner mortgage delinquencies, defaults,

foreclosures, loss of utilities or home energy services, and 

displacement of homeowners experiencing financial hardship after

January 21, 2020 through qualified expenses related to mortgages and

housing.

The Property Charge Default Resolution Program will assist in 

preserving homeownership and creating housing stability by 

preventing foreclosure and displacement through the HAF. 

Property Charge 

Default Resolution 

Goal

To provide financial assistance to resolve any property charge default 

that threatens a homeowner’s ability to sustain ownership of the 

property, thereby preserving homeownership and providing housing 

stability to Iowans in need. 

Targeted 

Population of 

Homeowners

Not less than 60 percent of amounts made available for HAF program 

expenses will be used for qualified expenses to assist homeowners 

having incomes equal to or less than 100 percent of the area median 

income household limit as published by the Department of Housing 

and Urban Development (HUD) in accordance with 42 U.S.C. 

1437a(b)(2) for purposes of the HAF. 

Any amount not made available to homeowners that meet this incometargeting will be used for qualified expenses to assist homeowners 

having incomes equal to or less than 150 percent area median income 

and will be prioritized for assistance to Socially Disadvantaged 

Individuals as outlined in U.S. Department of the Treasury Guidance 

dated August 2, 2021.

Program funds will be made available to assist all Eligible Homeowners 

on a first come, first serve basis.

Eligible 

Homeowners

“Eligible Homeowners” for the Property Charge Default Resolution 

Program must meet the following criteria: 

• Homeowner must attest that they experienced a Qualified 

Financial Hardship on or after January 21, 2020 (defined 

below), or had a financial hardship that began before January 
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 10

21, 2020, but continued after that date. The attestation must 

describe the nature of the financial hardship.

• Homeowner must currently own and occupy the property as 

their primary residence.

• Homeowner must meet the Income Eligibility Requirements 

(defined below).

• The original, unpaid principal balance of the homeowner’s first 

mortgage loan, at the time of origination, cannot be greater 

than the “conforming loan limit” (as determined under the 

provisions of the Housing and Economic Recovery Act of 2008) 

in effect at time of origination.

• Homeowners who have previously filed for bankruptcy but who 

are no longer in bankruptcy may need to provide proof of court 

ordered “discharge” or “dismissal” or permission from the 

bankruptcy trustee to participate in the HAF program. 

• Homeowners whose Qualified Financial Hardship is due to a 

job loss and are not working at the time of application are 

required to provide documentation showing they are actively 

seeking work.

• The homeowner must provide all necessary documentation to 

satisfy program guidelines within timeframes established by 

IFA, including self-certification or attestation of income and 

Socially Disadvantaged Individual status, as applicable. 

Eligible Legal 

Ownership 

Structures

“Eligible Legal Ownership Structures” include only the following:

• Those where the home is owned by one or more “natural 

persons” (i.e., LLP, LP, S-Corp, or LLC do not qualify). Where 

the estate of a deceased natural person is the ownership entity, 

the owner may be eligible, subject to review by IFA. 

• Those where the homeowner has transferred their ownership 

right into non- incorporated, Living Trusts, provided the 

homeowner occupies the home as the primary/principal 

residence. 

• Those where the home is under a Purchaser’s Interest in a 

Land Contract valid under Iowa law. 

• Those where the home is owned by a certificate of title.

Qualified Financial 

Hardship

A “Qualified Financial Hardship” is a material reduction in income or 

material increase in living expenses associated with the coronavirus 

pandemic that has created or increased a risk of mortgage 
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 11

delinquency, mortgage default, foreclosure, loss of utilities or home 

energy services, or displacement for a homeowner. 

• Reduction of Income: Temporary or permanent loss of earned 

income directly related to the coronavirus pandemic after 

January 21, 2020, or that began before January 21, 2020, but 

continued after that date.

• Increase in Living Expenses: Increase in out-of-pocket 

household expenses after January 21, 2020, or that began 

before January 21, 2020, but continued after that date, such as: 

medical expenses, increase in household size, or costs to 

reconnect utility services directly related to the coronavirus

pandemic.

Homeowner 

Income Eligibility 

Requirements

To be eligible for assistance under the Property Charge Default 

Resolution Program, homeowners must have incomes equal to or less 

than 150 percent of the area median income (AMI) household limit 

(three times the income limit for very low-income families, for the 

relevant household size), in accordance with HUD’S FY 2021 HAF 

Income Limits. HAF participants are given two options to use in 

calculating income for eligibility determination:

• Department of Housing and Urban Development’s (HUD) 

definition of “annual income” in 24 CFR 5.609.

• Use adjusted gross income (AGI) as defined for purposes of 

reporting on Internal Revenue Service (IRS) form 1040 series 

for individual federal annual income tax purposes.

Income may be determined in two ways: 

• Annual Income: Applicants should provide at the time of 

application source documents evidencing annual income (e.g., 

wage statement, interest statement, unemployment 

compensation statement), or a copy of Form 1040 as filed with 

the IRS for the household.

• Monthly Income: Applicants should provide income source 

documentation, as listed above, for one month prior to the 

submission of the application for assistance.

Homeowner 

Prioritization

Treasury guidance requires 60 percent of amounts made available to 

the state to assist homeowners with incomes equal to or less than 100 

percent of the Area Median Income (AMI) or equal to or less than 100 

percent of the median income for the United States, whichever is 

greater. The remaining allocation to the state must be prioritized for 
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 12

socially disadvantaged individuals, and after prioritization to those 

individuals, funds will be made available to other eligible households.

The Authority will prioritize funding in the following manner: 

• Homeowners Earning 50 percent or less of the Area Median 

Income. IFA recognizes that homeowners at this income level 

are often in portfolios of government-backed and guaranteed 

mortgages and may be in most need.

• Homeowners Earning 100 percent or less of the Area Median 

Income. In accordance with HAF Guidance and recognizing 

that homeowners earning up to 100 percent of the area median 

income are overrepresented in portfolios of governmentbacked and guaranteed mortgages compared to the market as 

a whole, IFA will prioritize assistance to homeowners with 

Federal Housing Administration (FHA), Veteran’s 

Administration (VA), and United States Department of 

Agriculture (USDA) mortgages and homeowners who have 

mortgages made with proceeds of mortgage revenue bonds 

will be prioritized for assistance. 

• Socially Disadvantaged Individuals. As defined in the HAF 

Guidance dated August 2, 2021, socially disadvantaged 

individuals are those whose ability to purchase or own a home 

has been impaired due to diminished access to credit on 

reasonable terms as compared to others in comparable 

economic circumstances, based on disparities in 

homeownership rates in the HAF participant’s jurisdiction as 

documented by the U.S. Census. The impairment must stem 

from circumstances beyond their control. Indicators of 

impairment under this definition may include being a (1) 

member of a group that has been subjected to racial or ethnic 

prejudice or cultural bias within American society, (2) resident 

of a majority-minority Census tract; or (3) individual with limited 

English proficiency.

• Government Loan and Affordable Housing Portfolios. IFA will 

prioritize assistance to eligible homeowners with FHA, VA, and 

USDA mortgages and homeowners who have mortgages made 

with the proceeds of mortgage revenue bonds or other 

mortgage programs that target low- and moderate-income 

homeowners.

• Non-Traditional Loans and Properties. Recognizing the unique 

needs of homeowners in rural communities with less housing 

stock than larger MSAs, IFA will prioritize homeowners who 

would not typically be included in Government Loan and 

Affordable Housing Portfolios. IFA will be able to assist 
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 13

homeowners with less traditional financing instruments and will 

be able to provide assistance to homeowners whose property 

is a manufactured home as defined by Iowa Code Chapter 

4352

. Homeowners of manufactured housing may not be able 

to qualify for traditional loan products containing competitive 

market rates and may have mortgages with higher rates and 

shorter terms.

All remaining funds not otherwise prioritized will be made available for 

other Eligible Homeowners.

Eligible Properties Eligible properties are those that are: 

• Single-family (attached or detached) properties 

• Condominium units. 

• 2- to 4-unit properties where the homeowner is living in one of 

the units as their primary residence. 

• Manufactured homes permanently affixed to real property and 

taxed as real estate. 

• Mobile homes not permanently affixed to real property. 

Ineligible properties are those that are: 

• Vacant or abandoned. 

• Second homes. 

• Non-owner-occupied investment property.

Eligible Expenses 

of Property Charge 

Default Resolution 

Program Proceeds

The following housing obligations that have been incurred as a result 

of a Homeowner’s Qualified Financial Hardship on or after January 21, 

2020 (including a hardship that began before January 21, 2020, but 

continued after that date) are eligible “Qualified Expenses” for 

payment under the Property Charge Default Resolution Program: 

• Delinquent property taxes. 

• Homeowner’s hazard, flood, and/or mortgage insurance. 

• Homeowner’s association fees, condominium association fees 

or common charges, including for lien extinguishment. 

• Manufactured/mobile home lot rent, if applicable. 

• De minimis lender-assessed fees. 

2 https://www.legis.iowa.gov/docs/code/435.pdf
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 14

All arrearages of qualified expenses are eligible for purposes of HAF 

regardless of the date they were incurred, including if the arose before 

January 2020 per U.S. Treasury guidance dated August 2, 2021. 

Maximum Per 

Household of 

Property Charge 

Default Resolution 

Program

Assistance

The maximum Property Charge Default Resolution Program assistance 

per household will be $25,000 and the maximum aggregate HAF

assistance per household will be $25,000 (inclusive of Property 

Charge Default Resolution Program financial assistance).

Assistance Type Assistance will be structured as a non-recourse grant.

Payout of Property 

Charge Default 

Resolution 

Program

Assistance

IFA will disburse Property Charge Default Resolution Program 

assistance directly to directly to property tax offices, insurance 

companies, homeowner associations, and condo associations (Eligible 

Entity). Funds will not be disbursed to Eligible Homeowners, or any 

other non-eligible entity.

IFA will disburse the amount quoted by the Eligible Entity; any 

discrepancies to be resolved by the homeowner and Eligible Entity.

To account for processing time, IFA will provide up to two months of 

forward payment assistance, based on the Homeowner’s monthly 

property charges. 

If Homeowner’s past due amount exceeds the amount that IFA can 

provide, Homeowner may pay the difference, and IFA will pay the 

maximum of their limit.

Program Launch IFA plans to launch the program to the public statewide in the first 

quarter of 2022, subject to the U.S. Treasury Department’s approval of 

Iowa’s IHAF Plan. The terms hereof are subject to change based on 

the foregoing.

Program Duration The period of performance for the HAF funds begins on the date 

hereof and ends on September 30, 2026. HAF recipient shall not incur 

any obligations to be paid with the funding from this award after such 

period of performance ends.

IFA plans to disburse all funds prior to the end of program date, 

September 30, 2026.

Application 

Process

Applications will be accepted online through the through a mobilefriendly online portal that will allow for the upload of all supporting 
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 15

documents. All applications will be entered into the online portal and 

reviewed on the reviewer portal.

Required 

Application 

Documentation

The following application documents may be required:

• Application;

• Third Party Authorization (TPA) and Disclosure Form;

• Qualified Financial Hardship attestation certifying that it 

occurred after January 21, 2020 (including a hardship that 

began before January 21, 2020, but continued after that date);

• Most recent property tax bill;

• Most recent insurance premium;

• Most recent association dues invoice;

• Most recent lot rent bill;

• Valid Iowa identification and Social Security Number card or 

unique identifier as shown on a legal document, such as a 

federal tax return; 

• Income documentation: W2’s, paystubs, previous years’ tax 

returns or alternative income documents as applicable such as 

proof of an Income Proxy such as Unemployment, WIC, SNAP, 

FDPIR, TANF, SNP, Section 8 and any other income-based 

county, municipality, state and or federal assistance program 

(Public Assistance);

• Attestation that the homeowner is a “Socially Disadvantaged 

Individual” (if applicable); and

• Payee’s contact information and account information, if not 

listed on monthly statement.

• Any additional documents and information that IFA may 

require.

•

Program 

Exclusions

• Home repairs or improvements;

• Overpayment of HAF funds relative to Homeowner account 

may not be paid directly to Homeowner.

Program Partner 

Requirements

Lenders/servicers may be required to agree to communicate using the 

Common Data File (CDF) format provided by the Treasury. 
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 16

County Treasurers, Insurance carriers, HOA/condominium 

associations, etc. may be required to provide a written delinquency 

statement, contact information, and ACH account information.
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 17

EXHIBIT: Acceptable Documentation List3

Documentation Accepted Documents

Proof of Identification

(Only required for Head of Household 

& 2ndHomeowner)

• Driver’s license

• Passport

• State Issued ID

• Permanent Resident Card

• Other government issued photo ID

Proof of Social Security 

Number

• Social Security Card

• W2/1099 Tax Form (most recent year)

• 1040 IRS Tax Form (first two pages only; most recent 

tax year)

• Other legal document (showing name & complete 

SSN)

Proof of Household Income

(All Residents including Dependents 

18 & older/NOT full-time Student)

• One pay statement w/YTD earning from each employer

• 1040 IRS Tax Form (first two pages only; most recent 

tax year), if self-employed

• W2/1099 Tax Form (most recent year)

• Unemployment/benefit statement or payment history

• Government benefit statement

• Retirement/Pension statement

• Child support payment history

• Alimony payment statement

Proof of Delinquency • Mortgage Statement for each mortgage lien (most 

recent month)

• Property tax statement

• Condominium Association Dues

• Delinquent statement

3 The documents listed in this table is non-exhaustive. Additional documentation may be required, at the 

discretion of IFA.
Iowa Homeowner Assistance Fund

Date: March 11, 2022 Page 18

• Homeowner insurance policy delinquency statement, if 

not escrowed in monthly mortgage payment

• Mobile home consumer loan statement

• Mobile home lot rent statement

• Land Contract Agreement or Memorandum of Land 

Contract; Delinquent statement from title holder/Seller 

of land contract

Proof of Other Documents

(if applicable)

• Bankruptcy – Bankruptcy Court/Trustee Approval letter 

or Evidence of Discharge of Bankruptcy

• Death Certificate of deceased property owner

• Letters of Authority/Last Will & Testament of deceased 

property owner’s estate