Upper Explorerland RPC is excited to announce that they are the recipients of TWO HOME Investment Partnership Program Awards with funds of $800,000 from Iowa Finance Authority. These funds will be used to assist 10 First Time Homebuyers with down payment and rehabilitation assistance in the City of Oelwein and 10 First Time Homebuyers in the communities of Garnavillo, Strawberry Point and McGregor. The awards of the HOME funds were matched with a local commitment from each of the cities.
Upper Explorerland RPC realizes first time homebuyers must make sacrifices to save enough for a down payment on a home, but for some it seems impossible to be able to find the funding to close on the desired home. With the award of the HOME funds homebuyers can receive up to $24,999 in assistance. This program is an affordable way for homebuyers to realize their dream of homeownership. Assistance is in the form of a 10 year receding forgivable loan.
Below are the income guidelines by household size.
| Household Size | Gross Income |
| 1 | 33,250 |
| 2 | 38,000 |
| 3 | 42,750 |
| 4 | 47,450 |
| 5 | 51,250 |
| 6 | 55,050 |
| 7 | 58,850 |
| 8 | 62,650 |
For more information on the General Homebuyer Assistance Program or the income guidelines please contact Lori Brockway at Upper Explorerland RPC, at 563-864-7551 ext. 106.
Equal Housing Opportunity