The Iowa Financial Authority is now accepting applications from people facing housing hardship due to the COVID-19 pandemic.
IOWA, USA – The State of Iowa is launching a new program to help renters and landlords who are struggling to pay their rent or mortgage due to the COVID-19 pandemic.
This is called the Eviction and Foreclosure Prevention Program.
At Governor Kim Reynolds’ press conference on Friday, Iowa Financial Authority Director Debbie Durham outlined the program and eligibility requirements.
For rental assistance, the IFA allows payment for up to four months, starting April 1. Iowans can receive up to a maximum of $3,200. This may include two months in arrears or money that is due and should have been paid sooner.
Mortgage payment assistance starting April 1 is also provided with a maximum of $3,000, according to Durham.
To be eligible, you must be a current tenant or landlord who is at risk of eviction or foreclosure due to documented loss of income related to COVID-19 on or after March 17, 2020.
Another eligibility requirement outlined is that household income must not exceed 80% of the Median Family Income (MFI) limits for the county at the time of application.
Finally, anyone applying for this program cannot currently receive the additional $600 of the federal CARES Act stimulus unemployment benefit.
The app can be found by visit the program website. Durham noted that aid will be given on a first-come, first-served basis. The program is ready to accept 20,000 applications.
It is essential that all requested information is provided at the time of the request, Durham said.
The application will remain open until all funds are exhausted.
RELATED: Des Moines Mayor Frank Cownie Responds to Iowa Moratorium on Evictions and Foreclosures Expiring
RELATED: Governor: Rent and mortgage moratorium will not be extended in Iowa
WATCH: Full coronavirus coverage on Local 5’s YouTube channel