First-time homebuyers
Buying your first home doesn't have to be a guessing game. I know this market, I know these houses, and I know the programs that can put money back in your pocket at closing.
Real estate is real.
A photo can make any room look good. There's no substitute for walking through a property in person. I always make sure to take a close look at the things that tend to matter most before moving forward.
I've personally bought and invested in properties right here in Mason City, and I've remodeled over a dozen homes in the area. That experience gives me a practical understanding of what goes into a house — and what to pay attention to when you're considering one.
You may not have to pay closing costs out of pocket.
Closing costs typically run 2–5% of the purchase price and catch a lot of first-time buyers off guard. What most people don't know is that closing costs can be negotiated into the offer — meaning the seller covers them instead of you. Combined with available grant programs, buyers who plan ahead can significantly reduce what they owe at closing. Every transaction is different and outcomes depend on market conditions, negotiation, and eligibility.
How programs can stack together.
Depending on your situation, it may be possible to combine a state grant, a down payment assistance loan, and seller-paid closing costs in a single transaction. The goal is to understand every tool available before you make an offer — not after. That's where having the right broker makes a real difference.
Programs most first-time buyers don't know exist.
The Iowa Finance Authority offers below-market interest rates and down payment assistance through approved lenders. These programs are available statewide and can significantly reduce what you pay upfront. Eligibility requirements and income limits apply.
FirstHome program
Below-market interest rates on FHA, VA, USDA, and conventional loans. For buyers who haven't owned a home in the past 3 years. Minimum credit score of 640.
FirstHome Plus
Everything in FirstHome plus additional down payment assistance built in. Designed for buyers who need extra help covering upfront costs at closing.
Homes for Iowans
Available to first-time and repeat buyers. Competitive rates with higher income and purchase price limits than FirstHome. Down payment assistance available.
$2,500 FirstHome grant
A straight $2,500 toward down payment and closing costs. No repayment required. Paired with the FirstHome mortgage program.
Down payment assistance loan
Up to 5% of the purchase price as a deferred second loan. No monthly payments — only repaid when you sell, refinance, or pay off your mortgage.
Military Homeownership grant
$5,000 grant for eligible veterans and active service members. Can be stacked with FirstHome or Homes for Iowans. No repayment required.
IFA Participating Lender
Looking for a lender who knows Iowa's homebuyer programs? Isaac Young at New American Funding is an IFA participating lender based in the area.
View Isaac Young's profile ↗This is provided as a resource only. Hollister Property Management has no financial relationship with this lender.
IFA loans include a free Iowa Title Guaranty Owner's Certificate — which may replace costly title insurance and save you money at closing. Your credit score does not affect your interest rate on IFA loans. View current IFA rates →
Your loan type determines how much you put down.
Each loan type has different requirements and can be paired with Iowa state assistance programs. A good lender will help you figure out which combination works best for your situation.
FHA loan
Flexible credit requirements. Great for buyers with limited savings. Requires mortgage insurance until refinanced or paid off.
VA loan
For eligible veterans and active-duty service members. No down payment, no private mortgage insurance. One of the strongest loan products available.
USDA loan
For homes in eligible rural areas. No down payment required. Some areas around Mason City may qualify — worth checking.
Conventional loan
Best for buyers with stronger credit. Mortgage insurance drops off at 20% equity — an advantage over FHA long term.
How buying your first home works.
Straightforward from start to finish. Here's what to expect.
Call me first
Before anything else, get clear on your situation — income, credit, what you're looking for, what you can afford. A quick conversation with a broker and a lender will tell you more than hours of searching online.
Get pre-approved
Work with a participating IFA lender who knows Iowa's programs inside and out. Pre-approval tells you exactly what you can afford and shows sellers you're serious.
Find the right home
Find properties that fit your budget in Mason City and the surrounding area. Having someone in your corner who knows the local market — and knows what these houses actually cost to maintain — makes a real difference.
I negotiate for you
I write the offer and negotiate on your behalf — including working to have closing costs addressed in the transaction where possible. My job is to get you the best deal, not just close a sale.
Close on your home
With the right programs in place, many first-time buyers in Iowa close with far less out of pocket than they expected. You'll work with your lender, title company, and broker through to closing day.
When you're ready, I'm here.
No pressure. Take your time, do your research, and reach out when it makes sense for you.
Hollister Property Management helps first-time homebuyers in Mason City, Iowa navigate available loan programs and down payment assistance. Ready to make the move from renting to owning? Browse our available properties in the Mason City area, or contact us to learn which first-time homebuyer programs in Iowa may be right for you.
When you're ready, I'm here.
No pressure. Take your time, do your research, and reach out when it makes sense for you.