- Deposits
- Loans & Credit Cards
- Services
- Retirement
- Business and Commercial Banking
- Financial Services
- Resources
First Time Homebuyer Loans
American Trust aims to help everyone in the Tri-State Area reach the dream of home ownership through some very special programs. So if you haven't owned your residence for the last three years*, you can qualify for our first time homebuyer programs.
Read about them below to see which one is best suited to your situation.
- Iowa First Home
The Iowa First Home Single Family Program offers mortgage lending to individuals and families who otherwise might not qualify for a mortgage. They require less money down and typically lower rates.
- Minimum down payment: 3%
- Low interest rates
- Fixed term mortgage of 30 or 25 years
- Maximum purchase price and income limits apply (see one of our mortgage originators for details)
- Single family, owner occupied properties only
- Cannot be greater than 5 acres
- Maximum of 15% of home can be used for business purposes
- Personal service every step of the way
- Local approvals
- View our current rates
*This qualification is waived if the property is in a targeted area.
- Iowa First Home Plus
The Iowa First Home Plus Program extends greater help for families needing more financial assistance. Low down payments are combined with closing costs aid.
- Minimum down payment: 3%
- $2,500 assistance for closing costs or down payment
- Fixed term mortgage of 30 or 25 years
- Maximum purchase price and income limits apply (see one of our mortgage originators for details)
- Cannot be greater than 5 acres
- Maximum of 15% of home can be used for business purposes
- Personal service every step of the way
- Local approvals
*This qualification is waived if the property is in a targeted area.
