First-Time Homebuyer Savings Account
A saving accounts that focuses on the future of homeownership
Take the first step toward homeownership with a savings account designed to help eligible Iowans prepare for the purchase of their first home. The Iowa First-Time Homebuyer Savings Account (FTHSA) offers potential state tax advantages while helping you build your down payment and other qualifying home purchase expenses.
Is a First-Time Homebuyer Savings Account Right for You?
This account may be a great choice if you
- Are saving to purchase your first home
- Want to take advantage of potential Iowa tax benefits
- Are building funds for a down payment or other eligible homebuying expenses
- Want a dedicated account to help you stay focused on your savings goal
Benefits & Features
Save today. Move home tomorrow.
Benefits
- Save with confidence toward one of life's biggest financial milestones
- Take advantage of potential Iowa state tax deductions for eligible contribution
- Choose the savings option that best fits your financial goals
- Keep your homebuying savings separate from your everyday finances
Features
- Available as either a Standard Savings Account or a Money Market Account
- Funds must be used according to the Iowa First-Time Homebuyer Savings Account program requirements
- Program eligibility and qualified expenses are established by the State of Iowa
- Additional program information is available through the Iowa Department of Revenue
Why First National Bank?
Banking that's personal
Buying your first home is an exciting milestone, and First National Bank is here to help you prepare for it. Whether you're just beginning to save or are ready to explore mortgage options, our local team is committed to helping you every step of the way.
Ready to Start Saving for Your First Home?
Open a First-Time Homebuyer Savings Account and begin building toward homeownership with guidance from a team that's invested in your success.
Eligibility and tax benefits are subject to the Iowa First-Time Homebuyer Savings Account law. Please review the program requirements and consult your tax advisor regarding the state and federal tax implications of contributions and distributions. Additional information is available through the Iowa Department of Revenue.
