5(h) Affordable Homeownership Program
The Des Moines Municipal Housing Agency (DMMHA) sells its homes, former Public Housing rentals, located throughout the city of Des Moines to eligible participants.
If you have reasonably good credit and have worked at a job for at least a year, you may be eligible to buy one of these homes at a great price. Houses are being sold at 2/3 of the appraised value; the other 1/3 will be forgiven if you uphold your agreement with the City. The houses are two, three, or four bedroom single family homes.
If interested, you must submit an application for the 5(h) Affordable Homeownership Program. The application may be downloaded or picked up at the Housing Services department, located in Suite 101 of Park Fair Mall, 100 E Euclid Avenue, Des Moines, Iowa 50313. You may also download or view the application instructions.
The following are applicant requirements for 5(h) Affordable Homeownership Program
• Submit a 5(h) Affordable Homeownership Program Application
• Annual income of at least $20,000, but not to exceed maximum program income limits
• Pre-screening by the DMMHA to ensure that you do not have a history of criminal activity:
Previous rental history
Past participation in a federally subsidized housing assistance program
• Homeownership counseling
• Approval for financing
• Home must be owner occupied for at least 7 years
The City of Des Moines Housing Services Department received approval from the U.S. Department of Housing and Urban Development (HUD) to sell 394 Public Housing units (two, three, or four bedroom homes; duplexes, and row houses). The properties will be sold over an 8-10 year period. Approximately 50 units per year will be sold at reserved minimum bid prices.