First-Time Home Buyer Savings
The State of Iowa has established an Iowa First-Time Homebuyer Savings Account program, which may offer tax advantages on savings for qualified home purchases in Iowa. Accounts may be established by qualifying first-time homebuyers or by others on behalf of qualifying first-time homebuyers. It is important to understand the requirements of the program and you may want to consult your tax advisor.
Home Buyer Savings Includes:
- No minimum to open.
- Earn variable interest rates.
- Six transfers or withdrawals per month by pre-authorized, automatic, Hills Bank OnlineTM, telephone, check, draft, debit card, or similar order to third parties.
You can learn more about this program by visiting https://tax.iowa.gov/ and searching First-Time Homebuyer Savings Account.