The first-time homebuyer savings account program allows individuals to make tax-deductible contributions toward qualified home purchases in Iowa. Accounts can be opened by qualifying first-time homebuyers, or by others who are already homeowners on behalf of qualifying first-time buyers. The funds in these accounts can be used for a down payment and closing costs for a principal single-family residence within the state of Iowa. It is important to understand the requirements of the program, and you may want to consult your tax advisor before opening an account.

Home Buyer Savings Accounts features include:

• No minimum to open.
• Earn variable interest rates.
• Six transfers or withdrawals per month by pre-authorized, automatic, Hills Bank Online, telephone, check, draft, debit card, or similar order to third parties.