Down Payment / Closing Cost Assistance Program

The City of Sioux City offers MyPad – a down payment/closing cost assistance program. This program provides a minimum of $1,000 and a maximum of $14,999 in down payment/closing cost assistance to home purchasers who meet program requirements. Amount of assistance needed is dependent upon the applicant’s circumstances and will be the minimum amount of cash needed to close. Applicants with a need of less than $1,000 are not eligible for assistance.

1) Applicant must be preapproved for a loan from a bank without a co-signer.
2) Applicant and all household members must be U.S. Citizens or legal resident aliens.
3) If Applicant is married, both spouses must be listed as co-applicants and must sign all paperwork.
4) Applicant must purchase a single family dwelling within the city limits of Sioux City, Iowa.
5) Applicant must not currently own a home (unless it is a mobile home).
6) Purchase price cannot exceed $128,000.
7) Only owner-occupied or vacant rental property is eligible for purchase under this program. Seller must certify. Mobile home purchases are not eligible.
8) Home to be purchased must be used as primary residence of applicant.
9) Home must pass a Uniform Physical Condition Standards (UPCS) Inspection (performed by the City of Sioux City) prior to purchase.
10) Short sales, homes that are winterized, or homes for sale “as is” will not be approved.
11) Applicant’s monthly housing debt, including property taxes, property insurance, and mortgage insurance and homeowner’s association dues (if applicable) cannot exceed 31 percent of the household’s monthly gross income.
12) Applicant’s monthly cost for housing (rent or mortgage, property insurance, real estate taxes, and if applicable mortgage insurance and homeowner’s associations dues) plus all other household monthly debt (including credit cards, student loans, automobile payments, etc.). cannot exceed 43 percent of the household’s monthly gross income.
13) Applicant’s household income may not exceed the following (income guidelines change each spring):


Household Size Annual Income
1 person $34,650
2 person $39,600
3 person $44,550
4 person $49,450
5 person $53,450
6 person $57,400
7 person $61,350
8 person $65,300


Applicants that believe they meet the guidelines above may go to to print an application for the MyPad Program. Questions may be directed to 712-279-6255.

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