About the Program
The Housing RLF program is designed to work with developers, builders, and lenders to develop affordable housing projects throughout Clayton County. The project must not begin prior to application approval. No physical work may commence before funding is officially authorized in order to remain eligible.
Purpose - To provide financing for the construction of new houses in Clayton County lowa. The program is to assist with gap financing for single family, duplex, triplex or condo construction.
Program Details
Individual, must be of age 18 or older, have a local lender verify the funding line of credit for a construction loan on a new house being built in Clayton County. The new house will have an owner-occupied tenant. Construction must not have begun.
Individual, must be of age 18 or older, have a local lender verify the funding line of credit for a construction loan on a new house being built in Clayton County. The new house will have an owner-occupied tenant. Construction must not have begun.
New house construction offers up to $40,000.00 at 1% interest fixed for 2 years, in support of a construction loan with a local lender. Local lender must sign and show a line of credit for the construction of the new house. The housing RLF loan is paid back to CCDG when the construction loan is moved to a mortgage.
There is no penalty in paying the loan off early.
Not Available for second homes, vacation homes, or rental housing.
A housing RLF loan application submitted to CCDG A $50.00 non-refundable application fee, a line of credit from a local Lender:
- Central State Bank
- Citizen State Bank
- Community Savings Bank
- Farmers Savings Bank
- Fidelity Bank & Trust
- FreedomBank
- Luana Savings Bank
- Peoples State Bank.
- Community Project Funding Grant
- Hinson Federal Grant
- NE IA Regional Housing Trust Fund
- Upper Mississippi Gaming Corporation
- Clayton County Supervisors
- Clayton County Development Group
- Roger and Connie Halvorson Family Endowment
Application Procedure
To Apply:
Download and send your completed application to the Clayton County Development Group.

- 200 E Bridge Street Elkader, IA
- 563-245-2201 (Office)


