DES MOINES -- Principal Residential Mortgage, pan of the Principal Financial Group, will grant qualified low- and moderate-income homebuyers as much as $1,250 toward the purchase of a home.

The company has earmarked $500,000 to the program, to be shared equally among the company's 24 loan origination offices. Principal Residential Mortgage expects to originate more than 400 loans as a result of the initiative.

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