Revised HBA Notice to Borrower - Update #20-18

05/08/2020

Program Update #20-18 dated 5/8/20

On May 6, 2020, NIFA announced a change to the maximum second mortgage loan amount for Homebuyer Assistance ("HBA") Program loans. The maximum second mortgage loan amount calculation will include an upper ceiling of $10,000.

NIFA has revised the Notice to Borrower ("Form F") that is signed by all borrowers and non-purchasing spouses at the time of loan application.  Participating Lenders are required to use the revised Form F dated 05/2020 on HBA loans that are reserved in Lender Online on and after Monday, May 11, 2020.

Attached to the Program Update is a revised HBA Program Summary for your reference.  All other program information including marketing materials will be updated next week.

Please contact our office with any questions.  Thank you!