Interest Rates

One of the benefits of a NIFA loan is our competitively priced interest rate options.  All of our first mortgage loan interest rates are fixed with a 30-year term and do not have an origination or discount fee.  Our HBA Program second mortgage loan interest rate is fixed with a 10-year term.

Current Rates (last changed 11/20/19)
Program Name

Government Loan Rate

Conventional Loan Rate
Military Home3.000%*Not available
First Home Targeted3.000%*3.375%*
First Home3.250%*3.625%*
Homebuyer Assistance (HBA)

3.750%* - 1st loan rate

1.000%* - 2nd loan rate

4.125%* - 1st loan rate

1.000%* - 2nd loan rate

*This is not an advertisement for credit as defined in Regulation Z.  Contact a NIFA participating lender for Annual Percentage Rate ("APR") information.  Our interest rates are subject to change from time to time without prior notice.

Standard Loan Reservation Option

NIFA's standard loan reservation option is valid for 60 days.  This means you have 60 days to close your loan from the time your lender enters a loan reservation in our system.  If for some reason a delay occurs with processing your loan, NIFA will work with your lender to extend the closing deadline. Please note there may be some situations NIFA will not be able to approve an extension or may need to charge an extension fee.

To help avoid delays, it is important for you to provide all documentation requested by your lender in a timely manner.

Extended Loan Reservation Option

If you are building a new home, you can select NIFA's extended loan reservation option.  This option is valid for 150 days.  There is a one-time upfront fee of .50% of your loan amount.  The fee is refundable and will be credited back to you at closing as long as your loan closes within 150 days from the time your lender enters a loan reservation in our system.  If your loan does not close within 150 days, NIFA reserves the right to keep the fee. 

You can call NIFA's toll-free number at 800-204-6432 to speak with one of our Homeownership Team Specialists (Monday-Friday 8 a.m. to 5 p.m. CT) or contact us by email.