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Homebuyer Assistance Program

Current rates

Program
Name
Conventional
Loan Rate
Government
Loan Rate
Military HomeN/A5.625%*
First Home Targeted6.125%*5.625%*
First Home6.375%*5.875%*
6.625%* - 1st loan
1.000%* - 2nd loan
6.125%* - 1st loan
1.000%* - 2nd loan
6.875%*6.375%*
7.125%* - 1st loan
1.000%* - 2nd loan
6.625%* - 1st loan
1.000%* - 2nd loan

Last changed 12/1/22 at 9:00 a.m
*This is not an advertisement for credit as defined in Reg.Z; contact a participating NIFA lender for Annual Percentage Rate (APR) information. Rates are subject to change without prior notice. 

++An origination fee up to 0.50% of the loan amount may be charged by Lender.

Homebuyer Assistance Program

The Homebuyer Assistance Program (also called HBA) opens the door for first time homebuyers, even if they don’t have a down payment or money for the closing costs. Our HBA Program can help people buy their home with a minimum investment of $1,000. All buyers in this program must meet NIFA’s first-time homebuyer eligibility requirements

This program includes a first and second mortgage loan. The interest rates for the first mortgage are established and published by NIFA. The maximum amount for the second mortgage loan is 5% of the home's purchase price. The term of the second mortgage loan is 120 months or 10 years. The interest rate on the second mortgage loan is 1%.

Note: There may be situations where the minimum investment needs to be more than $1,000 depending on the type of loan (government or conventional) and the amount of closing costs the seller is willing to pay. 

Loan Options & Helpful Links

Loan type options are a conventional-insured, FHA-insured, USDA Rural Development-guaranteed or VA-guaranteed. NIFA doesn’t require mortgage insurance if the down payment is 20% or more and if buyers qualify for a conventional loan.

Other helpful links: