Program Name |
Conventional Loan Rate |
Government Loan Rate |
---|---|---|
Military Home | N/A | 5.875%* |
First Home Targeted | 6.375%* | 5.875%* |
First Home | 6.625%* | 6.125%* |
Homebuyer Assistance (HBA) | 6.875%* - 1st loan 1.000%* - 2nd loan |
6.375%* - 1st loan 1.000%* - 2nd loan |
Welcome Home++ | 7.375%* | 6.875%* |
Welcome Home Assistance (WHA)++ | 7.625%* - 1st loan 1.000%* - 2nd loan |
7.125%* - 1st loan 1.000%* - 2nd loan |
Last changed 04/18/2024 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.
The First Home Grant Program is for buyers with a total household income that does not exceed 50% of the Area Median Income (AMI). The Program provides first mortgage financing and grant funds for down payment and/or closing cost assistance. The grant amount is $5,000 per household and is not required to be paid back. There is a limited amount of funding and the funds will be allocated on a first-come, first-serve basis.
Buyers using this program must meet NIFA's first-time homebuyer requirement described in the Eligibility section.
Loan type options include a Conventional-insured loan, FHA-insured loan, USDA Rural Development-guaranteed loan and VA-guaranteed loan.
HELP US GET THE WORD OUT ABOUT THESE GRANTS!
If you have any questions, contact the NIFA Homeownership Team directly!
402.434.3900