Changes to HFA Preferred Loan Product - Update #19-24
Current rates
| 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.
News Types
Sep 15 2019
Changes to HFA Preferred Loan Product - Update #19-24
Program Update #19-24 dated 9/16/19
NIFA is releasing Program Update #19-24 as a replacement to Program Update #19-22 concerning changes to the HFA Preferred loan product. After further review, NIFA will finance HFA Preferred loans made to borrowers whose income exceeds the Fannie Mae imposed 80% AMI limits by county (but in all cases does not exceed the NIFA household program income limits).
Fannie Mae will use the DU first run date to determine loan qualification and the applicable mortgage insurance coverage. The DU first run effective date is on and after September 5, 2019.
Please don't hesitate to contact our office with any questions.
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