Changes to Online Approved Homebuyer Education Classes - Update #20-08

Changes to Online Approved Homebuyer Education Classes - Update #20-08

Current rates

Program
Name
Conventional
Loan Rate
Government
Loan Rate
Military Home N/A 5.375%*
First Home Targeted 5.875%* 5.375%*
First Home 6.125%* 5.625%*
Homebuyer Assistance (HBA) 6.375%* - 1st loan
1.000%* - 2nd loan
5.875%* - 1st loan
1.000%* - 2nd loan
Welcome Home++ 6.875%* 6.375%*
Welcome Home Assistance (WHA)++ 7.125%* - 1st loan
1.000%* - 2nd loan
6.625%* - 1st loan
1.000%* - 2nd loan

Last changed 03/25/2024 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.

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Changes to Online Approved Homebuyer Education Classes - Update #20-08

Program Update #20-08 dated 3/20/20

NIFA is announcing changes to the online Approved Homebuyer Education Classes for all Homeownership Programs.  We are making this change in an effort to reduce the number of class options and to better align the homebuyer curriculum to government sponsored enterprise ("GSE") standards.  We have established a transition period based on the issuance/completion date of the education completion certificate.

Completion Certificates Dated Prior to 4/1/20:  NIFA will allow education completion certificates from one of the Approved Homebuyer Education Class online providers included on the list dated 4/3/18.

Completion Certificates Dated On and After 4/1/20:  NIFA will require education completion certificates from one of the Approved Homebuyer Education Class online providers included on the list dated 3/20/20.

Please do not hesitate to reach out to anyone on the Homeownership Team with questions.  Thanks for your continued support and partnership!