Revised HBA Notice to Borrower - Update #20-18

Revised HBA Notice to Borrower - Update #20-18

Current rates

Program
Name
Government
Loan Rate
Conventional
Loan Rate
Military Home2.250%*N/A
First Home Targeted2.250%*2.750%*
First Home2.500%*3.000%*
Homebuyer Assistance (HBA)3.000%* - 1st loan
1.000%* - 2nd loan
3.500%* - 1st loan
1.000%* - 2nd loan

Last changed 11/18/21 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. 

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Revised HBA Notice to Borrower - Update #20-18

Program Update #20-18 dated 5/8/20

On May 6, 2020, NIFA announced a change to the maximum second mortgage loan amount for Homebuyer Assistance ("HBA") Program loans. The maximum second mortgage loan amount calculation will include an upper ceiling of $10,000.

NIFA has revised the Notice to Borrower ("Form F") that is signed by all borrowers and non-purchasing spouses at the time of loan application.  Participating Lenders are required to use the revised Form F dated 05/2020 on HBA loans that are reserved in Lender Online on and after Monday, May 11, 2020.

Attached to the Program Update is a revised HBA Program Summary for your reference.  All other program information including marketing materials will be updated next week.

Please contact our office with any questions.  Thank you!