Non-Permanent Resident Alien & DACA Changes - Update #21-04

Non-Permanent Resident Alien & DACA Changes - Update #21-04

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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Non-Permanent Resident Alien & DACA Changes - Update #21-04

Program Update #21-04 dated 2/1/21

NIFA is sending this Program Update to share changes announced by U.S. Bank to align with new guidelines released by the Federal Housing Administration ("FHA"), Fannie Mae and Freddie Mac ("the Agencies") for Non-Permanent Resident Aliens and Deferred Action for Childhood Arrivals ("DACA") borrowers.

Effective immediately, NIFA will adopt the new FHA, Agency and U.S. Bank guidelines for all first mortgage and second mortgage loan programs.