Homebuyer Education Requirement - Update #21-05
Current rates
| Program Name |
Conventional Loan Rate |
Government Loan Rate |
|---|---|---|
| Military Home | N/A | 6.000%* |
| First Home Targeted | 6.500%* | 6.000%* |
| First Home | 6.750%* | 6.250%* |
| Homebuyer Assistance (HBA) | 7.000%* - 1st loan 1.000%* - 2nd loan |
6.500%* - 1st loan 1.000%* - 2nd loan |
| Welcome Home++ | 7.500%* | 7.000%* |
| Welcome Home Assistance (WHA)++ | 7.750%* - 1st loan 1.000%* - 2nd loan |
7.250%* - 1st loan 1.000%* - 2nd loan |
Last changed 04/17/2024 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
Feb 07
Lender Real Estate Agent Home / About
Homebuyer Education Requirement - Update #21-05
NIFA is making changes to our homebuyer education requirement to ensure all loans comply with Fannie Mae, Freddie Mac and other agency underwriting guidelines. The changes included in this Program Update are effective for all loan reservations dated on and after Monday, February 15, 2021. Exceptions cannot be allowed.
An updated list of Approved Homebuyer Education Classes is available in Lender Online and here.
Please let us know if you have any questions.
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