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Homebuyer Assistance Program

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 10/08/2024 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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  2. Homebuyers & Renters
  3. Homebuyer Assistance Program

Homebuyer Assistance Program

The Homebuyer Assistance Program (also called HBA) opens the door to homeownership, even if you don’t have a down payment or money for the closing costs. All buyers in this program must meet NIFA’s first-time homebuyer eligibility requirements. 

This program includes a first and second mortgage loan. The interest rate for the first mortgage loan is higher because it includes down payment and closing cost assistance. The maximum amount for the second mortgage loan is 5% of the home’s purchase price. The term of the second mortgage loan is 120 months or 10 years. The interest rate on the second mortgage loan is 1%.

Loan Options & Helpful Links

The loan type options are Conventional, FHA, USDA Rural Development or VA.  For conventional loans, mortgage insurance is not required if the down payment is 20% or more.  

Other helpful links:

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