Single Family
Homebuyer Assistance (HBA)

NIFA's Homebuyer Assistance (HBA) Mortgage provides down payment and closing cost assistance. To qualify, the borrower must meet the same requirements as a First Home Plus Mortgage including the income and purchase price limits and the first-time homebuyer requirement.

Under the HBA Loan Program, NIFA will provide, in connection with a NIFA first mortgage loan, a second mortgage loan in an amount up to 3% of the purchase price of a single‐family residence. The HBA Loan Program provides a portion of the down payment and/or closing costs to the borrower at the time of loan closing. The loan will be structured as an amortizing second mortgage loan with monthly principal and interest payments over a 7‐year period (84 months). The HBA mortgage is assumable under certain conditions.

For a full HBA Program Summary, please click here.

The interest rate for the HBA Mortgage is generally higher than the First Home Mortgage.

Under the HBA mortgage, the borrower is required to contribute a minimum of $1000 from his or her own funds or from gift funds.

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