Finding And Buying Your Dream Home...

First-Time Homebuyer:

Homeowner Eligibility: The Single Family Program is NIFA's largest and most widely known program. It provides funding for mortgages made to homebuyers throughout the state who qualify as first-time homebuyers (with certain exceptions) and meet established income and purchase price limits. NIFA partners with a network of mortgage lenders throughout the state to carry out the program.

NIFA Low Interest Loans: Applicants must be first-time homebuyers unless buying a home in a NIFA Targeted Area. In order to evidence that a home has not been previously owned, applicants must provide signed copies of their federal income tax returns for the three years prior to closing. There are three exceptions, subject to program limits, to the first-time homebuyer requirement. If you lost your home due to legal action (divorce), natural disaster or required job relocation, you may still be eligible for NIFA funds.

Multi-Family Units: The program is available for the purchase of single-family homes, qualified condominium units and two-to-four family dwellings where one unit is occupied by the mortgagor. If it has two or more units, the residence must have been constructed and initially occupied as a residence at least five years before the mortgage is executed.

Where To Find A NIFA Loan: Call an agent @ Osentowski Real Estate Services and they will be happy to give you list of lenders who do NIFA Loans.

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