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Does NIFA have a down payment assistance program?

April 26, 2017down payment NIFA program

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Does NIFA have a down payment assistance program?

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Yes. NIFA provides assistance in the amount of 4.25% of the loan amount. This may be used for down payment or closing costs charged by the lender. The buyer is required to contribute a $500 minimum investment and execute a second mortgage that is forgiven over an 11-year period.