New Income Limits for Freddie Mac HFA Advantage

Posted On: August 1, 2019 by Northeast Iowa Regional Board of Realtors in:

The Freddie Mac HFA Advantage product is available and offered exclusively through the Iowa Finance Authority.  Important HFA Advantage Product Notes: Is not eligible for use on manufactured homes Does not allow co-signers The free Credit Smart program may be used to fulfill the home buyer education requirement - this is offered exclusively with the HFA Advantage product Income limits are set by the Iowa Finance Authority   Freddie Mac HFA Advantage Down Payment Subsidy Options   $2,500 in down payment and closing cost assistance is available to home buyers with incomes of 50% of the Area Median Income or less   $1,500 in down payment and closing cost assistance is available to home buyer’s with household income between 50.01% - 80% of the Average Median Income   The...