• The IFA loan is designed for first-time homebuyers
• To qualify as a first-time homebuyer, you must not have a home ownership interest in a primary residence in the previous three years
• The interest rate is a fixed rate; view the current IFA rate.
• The term must be for 25 or 30 years
• The maximum sales price is $200,000
• The maximum income limit for a family of three is $66,298
• The minimum down payment required is normally no more than five percent
• The borrower does not have to pay an origination fee or any discount fees

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