Iowa First-Time Homebuyer Mortgage Rate Information: May 18, 2016

Current Iowa Finance Authority (IFA) Interest Rates (As Of May 18, 2016):    

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  IOWA FINANCE AUTHORITY RATE WATCH: 

The Iowa Finance Authority's interest rates as of Wednesday May 18, 2016 at 9:00 A.M. are below.  Get rates online any time, and view the printable version at: IowaFinanceAuthority.gov/Rates. Mortgage rate lock-in period is 60 days. In the event reservation period expires, the loan may be relocked within ten days of scheduled closing at higher of original or current rate and fees, as applicable.          Government Insured   Conventional  Conventional FirstHome* FHA/VA/RD HFA Preferred No MI Risk Sharing  Rate 3.375% 3.75%  4.25% Origination Fee Up to 1% Up to 1%  Up to 1%  Discount Point 0 0  0 SMF None None  None          FirstHome Plus          Rate 3.625% 4.00%  4.50% Origination Fee Up to 1% Up to 1%  Up to 1%  Discount Point 0 0  0 SMF None None  None         Homes for Iowans*          Rate 3.50% 3.875%  4.375% Origination Fee Up to 1% Up to 1%  Up to 1%  Discount Point 0 0  0 SMF None None  None         Homes for Iowans Plus          Rate 4.0% 4.375%  4.875% Origination Fee Up to 1% Up to 1%  Up to 1%  Discount Point 0 0  0 SMF None None  None *Please see the Iowa Finance Authority Program and Conventional Product parameters for additional eligibility information.    Once a bona-fide purchase agreement has been executed, rates may be locked for 60 days by an IFA Participating Lender using our online lender portal, Lender Online. The applicable mortgage loan must close during the lock period and must be delivered to IFA's servicer within 30 days of closing to receive the rate and pricing listed above.

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