The HFA Preferred™(Lo MI) loan, mortgage insurance is provided by one of several private mortgage insurance companies when the borrower puts down less than 20 percent (20 %) towards the purchase of the home.
This program also provides a refinance option for homeowners seeking to lower their current monthly mortgage payment on their primary residence. Cash back is limited to $2,000 or two percent (2 %) of the balance of the new PHFA loan, whichever is less. Click here to learn more.
Contact: Kate Newton
Additional Information: 30 years- life of loan