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April 6, 2017

Military Homeownership Assistance Program Funding Update

As of April 6, 2017, all funding made available for the Military Homeownership Assistance Program (MHOA) for the fiscal year ending June 30, 2017 has been reserved.

At this time, reservations for this program are on a wait list basis and grants will only be funded if and when a new appropriation is approved by the State Legislature. 

Reservations to the wait list must be made through Lender Online. Please continue to submit pre-close packages in accordance with current guidelines.

IFA will review the file for eligibility and will provide correspondence regarding that review. But we will not issue a down payment assistance commitment until it has been determined that funds will be available. 

Eligible wait list applicants will be credited by IFA if and when a new allocation becomes available. The credit will be in the form of a principal reduction for closed loans.

Grant funds reserved after April 6, 2017, should not be applied at closing.

We will provide updates as we receive more information.

Please contact the  IFA Single-Family team, with any questions: 800.432.7230. 
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