HFA Preferred Risk Sharing (No MI)

HFA Preferred Risk Sharing (No MI) – This down payment program offers a conventional mortgage with a 30 year fixed rate term, structured so you won’t have to pay mortgage insurance (MI) even if your down payment is less than 20 percent of your home’s purchase price.

HFA Preferred (Lo MI)

HFA Preferred (Lo MI) – This down payment program offers a conventional mortgage with a 30 year fixed rate term, but you will need to pay for mortgage insurance if your down payment is less than 20 percent.