HFA Preferred Risk Sharing

HFA Preferred Risk Sharing This Iowa down payment program, used in conjunction with one of the programs listed above, gives home buyers the opportunity to put just 3 percent Iowa down and still avoid mortgage insurance. However, Iowa borrowers will be subject to above market interest rates to compensate for the lack of MI. According to the Iowa Finance Authority, HFA Preferred Risk Sharing option still provides for the lowest monthly payment when compared to an FHA mortgage or a conventional mortgage with mortgage insurance.