May 15, 2019 19-11

Final Advanced Notice of Upcoming Revised Program Acquisition/Purchase Price and Income Limits

Revised program Acquisition/Purchase price limits:

MFA’s updated Household Income Limits and Purchase Price Limits will be effective with loans reserved on May 20, 2019 and thereafter regarding the FirstHome and NextHome programs. The updated limits will apply to the FirstDown and NextDown programs as well. 

Revised limits reflect various changes among counties- please note while some county limits increased, others decreased. The NextHome limits remain unchanged for the upcoming 2019 – 2020 revision cycle.

Participating lenders are encouraged to reserve funds for borrowers who currently meet both purchase price and income eligibility requirements before the close of business on Friday, May 17, 2019.  MFA cannot grant any exceptions regarding income or purchase price limits.

The HomeNow income and acquisition and purchase price limits will be released at a later date when the final limits are received. We recognize the inconvenience and confusion this may cause, but unfortunately this is out of our control.

Click here to view MFA’s current income and purchase price limits.

Please feel free to contact MFA’s Homeownership Department with any questions or for further clarification.  

Thank you for participating in MFA’s Single Family program.