STATEWIDE PROGRAMS

Good Credit Rewards Program
Idaho Housing and Finance Association offers rewards creditworthy homebuyers with financial assistance in the form of several downpayment assistance loan products.

Second Mortgage

Assistance Available:
Up to 3.5% of the mortgage is available for downpayment assistance and closing costs. This is a 10 year loan at 5% fixed rate of interest with low monthly payments.

Qualifications:
Income limits up to $110,000 may apply. You must complete a Home Homebuyer Education course if you are a first time homebuyer. You must contribute a minimum of 0.5% of your own savings. Borrowers with credit scores of 680 can combine loan products.

Forgivable Grant

Assistance Available:
You do not have to be a first time homebuyer. A 3.5% seven year forgivable grant is available through Idaho Housing and Finance Association.You can use the grant to refinance an existing mortgage. A lien is placed on the property to secure the grant. You must contribute 0.5% of your own savings. First time homebuyers must complete a Home Homebuyer Education course.