Purchase a Home Qualifier  Refinance a Home Qualifier

For the Real Estate Professional

This site is dedicated to informing the Real Estate Professional. I Blog each Friday, to keep you informed of upcoming changes, statistics, rates and lending news.  There is also links to program brochures on the right, as well as charts and news to keep informed.

Down Payment Assistance Programs in Idaho: Making Homeownership a Reality

Are you dreaming of owning a home in the picturesque landscapes of Idaho? With the rising costs of real estate, affording a down payment can often be a daunting hurdle. Fortunately, Idaho offers a range of down payment assistance programs that can help turn your dream of homeownership into a reality. In this comprehensive guide, we'll walk you through the various down payment assistance programs available in the Gem State.

1. Idaho Housing Finance Association (IHFA)

Idaho Housing Finance Association offers a variety of programs tailored to first-time homebuyers, veterans, and low-income individuals. These programs provide down payment and closing cost assistance, making it easier for eligible individuals and families to buy their first home.  Find out more here:

2. USDA Rural Development Loan
If you're looking to settle in rural areas of Idaho, the USDA Rural Development Loan might be your ticket to homeownership. This program provides low-interest loans and grants to eligible buyers, helping them secure affordable financing without a hefty down payment.  Find out more  here:

3. Federal Housing Administration (FHA) Loans
Backed by the federal government, FHA loans are popular among homebuyers with limited funds for a down payment. These loans offer competitive interest rates and require a lower down payment compared to conventional mortgages.  Find out more here:

4. Idaho First-Time Home Buyer Savings Account
Idaho residents can take advantage of this unique program that allows them to save money specifically for the purchase of their first home. Contributions to this account are tax-deductible, and the earned interest is also tax-free.

5. Good Neighbor Next Door Program
Teachers, law enforcement officers, firefighters, and emergency medical technicians can benefit from the Good Neighbor Next Door Program. This initiative offers significant discounts on homes in designated revitalization areas, making homeownership more affordable for those who serve their communities.

6. Native American Direct Loan (NADL) Program
For eligible Native American veterans, the NADL program provides the opportunity to secure a VA-backed loan with favorable terms, including no down payment requirement.

7. Idaho Community Reinvestment Home Loan Program
This state-funded program assists low- to moderate-income homebuyers by offering low-interest loans and down payment assistance. It's aimed at revitalizing local communities and promoting affordable homeownership.

8. Idaho Housing and Finance Association's Good Credit Reward Program
If you've maintained good credit, this program can provide financial incentives to help you cover down payment and closing costs. It's a way to acknowledge responsible financial habits and make homeownership more attainable.  Find out more here:

9. Employer-Assisted Housing Programs
Some employers in Idaho offer housing assistance programs to attract and retain employees. These programs may include down payment assistance, homebuyer education, and favorable home loan terms.

In conclusion, navigating the world of down payment assistance programs in Idaho doesn't have to be overwhelming. With these diverse options, aspiring homeowners can find the support they need to achieve their real estate goals. Whether you're a first-time buyer, a veteran, or someone in a specific profession, these programs open doors to affordable homeownership.


Posted by 375loan at 8/15/2023 12:24:00 AM


Answer a few SIMPLE Questions and experience why we are always the 1st Choice in Idaho!

Purchase a Home Qualifier Refinance a Home Qualifier


1st Choice Mortgage Company, LLC BBB Business Review, boise, nampa, caldwell, kuna, eagle