Down Payment and closing
cost Assistance!

Idaho Housing and 1st Choice Mortgage combine to give
Home buyers a spectacular home loan product.

 

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Down Payment Assistance Video for Home Loans

Down Payment Assistance | Closing Cost Assistance

1st Choice Mortgage and Idaho Housing offers closing cost assistance and down payment assistance to homebuyers in the State of Idaho!  For qualified borrowers, these down payment and closing costs programs can reduct the amount of cash needed to bring to closing for home buyers.  Check out the down payment assistance and closing costs assistance programs below and give us a call today!

Combine that with a Low Interest Rate 1st Time Home Buyer Mortgage from Idaho Housing, and it turns out to be a SWEET DEAL!

Forgivable Grant

  • Provides up to 3.5% of purchase price as a  Gift towards Down Payment and Closing Costs.
  • 0% Interest for 7 years
  • 100% forgivable after 7 years.
  • 1st Time Home Buyers Eligible
  • 2nd Time Home Buyers Eligible
  • Use with FHA and Conventional
  • Use with Rural Development
  • Minimum FICO: 620
  • Forgivable Grant

*Income Restrictions. <$110,000 Income

 

2nd Mortgage Conventional Loan

  • Provides up to 2.5%, Low Interest Rate.
  • 2nd Mortgage for Down Payment OR Closing Costs
  • 1st Time Home Buyer
  • 2nd Time Home Buyer
  • Is a Second Mortgage: Yes
  • Use with Conventional
  • Minimum FICO: 680 
  • Minimum Borrower needs for Closing: .50% of Purchase Price
  • Mortgage Conventional Loan

*Income Restrictions.  <$110,000

 

2nd Mortgage FHA Loan

  • Provides up to 3.5%, Low Interest Rate
  • 2nd Mortgage for Down Payment OR Closing Costs
  • 1st Time Home Buyer
  • 2nd Time Home Buyer
  • Is a Second Mortgage: Yes
  • Use with FHA
  • Use with Conventional
  • Minimum FICO: 640
  • Minimum Borrower needs for Closing: .50% of Purchase Price
  • 2nd Mortgage FHA Loan

*Income Restrictions. See Below

 

Forgivable Grant PLUS 2nd Mortgage

  • Provides up to 7% towards Down Payment AND/OR Closing Costs.
  • 2nd Mortgage up to 3.5% for FHA and 2.5% for Conventional
  • Forgivable Grant up to 3.5%
  • 1st Time Home Buyer
  • 2nd Time Home Buyer
  • Use with Conventional
  • Use with FHA
  • Minimum FICO: 640 and 680
  • Minimum Borrower needs for Closing: .50% of Purchase Price
  • Forgivable Grant

​*Income Restrictions. CALL for Complete Details

Home DPACC
(Temporarily Suspended)

  • Provides minimum $1000.
  • Maximum $14,999 or 10% of purchase price.
  • Silent 2nd for Downpayment or Closing Costs (No Monthly Payments)
  • 1st Time Home Buyer
  • 2nd Time Home Buyer
  • Is a Second Mortgage: Silent
  • Use with FHA
  • Use with Conventional
  • Use with Rural Development
  • Minimum FICO: 620
  • Minimum Borrower needs for Closing: $500
  • Home DPACC

*Income Restrictions. See Below.

 

Boise City 2nd Mortgage

  • City of Boise Provides up to $35,000 or 25% for Down Payment**
  • 1st Time Home Buyer In Boise
  • 2nd Time Home Buyer In Boise
  • Is a Second Mortgage: Yes
  • Use with FHA
  • Use with Conventional
  • Minimum FICO: 620
  • Minimum Borrower needs for Closing: $500
  • Boise City 2nd Mortgage



     

*Income Restrictions. See Below.
** Must live in City of Boise borders.
 

 

 

Income
Guidelines
(IHA updated 04/24/2018)
(Boise City update 01/01/2018)

Family Size: 1

IHA First Plus (ADA):
$70,300
IHA First Plus (Canyon):
$84,360
City of Boise/Home DPACC:
$33,600

 

Family Size: 2

IHA First Plus (ADA): 
$70,300
IHA First Plus (Canyon): 
$84,360
​City of Boise/Home DPACC: 
$33,400

 

Family Size: 3

IHA First Plus (ADA): 
$80,845
IHA First Plus (Canyon): 
$98,420
​City of Boise/Home DPACC: 
$43,200

 

Family Size: 4

IHA First Plus (ADA):
$80,845
IHA First Plus (Canyon): 
$98,420
​City of Boise/Home DPACC: 
$48,000

 

Family Size: 5

IHA First Plus (ADA): 
$80,845
IHA First Plus (Canyon): 
$98,420
​City of Boise/Home DPACC: 
$51,850

 

Family Size: 6

IHA First Plus (ADA): 
$80,845
IHA First Plus (Canyon): 
$98,420
​City of Boise/Home DPACC: 
$55,700

 

Family Size: 7

IHA First Plus (ADA): 
$80,845
IHA First Plus (Canyon): 
$98,420
​City of Boise/Home DPACC: 
$59,550

 

Family Size: 8

IHA First Plus (ADA): 
$80,845
IHA First Plus (Canyon): 
$98,420
​City of Boise/Home DPACC: 
$63,400

 

Guidelines & Income limits subject to change at any time, Call TODAY for complete details and restrictions.

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Our Company

1st Choice Mortgage Company, LLC | NMLS #380736
3023 E. Copper Point Dr., Suite 101, Meridian, ID 83642 | View Map

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Toll Free: (877) 877-0404
Phone: (208) 375-5626
Fax: (208) 375-5970