First Time Home Buyer
Programs in Idaho
Complete First Time Home Buyer Programs Available in Idaho.
There is no state agency created by the legislature in Idaho to
offer first time home buyer programs. However, there is the Idaho Housing and
Finance Association. Here is a summary of the current first time home buyer
programs that they offer:
Down Payment Assistance
IdaMortgage's Down Payment Assistance Program
brought to you by the Idaho Housing and Finance Association offers eligible
borrowers from $1,000 to $10,000 in grant money toward down payment and/or
eligible closing costs. Income and eligibility guidelines apply to this offer.
Any of our participating lenders in branch offices statewide can provide you
with more information about the program. You also may contact our IdaMortgage
department toll free at 1-800-219-2285 for more information.
The Down Payment Assistance Program can benefit any eligible borrower from a
financial standpoint, but is especially tailored for Idaho's limited-income,
working families and individuals. These borrowers don't typically have a lot of
disposable income, and IdaMortgage incentives provide an affordable option. The
single-biggest impediment to the prospective home buyer is money for the
up-front costs of buying a home, and the Down Payment Assistance Program is one
way to minimize that obstacle.
IdaMortgage offers two types of down payment assistance products. Neither grant
accumulates any interest, or requires a monthly payment:
Up to $3,000 Idaho Housing HOME Funds
Up to $10,000 American Dream Down Payment Initiative
For complete details on these first time home
buyer programs available to Idaho residents, visit the
Idaho Housing and
Finance Association website.
Se also the First Time Home Buyer
Grants page.
Best Lender For First Time Home Buyer Loans
Unfortunately, some lenders do not like
to work with first time home buyers (due to not having a track record), and prefer instead to only provide
mortgages to people who have previously owned a home.
If you do not need help with the down payment and are not
in need of any state program, but simply want to apply for a mortgage,
we recommend ING DIRECT Orange Mortgage
They have great rates, an easy online application, and welcome first
time home buyers. Additionally they have not been as severely hurt by the
subprime mortgage crisis and are still approving the majority of applications.
Other First Time Home Buyer Programs & Resources
