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IdaMortgage, brought to you by Idaho Housing and Finance Association, has always offered extremely low mortgage interest rates. Now, we’re offering even more… Down payment assistance.
Eligible borrowers may qualify for one of two Down payment Assistance programs available. Borrowers must meet certain eligibility requirements in order to qualify for funding down payment or closing costs assistance.
Please review the following Down Payment Assistance Programs available. If you have any questions please contact an
IdaMortgage representative or our participating lending partners who can provide you with additional information about the programs.
Tax Credit 2nd Loan
In conjunction with an IdaMortgage loan, a Tax Credit 2nd Loan will be offered to qualified first-time homebuyers in the amount not to exceed 5% of the sales price or $7,000. This tax credit is available to qualified home buyers who purchase a home by December 1, 2009. The Tax Credit 2nd Loan is expected to be paid off from the borrower’s tax refund obtained through the application of the federal tax credit. Borrower must be a first-time homebuyer, qualify for an IdaMortgage loan, and complete Finally Home! ® Homebuyer Education class. To learn more about this program click below:
Tax Credit 2nd Loan
Good Credit Rewards Down Payment and Closing Costs Assistance
This down payment assistance program offers a second mortgage for up to 3.5% of the first mortgage that can be used for down payment and closing costs. The second mortgages are fixed rates over 30-years making the monthly payment very low so as a borrower you can easily qualify for the loan amount you need. Also this program allows you to keep your savings, which might help you if you have unexpected expenses after you move into your new home. To learn more about this program click below:
Good Credit Rewards
HOME Down Payment Assistance Program
This is a HOME down payment and closing cost assistance program for first-time homebuyers in the form of deferred payment at 0% interest to a borrower at less than 80% of the area median family income. Effective immediately, a limited allocation of HOME dollars is available and is tied to a special loan program through our Homeownership Lending department with a rate of 5.98% being offered and is good until January 1, 2010. To learn more about this program, click below.
HOME Down Payment Assistance Program Click Here
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