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    Down Payment Assistance Available

    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.


    NOTICE: Due to the overwhelming volume of reservation requests and applications for Idaho Housing and Finance Association’s HOME Down Payment & Closing Cost Assistance Program, we have expended all currently available funding for this activity. Effective January 1, 2009, IHFA has temporarily suspended Down Payment and Closing Cost Assistance reservations or applications. Please note that this does not apply to IHFA’s Good Credit Rewards program.


    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:

    HOME Down Payment Assistance Program

    Home down payment and closing cost assistance are for first-time homebuyers in the form of deferred payment at 0% interest that are forgivable over time to a person at less than 80% of the area median family income. This program is a nice way for qualified buyers to have assistance for their closing costs without repayment when living in the property for more than 10 years. To learn more about these programs click below.

      HOME Down Payment Assistance Program Click Here
      • Assistance to the borrowers, based on need, can range from $1,000 to $20,000