This is a zero percent interest, due on sale deferred loan program available for borrowers with less than 80% of Area Median Income.

Here is a list of the requirements that apply to this Down Payment Assistance Program.

• Assistance to the borrowers, based on need, can range from $1,000 to $20,000.
• Assistance level is based on need and the adjusted gross household area median income (AMI). The chart below shows the assistance level.

Area Median Income (AMI) Assistance Level Chart 

60% and Below AMI	61% to 65% of AMI	66% to 70% of AMI	71% to 75% of AMI	76% to 80% of AMI
Minimum of $1,000	Minimum of $1,000	Minimum of $1,000	Minimum of $1,000	Minimum of $1,000
Maximum of $20,000	Maximum of $15,000	Maximum of $10,000	Maximum of $7,500	Maximum of $5,000

• Deferred Payment Loan
• Interest: Zero Percent (0%)
• First time homebuyer with exceptions. Exceptions displaced homemakers or single parents with custody of children.
• Homebuyer Education Program Finally Home!® required.
• For further details on requirements, refer to the 2009 HOME Administrative Plan
• For more information about this program please contact Grant Programs at 1-877-447-2687

NOTICE: Effective October 8, 2009, Idaho Housing and Finance Association has re-opened the HOME Down Payment and Closing Cost Assistance program for a limited time.  See below for details.

• Qualified borrowers will receive a 5.98% interest rate on the first mortgage
• There is a no interest, due on sale HOME loan for up to $20,000 based on the borrower’s income level and need
• Through the HOME fund application process, it will be determined if the borrower meets the program guidelines and is within 80% of area median income and that the borrower is a first-time homebuyer
• A borrower's loan must be closed and delivered to IHFA by March 31, 2010