Do I Qualify for a Loan and What Price Home Can I Buy?
 

Before you look at the qualification requirements, here's a quick look at three easy steps to securing an IdaMortgage home loan:

  1. Check your eligibility now by answering a few simple questions. If you meet eligibility requirements, you will automatically be referred to a participating lender in your area; or you can contact a lender or mortgage broker to help you through every step of the home loan application process.
  2. Through the application process your lender or mortgage broker will determine if you meet our loan program requirements and qualify you for an IdaMortgage home loan.
  3. The lender or mortgage broker makes a reservation with IdaMortgage, brought to you by Idaho Housing and Finance Association, to receive funding for the mortgage, the loan closes, and you move into your home and begin making monthly mortgage payments to Idaho Housing and Finance Association.

Here's a look at some of the requirements a prospective homebuyer must meet:

  1. The borrower must be a resident of Idaho, and must occupy the financed property as his/her primary residence within 14 days after closing;
  2. The borrower must have an acceptable credit and employment history;
  3. For the standard loan products, there are 17 counties in Idaho in which the borrower cannot have been a home owner at any time in the last three years, and 27 counties in which that rule does not apply. The chart also shows borrower income limits and sales price guidelines by county:
  
County Previous Homeownership
In Last Three Years?
(First Loan Products Only)		 Borrower Income Limits* Home Sales
Price Limits
(First Loan Products Only)
First Loan Advantage Loans
1- or 2-Person Household 3+ Person Household 140% Median Income
Ada NOT Allowed $62,500 $71,875 $87,500 $265,400
Adams Allowed $67,560 $78,820 $78,820 $275,000
Bannock NOT Allowed $56,300 $64,745 $78,820 $236,800
Bear Lake Allowed $67,560 $78,820 $78,820 $289,400
Benewah Allowed $67,560 $78,820 $78,820 $289,400
Bingham Allowed $67,560 $78,820 $78,820 $289,400
Blaine NOT Allowed $77,800 $89,470 $108,920 $425,000
Boise Allowed $70,200 $81,900 $81,900 $324,000
Bonner Allowed $67,560 $78,820 $78,820 $289,000
Bonneville NOT Allowed $59,500 $68,425 $83,300 $236,800
Boundary Allowed $67,560 $78,820 $78,820 $289,400
Butte NOT Allowed $56,300 $64,745 $78,820 $236,800
Camas NOT Allowed $56,300 $64,745 $78,820 $236,800
Canyon Allowed $73,080 $85,260 $85,260 $324,000
Caribou NOT Allowed $56,300 $64,745 $77,560 $236,800
Cassia Allowed $67,560 $78,820 $78,820 $289,400
Clark Allowed $67,560 $78,820 $78,820 $289,400
Clearwater Allowed $67,560 $78,820 $78,820 $289,400
Custer Allowed $67,560 $78,820 $78,820 $289,400
Elmore NOT Allowed $56,300 $64,745 $78,820 $236,800
Franklin NOT Allowed $56,300 $64,745 $78,820 $236,800
Fremont NOT Allowed $56,300 $64,745 $78,820 $236,800
Gem Allowed $67,560 $78,820 $78,820 $324,000
Gooding Allowed $67,560 $78,820 $78,820 $289,400
Idaho Allowed $67,560 $78,820 $78,820 $289,400
Jefferson Allowed $71,400 $83,300 $83,300 $289,400
Jerome Allowed $67,560 $78,820 $78,820 $289,400
Kootenai Allowed $67,560 $78,820 $78,820 $305,700
Latah NOT Allowed $58,800 $67,620 $82,320 $236,800
Lemhi Allowed $67,560 $78,820 $78,820 $289,400
Lewis Allowed $67,560 $78,820 $78,820 $289,400
Lincoln Allowed $67,560 $78,820 $78,820 $289,400
Madison NOT Allowed $56,300 $64,745 $78,820 $236,800
Minidoka NOT Allowed $56,300 $64,745 $78,820 $236,800
Nez Perce NOT Allowed $56,300 $64,745 $78,820 $236,800
Oneida Allowed $67,560 $78,820 $78,820 $289,400
Owyhee Allowed $75,000 $87,500 $87,500 $324,000
Payette Allowed $67,560 $78,820 $78,820 $289,400
Power NOT Allowed $56,300 $64,745 $78,820 $236,800
Shoshone Allowed $67,560 $78,820 $78,820 $289,400
Teton Allowed $71,280 $83,160 $83,160 $425,000
Twin Falls NOT Allowed $56,300 $64,745 $78,820 $236,800
Valley NOT Allowed $56,300 $64,745 $78,820 $400,000
Washington Allowed $67,560 $78,820 $78,820 $289,400
* Different than down payment assistance limits
  
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