The intent of HOME is to provide decent affordable housing to lower-income and very-low income households provided that the home buyers meet the income eligibility that cannot exceed 80% of the Department of Housing & Urban Development and Idaho Housing Area Median Income limits for the area.
In addition, Idaho Housing and Finance Association through Homeownership Lending provides help for home buyers directly through approved local lending institutions with IHFA's Mortgage Revenue Bond (MRB) program.
HOME also extends and strengthens partnerships among all levels of the private sector and non-profit organizations in the production and operation of affordable housing in the State of Idaho.
IHFA provides home buyer assistance programs through partnering agencies and/or directly to the home buyer. Some of these programs are used to provide down payment and or closing costs, self-help (sweat equity), and sponsored new construction loans.
IHFA makes funds available throughout the program year for the following types of activities:
Types of Single Family Activities:
- Direct Homebuyer Assistance
- Sponsored Self-Help Programs
Program Description
An owner/builder program allowing a group of qualified applicants to commit to sweat equity requirements as well as home counseling and training, through the duration of the development of all homes.
Program Requirements (requires Acrobat Reader)
- Sponsored IHFA Section 8 Housing Occupancy Voucher (HOV) (Special Needs)
Program Description
The HOV program allows Section 8 Voucher Holders with disabilities to utilize voucher subsidy as a source of income to repay a home loan. Qualified heads of households or spouses with a disability, can apply for approval to participate in the HOV program, which compliments a mortgage loan with down payment assistance from the HOME Program of at least $1,000.
Program Requirements (requires Acrobat Reader)