New Home Buyer Education Program Launched In Idaho Falls Friday (Jan. 21)

IDAHO FALLS -  A new statewide home buyer education program—Finally Home!—is being introduced on Friday (Jan. 21) at an 11:30 a.m. monthly membership luncheon for the Greater Idaho Falls Association of REALTORS^®, the Idaho Housing and Finance Association announced today. The event will take place at Cavanaugh’s by the Falls, located at 475 River Parkway. Speakers at the luncheon will include Mayor Linda Milam, Dave Olson, president of the board for the association and Darlene Joyce, home buyer education coordinator for the Idaho Partners for Home Buyer Education, Inc. and IHFA.

The Idaho Partners for Home Buyer Education, Inc. (IPHBE) was created by a group of organizations interested in promoting home buyer education throughout Idaho. The organization was formed in response to one of former Governor Batt’s Affordable Housing Task Force recommendations and led by IHFA. Along with other housing-related organizations, IHFA developed the statewide home buyer education program with the aid of regional training partners.

"When home buyers are educated about the process of purchasing a house, they become more successful home owners," said Gerald Hunter, IHFA president and executive director. "This, in turn, leads to lower default rates and healthier neighborhoods. It’s a winning situation for everyone involved—home buyers, lenders and communities."

Qualified industry professionals volunteer their time as instructors and teach home buyer education to potential or existing home owners in a traditional classroom setting. Participants are required to spend six to eight hours in the class to successfully complete the course. Lenders throughout Idaho are offering various incentives to potential home buyers for their participation, including qualifying for down payment assistance, reduced mortgage insurance premiums and access to special loan programs. The Greater Idaho Falls Association of REALTORS^® offers free monthly home buyer education classes in the Idaho Falls area. Anyone interested in learning more about home ownership classes should call the association at 208-523-1477.

The IPHBE will manage implementation and administration of the program’s four objectives:

• to develop programs of quality standardized home buying and home ownership education,

• to facilitate wide delivery of its home buying and home owner educational programs throughout Idaho;
• to target its educational programs to reach diversified markets, including various socioeconomic groups—specifically low and moderate-income households and first-time home buyers; and
• to enhance the lives of citizens throughout Idaho, as well as the participating communities, by providing better home buying and home ownership education.

Five other regional training partners offer free home buyer education throughout Idaho: St. Vincent de Paul in Coeur d’Alene, Community Action Agency, Inc. in Lewiston, Boise Neighborhood Housing Services, Inc., Pocatello Neighborhood Housing Services and the College of Southern Idaho in Twin Falls. Funding for the education initiative comes from IHFA, the U.S. Department of Housing and Urban Development, Bank of America, Fannie Mae, First Security Bank, N.A. and U.S. Bank.

Membership in IPHBE, Inc. is open to organizations statewide. For more information on Finally Home! contact Darlene Joyce at 208-331-4847.