BOISE - A low 5.45 percent interest rate on a 30-year fixed mortgage is now available through the Idaho Housing and Finance Association. The new rate is the second-lowest since the Association began making residential loans in 1978, and is available now through any of IHFA’s nearly 40 participating lenders, with 80 branches statewide.

During 2002, IHFA helped 2,752 families purchase their home by providing lower interest rates and generating a home ownership investment of $233 million for Idaho — a 22 percent increase over the previous year.

"Providing opportunities for Idaho's first-time home buyer families is one of IHFA's major priorities," said Bob Reed, vice president of Real Estate Lending for IHFA. "It is this investment in home ownership that we're proud to offer. This record-low rate allows home ownership opportunities which might not otherwise have been available."

Through the IHFA mortgage loan program, home buyers must meet borrower requirements and income and sales price limits that vary by county. Since 1978, IHFA has financed nearly 49,000 loans —worth more than $2.9 billion—for affordable homes for Idaho’s first-time and limited-income home buyers.

A current list of participating lenders and program qualifications can be found on IHFA’s Web site at http://www.ihfa.org/residential_lenders.asp.