BOISE - The Idaho Housing and Finance Association continues to invest heavily in Idaho's families. In the last 10 years, IHFA has issued nearly $2 billion in mortgages to Idahoans-providing affordable housing to more than 26,000 families. As the economy showed signs of slowing last year, IHFA maintained that commitment, issuing $233 million in home loans, one of the Association's largest single-year investments.

In the last decade with IHFA's help, the state's home ownership rate has remained ahead of the national rate, even as a record number of Americans have become home owners. While the national rate has reached a record 67.9 percent, as reported by the Bureau of the Census in January (see report at www.census.gov/hhes/www/housing/hvs/annual02/ann02t13.html), Idaho has recorded the top ranking of all the Western states, at 73 percent. Idaho has recorded a better home ownership rate than the national average in every year since the Census Bureau started keeping state-by-state records in 1984.

"Although national and state economies have struggled in the last year, the housing market has remained strong," said IHFA President and Executive Director Gerald Hunter. "IHFA has played a key role, offering some of our lowest mortgage rates ever. We are committed to expanding home ownership opportunities, and with $2 billion invested in mortgages over the past decade, low-interest rates and solid customer service, IHFA displays that commitment daily."

A key factor in IHFA's success is the ability to provide lower affordable interest rate residential loans than those found in the general market. Since 2002, IHFA has recorded its lowest rates ever. IHFA offers resources to ease the home-buying process for prospective home owners, including assistance programs for first-time and low-income buyers, such as home buyer education classes (Finally Home!®), and financial assistance of up to $2,000 for down payment and closing costs.

Once the loan has been made, commitment to the loan-servicing process helps IHFA retain customers. The Association has a Mortgage Servicing Department of dedicated professionals, currently servicing and counseling approximately 18,000 home owners.

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

Since 1978, IHFA has financed nearly 50,000 loans-worth nearly $3 billion-for affordable homes for Idaho's first-time and limited-income home buyers.