BOISE - For the first time in the Association's 31-year history, Idaho Housing and Finance Association is offering an interest rate below 5 percent. The record-low 4.75% 30-year fixed mortgage interest rate is now available through any of IHFA's nearly 40 participating lenders, with 80 branches statewide. This record-low interest rate, coupled with IHFA's new Down Payment Assistance Program grant of up to $2,000, is an exceptionally attractive offer for the potential home buyer.

"Bringing the new Down Payment Assistance Program together with our low rates, especially a record-low rate like this, creates some of the most affordable home buying opportunities we've ever seen," said IHFA's Vice President of Real Estate Lending Bob Reed. "In our history IHFA has invested nearly $3 billion in the people of this state, and bringing this affordable alternative to the home-buying public is still more proof of our commitment."

To participate in IHFA's 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 50,000 loans-worth almost $3 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 www.ihfa.org/residential_lenders.asp.