BOISE - A below-market 5.57 percent interest rate on a 30-year fixed mortgage is now available through the Idaho Housing and Finance Association.. Qualifying individuals seeking mortgages can obtain this rate now through any of IHFA's nearly 40 participating lenders, with 80 branches statewide.

The association began making residential loans in 1978 and has invested more than $3 billion in 49,500 affordable residential home loans since that time.

During 2002, IHFA helped 2,752 individuals and families purchase their home by providing lower interest rates, 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 below-market rate allows home ownership opportunities which might not otherwise have been available."

To obtain a mortgage loan through IHFA, home buyers must meet borrower requirements and income and sales price limits that vary by county. A current list of participating lenders and program qualifications can be found on IHFA's Web site at www.ihfa.org/residential_lenders.asp.