In the just-released Census Bureau figures for 2003, Idaho's home ownership rate once again tops the West, and only seven states rank ahead of Idaho's all-time year-end high of 74.4 percent. The national average for home ownership is 68.3 percent.
Since it began issuing home loans in 1978, the association has invested nearly $3.1 billion for 50,000 home loans for Idaho's families. In the last decade, with IHFA's help, Idaho has consistently remained ahead of the national homeownership rate.
Idaho's homeownership rate has been higher than 70 percent in every year-end survey since 1992. Idaho also has recorded a better rate than the national average every year since the Bureau started keeping state-by-state records in 1984. (See report at www.census.gov/hhes/www/housing/hvs/annual03/ann03t13.html.)
"The housing market is a vital component of national and state economies," said IHFA President and Executive Director Gerald Hunter. "IHFA plays a key role in economic strength and in expanding home ownership opportunities throughout Idaho. Three billion dollars invested in mortgages, low interest rates and customer service are just a few of IHFA's key commitments."
IHFA provides lower interest rate residential loans than those found in the general market. The association also offers resources to ease the home-buying process for home owners, including assistance programs for first-time and low-income buyers, such as home buyer education classes (Finally Home!®), and assistance of up to $2,000 for down payment and closing costs.
Once the loan has been made, IHFA remains committed to the loan-servicing process. The association currently serves and counsels approximately 16,200 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.
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