A below-market 5.65 percent interest rate on a 30-year fixed mortgage is now available through the Idaho Housing and Finance Association. This rate is available through any of IHFA's nearly 40 participating lenders with more than 85 banking branches statewide (see list at residential_lenders.asp). Call toll-free 1-800-219-2285 for referral to a local lender offering IHFA loans.
"IHFA is proud to offer residential mortgage rates that provide opportunities for Idaho's home buyer families to make an investment in home ownership," said Bob Reed, vice president of Real Estate Lending for IHFA. "It's a great investment - in themselves and in the state."
To obtain a mortgage loan through IHFA, home buyers must meet borrower requirements and income limits that vary by county. The borrower must also find a home within IHFA's $150,000 sales price limit. These borrower requirements can be found at mortgage_borrowreq.asp.
The association began making residential loans in 1978 and has invested $3.1 billion in 50,200 affordable residential home loans since that time.
During 2003, IHFA helped 1,566 individuals and families purchase their home by providing lower interest rates, generating a home-ownership investment of $138.2 million for Idaho.
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