BOISE - The Idaho Housing and Finance Association has a low interest rate of 4.57 percent through the Interest Qualifier Program, with one point paid. The 30-year fixed rate is 5.20 percent. Borrowers also can qualify for up to $3,000 in down payment or closing cost assistance.

The 4.57 percent rate is available through any of IHFA's nearly 40 participating lenders with more than 100 banking branches statewide (www.ihfa.org/residential_lenders.asp). Call toll-free 1-800-219-2285 for referral to a local lender offering IHFA loans.

"When you add $3,000 from the new Down Payment Assistance Program together with our low rates, it creates some of the most affordable home-buying opportunities we've ever seen,Ó said Bob Reed, vice president of Real Estate Lending for IHFA. "Owning a home brings so many advantages in economic and social stability. In our history, IHFA has invested nearly than $3.2 billion in the people of this state, issuing more than 50,000 home loans, and bringing this affordable alternative to the home-buying public is still more proof of our commitment."

To obtain a mortgage loan through IHFA, home buyers must meet borrower requirements and income limits that vary by county. The borrower also must find a home within IHFA's $150,000 sales price limit ($189,000 in Blaine County). These borrower requirements can be found at www.ihfa.org/mortgage_borrowreq.asp.

During 2003, IHFA helped 1,566 individuals and families purchase their homes by providing lower interest rates, generating a home-ownership investment of $138.2 million for Idaho.

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The Idaho Housing and Finance Association, a financial services and housing organization, provides funding for affordable housing in Idaho communities where they are most needed and when it is economically feasible. IHFA uses no state funds or state employees to support its operations. For more information, visit our Web site at www.ihfa.org.