BOISE - The Idaho Housing and Finance Association is offering their second-lowest interest rate in history, a 30-year fixed rate of 4.99 percent. Borrowers also can qualify for up to $3,000 in down payment or closing cost assistance.

The 4.99 percent rate is available through any of IHFA's 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 combine the incredible low interest rate of 4.99 percent with $3,000 for down payment assistance, you create one of the most affordable housing opportunities available," said Bob Reed, vice president of Real Estate Lending for IHFA.

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.