BOISE - The Idaho Housing and Finance Association's current 4.99 percent rate on a 30-year fixed mortgage means big savings for borrowers - $18,000 to $22,000 on a typical home over the course of the loan. IHFA borrowers also can qualify for up to $3,000 in down payment or closing cost assistance.

Comparing IHFA's 4.99 percent rate to the 5.81 percent Western Market Average, the savings on a $100,000 home is $18,424 over the 30-year life of the loan, and for a $120,000 home it is $22,107.

The 4.99 percent rate is available through any of IHFA's 40 participating lenders with more than 110 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,Ó 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 2004, IHFA helped 1,230 individuals and families purchase their homes by providing lower interest rates, generating a home-ownership investment of $113.4 million for Idaho.

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The Idaho Housing and Finance Association, a financial services and housing business organization, provides funding for affordable housing in communities where it is most needed and when economically feasible.