(Boise) Idaho Housing and Finance Association today announced a low 5.66% fixed interest rate on 30-year mortgage loans. Borrowers also may qualify for up to $10,000 in down payment or closing cost assistance.

IHFA's 5.66% rate saves $29,000 over the 30-year life of the loan on a $150,000 home compared to the 6.5% Western Market Average rate. The savings climbs to $39,000 on a $200,000 home.

Potential home buyers can complete an initial online application at www.IdaMortgage.com to find out if they meet initial IHFA requirements and receive a referral to a local IHFA participating loan officer for a home loan. Application information also is available at (866) 432-4066.

IHFA partners with 50 participating lenders at nearly 150 banking branches statewide to offer its below-market interest rates.

IHFA has provided low interest rate home loans for Idaho residents for 28 years. In the last 10 years, IHFA has invested $2 billion for nearly 25,000 Idaho home loans. Over the last 12 months, IHFA helped 1,507 individuals and families purchase their homes by providing lower interest rates, generating a home-ownership investment of $177.2 million.

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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.