IdaMortgage, brought to you by Idaho Housing and Finance Association, is now offering borrowers with adjustable-rate loans the opportunity to obtain a fixed-rate mortgage. Credit-worthy applicants may be eligible for an Advantage loan with a low, fixed interest rate. Visit www.IdaMortgage.com and click on the "Contact Participating Lender or Mortgage Brokers" button to find a local participating lending partner who can help you find the IdaMortgage product that best suits your needs.

"Idaho Housing and Finance Association strives to make homeownership more attainable for Idahoans," said Gerald Hunter, Idaho Housing and Finance Association president and executive director. "The expanded qualification requirements on our existing loan program allow us to reach more credit-worthy borrowers who may be faced with financial concerns from an alternate mortgage product with an adjustable rate."

IdaMortgage's Advantage loan products reach more than just first-time homebuyers, and can be used for purchase or refinance. IdaMortgage's below-market rate Advantage loan targets those credit-worthy borrowers who meet income requirements. Applicants who use the Advantage loan products for the purchase of a home do not need to be first-time homebuyers. There are no limits on the price of the home borrowers can purchase.

IdaMortgage loan products start at a fixed interest rate of 5.60%, and help potential homeowners bridge the widening gap between income and the escalating cost of homes. Here are descriptions of the available loan products and rates:

30-year Loan Products

• Advantage Loan - This 30-year fixed-rate conventional loan product is perfect for credit-worthy borrowers with higher income levels who don't meet IHFA's First Loan program financing requirements. The current rate on this loan is 6.125%*. This loan may be used for purchase or refinance.
• First Loan - This 30-year fixed-rate loan product offers the lowest fixed rate for low-to-moderate income borrowers. The below-market interest rate never changes for the life of the loan. The current rate on this loan is 5.60%*.
• First-Plus Loan - This 30-year stepped-rate loan product offers a reduced rate for the first three years, then a slightly higher, but still low interest rate for the duration of the loan. The current rate on this loan is 5.12%*.

• Advantage Loan - This 40-year fixed-rate conventional loan product is for borrowers looking for a lower monthly payment, but who have higher incomes and don't meet IdaMortgage's First Loan program financing requirements. The current rate on this loan is 6.875%*. This loan may be used for purchase or refinance.

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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.