| About the IdaMortgage Loan Program
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Start smart. Start here.
Low rates!
Tax Credits
Down payment assistance
Achieve Your Dream of Homeownership
Welcome! IdaMortgage.com is a homeownership lending and resource center brought to you by Idaho Housing and Finance Association, and has been helping homebuyers for over 40 years. This site provides you with information about Homebuyer Education, loan products with great interest rates, down payment assistance, and homebuyer tax credits. Start with a long-term partner and make your home-buying experience a good one. To learn more about the home buying process you can: View our Homebuyer's guide, Homebuyer's Checklist, or Start Smart Flier and view our loans, products, and programs below.
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| Down Payment and Closing Cost Assistance Programs |
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Key Features |
HOME Down Payment Closing Cost (DPCC) Assistance Program
NEW! |
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Available for first-time homebuyers with a household income less than 80% of area median income.
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| - | Minimum of $1,000 with a maximum of 3.5% of the purchase price not to exceed $8,000, based on borrower's need, and the adjusted gross household area median income (AMI). |
| - | Borrower minimum investment of $500, with no cash out at closing. |
| - | Property must have been previously vacant or owner-occupied. |
| - | Finally Home!® Homebuyer Education program completion prior to applying for the assistance |
| Click here to learn more |
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| This loan offers a second mortgage for up to 3.5% of the first mortgage that can be used for down payment and closing costs. This is offered to: |
| - | Homebuyers with less than 140% of area median income |
| - | Graduates of Finally Home!® Homebuyer Education |
| - | Homebuyers with a credit score of at least 680 |
| Click here to learn more |
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Neighborhood Stabilization Homeownership Assistance Funds Program |
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| IdaMortgage Loan Program |
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Key Features |
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Preferred Risk Sharing Loan – No MI
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HFA Preferred Loan – Low MI
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| - | No first-time homebuyer requirement |
| - | Check the income limits chart for qualifications |
| - | No sales price limits |
| - | May be used for purchase or refinance |
| - | May qualify for up to $2000 tax credit every year, (New) Homebuyer Tax Credit Program |
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Conventional Cash-Out Refinance
FHA Cash-Out Refinance
FHA Streamline Refinance Loan
VA Interest Rate Reduction Refinance Loan (IRRRL)
USDA-RD Streamline Refinance Loan |
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| - | Current loan does not have to be an IHFA loan |
| - | Borrowers must be eligible for the Advantage Loan Product |
| - | No sales price limits |
| - | Check the income limits chart for qualifications |
| - | Closing costs and prepaid items may be included |
| - | Conventional cash-out refinance loan limited to 80% loan-to-value |
| - | FHA cash-out refinance loan limited to 85% loan-to-value |
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| Loan Options |
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Key Features |
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| This is a home loan where a homebuyer may qualify for up to 95%; down payment assistance is available. |
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| Unlike some inflexible mortgage programs, the FHA mortgage is more attainable for people with minimal credit. |
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| This home loan enables eligible military veterans to buy a home with no down payment. |
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FHA 203(k) Streamline Rehabilitation Loan |
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| This loan is intended to facilitate uncomplicated rehabilitation and/or improvements to a home such as new paint, carpet, windows, or roof. |
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| *Certain restrictions apply. Programs are subject to change at any time. |
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Easy Steps to Secure an IdaMortgage Home Loan
Start smart, start here by following these three easy steps:
- Check your eligibility at www.IdaMortgage.com now by answering a few short questions, or by calling an IdaMortgage representative at 1-866-432-4066.
- By checking your eligibility at www.IdaMortgage.com, you will also receive a referral to a participating lender who will assist you through the loan process.
- Once you have found the perfect home and received your IdaMortgage loan at a low 30-year, fixed-rate, you will move into your home.
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