First Time Home Buyer Loans

Need a low interest rate loan to purchase that first home or downpayment/closing cost assistance? The Idaho Housing and Finance Association provides both to first time home buyers.

The Idaho Housing and Finance Association (IHFA) is a financial organization – not associated with the State of Idaho – that provides affordable housing options in the areas of Idaho where it is most needed.

IHFA is a self-supported corporation which generates revenues by earning fees for work performed, not through any state appropriations. It raises millions of dollars through the capital markets and through partnerships with lending institutions throughout the state. These dollars are then used to provide affordable housing. IHFA is an agent of the U.S. Department of Housing and Urban Development.

One of the opportunities that they provide is to first time home buyers. Through a local approved lender, a buyer can qualify for an IHFA loan with a lower interest rate. With all the new product and program changes there is still help for borrowers who need down payment and closing cost assistance.

To find out the best assistance program for your situation, it is always best to talk to your lender and get pre-approved prior to shopping for your new home!

For more information about this program, call me today!