Idaho Home Loans

Boise Home Loans

Eagle Home Loans

Meridian Home Loans

Company Info

Mortgage Resources

Featured Tools

Home Loan Articles

Loan Info

Other Services

One of the biggest obstacles for today's Idaho home buyer, especially Idaho first-time homebuyers, is coming up with a down payment. After the financial market collapsed a few years ago, banks and lenders became very strict with requirements and the days of zero down-payment loans seemed gone forever. But now that recovery is in sight, lenders are once again becoming open to creative financing and flexible arrangements that can enable buyers to obtain Idaho home loans with smaller down payments.

One such program is the HOME Down Payment Closing Cost (DPCC) Assistance Program, available through IHA-approved lenders. This program has a minimum borrower investment of just $500 with no cash out at closing. To qualify, borrowers must be first-time homebuyers with a household income of less than 80% of the area's median income.

Assistance is available at a minimum of $1,000, up to a maximum of 3.5% of the purchase price of the home – not to exceed $8,000. The property must have been previously vacant or owner-occupied for the purchase to qualify for the program. Before applying, borrowers must complete the Finally Home! Homebuyer Education program.

Are you an Idaho first-time homebuyer who needs down payment assistance? Contact an approved Idaho lender today to find out if you qualify!