Bootcamp For Buyers

First Time Homebuyer Programs in Idaho

Idaho offers a range of programs through the Idaho Housing and Finance Association (IHFA) to help first-time homebuyers achieve their goal of homeownership. These programs provide affordable loans and down payment assistance to make buying a home more accessible.

Idaho Housing Advantage Loan

The Advantage Loan offers low-interest, 30-year fixed-rate mortgages for eligible first-time buyers.

  • Available statewide through IHFA-approved lenders.
  • No monthly mortgage insurance required, reducing monthly payments.
  • Requires a minimum credit score of 620.

Down Payment Assistance Programs

IHFA provides several down payment assistance options to reduce upfront costs.

  • Second mortgage loans are available for up to 7% of the home's purchase price.
  • Assistance options include deferred payments and low-interest repayment plans.
  • Must be combined with an IHFA loan product.

Mortgage Credit Certificate (MCC) Program

The MCC Program reduces federal income tax liability for first-time homebuyers.

  • Provides a tax credit of up to 35% of annual mortgage interest paid, capped at $2,000 per year.
  • Can be used alongside IHFA loans for additional savings.
  • Eligibility is limited to first-time buyers or those purchasing in targeted areas.

Idaho’s first-time homebuyer programs are designed to provide the financial support and resources needed to make homeownership more affordable and attainable. Take advantage of these opportunities to start your homebuying journey today.