First Time Home Buyer

 Programs in Idaho

Complete First Time Home Buyer Programs Available in Idaho.

There is no state agency created by the legislature in Idaho to offer first time home buyer programs. However, there is the Idaho Housing and Finance Association. Here is a summary of the current first time home buyer programs that they offer:

Down Payment Assistance

IdaMortgage's Down Payment Assistance Program brought to you by the Idaho Housing and Finance Association offers eligible borrowers from $1,000 to $10,000 in grant money toward down payment and/or eligible closing costs. Income and eligibility guidelines apply to this offer. Any of our participating lenders in branch offices statewide can provide you with more information about the program. You also may contact our IdaMortgage department toll free at 1-800-219-2285 for more information.

The Down Payment Assistance Program can benefit any eligible borrower from a financial standpoint, but is especially tailored for Idaho's limited-income, working families and individuals. These borrowers don't typically have a lot of disposable income, and IdaMortgage incentives provide an affordable option. The single-biggest impediment to the prospective home buyer is money for the up-front costs of buying a home, and the Down Payment Assistance Program is one way to minimize that obstacle.

IdaMortgage offers two types of down payment assistance products. Neither grant accumulates any interest, or requires a monthly payment:


Up to $3,000 Idaho Housing HOME Funds
Up to $10,000 American Dream Down Payment Initiative

For complete details on these first time home buyer programs available to Idaho residents, visit the Idaho Housing and Finance Association website.

Se also the First Time Home Buyer Grants page.

Best Lender For First Time Home Buyer Loans

Unfortunately, some lenders do not like to work with first time home buyers (due to not having a track record), and prefer instead to only provide mortgages to people who have previously owned a home. If you do not need help with the down payment and are not in need of any state program, but simply want to apply for a mortgage, we recommend  ING DIRECT Orange Mortgage They have great rates, an easy online application, and welcome first time home buyers. Additionally they have not been as severely hurt by the subprime mortgage crisis and are still approving the majority of applications.

Other First Time Home Buyer Programs & Resources