IHFA Heroes

IHFA Heroes Loan Program

In an effort to show appreciation for Idaho’s essential employees, the Idaho Housing and Finance Association (IHFA) recently launched a new program called the Idaho Heroes Loan Program. The Idaho Heroes Loan Program offers home financing as well as down payment and closing cost assistance to Idaho’s healthcare professionals, firefighters, law enforcement officers, paramedics, teachers, retail workers, and military personnel.

With special reduced interest rates, no first-time homebuyer requirement, and varying income restrictions for each area, the Idaho Housing Heroes Program has the potential to be a great option for an array of essential workers from various cities, industries, and financial backgrounds. Although the program is fairly new, it’s already helped numerous employees achieve homeownership after all of their hard work during the COVID-19 pandemic.

The Idaho Heroes Loan Program:

  • Provides low-interest home financing through Conventional, FHA, VA, and USDA First Mortgage Loan options
  • Offers repayable down payment and closing cost assistance (for up to 7% of sales price) through Second Mortgage Loans
  • May offer nonrepayable/gifted closing cost assistance (up to $1,000) through the Foundation Partnership Grant (while funds last)
  • Has home type, purchase price, and income restrictions (specifics vary by county)
  • May have low-to-no mortgage insurance options available (dependent on loan type)
  • Requires homebuyer education classes

You may qualify for the Idaho Heroes Loan Program if you:

  • Are an Idaho resident
  • Are an essential worker (a healthcare professional, firefighter, law enforcement officer, paramedic, teacher, or retail worker) or a member of the military
  • Make less than $110,000 per year
  • Have a 620+ credit score

If you think an Idaho Heroes Loan may be right for you, you can submit an application here! (link the words ‘submit an application here’ to our loan application page) In the meantime, if you have any questions about the Idaho Housing Heroes Program qualifications, Idaho Housing Heroes Program interest rates, or any questions about the program in general, you can chat with our digital assistant, Lydia, or reach out to one of our IHFA Mortgage Lenders for help.

Not sure the Idaho Heroes Loan Program is right for you? You can learn more about other programs offered by the Idaho Housing and Finance Association by clicking here. Alternatively, if you’d like to further explore your options outside of those offered by the IHFA, you can also look into Conventional Loans, FHA Loans, USDA Loans, VA Loans, or even Down Payment Assistance Options.

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IHFA Heroes
Loan Program