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What are IHFA Home Loans?

The Idaho Housing and Finance Association, also known as the IHFA, is a self-supporting financial institution that strives to provide funding for affordable housing opportunities in Idaho communities. The IHFA is committed to offering rental assistance, reducing and preventing homelessness, providing homebuyer education, preserving older housing stock, and most popularly: creating residential mortgage products.

With multiple home financing and down payment assistance programs available, Idaho Housing and Finance Association Mortgage Products are a great option for Idaho residents hoping to purchase a single-family home, condo, or townhouse. They offer many benefits that other mortgages don’t and have helped hundreds of Idaho families achieve homeownership.

IHFA Programs:

- Offer Conventional, FHA, VA, and Rural Housing Development Loan options

- Provide the lowest financing rates in Idaho

- May offer both down payment and closing cost assistance (dependent on the program)

- May provide homebuyer tax credits worth up to $2,000 per year

- May have low-to-no mortgage insurance options available (dependent on the program)

- May have purchase price, home type, or income restrictions (dependent on the program)

- Typically require homebuyer education classes

- Are available both to those looking to purchase a home and those looking to refinance

You may qualify for an IHFA Program if you:

- Are an Idaho resident looking to purchase a single-family home, condo, or townhouse

- Make less than $110,000 per year

- Have at least a 620 credit score

- Have a debt-to-income ratio below 50%

- Have satisfactory employment history

If you think a loan from the Idaho Housing and Finance Association may be right for you, you can submit an application here! In the meantime, if you have any questions about IHFA Loan Programs, you can chat with our digital assistant, Lydia , or reach out to one of our Idaho licensed Loan Officers for help.

If you’d like to further explore your options outside of those offered by the Idaho Housing and Finance Association, you can also look into Conventional Loans, FHA Loans, USDA Loans, VA Loans, or even Down Payment Assistance Options.

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IHFA Home Loans