Idaho Housing Loans

Idaho’s own loan programs, with help on the down payment

Idaho Housing and Finance Association, usually just called Idaho Housing, offers home loans and down payment assistance for Idaho buyers. It is not a lender itself. You apply through an Idaho Housing approved lender, and several lenders who serve Boundary County are approved.

Who is eligible

Idaho Housing loans are open to first-time and repeat buyers who will live in the home. Household income needs to be $170,000 or less. A credit score of 620 or higher helps, but credit does not need to be perfect. Buyers complete the Finally Home! homebuyer education course, which can be done online.

What Idaho Housing offers

Idaho Housing works with conventional, FHA, VA and USDA loans, so you choose the loan type that fits and add Idaho Housing’s benefits on top. Rates are often competitive, and the loan stays serviced in Idaho rather than being sold to an out-of-state company.

Down payment assistance

The main benefit is the down payment assistance. Idaho Housing can loan you up to 8 percent of the purchase price for the down payment and closing costs as a second mortgage. You bring as little as $500 of your own money. The second mortgage is repaid in small monthly payments over 15 years alongside your main loan. Teachers, first responders, nurses and other public employees may also qualify for the Idaho Heroes program, which your lender can explain.

What to know for North Idaho properties

Idaho Housing loans follow the rules of whichever first loan you choose, so a home that works for FHA or USDA will generally work here too. That includes most single-family homes in Boundary and Bonner County, including homes on acreage.

Next steps

We are not lenders, but we work with Idaho Housing approved lenders regularly and can point you to one. Call us at (208) 267-2100 or send us a note on our contact page.