IHFA Idaho Down Payment Assistance
Is IHFA Down Payment Assistance right for you?
If you want to buy a home in Idaho without completely draining your savings, an IHFA Down Payment Assistance program may be a good option for you. If you are eligible, there are a number of benefits.
Benefits of IHFA Down Payment Assistance
- Preserve Your Savings: Borrow up to 8% of the home’s sales price to use toward your down payment and closing costs, allowing you to keep cash in the bank for emergencies.
- Low Out-of-Pocket Minimum: Homebuying is possible with a contribution of as little as $500 of your own funds toward the transaction.
- Available to Repeat Buyers: You do not have to be a first-time homebuyer to take advantage of Idaho Housing’s primary down payment assistance.
IHFA Down Payment Assistance eligibility requirements
- A good credit score (typically 620 or higher for conventional loans)
- A maximum household income at or below $170,000
- Completion of the Finally Home! Homebuyer Education course
- A minimum personal contribution of $500 toward the transaction (such as earnest money, appraisal, or inspection fees)
Check out what your monthly payment could be by using our Conventional Mortgage Calculator...
Our mortgage calculators are for demonstration purposes only and may not reflect actual numbers for your specific mortgage. Contact us and we will walk you through the best possible mortgage scenario for your specific needs!
Principal & Interest (P&I)
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PMI
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Taxes & HOA
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Homeowners Insurance
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Purchase Price
Home Value
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Down Payment
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Current Mortgage Balance
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Cash Out
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Total Loan Amount
New Loan Amount
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Home Equity After Cash Out
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Estimated Taxes & Insurance
Property taxes are generally estimated to be 1.2% of the home's value, but may vary based on your location. Annual homeowners insurance is roughly 0.35% of the home's value but can change based on insurer. Your loan specialist can help you determine property tax and insurance rates in your area.
PMI
The PMI (Private Mortgage Insurance) is a mortgage lenders' protection in the event of a default. PMI is paid monthly as part of your mortgage payment to the lender. Once a borrower has paid the equivalent of the 20% down payment, PMI can be removed from the monthly mortgage payment.
Estimated Payment
$ /mo
Loan amount
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Down payment
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Cash Out
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Home Equity After Cashout
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Interest rate
Loan term
Taxes & insurance included?
Property tax
Homeowner's insurance
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Mortgage insurance
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HOA dues
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Payment Breakdown
Amortization
Principal vs. Interest
Amortization Schedule Breakdown
Our detailed amortization schedule breaks down your mortgage payments, showing how they are split between interest and principal over the life of your loan.
Note: The actual monthly payment may be higher than what is shown here, as this schedule does not account for variable costs such as property taxes and home insurance, which are often included in your total mortgage payment.
- Principal payments: $$240,000 (the amount borrowed)
- Interest payments: $$297,554 (the cost of borrowing)
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Standard home loans offering competitive rates and flexible terms for buyers with strong credit and steady income.
FHA
Government-backed loans with lower down payment requirements, perfect for first-time homebuyers or those building their credit.
VA
Exclusive, zero-down financing options dedicated to serving eligible veterans, active-duty military, and their families.
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High-balance mortgage solutions designed for luxury properties or homes that exceed standard conventional loan limits.
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Combine your home purchase and remodeling costs into one convenient loan to build your perfect living space.
USDA
Zero-down payment mortgages for eligible rural and suburban properties, making homeownership accessible outside the city limits.
No Income / No Employment DSCR Investor Loans
Grow your real estate portfolio by qualifying based on the property’s projected cash flow rather than personal income.
12/24 Month Bank Statement
Flexible qualifying options for self-employed borrowers using personal or business bank deposits instead of traditional tax returns.
No Income / No Employment Loan Primary Residence Loan
Alternative financing for your main home utilizing asset depletion or other non-traditional qualification methods.
ITIN Mortgage Loan Program
Accessible home financing for individuals purchasing a property using an Individual Taxpayer Identification Number instead of an SSN.
P&L-Only Mortgage Loan Program
Streamlined financing designed for business owners, utilizing profit and loss statements rather than extensive tax documentation.
1099 Mortgage Loan Program
Tailored loan solutions for freelancers and independent contractors, qualifying you based entirely on your 1099 earning statements.
NAF Cash
Turn your offer into a highly competitive all-cash bid to win your dream home in today’s fast-paced market.
One Time Close Construction
Finance your land purchase, construction costs, and permanent mortgage all with a single application and closing process.
Down Payment Assistance
Overcome upfront cost barriers with specialized programs designed to help cover your down payment and closing expenses.
Medical Professionals Mortgage Program
Favorable terms and lower down payment requirements tailored specifically for doctors, nurses, and eligible medical staff.
WSHFC Washington Down Payment Assistance
State-specific financial support providing Washington residents with accessible pathways to achieving homeownership.
IHFA Idaho Down Payment Assistance
Tailored financial assistance programs designed to help Idaho buyers bridge the gap to owning their own home.
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