Down payment assistance programs are available to Idaho homebuyers who meet certain requirements.

You may qualify for one of two available Down Payment Assistance programs. You must meet certain eligibility requirements for these programs to receive assistance with down payment or closing costs assistance.

Please review the following information on our Down Payment Assistance programs. If you have any questions please fill out our prequalification form, and we'll provide you with additional information you may need.

Good Credit Rewards Down Payment and Closing Costs Assistance

The Down Payment Assistance Program offers a second mortgage for up to 3.5% of the first mortgage. This second mortgage can be used for down payment and closing costs. The second mortgage is a fixed rate 30-year mortgage, making the monthly payment very low so borrowers can easily qualify for the loan.

Keep your savings!

In this economy, it is important to save your money for a rainy day. Our program allows you to hold on to your savings, which may help you in the event you have unexpected expenses after you move into your new home.

Learn more about the Good Credit Rewards program

HOME Down Payment Assistance Program

Home Down Payment and Closing Costs Assistance are for first-time home-buyers in the form of deferred payments at 0% interest. These loans are forgivable over time to a person at less than 80% of the area median family income. This program is a great way for qualified buyers to get assistance for their closing costs, without repayment, when living in the property for more than 10 years. Assistance is based on need, and can range from $1,000 to $20,000.

Requirements of this Down Payment Assistance Program

• Assistance is based on need, and can range from $1,000 to $20,000.
• Assistance Level is based on need and the adjusted gross household Area Median Income (AMI) as shown on the following Assistance Level Chart:
  • Deferred Payment Loan (Forgivable) with five (5) year period of affordability for less than $15,000. Deferred Payment Loan (Forgivable) with ten (10) year period of affordability, for greater than $15,000. See 2007 HOME Administrative Plan for details.
  • First time homebuyer with exceptions. Exceptions displaced homemakers or single parents with custody of children.
  • There may be other education requirements you will need to meet to qualify - ask us for details.
  • For further details on requirements, refer to the 2009 HOME Administrative Plan

60% and Below AMI	61 to 70% of AMI	71 to 75% of AMI	76 to 80% of AMI
Minimum $1,000	Minimum $1,000	Minimum $1,000	Minimum $1,000
Maximum $20,000	Maximum $15,000	Maximum $7,500	Maximum $5,000

NOTICE: This program may or may not be currently active. Contact us to be put in touch with an expert lender who can help determine your eligibility for these and other assistance programs available to Idaho homebuyers.