Are You a First Time Home Buyer in Idaho? Get Help!

(Last Updated On: January 5, 2019)

If you’re a first time home buyer in Idaho, you could get help purchasing your home! We found resources that might make it easier for you to find a home, find financing and get assistance.

Get more help buying a house with low income here!

Get down payment assistance as a first time home buyer in Idaho.

The Idaho Housing and Finance Association might be able to help with down payment assistance. If you’re a first time home buyer in Idaho, you could get help purchasing a home through the IHFA. The program not only provides down payment assistance to people who qualify but they might also be able to help with things like buyer counseling and affordable home searches.

If you’re in a rural area of Idaho, you might be able to get a direct loan through the USDA. This loan can help you purchase a home by allowing you to finance the home 100%. The loan allows you to get into a home without having to put a down payment on it since the whole amount is financed!

Idaho is one of the states that offers homeownership vouchers. If you’re very low income and you qualify for these vouchers, you might be able to find a way to finance your home easier. The vouchers could help you get into a home and could help you pay for the initial costs that go with purchasing a home.

More help is available in Idaho.

The Idaho Development and Housing organization might be able to help if you’re a first time home buyer in Idaho. You could get a SHOP loan which allows you to lower the amount you owe on the home by as much as 15%. This program can help you save thousands of dollars on your new home! You will have to put sweat equity into the home which means you’ll have to do some of the work building the home.

In addition to other programs offered by the USDA, you might be able to get a guaranteed loan. The USDA backs the loan up and can help you save money on your home purchase. They offer fixed interest rates and better mortgage terms. You will have to live in a rural area and meet all of the qualifications the USDA has in place. This program might not always be available.

The Habitat for Humanity could help you with a new home. If you are willing to put sweat equity into the home and if you meet their requirements for income, you could get help. Habitat has a waiting list and has strict requirements including being very low income, but this program can help if you’re without safe housing.

The North Idaho Housing Coalition might help if you’re a first time home buyer in Idaho. The coalition finds homes that have been foreclosed on, uses funding to update the homes and then sells them way below market value. While you might not be able to find financing through the coalition, it’s a great way to find a home that’s affordable!

Military? Get more help with your home purchase.

The VA home buyer program might be able to help you purchase a home if you’re a veteran or you qualify for VA benefits. The program does not offer direct mortgages, but it might be able to back up or guarantee a mortgage. People who use the VA-backed loans find they can qualify for the loans with a lower credit score, less money down and better mortgage terms. You will still have to meet the requirements from your lender.  

Your Idaho county could provide help.

If you’re a first time home buyer in Idaho, you might be able to get help with resources from your county! Different counties offer different things including down payment assistance and home search options!

Ada County

Are you in Boise and a first time home buyer in Idaho? There are programs available through the city that might be able to help you! The city offers affordable housing options, credit counseling to help you qualify for home ownership and down payment assistance. They offer help for both low income and moderate income buyers. You will need to meet the city’s requirements for income, credit and residency to qualify for help through their programs!

 

Neighborworks might be able to help you if you’re a buyer in Boise. You could get help with homeownership goals and learning more about it. The organization can also point you in the direction of resources you can use to make homeownership a possibility.

Bannock County

Residents of Pocatello might be able to get help with their first home purchase. As a first time home buyer in Idaho, you could get help purchasing through Pocatello Neighborworks. The organization can help you prepare for homeownership, find the resources you need to purchase a home and even learn more about alternative financing. They do not provide direct funding, but they might be able to help you with resources that can make buying a home easier.

Blaine County

There are affordable homeownership options in Blaine County! The county has programs that can help you find a home that’s affordable. They also have rehabilitated homes for sale that are far below market value. The county can help you access resources that might make it easier for you to purchase a home. You will need to qualify for help through Blaine County by meeting their requirements. The county might also offer resources that could help you get assistance with your down payment and more.

Canyon County

You might be able to get first mortgage assistance in Nampa. As a first time home buyer in Idaho, you could qualify for help purchasing your first home. You might even be able to get a silent second mortgage that could help you with a down payment or closing costs. You will need to meet income, credit, residency and other requirements to qualify for down payment assistance through Nampa.

Serious about buying a house? Don’t miss these other resources!

Get more assistance in Idaho!

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