The Idaho Housing and Finance Association (IHFA) have launched a new program to make homeownership a reality through its IdaMortgage program. The new Affordable Advantage Loan offers a down payment as low as $1,000, and has no mortgage insurance requirement, saving qualified borrowers money on the mortgage payment every month.
"This IHFA exclusive financing option is a great tool for homebuyers as the housing market in Idaho continues its recovery," said Gerald Hunter, IHFA president and executive director. "It offers another affordable lending option for low- to moderate-income homebuyers across the state."
Features of the Affordable Advantage Loan include:
- As little as $1,000 needed from borrower to close
- A low-cost, 30-year fixed interest rate
- No mortgage insurance required, reducing a borrower's monthly payment
- Financing to first-time homebuyers (including those who have not owned a home in the past three years) with good credit histories, requires a 680
- Income limits apply
- Loans are serviced in Idaho by IHFA
Home buyers should call me today at (208) 287-1717 to check their eligibility, or visit IdaMortgage www.IdaMortgage.com
Call us with any questions you have relating to residential mortgages (208) 287-1717, we are always very happy to help. We specialize in home loans for first time home buyers, move up buyers, second home purchases, and resort lending. The loan products available to my clients include FHA, IHFA, VA, Conforming Conventional, Jumbo and Super Jumbo Portfolio.
Our primary markets are Ada County (Boise, Eagle, Meridian, Kuna, Star), Canyon County (Nampa, Caldwell, Middleton), and Valley County (Cascade, Donnelly. Tamarack, McCall).
Wish we had this in Louisiana! How's the market in your neck of the woods?