Down Payment Assistance

Who is a first time home buyer? A first time home buyer is defined as an individual, who has not had an ownership interest in a home within the last three years. If you fit this definition, you might be eligible for down payment assistance.

Idaho down payment assistance programs have no seller conditions or contribution requirements. The only requirement to satisfy government assistance housing guidelines is that your family income must meet the stipulated minimum, which varies according to the number of your dependents and the median income for the area in which you intend to purchase.

To find out if you are eligible to receive First Time Home Buyer financing you must first work with an approved lender. The following is an overview of what to expect when working with a lender.

  • Contact Idaho First Time Home Buyer Guide To find a lender in your area.
  • The lender will determine your eligibility based on program criteria.
  • The lender can explain the estimated maximum loan amount and sales price limit for the county in which you are purchasing.
  • The lender will also explain the income limit for the county in which you are purchasing.
  • Attend a homebuyer education counseling class through an eligible homebuyer education counseling organization

Once the lender has gathered the required materials and qualified you for a loan program, the lender will work to secure your loan.

Idaho First Time Home Buyer Guide does not lend money directly to consumers. We use approved private lenders to qualify consumers and make all mortgage loans. The rates consumers pay could vary depending on program criteria.

Not sure where to start?  Try our 60 second
Idaho First Time Home Buyer Analysis.