New IFHA Financing Option
There’s a new program by the Idaho Housing & Finance Association (IHFA) through its IdaMortgage loan program. The Affordable Advantage Loan is designed for first-time home-buyers and has the following key features:
- First-time home-buyer
- No private mortgage insurance required
- Owner occupied
- Check the income limits chart for qualifications
- No sales price limits
- Minimum borrower contribution $1000
- Borrower must complete Home-Buyer’s Education class
- Up to 100% Loan to Value for home-buyers with credit scores of 680 or higher
- Up to 97% Loan to Value for home-buyers with credit scores of 660 or higher
You can contact a local IHFA Lender here to determine your eligibility.
The above information is not guaranteed & is subject to change without notice. Please visit the www.Idamortgage.com website for more details and the latest information.
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