Down Payment Assistance for Idaho Homebuyers

Open

Idaho Housing and Finance AssociationIDFirst-Time Homeowner

Funding: Provides up to 8% of the sales price of the home in down payment and/or closing cost assistance for eligible Idaho homebuyers; requires a $500 minimum borrower contribution.Deferred loanScope: Statewidestate

Updated: Dec 1, 2025

Summary

Statewide Idaho down payment assistance program that layers a second mortgage on top of an Idaho Housing first mortgage to cover most or all of the required down payment and closing costs while helping buyers preserve savings

Benefits

Down payment assistanceClosing cost assistance

Who Can Apply

Individual

Eligible Locations

State of Idaho — all eligible homebuyers using Idaho Housing products.

Eligibility

Eligible Idaho homebuyers using an Idaho Housing first mortgage, meeting program underwriting and household income limits and completing approved homebuyer education

Full Description

Idaho Housing’s Down Payment Assistance for Idaho Homebuyers program offers qualified buyers up to eight percent of the home’s purchase price in a second mortgage that can be applied to both down payment and closing costs. The assistance is designed to pair with Idaho Housing first mortgage products so that borrowers can get into a home much sooner without having to save the full three to three and a half percent down that most loan products require. In many scenarios the buyer contributes only a five hundred dollar minimum of their own funds toward the transaction while the second mortgage covers the remaining upfront gap. The assistance is repaid over time through manageable monthly payments alongside the primary mortgage, spreading the cost over many years instead of requiring a large lump sum at closing. To qualify, households must fall under published income caps, complete certified homebuyer education through the Finally Home program, and work with an approved Idaho Housing lending partner who will structure the first and second mortgage combination. The program can also be used to pay eligible closing costs such as appraisal, inspection, and education fees, which helps new homeowners retain an emergency cushion and start homeownership on stronger financial footing.

Verification & Details

Complexity: Moderate

Confidence: 90%

Status: Open

Source: idahohousing.com

Based on Idaho Housing Down Payment & Closing Cost Assistance page; assistance is structured as a second mortgage.

Official source → idahohousing.com

Apply on official siteUpdated Dec 1, 2025

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Open

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