Busting the Top First-Time Home Buyer Myths in Idaho

Buying your first home in Idaho? Congrats - you're about to step into the world of house hunting, mortgages, and more paperwork than you thought possible. But before you panic, let's clear the air on some of the biggest first-time home buyer myths floating around Boise, Nampa, Meridian, and beyond.

At 1st Choice Mortgage, we hear these myths all the time. Let's bust them wide open:

Myth #1: "I need a 20% down payment to buy a home in Boise."

Nope! Unless you've got a bag of gold hidden in your backyard potato cellar, 20% is not required. FHA loans can get you in for as little as 3.5%. VA and USDA loans? Zero down. And Idaho Housing even offers down payment assistance. Don't let the 20% myth scare you off.

Speaking of Idaho Housing, they just extended their down payment assistance to 8%, as of September 1st, 2025!

And…even better, they reduced their minimum out of pocket expense by the borrower to just $500.00!!

Check out more information here:  Idaho Housing Down Payment Assistance

Myth #2: "Renting is always cheaper than buying in Nampa."

This one's about as reliable as a snowstorm in July. With rent prices climbing across Idaho, many buyers find that their monthly mortgage payment is actually less than what they're paying in rent. Plus, when you own, you're building equity - not just your landlord's retirement fund.

Myth #3: "I can't buy because my credit isn't perfect."

Your credit doesn't need to sparkle like a brand-new Ford pickup in the dealer lot. Programs like FHA and Idaho Housing are built for folks who don't have flawless credit. The key is working with a local loan officer (hey, that's us!) who can guide you through options.

Myth #4: "Only fancy homes in Eagle qualify for financing."

Whether it's a cozy starter in Caldwell or a cabin in Cascade, there are loan programs for nearly every kind of home. USDA covers rural areas, FHA works well for first-timers, VA helps veterans, and conventional loans are flexible. Financing isn't just for McMansions with three-car garages.

Myth #5: "I don't need a realtor, I'll just use Zillow."

Ouch. Sure, Zillow is fun for browsing (and daydreaming about $1.5M waterfront homes in McCall), but it won't negotiate repairs, protect you in contracts, or stop you from accidentally buying a house with a family of raccoons in the attic. A good realtor is worth their weight in huckleberries.

Do you need a Realtor, we can help you with that!  We have some of the best, Full Time, Professional Realtors in Idaho!

Myth #6: "Closing costs aren't negotiable."

Think again. Sometimes sellers will chip in, and sometimes your lender can help structure things to ease that upfront cost. At 1st Choice Mortgage, we know the Idaho tricks and tools to make closing costs less intimidating.

Sellers are all about selling their home…duh…and giving seller concessions to pay the borrowers closing costs can make a deal happen!!

Myth #7: "The mortgage process is scary and confusing."

Buying a home can feel like navigating the Boise River in an inner tube with no paddle - exciting but overwhelming. That's why you work with local experts who speak Idaho, not some 1-800 lender three states away or in the Philippians . We'll walk you through step by step (and even translate the mortgage jargon into plain English).

The Bottom Line

Don't let myths hold you back from homeownership in Idaho. With the right loan program, realtor, and a mortgage team that has your back, you'll be hanging that "Home Sweet Home" sign in no time.

👉 Ready to bust your own first-time buyer myths? Contact 1st Choice Mortgage today and let's get you into your Idaho dream home.