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Idaho Housing Home Loans

Idaho Housing Home Loans: Affordable Options for Idaho Buyers

Idaho housing home loans are designed to help homebuyers across the state afford their dream of homeownership. These programs offer a variety of loan types with low down payments, flexible credit options, and even closing cost assistance. Whether you’re a first-time buyer or someone with past credit issues, there's likely a loan program that fits your needs.

Whether you're a first-time homebuyer or someone with credit challenges,

there's likely an Idaho housing loan that fits your needs.

Common Idaho Housing Loan Programs

Here are three of the most popular Idaho Housing home loans:

FHA Loans

FHA loans are insured by the Federal Housing Administration. They allow down payments as low as 3.5% and offer flexible credit guidelines. These loans are great for first-time homebuyers or anyone with a limited credit history.

USDA Loans

USDA loans are backed by the U.S. Department of Agriculture. These loans are for homes in eligible rural areas and offer zero down payment with reduced closing costs. If you’re looking outside city limits, this is a fantastic option.

Conventional Loans

Conventional loans are not government-backed but are widely used for Idaho housing home loans. They typically require a minimum of 3% to 5% down, and while credit requirements are stricter than FHA or USDA loans, borrowers with solid credit can benefit from lower mortgage insurance costs and greater flexibility in property types.

Who Qualifies for Idaho Housing Loans?

To qualify for Idaho housing home loans, you'll need to meet basic requirements such as:

• A stable income

• A qualifying credit score, down to a 620.

• Property located in Idaho

• Meeting specific program guidelines (which vary by loan type)

Some programs also have income limits or property price caps. But don't worry - 1st Choice Mortgage will walk you through everything.

Benefits of Idaho Housing Home Loans

Here's why Idaho Housing loans are such a great choice:

• Low down payments: Ideal for first-time buyers

• Flexible credit requirements: More forgiving than conventional-only loans

• Down Payment Assistance:  Idaho Housing has Down Payment Assistance.

• Closing cost assistance: Some programs help cover out-of-pocket costs

• Government guarantees (FHA/USDA): Makes qualifying easier and reduces lender risk

Let's Get You Started

If you’re thinking about buying a home, Idaho Housing home loans may offer just what you need - affordable options with less hassle. The application process can seem complex, but we're here to help.

Contact 1st Choice Mortgage today and let us guide you through every step of the loan process.

Idaho Housing FHA/Conventional First Loan Plus (purchase) BACK AS OF 03/03/2025!!!!

Excellent Program for 1st time home buyers and sometimes 2nd time home buyers that offers 100% financing.

• 96.5% 1st Loan FHA, 97% Conventional
• Down Payment Assistance and Grants Available up to 10% Learn More
• Minimum Credit Score 580 for FHA, 620 For Conventional
• First Time Home Buyer required except for Targeted Counties in Idaho
• Seller can pay for ALL Closing Costs
• Temporary and Permanent Rate Buydowns available
• Borrower just needs to have .5% of purchase price into transaction
• Closing Costs Assistance Available.
• Online Home Buyer’s Class Required
• Family Income Restrictions
• Call for Details! (208) 375-LOAN
• Any Idaho County

Idaho Housing Preferred (purchase OR refinance)

Conventional loan with VERY loan Mortgage Insurance for 1st time home buyers.

• 97% 1st Loan
• 95% for Manufactured Homes, purchase only.
• Down Payment Assistance and Grants Available up to 5% (More Info)
• Minimum Credit Score 620
• First Time Home Buyer Requirements
• Seller can pay for ALL Closing Costs
• Temporary and Permanent Rate Buydowns available
• Borrower just needs to have .5% of purchase price into transaction
• Home Buyer Class required
• Family Income Restrictions
• Call for Details! (208) 375-LOAN
• Any Idaho County

Idaho Housing FHA (purchase OR refinance)

We offer GREAT FHA loans throughout Idaho for both 1st Time Home Buyers and 2nd & Time Home Buyers!

• 96.5% 1st Loan
• Down Payment Assistance and Grants Available up to 5% (More Info)
• Minimum Credit Score 580
• NO First Time Home Buyer Requirements
• Seller can pay for ALL closing costs
• Temporary and Permanent Rate Buydowns available
• Borrower just needs to have .5% of purchase price into the transaction
• Home Buyer Class may not be required
• Family Income Restrictions
• < $150,000 (as of 05/23/2022)
• Any Idaho County

Idaho Housing USDA Rural Development (purchase OR refinance)

RD loans throughout Idaho in qualified areas, GREAT 100% loan with VERY low mortgage insurance

• 100% Financing
• NO DOWNPAYMENT REQUIRED (More Info)
• Minimum Credit Score 620
• NO First Time Home Buyer Requirements
• Seller can pay for ALL closing co.5% of purchase price into transaction
• Home Buyer Class may not be required
• Family Income Restrictions
• Geographical Restrictions
• Learn more about Rural Home Loans

Idaho Housing Conventional Loans (purchase OR refinance)

We offer many Idaho Housing Conventional loans, 30 year, 20 year, and 15 year loans

• 95% Financing
• Down Payment Assistance and Grants Available up to 5% (More Info)
• Minimum Credit Score 620
• No First Time Home Buyer Requirements
• Seller can pay for ALL closing costs
• Temporary and Permanent Rate Buydowns available
• Borrower just needs to have .5% of purchase price into transaction
• Home Buyer Class may not be required
• Family Income Restrictions
• <$150,000 (as of 05/23/2022)
• Any Idaho County