Up to $20,000 down payment assistance available to qualified first-time homebuyers for a limited time

BOISE, ID – November 5, 2009 – (RealEstateRama) — Are you a first-time homebuyer? If so, you may be eligible for down payment assistance funds of up to $20,000 in conjunction with a mortgage loan from IdaMortgage, brought to you by Idaho Housing and Finance Association (IHFA), to purchase your new home. These down payment assistance funds are only available until Jan. 1, 2010, so you must act quickly to take advantage of this funding.

“Anyone who meets income qualifications should take advantage of this limited-time funding opportunity that will allow them to purchase a home,” said Gerald Hunter, IHFA President and Executive Director.

The dollar amount buyers may receive from this federal HOME program funding ranges from $1,000 to $20,000, and is based upon need. To qualify for this no interest, due-on-sale loan, borrowers must be at or below 80% of Area Median Income and be a first-time homebuyer. For example, a four-person household in the Treasure Valley must make $50,000 or less to meet income requirements. To view a complete listing of other HOME requirements and current income limits, which vary in different areas of the state, visit IHFA’s Web site at http://www.ihfa.org/idamortgage/home_program.asp.

For more details on this program, visit www.idamortgage.com and click on the Down Payment assistance link, or call (208) 331-4881 in the Treasure Valley, or toll-free at 1-877-447-2687.

Idaho Housing and Finance Association, a financial services and housing business organization, provides funding for affordable housing in Idaho communities where it is most needed and when it is economically feasible. For more information, visit our Web site at www.ihfa.org.

Contact:
Lisa Davis lisad (at) ihfa (dot) org
Public & Media Relations Officer
208-331-4858
Steve Rector stever (at) ihfa (dot) org
Public Affairs Director
208-331-4725