3% of purchase price at 0% interest. Forgivable after 7 years. No monthly payments.
IHFA's forgivable DPA offers 3% of the loan amount that requires no repayment if you meet the occupancy period. It's a smaller amount than the 7% second mortgage option, but the forgiveness feature makes it effectively free money.
For buyers who plan to stay in their home long-term, the forgivable option is the better deal — no repayment ever, even when you eventually sell. The program works on FHA, VA, and conventional first mortgages through IHFA's network of approved lenders across Idaho.
This program can be used on 1-4 unit properties. Live in one unit, rent the others.
We'll show you how to combine IHFA Forgivable Loan (Idaho) with other programs to maximize your free money — personalized to your ZIP code and income.