Idaho Down Payment Assistance Program

When you buy a home, you are required to pay a down payment. A down payment is a contribution toward the purchase of your home that you pay upfront, before moving in. The minimum down payment you need depends on the type of mortgage you’re using to buy your home, but typically ranges between 3% and 3.5% of the sales price of the home. Many aspiring homebuyers struggle to save a 3% down payment, especially as rising home prices in Idaho push that amount into the tens of thousands.

Idaho Housing’s down payment assistance program eases the upfront financial cost of buying a home and allows you to start building generational wealth sooner. This program provides homebuyers up to 8% of the sales price of the home to use towards the down payment and/or closing costs. Idahoans who use this program can contribute as little as $500 of the sales price of their own funds to the purchase.

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Who is eligible for down payment assistance?

Down payment assistance is available to all eligible Idaho homebuyers, not just first-time homebuyers.

To be eligible, a buyer must:

Have a household income at or below $170,000 (some loan programs require lower income.

Sign up for Finally Home! Homebuyer Education

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Who is down payment assistance best for?

Down payment assistance might be right for you if:

• You have enough for a 3% down payment, but it would completely drain your savings.
• You have a secure, well-paying job, but saving all the way up to a 3% down payment is challenging.

Down payment assistance might not be right for you if:

You’re not ready for the responsibility of homeownership.

You wouldn’t have any money left in savings after your purchase, even with down payment assistance.

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How do I get down payment assistance?

You’ll need to work with one of our lending partners throughout the state. You can find a directory of our lending partners here. You can learn about the full process of getting a loan with Idaho Housing here.

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