Finance Options

Homebuyers have a variety of financing options available to them, including conventional loans, FHA loans, VA loans, and USDA loans. It's important to work with a knowledgeable agent to explore which financing option is best for your unique financial situation and home buying needs.

Real estate selling process

Find the Option That Works for You

Cash Purchase

A cash purchase of a home is when a buyer purchases a property using their own funds without the need for a mortgage or other financing. It typically involves paying the full purchase price upfront in cash or through a cashier's check.

Conventional Loan

A conventional mortgage loan is a type of home loan that is not backed by a government agency. It typically requires a higher credit score and a larger down payment compared to other types of mortgages.

FHA Loan

An FHA mortgage loan is a type of government-backed home loan insured by the Federal Housing Administration (FHA). It is designed to help lower-income and first-time homebuyers qualify for a mortgage by offering more flexible credit and down payment requirements.

Down Payment Assistance

The Idaho Housing & Finance Association Down Payment Assistance Loan is a program that provides eligible homebuyers in Idaho with a second mortgage to help with their down payment and closing costs.

VA Loan

A VA mortgage loan is a type of home loan guaranteed by the Department of Veterans Affairs (VA) that is available to eligible military service members, veterans, and their spouses. It offers more favorable terms and requirements, such as no down payment and lower credit score requirements, compared to conventional loans.

Rural Development Loan

A rural development loan is a type of home loan offered by the United States Department of Agriculture (USDA) to help eligible low to moderate-income borrowers in rural areas purchase or improve their homes. It offers 100% financing and flexible credit and income requirements.

Home Heros Benefits

Idaho Housing's Idaho Heroes program offers low-interest loans to veterans, members of the military, teachers, firefighters, retail workers, healthcare professionals, law enforcement officers and paramedics. The program comes with the option to get a second mortgage of up to 7 percent of the purchase price and a 0.7% rebate after closing

Idaho Housing's Idaho Heroes Program