Boise Homeownership Opportunity Program (HOP)

What This Program Offers

City of Boise Homeownership Opportunity Program (HOP, policy revised 2/2025): deferred mortgage assistance for down payment, closing costs, or reducing the first mortgage within Boise city limits.

• Funded primarily through HUD CDBG; PRICE funds may apply for eligible manufactured homes.
• Income 50–80% AMI; all borrowers must occupy — no non-occupant co-borrowers.
• Fee-simple purchases: up to $45,000.
• Community land trust, leasehold, or other deed-restricted homes: up to $65,000 with City resale restrictions.
• Minimum 0.5% borrower contribution; liquid assets over $35,000 must be applied to the purchase; post-closing reserves of 2× monthly housing payment expected.
• Max 39% front-end / 45% back-end DTI.
• Fee-simple repayment at sale or transfer: original assistance × (future sales price ÷ original purchase price), capped at net proceeds.
• IHFA first mortgages qualify.
• Referrals only through NeighborWorks Boise or LEAP Housing (RFQ-selected partners).
• Finally Home!® or HUD-approved education required.
• Manufactured/modular homes eligible with additional site and inspection requirements.

How to Apply

1. 1

   Confirm household income is 50–80% of Ada County AMI and all loan borrowers will occupy the home.

2. 2

   Apply through a City partner: NeighborWorks Boise or LEAP Housing (open, competitive intake).

3. 3

   Phase 1 — Partner submits income verification (employment, pay stubs, bank/asset statements) for City eligibility review.

4. 4

   Phase 2 — Partner submits first mortgage approval, purchase contract, AUS findings, credit report, earnest money, and Finally Home!® or HUD homebuyer education certificate for City underwriting.

5. 5

   Phase 3 — After conditional approval, partner submits appraisal, closing disclosures, insurance, title, and closing docs.

6. 6

   City wires approved assistance to escrow at closing; Deed of Trust and Homebuyer Agreement recorded.