Funds AvailableStatewideSecond Mortgage
IHFA HFA Preferred / Conventional
Idaho Housing and Finance Association (IHFA)
$56,000
Maximum Assistance
120%
AMI Income Limit
Program Summary
Fannie Mae HFA Preferred and Freddie Mac HFA Advantage purchase programs through IHFA. Up to 97% LTV. No first-time buyer requirement. Standard MI required above 80% AMI. Pair with DPCC second mortgage up to 8%. Lower rates on loan amounts $350,000 or less. AUS approval required. Manufactured homes allowed per agency guidelines.
Eligibility Requirements
Location
Available statewide in Idaho
Buyer Type
Open to all buyers (first-time and repeat)
Income Limit
Household income must not exceed 120% AMI for Ada County:
| Household | 120% AMI Limit |
|---|---|
| 1 person | $89,926 |
| 2 people | $102,750 |
| 3 people | $115,576 |
| 4 people | $128,400 |
Showing sizes 1-4. See all household sizes
Ada County • FY 2025 HUD Income Limits
Primary Residence
Must be your primary residence (not investment property)
Buyer Contribution
You must contribute at least $500 of your own funds
Homebuyer Education
Completion of a HUD-approved homebuyer education course is required
How to Apply
- 1Complete Finally Home!® education if using IHFA DPA or if required by AUS.
- 2Work with an IHFA-approved lender on HFA Preferred or HFA Advantage.
- 3Get AUS approval (DU for Fannie, LPA for Freddie).
- 4Add the 15-year DPCC second mortgage (up to 8%) if desired.
- 5Close with both loans packaged together.
Required Documents
- Credit report (680+ recommended)
- Income verification
- Finally Home! certificate
Contact Information
IHFA-approved lenders · Program questions: resloan@ihfa.org
IHFA Program DetailsLast verified: 2026-05-26