New 100% financing program available in Idaho

New 100% Financing program for Idaho!

I attended a training class this morning offered through Idaho Housing and Finance Association (IHFA). One of the programs they discussed is the NEW Affordable Advantage Program. This program should be available next week...but you know how timelines roll! It is perfect timing considering that the USDA Rural Development funds have run out (they cater to different buyers anyway).

Here are some notes about this loan:

Purchase transaction only

NO Mortgage Insurance required (yea)

680 credit scores

Buyer must come to the table with $1000

Must be a first time homebuyer

Cannot own other real estate

No manufactured homes

Buyers must take the first time homebuyer class

I'm not a mortgage lender so really you should chat with your lender to see if this program is a good option for you. It's nice to see a 100% financing option available!