Is the program available to all first-time homebuyers? Yes - the program is available now until December 1, 2009 for qualifying first-time homebuyers. For more information on the tax credit and qualifications click here . The National Association of REALTORS® is actively working to extend the credit through 2010 and permit all purchasers to utilize it.
Does Idaho have a way for a homebuyer to access the funds for a down payment? Yes - With ACARs encouragement, The Idaho Housing and Finance Association implemented the Tax Credit Advance Loan to access funds at the time of closing. Idaho is one of 10 states offering the advance.
In Idaho will the REALTOR® Associations pay off interest on the tax credit advance loan? Yes - To help encourage home ownership, REALTORS® Associations in Idaho created the Welcome Home Idaho program. REALTORS® in Idaho have offered to pay off the interest on the tax credit loans to individuals who pay off the loan by the due date of July 1st 2009. The availability of the payoff is on a first come first served basis until the contributed funds are gone.
Can lenders is Idaho access the tax credit advance loan? Yes - According to IHFA, "any lender making that statement they will not utilize the credit is doing so based on an internal company policy. There is no reason that every approved IHFA lender cannot offer the Tax Credit Advance right now. In fact nearly 800 Idahoans have applied for it since it was introduced in March." For a list of IHFA approved lenders go to www.ihfa.org
HUD Mortgagee Letter: http://portal.hud.gov/pls/portal/docs/PAGE/FHA_HOME/LENDERS/MORTGAGEE_LETTERS/2009_MORTGAGEE_LETTERS/09-ML-15%20USING%20FIRST-TIME%20HOMEBUYER%20TAX%20CREDITS.PDF
Beautiful Mountain View Property!
• single story
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MLS®
$275,000
Garden Valley, Garden Valley
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Beautiful mountain view property. Multiple building sites possible. Property is sub-dividable with irrigation available. Water rights secured. Septic survey completed. Bordered by Boise National Forest on one side and water on two sides. Lightning creek ravine, west facing valley, and Middle Fork views. Easy access to hiking and even a secluded beach. This might be the last best piece of property in the entire valley. Owner/Agent.
Property information
use Studio rent to offset mortgage!
• 1,464 sq. ft., 1 bath, 3 bdrm single story "California Ranch"
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MLS®
$199,900
- $500 house payment!
North Boise, Boise City
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Own the "American Dream" & become an investor at the same time. North-end...$500.00/ month mortgage payment! Combine this with the $8K First Time Home Buyer's incentive & you will not see an opportunity like this again! Hardwood floors throughout. Refrigerator, W/D, Dishwasher, Built-in Microwave all included! Large lot just waiting for a "green thumb." Off-Street Parking.
Property information
Perfect for the First Time Home Buyer!
• 1,248 sq. ft., 2 bath, 3 bdrm single story "Ranch"
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MLS®
$150,000
West Boise, Boise City
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PEFECT FOR FIRST TIME HOME BUYERS-UTILIZE THE 8K TAX CREDIT. Great starter home in established neighborhood on a quiet street. New hardwood floors in common areas and new floor in kitchen. Windows have been upgraded throughout. Kitchen has been partially remodeled. This home is centrally located close to schools and shopping. Not a drive by…call for a showing now!
Property information