Close

On Friday, October 24 Idaho Housing and Finance Association’s offices will close at 2:00p.m. MDT, 1:00p.m. PDT due to building maintenance. Our staff in Boise and our branch offices will be unavailable by phone that afternoon and you will not be able to leave voice mail messages on our system through the weekend. Also our Lender and Borrower Connections will be inaccessible through Sunday, October 26. Our offices will reopen on Monday, October 27.

Quick Reference Sheet for Lending Partners

This Quick Reference Sheet provides you with IHFA's current interest rates and loan products available. 

For complete program requirements, log on to Lender Connection for IHFA underwriting guidelines.

Brokers, for compensations details, email lockdesk@ihfa.org. 

Certain restrictions apply. Programs are subject to change at any time.

For more information, please call Toll Free 1-800-219-2285 or (208) 331-4883.
For program questions, please email resloan@ihfa.org. For lock questions, please email lockdesk@ihfa.org

Loan Programs

Rates updated on October 24, 2014 9:00 AM.

First Loan Product

  • Buyers who qualify for the First Loan Program can qualify for DPA gift of up to 2 percent. (FHA and VA only)
  • Sales price and income limits apply.
  • Manufactured homes are allowed.
  • Homebuyer tax credit program CANNOT be used with this product.
  • ½ point premiums apply
  • DPA options subject to change
  • May rent the property after 12 months of owner occupancy.
  • Minimum mid-credit score of 620 is required for all borrowers.

Toll Free - 1-800-219-2285

(208) 331-4883

For program questions,

email resloan@ihfa.org

For lock questions,

email lockdesk@ihfa.org

First Loan Products

ProductPremium Pricing / Discount PointsOptional DeliveryProduct Specifics

FHA/RD/VA Loan

.00
3.625%
  • Does not include down payment assistance gift

First Loan Plus 1                (FHA and VA only)

+.50
3.825%
  • This program includes a 1% gift for down payment assistance.

First Loan Plus 2                      (FHA and VA only)

+.50
4.025%
  • This program includes a 2% gift for down payment assistance.

A 30-year 2nd mortgage can be added for the remainder of down payment assistance up to a total of 3.5%

Calculate Rates According to
FICO Scores
  • For FICO scores of 680 and above the second mortgage loan interest rate will be 1% higher than the first mortgage interest rate.
  • For FICO scores of 620 to 679 rate will be 2% higher than the first mortgage interest rate. More details
Visit Lender Connection for more information on recapture reimbursement and other First Loan forms.

Advantage Loan Products

  • Does not have to be a first time homebuyer
  • May qualify for Homebuyer Tax Credit Program
  • Low, fixed rate
  • Maximum homebuyer income $90,000 for all counties, except Blaine County, which is $110,000
  • Minimum middle-credit score of 620 is required for all borrowers.
ProductDown Payment Assistance / Pricing PointsOptional DeliveryProduct Specifics

HFA Preferred Lo MI

+3
+2
+1
0
1
2
4.625%
4.500%
4.250%
4.125%
4.000%
3.875%
  • Maximum first mortgage 97% Loan to value
  • Up to 100% with down payment assistance
  • No minimum investment required
  • Finally Home!® Homebuyer Education is required
  • Lower Mortgage Insurance option available
  • Purchases and rate/term refinance options
  • No manufactured homes
  • Good credit rewards only available on par and up to 2% discount points. 
  • *DPA pricing rates require minimum .5% borrower cash investment
    Specific Income Limits Apply
    Specific Manual Underwriting Criteria Apply

HFA Preferred Risk Share - No MI

0
1
2
4.625%
4.375%
4.125%
  • Maximum first mortgage 97% Loan to value
  • Up to 100% with down payment assistance
  • Finally Home!® Homebuyer Education is required
  • Lower Mortgage Insurance option available
  • Purchases and rate/term refinance option
  • No manufactured homes

Specific Manual Underwriting Criteria Apply

FHA/VA/RD Loan

+4
+3
+2
+1
0
4.625%
4.375%
4.125%
3.875%
3.625%
  • Includes Down Payment Assistance (DPA) up to 5 points. No repayment.
  • 1+ thru 5+  down payment assistance pricing has a $90K income limit
  • 620 credit score
  • Manufactured housing is allowed 
  • DPA can also be used for closing costs
  • Good Credit Rewards is only available at 0 points. 
  • *DPA pricing rates require minimum .5% borrower cash investment
    Specific Income Limits Apply.

Manufactured Housing Loans - Conventional

+3
+2
+1
0
5.375%
5.125%
4.875%
4.625%
  • Conventional loans only 
  • Minimum middle-credit score of 680 is required for all borrowers
  • Loans must be approved through Loan Prospector’s Automated Underwriting or DU System 
  • Rate term refinancing okay 
  • Good Credit Rewards may be used with this product

Conventional 30 year

0
1
2
3.875%
3.625%
3.375%
See LLPA chart below for LTV/FICO adjustments to the Conventional and DU Refi Plus Program

15 year

0
1
2
3.125%
2.875%
2.625%

See LLPA chart below for LTV/FICO adjustments to the Conventional and DU Refi Plus Program

Add .25% to the rate for cash out

20 year

0
1
2
3.625%
3.375%
3.125%

See LLPA chart below for LTV/FICO adjustments to the Conventional and DU Refi Plus Program

Add .25% to the rate for cash out

FHA 203(k) Streamline Rehabilitation Loan

+4
+3
+2
+1
0
4.625%
4.375%
4.125%
3.875%
3.625%
  • Minimum middle-credit score of 620 is required for all borrowers.
  • AUS approval required
  • No manufactured homes

LLPA Chart

  • Add Conventional fee to the rate
  • No additional add-ons for subordinated Community seconds
  • Other subordinated seconds will be considered on a case-by-case basis and may result in additional add-ons
  • Add-ons based on the lowest credit score of all borrowers
  • Condos add .50% to the rate
  • Add .25% cashout refi

Refinance Products

ProductPremium Pricing / Discount PointsOptional DeliveryProduct Specifics

FHA/VA Cash-Out Refinance

0
3.625%
  • Minimum middle credit score of 620 is required for all borrowers
  • No manufactured housing

30 yr Conventional Cash-Out Refinance

0
1
2
4.125%
3.875%
3.625%
  • No manufactured housing
  • See LLPA chart below for LTV/FICO
  • 20 and 15 year cash out available- adds .25% to rate

FHA Streamline Refinance
and
VA Interest Rate Reduction Refinance Loan (IRRRL)
and
USDA-RD Streamline Refinance Loan

+3
+2
+1
0
4.375%
4.125%
3.875%
3.625%
  • Minimum middle credit score of 620 is required for all borrowers
  • Current loan does not have to be an IHFA loan
  • Premium pricing available to cover closing costs and prepaids only
  • Borrowers must be eligible for Advantage Loan products and meet income limits
  • Three file merge credit report required
  • Full income documentation required for income limit purposes only for FHA/VA
  • Transactions may be processed with or without an appraisal
  • Single-family dwellings only
  • Manufactured housing is allowed
  • Rate and Term Refinancing okay

FHLMC & FNMA HARP >125%

0
1
2
4.250%
4.000%
3.750%
       
  • Add .50% to the rate for LPMI (Lender Paid MI)
  • See LLPA chart below for LTV/FICO
  • AUS approval required

FHLMC & FNMA HARP <125%

0
1
2
4.125%
3.875%
3.625%
       
  • Add .50% to the rate for LPMI (Lender Paid MI)
  • See LLPA chart below for LTV/FICO
  • AUS approval required

HARP 15 year

0
1
2
3.375%
3.125%
2.875%
       
  • Add .50% to the rate for LPMI (Lender Paid MI)
  • See LLPA chart below for LTV/FICO
  • AUS approval required

HARP 20 year

0
1
2
3.875%
3.625%
3.375%
       
  • Add .50% to the rate for LPMI (Lender Paid MI)
  • See LLPA chart below for LTV/FICO
  • AUS approval required

LLPA Chart

Credit Score
LTV < 60%
LTV 60.01 - 75.0
LTV 75.01 - 80.0
LTV 80.01 - 95.0
DRPlus
720 or above 0.000 0.125 0.125 0.125 0.000
700 - 719 0.000 0.250 0.250 0.500 0.125
680 - 699 0.000 0.375 0.375 0.375 0.375
660 - 679 0.000 0.500 0.625 0.625 0.625
640 - 659 0.125 0.625 0.750 0.750 0.750
620 - 640 0.125 0.875 0.875 0.875 0.875

Down Payment and Closing Cost Assistance Programs

ProductKey Features
Good Credit Rewards
  • Minimum credit score 700
  • Can be used with Advantage loan products at par rate or discounted rates.
  • 10-year loan amortization
  • Not applicable for refinances
  • First Loan income limits apply when used with an FHA loan.
  • Interest rate is 2% higher than mortgage rate of the first mortgage
  • Homebuyer education is required for buyers with credit scores lower than 720
HOME Down Payment and Closing Cost (DPCC) Assistance
  • May be available for homebuyers with a annual household income at or below 80% of area median income
  • Minimum of $1,000 with a maximum of 3.5% of the HOME Maximum purchase price not to exceed $8,000, based on borrower's need, and the adjusted gross household area median income (AMI)
  • Cannot be used in conjunction with IHFA Gift programs or other IHFA 2nd mortgage programs
  • HOME offers other programs with differing amounts of subsidy. Contact the number below if you have questions.
    Borrower eligibility and HOME program requirements
  • Can be used with all of Idaho Housing First Loan products or USDA-RD
  • Lender Required Documents 

Please direct all questions to homedpcc@ihfa.org or call 1-877-447-2687

More Details

Neighborhood Stabilization Program Homeownership Assistance
  • Need based acquisition subsidy
  • Maximum total debt to income ratio 43%
  • Income restrictions of either 50 or 120% of Area Median Income
  • Minimum investment of $500.00 from homebuyer
  • Classroom Homebuyer Education required
  • Cannot be used in conjuction with IHFA Gift programs or other IHFA 2nd mortgage programs.

More Details for NSP 1
More Details for NSP 3