IHFA Milestones

2014. 2014 – IHFA had a $937.8 million housing and economic development impact on Idaho. IHFA’s innovation and industry leadership led to master servicing partnerships with sister organizations in New Mexico, Iowa, and South Dakota in which we service a share of their portfolios. With the help of more than 1,200 individual donors, the Home Partnership Foundation’s Avenues for Hope campaign provided more than $273,000 in funding to 29 organizations across the state that help prevent homelessness. The CSP generated more than $49 million in private loans that created or retained 800 jobs throughout the state. Graduated the 35,000th potential homeowner from Finally Home! Homebuyer Education. IHFA receives the Best Places to Work in Idaho award for the fifth year in a row. The Boise Metro Chamber of Commerce awarded IHFA the Financial Services Industry Excellence Award.
2013. 2013 – A record 4,490 Idahoans took the keys to their first home with the assistance of IHFA’s home loan programs. Thousands more were saved from the brink of foreclosure with IHFA’s free housing counseling. The Home Partnership Foundation’s Avenues for Hope campaign once again doubled its effort by providing more than $233,000 in funding to 31 organizations across the state that help prevent homelessness. The CSP generated more than $57 million in private loans that created or retained 630 jobs throughout the state. IHFA receives the Best Places to Work in Idaho award.
2012. 2012 – Mortgage interest rates remained at record lows. This combined with down payment assistance that only IHFA can offer led to financing more than $471 million in home loans, IHFA’s second-highest production total ever. The CSP generated more than $32 million in private loans that created or retained 580 jobs throughout the state. The Home Partnership Foundation’s Avenues for Hope campaign more than doubled its efforts by providing more than $100,000 in funding to boost homelessness prevention efforts to 22 organizations across the state. More than 950 individuals contributed to the campaign. IHFA receives the Best Places to Work in Idaho award.
2011. 2011 – IHFA invested nearly $490 million in housing and economic development projects, loans, and servicing, including financing $325.5 million in new home loans for more than 3,000 Idaho households. Administered federal stimulus funding that helped keep hundreds of people in homes and stabilize neighborhoods including the Emergency Homeowners’ Loan Program and the Neighborhood Stabilization Program. Partnered with the U.S. Department of the Treasury, Idaho Department of Commerce, and Idaho Bankers Association to introduce the Collateral Support Program (CSP) to help small businesses enhance their collateral and qualify for financing. The Home Partnership Foundation launched the Avenues for Hope online fundraising campaign which raised nearly $47,000 to help prevent homelessness in the state. IHFA receives the Best Places to Work in Idaho award.
2010. The Association offers a record-low interest rate of 3.75%. It is one of only four HFA’s across the country to make available a low-down payment loan for eligible homebuyers. Administered federal stimulus funding that helped keep hundreds of people in homes and stabilize neighborhoods including the Tax Credit Assistance Program, Homelessness Prevention and Rapid Re-housing Program, and the Neighborhood Stabilization Program. IHFA receives the Best Places to Work in Idaho award.
2009. IHFA managed more than $150 million in federal stimulus funding intended to help stabilize Idaho’s economy, and launched an innovative loan product called the Tax Credit 2nd Loan that allowed homebuyers to take advantage of the homebuyer tax credit up front. The Association introduced Bank Placement Bonds for Facility Loans, which offer tax-exempt rates to finance industrial, commercial, and other projects that promote economic development throughout Idaho. IHFA hosted the 2009 Idaho Conference on Housing, which had record attendance.
2008. IHFA introduced housingidaho.com, a free, bilingual rental listing and locator service, with the support of rental housing advocates across Idaho. IHFA launched the Home Partnership Foundation, Inc., the state’s only charitable 501(c)(3) housing organization that works to help people build a strong foundation for their lives through stable, safe, and affordable housing.
2007. To address the needs of Idaho communities seeking adequate housing for its workforce, IHFA launched the Workforce Housing Toolkit and the Home Equity Partnership Fund, a local community investment pool that partners with homebuyers to provide affordable workforce housing.
2006. IHFA launched IdaMortgage.com, an online resource and referral system for potential homebuyers seeking information on obtaining a mortgage, and opened its lending programs to mortgage brokers statewide. We issued our first GARVEE bond, which helped the Idaho Transportation Department fund highway projects across the state. IHFA also hosted the 2006 Idaho Conference on Housing, bringing housing stakeholders and government officials to Boise to discuss current housing issues.
2005. IHFA made 1,420 mortgage loans to Idaho families in 2005, a $138.7 million investment. IHFA adjusted its home sales price limits to $200,000 across the state, and $275,000 in Blaine and Teton counties. IHFA began offering down payment assistance grants of up to $10,000. Seventeen families received American Dream Down Payment grants during 2005. IHFA administered $7.1 million in grant funds. This year, IHFA distributed approximately $12.4 million in voucher assistance, providing access to affordable rental housing that is decent, safe, and sanitary. The association also distributed $20.7 million in rent subsidies to help very limited-income households meet rent obligations based on their ability to pay.
2004. IHFA celebrated its 50,000th mortgage loan and its 10,000th Finally Home! graduate. We launched a new Section 8 homeownership program for voucher participants to help the disabled own their own homes, financed new apartment developments in Rathdrum and Nampa through Housing Tax Credits and administered nearly $360,500 in Emergency Shelter Grants statewide.
2003. For the first time in the association's history, IHFA offered an interest rate below 5 percent - a record-low 4.75%. More than 230 borrowers obtained mortgages at that rate. IHFA also issued the 2,500th mortgage loan for a Hispanic borrower. The association was successful in bringing more federal housing resources to Idaho; funds invested through the association grew from $33.5 million to about $37.5 million in 2003, an 11 percent increase.
2002. Graduated nearly 2,300 potential home owners from the Finally Home! program and made available our lowest interest rate - 5.25%. Awarded $1.1 million for Supportive Housing projects and provided housing assistance payments to over 9,000 Idaho families.
2001. Increased sales price limits from $110,000 to $135,000 for newly constructed homes. Announced a record-low interest rate of 5.95%. Worked to successfully pass federal legislation that raises private activity volume caps by 50% over a two-year period.
2000. IHFA sold and closed a record $280,000,000 in Single Family Mortgage Bonds. The Association also serviced 21,195 mortgage loans – highest in the program’s history.
1999. Finally Home!® home buyer education is introduced statewide for first-time home buyers. Idaho Housing becomes Idaho’s Participating Administrative Entity (PAE) for the state’s preservation of affordable housing stock. All four Idaho congressional delegates sign on to a bill to increase capacity for federal housing bond and Housing Tax Credit authority—both key resources in providing affordable housing.
1998. IHFA's first Web site is launched. A new residential lending record - 3,204 affordable home loans - is set through the Single-Family Loan Program. Governor Batt's Affordable Housing Advisory Task Force is headed up by the Association. IHFA implements four of the 17 recommendations in three months.
1997. IHFA celebrates 25 years of serving Idaho's housing needs and hosts a record attendance Idaho Governor's Conference on Housing. HB 131 authorizes IHFA as the state's issuer of non-housing tax-exempt bonds to finance capital improvements for eligible nonprofits.
1996. SB 1296 removes State Sales Tax backing from future IHA bond issues, changes IHA's name to Idaho Housing and Finance Association (IHFA), and adopts public disclosure policy.
1995. IHA issues first Single-Family Mortgage bonds without sales tax backing. IHA issues a record $172.9 million in mortgage financing to help 2,647 Idahoans into home ownership.
1994. Idaho’s Family Self-Sufficiency Program begins as a cooperative effort between IHA and the Idaho Department of Health and Welfare.
1993. IHA became the first housing finance agency to issue Commercial Paper—an important short-term financing tool.
1992. IHA makes its 20,000th home loan to a Nampa, Idaho family.
1991. Governor Cecil Andrus signs SB 1091 increasing IHA’s bonding authority to $1.4 billion.
1990. Mortgage Services Group formed to service IHA's single-family mortgages in-house. IHA earns its own long-term general obligation credit rating of “A-1” from Moody’s Investor Services, a national rating agency. IHA is one of a few housing finance agencies in the nation authorized to underwrite HUD multifamily loan insurance. IHA issues first bonds backed by its own general obligation rating to finance new office facilities.
1989. Idaho Legislature approves an IHA bonding authority increase from $600 to $900 million.
1988. In April, IHA initiates a first-come, first-served reservation system for its Single-Family Mortgage loans. The new system broadens the distribution of IHA funds in Idaho.
1987. First Low-Income Housing Tax Credit issued for developments in Lewiston and Fruitland, Idaho.
1986. Governor John V. Evans signs E.O. 86-30, designating IHA as Idaho’s Allocating Agency for Low-Income Housing Tax Credit.
1985. IHA (in cooperation with the Idaho Association of REALTORS®, the Idaho Mortgage Bankers Association and the Idaho Building Contractors Association) sponsors Idaho’s first statewide housing conference.
1984. IHA’s bonding authority increases from $400 to $600 million through legislative approval.
1983. First IHA-financed, nonsubsidized multifamily housing complex—a 115-unit retirement complex in Boise.
1982. IHA initiates an Aggregated Exception System for its Single-Family Mortgage Loan Program, allowing staff to more closely monitor the Agency’s loan portfolio.
1981. Congress passes the Mortgage Subsidy Bond Tax Act, which restricts the use of funds derived from tax-exempt Mortgage Revenue Bonds sales.
1980. Legislation is approved increasing IHA’s bonding authority from $200 to $400 million.
1979. IHA initiates the Home Improvement Loan Program.
1978. IHA repays the Idaho Legislature’s 1976 appropriation in full. IHA introduces the Single-Family Mortgage Loan Program with $35 million in bonds.
1977. Idaho Legislature votes to extend State Sales Tax backing to IHA bonds, providing necessary credit enhancement to sell bonds in national credit markets. First Sales Tax-backed bond sold in June.
1976. IHA requests and receives a $38,000 appropriation to keep its doors open. HUD authorizes IHA to administer the Section 8 Program in Idaho.
1975. Idaho Supreme Court ratifies IHA’s ability to sell tax-exempt bonds and notes.
1974. First IHA construction loan note to finance housing for the elderly.
1973. All federal housing programs are placed on moratorium. This phases out the Section 23 Leased Housing Program—a means of securing multifamily bond issuances. IHA begins looking for other ways to meet bond issue security requirements.
1972. Idaho Legislature passes SB 1407, IHA’s (Idaho Housing Agency) enabling legislation.