Idaho Housing had a nearly $2 billion impact on the state while creating hundreds of jobs. We helped homeowners around Idaho, issuing nearly 6,000 home loans worth $1.9 billion and investing another $104 million in affordable developments. Our infrastructure funding increased, as we issued $350 million in tax-exempt bonds for the Idaho Department of Transportation. It was also a record year for our foundation’s Avenue’s for Hope campaign, which raised $3.4 million for 97 nonprofits around Idaho who focus on housing and supportive services.
Idaho Housing and Finance issued nearly 7,700 home loans in the state worth $2.3 billion. Our investment in our communities and small businesses helped fund a number of projects for nonprofits and affordable housing, while our Collateral Support Program helped create or retain nearly 600 jobs for Idaho’s small businesses. The Idaho Transportation Department worked with us to finance road and infrastructure improvements across the state, as we issued $184.6 million in tax-exempt bonds, known as TECM bonds. Our foundation’s Avenue’s for Hope campaign raised another $2.7 million for 88 housing nonprofits around the state.
IHFA continued to support those in need from the pandemic by providing rent and utility assistance to 7,000 families, and helped more than 3,000 homeowners get back on track with their mortgages after being on forbearance with free housing counseling. With our economic development, rental housing, homeless services, grants, and homeownership lending programs we had a $3.4 billion dollar investment in Idaho. Our foundation’s Avenues for Hope campaign raised another $2.5 million benefiting 88 nonprofits throughout Idaho who help prevent homelessness.
Idaho Housing had a $2.88 billion economic impact on the state. We helped create hundreds of jobs, invested more than $66 million in economic development and purchased almost 57,000 loans worth $7.18 billion. During the pandemic, Idaho Housing helped thousands of homeowners stay in their homes with our forbearance program. After their forbearance period ended, we helped them get their mortgages back on track with a special counseling program. Our Housing Preservation Program provided short-term rent and utility support for thousands of Idaho renters who experienced pandemic-related hardship. We unveiled the Idaho Heroes Loan program, which helped connect essential workers, teachers, veterans and first-responders with sustainable homeownership. We partnered to help complete Valor Pointe in Boise, the state’s first supportive housing development for veterans experiencing chronic homelessness. Our foundation’s annual Avenues for Hope Housing Challenge raised a record $2.6 million for 78 housing nonprofits throughout Idaho.
Idaho Housing helped create hundreds of jobs and spurred more than $222 million in economic development. We purchased nearly 47,000 loans worth $5.75 billion and provided loan servicing of nearly $16 billion in mortgage principal balances in seven states. Since 2011, The Home Partnership Foundation’s Avenues for Hope Housing Challenge has raised nearly $4.4 million to help more than 70 nonprofits that provide critical housing services in Idaho. The Homebuyer Education Program continues to help first-time homebuyers become successful homeowners navigating them through the home-buying process.
IHFA had a $1.87 billion housing and economic development impact in Idaho. Thanks to our partnerships with lenders, REALTORS®, and sister HFAs, we purchased more than 30,000 loans worth $6 billion. IHFA was an integral piece of a partnership that helped complete the New Path Community Housing development in Boise. It is the first of its kind in Idaho to follow the Housing First model to care for the city’s homeless population. Avenues for Hope, our foundation’s annual fundraiser, raised a record $876,000 and topped the $3 million mark for total money raised since 2011.
IHFA’s broad spectrum of business activities resulted in a $1.54 billion investment in Idaho’s economy, bringing significant improvements throughout the state. IHFA helped more than 8,000 families with new home loans, invested more than $6.8 million to combat homelessness and allocated $96 million to help renters and build new affordable rental housing.
IHFA invested $1.53 billion in housing and economic development projects, loans, and servicing, including financing $1.2 billion in new home loans for more than 7,500 Idaho households. The Home Partnership Foundation’s Avenues for Hope campaign had its biggest year yet. With more than 2,200 donors and 29 sponsors, the campaign provided $501,439 in funding to 40 organizations across the state that help prevent homelessness. More than $1.6 million has been raised in the six years since the Avenues for Hope campaign was introduced. The Collateral Support Program generated 47 million in private loans that created or retained 559 jobs throughout the state. We added master servicing with our sister organization in Texas. Finally Home! Homebuyer Education graduated another 6,457 potential homeowners.
IHFA had a 1.18 billion housing and economic development impact on Idaho, and helped more than 5,800 Idahoans become homeowners. We added master servicing with our sister organization in Connecticut where we service a portion of their portfolio. With more than 1,400 donors and 16 sponsors, the Home Partnership Foundation’s Avenues for Hope campaign provided $317,469 in funding to 32 organizations across the state that help prevent homelessness. The CSP generated more than 5 million in private loans that created or retained 568 jobs throughout the state. Finally Home! Homebuyer Education graduated another 4,607 potential homeowners. IHFA hosted the 2015 Conference on Housing and Economic Development. IHFA receives the Best Places to Work in Idaho award for the sixth year in a row.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Finally Home! Homebuyer 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.
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.
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.
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.
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.
Idaho’s Family Self-Sufficiency Program begins as a cooperative effort between IHA and the Idaho Department of Health and Welfare.
IHA became the first housing finance agency to issue Commercial Paper an important short-term financing tool.
IHA makes its 20,000th home loan to a Nampa, Idaho family.
Governor Cecil Andrus signs SB 1091 increasing IHA’s bonding authority to $1.4 billion.
Mortgage Services Group formed to service IHA’s single-family mortgages in-house. IHA earns its own long-term general obligation credit rating 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.
Idaho Legislature approves an IHA bonding authority increase from $600 to $900 million.
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.
First Low-Income Housing Tax Credit issued for developments in Lewiston and Fruitland, Idaho.
Governor John V. Evans signs E.O. 86-30, designating IHA as Idaho’s Allocating Agency for Low-Income Housing Tax Credit.
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.
IHA’s bonding authority increases from $400 to $600 million through legislative approval.
First IHA-financed, nonsubsidized multifamily housing complex; a 115-unit retirement complex in Boise.
IHA initiates an Aggregated Exception System for its Single-Family Mortgage Loan Program, allowing staff to more closely monitor the Agency’s loan portfolio.
Congress passes the Mortgage Subsidy Bond Tax Act, which restricts the use of funds derived from tax-exempt Mortgage Revenue Bonds sales.
Legislation is approved increasing IHA’s bonding authority from $200 to $400 million.
IHA initiates the Home Improvement Loan Program.
IHA repays the Idaho Legislature’s 1976 appropriation in full. IHA introduces the Single-Family Mortgage Loan Program with $35 million in bonds.
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.
IHA requests and receives a $38,000 appropriation to keep its doors open. HUD authorizes IHA to administer the Section 8 Program in Idaho.
Idaho Supreme Court ratifies IHA’s ability to sell tax-exempt bonds and notes.
First IHA construction loan note to finance housing for the elderly.
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.
Idaho Legislature passes SB 1407, IHA’s (Idaho Housing Agency) enabling legislation.