When Tom and his wife, Faithann, found out they had to move out of their rental in St. Maries, they weren’t sure what to do next. With local rents rising fast, finding another affordable place to live felt overwhelming.
That’s when Faithann suggested something they hadn’t seriously considered—buying a home.
“I was pretty pessimistic,” Tom admits. “I didn’t think we’d get approved. We didn’t have a down payment.”
But with the help of a friend and a local lender, they discovered affordable loan programs available through Idaho Housing and Finance. With just 0.5% down, they found a home in St. Maries that fit their budget—and their future.
Homeownership didn’t just bring peace of mind. It brought real savings.
“I used some of our equity to pay off credit card debt,” Tom says. “But what really stands out is how much we’ve saved compared to renting. Our mortgage, including escrow, is $800 a month. That same rental would be $1,500 by now.” For Tom and Faithann, buying a home wasn’t just possible—it was one of the best financial decisions they’ve ever made.
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