There are 3 Great Idaho First-Time Home Buyer Mortgage Loans that I recommend to my clients looking to purchase a home.
With lots of different loan programs on the market it can be difficult to understand and differentiate between programs. I have three loan programs I use with my First-Time Home Buyers. Every borrower has different needs and goals when it comes to purchasing a home and between these three programs I usually find the right fit.
Many First-Time Home Buyers would prefer to put as small of a down payment as possible when purchasing a home. I have two loan programs where you can still get 100% financing and those are the IHFA 100% Zero down loan and the USDA Rural Development loan. Both of these loans have different stipulations so click on the links to learn about these two zero down loans. The other loan that is great for First-Time Home Buyers is a standard FHA loan. With an FHA mortgage you need to put down 3.5% however one of the nice things about this loan is if a qualified family member gifts you the 3.5% down payment you can use that. Also with an FHA Mortgage a borrower who may not qualify for a property on their own can have what is called a non-occupant co-borrower. A non-occupant co-borrower can be a family member such as a parent who will co-sign on the loan with the borrower without planning on living in the property. This is often nice because there are many unqualified borrowers (ex. Students etc) out there who can often times get into a home with the help of a non-occupant co-borrower.
If you or anyone you know has questions about purchasing a home please don’t hesitate to contact me with your questions.
Andy Radke
Hyperion Capital Group
Mortgage Consultant
Direct: 208-859-5825
LoanswithAndy@gmail.com
Top 10 Boise Idaho Mortgage Links/Articles/Questions
1. Idaho IHFA & USDA Rural Development Zero Down Home Loans
2. Boise, Idaho $8,000 First-Time Home Buyer Tax Credit
3. Idaho FHA Reverse Mortgage
4. Can I use my $8,000 First-Time Home Buyer Tax Credit as a down payment
5. Idaho VA 100% Home Financing Loans for Boise and Mountain Home Areas
6. Jumbo Mortgage Financing for Boise, Idaho Properties
7. Conventional Home Loans For Boise Idaho Borrowers
8. VA Mortgage Loans in Boise Idaho
9. Boise Idaho Reverse Mortgage Senior Loans
10. Boise Idaho 203k Rehab Mortgage Loans
