Idaho NSP Homeownership Assistance 20% down payment assistance program is a deferred Payment Loan and is due on the sale of the property. This zero interest loan is for foreclosures only (no short sales) !
The main details for this loan are below:
- Homeownership assistance provides funds for closing costs, interest write downs, and principal write downs
- Home must be a foreclosure (no short sales) and the bank must be willing to discount the property by 1% from the appraised value
- Borrowers income must be 120% or below area median income
- NSP home ownership assistance can provide up to 20% of the sales price in assistance, not to exceed $40,000 and based on need. This loan is in the form of a zero percent (0%) deferred loan due on the sale of the property.
- The borrower must complete the Finally Home! home buyer education course.
If you have questions about the Idaho NSP Homeownership down payment program I would be happy to answer any questions you may have.
Andy Radke
Mortgage West
Senior Mortgage Consultant
Direct: 208-859-5825
Loanswithandy@gmail.com
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