First-time home buyer programs in Idaho and Boise

What does Idaho Housing offer?

Idaho Housing is the state’s housing finance agency. It offers first mortgages and down payment help through lenders it has approved. Its website lists these loan types: conventional, FHA, loans for veterans and Rural Development loans, for single-family homes, townhouses, condos and manufactured homes.

Down payment assistance. Idaho Housing says the program provides up to 8% of the sales price toward the down payment and/or closing costs. The money is loaned to you as a second mortgage, repaid through small monthly payments alongside your main mortgage, so your monthly cost goes up slightly. You must contribute at least $500 of your own funds toward the “loan transaction”, which Idaho Housing says can include earnest money, the appraisal, the home inspection, the education course fee and flood insurance. The help is not limited to first-time buyers.

Idaho Housing’s own example: on a $400,000 home with a conventional loan, the minimum 3% down payment is $12,000. With assistance, you would provide $500. At 8%, the maximum help on that price would be $32,000 (our calculation).

Education and approved lenders. Idaho Housing requires its Finally Home! homebuyer education course when you use its down payment help, when you are a first-time borrower using Fannie Mae or Freddie Mac HFA products, or when underwriting requires it. It defines a first-time buyer as someone who has not owned and occupied a primary residence in the last three years. To use its loans and assistance, you must work with a lender Idaho Housing has approved.

Mortgage credit certificate. Idaho Housing’s lender FAQ describes its MCC (tax credit) program as “currently suspended” as of our reading. Ask a lender whether it has reopened.

Who qualifies: income and price limits in Ada County

Source: Idaho Housing, Income Limits and Sales Price chart, Rev. 6-03-26. The price limit applies to the tax-exempt first loan and has been effective since May 6, 2026. The $170,000 limit is listed for all other loan products. Idaho Housing also requires an acceptable credit and employment history and Idaho residency.

For comparison, the Census Bureau puts the median home value in the city of Boise at $498,500 and in Ada County at $541,300 (ACS 2024; see home prices in Idaho and Boise). Both are below the $613,662 price limit.

What does the City of Boise add?

The City’s Homeownership Opportunity Program (HOP) helps buyers purchase a home inside Boise city limits. It is paid for with federal HUD grant funds. According to the City’s policy (revised February 20, 2025):

• Income: gross household income between 50% and 80% of area median income. The City’s 2026 guidelines, effective June 1, 2026, set the 80% limit at $62,000 for one person, $70,960 for two and $88,550 for four, and the 50% limit at $38,750, $44,300 and $55,350.
• Amount: up to $45,000 for a standard home, toward the down payment, closing costs and direct financing that lowers your first mortgage. Up to $65,000 for a home on community land trust land or under a long-term deed restriction. The City reviews the maximum amount each October.
• Form: a deferred mortgage behind your first loan. At sale or transfer you repay the original amount multiplied by how much the price has risen, capped at the net proceeds of the sale.
• Your share: at least 0.5% of the price, and savings after closing equal to at least two monthly payments.
• Conditions: a 30-year fixed first mortgage, a homebuyer education certificate (Finally Home! or another HUD-approved course), and living in the home as your primary residence.

The City accepts applications only through two partner organizations listed on the City’s page, which provide the required counseling and help arrange the first mortgage. The City’s pages do not say whether funds are available at a given moment, so ask a partner first.

Two other City and local options exist. The City’s Home Improvement Program offers repair loans to owners under 80% of area median income. The Boise City/Ada County Housing Authorities run a voucher homeownership option, limited to families who have been in their voucher and Family Self-Sufficiency programs for at least a year.

How to apply

1. Check your credit and budget. Idaho Housing’s site says a score of 620 or more is typically beneficial.
2. Take the Finally Home! course, or book free one-on-one pre-purchase advice from Idaho Housing, a HUD-approved counseling agency.
3. Choose an approved lender for Idaho Housing, or a HOP partner for the City program.
4. Ask for your Loan Estimate, then compare it with the Closing Disclosure. Our guides to closing costs in Idaho and the steps of buying a home explain both.

Idaho Housing’s loan types include FHA and veterans’ loans; see our guides to FHA loans and VA loans. For the city itself, read buying a home in Boise.