Lower Mortgage Rates for Idaho’s Essential Workers
October 15, 2020 — We’ve seen what an important role essential workers in Idaho have played during the COVID-19 pandemic. Now, Idaho Housing and Finance Association is saying thank you by helping them save money with the Idaho Heroes Loan Program.
The program provides a special reduced mortgage rate available only to essential workers to help them buy a home. The limited special rate of 2.375% is available to nurses, firefighters, law enforcement, teachers, doctors, paramedics, retail workers, and current and former members of the military who meet the First Loan program requirements.
“We know how hard the past seven months have been for essential employees like first responders and teachers,” said Gerald M. Hunter, president of Idaho Housing and Finance Association. “We’d like to thank you by helping connect you to sustainable homeownership.”
The Idaho Heroes Loan Program, which uses no state or local tax dollars, is available only to homebuyers who are Idaho residents. Income limits apply to different counties. Buyers must also occupy the home for the first twelve months. People interested in using the program can work with any of Idaho Housing’s lending partners throughout the state. Simply ask your lender about this program, or you can be referred to a lender.
The Micron Foundation contributed $50,000 to the program to help provide down payment and closing cost assistance.
Idaho Housing and Finance Association is a unique, Idaho-based financial institution and provider of housing and economic development services. As an independent entity, it sustains its business operations through earned fees and revenues similar to any private financial institution.