Idaho First-Time Home Buyer Guide 2026
IHFA’s First Loan and down payment assistance explained side by side, with the full county-by-county First Loan income and sales price limits, the 26 targeted counties that waive the first-time buyer rule, and what qualifying actually requires.
IHFA First Loan for Idaho Buyers
The Idaho Housing and Finance Association’s tax-exempt First Loan is its first-time buyer mortgage. Buyers must be first-time homebuyers except in IHFA’s targeted counties, and the loan carries its own county income and sales price limits.
| Feature | First Loan (tax-exempt) | HFA Preferred |
|---|---|---|
| First-time buyer required | Yes, except in targeted counties | — |
| Income limit | County First Loan limits | $170,000 |
| Sales price limit | County First Loan limits | — |
| Down payment assistance available | Yes | Yes |
IHFA designates 26 of Idaho’s 44 counties as targeted. In those counties the first-time buyer requirement for First Loan does not apply. The full list is in the income limits table below.
IHFA Down Payment Assistance
IHFA’s assistance is a second mortgage that covers down payment, closing costs, or both. It is available to all eligible Idaho homebuyers, not just first-time buyers.
| Term | Detail |
|---|---|
| Assistance amount | Up to 8% of the lesser of the sales price or appraised value |
| Use | Down payment and/or closing costs |
| Form | Second mortgage repaid monthly with the first mortgage |
| Term | 15-year fixed |
| Interest rate | First mortgage rate plus 2.00% |
| Minimum buyer contribution | $500 of the buyer’s own funds |
| Household income | At or below $170,000 (some loan programs require lower) |
| Homebuyer education | Finally Home! required |
The assistance is a real second mortgage, not a grant. It carries a monthly payment, and that payment counts in your debt ratios. Factor it into what you can afford rather than treating the 8% as free money.
IHFA Income and Sales Price Limits in Idaho
Most IHFA home loan products share a single household income limit of $170,000 in every county. The tax-exempt First Loan is different: it has county-by-county income limits for 1–2 person and 3+ person households, and a county sales price limit. First Loan limits below are effective May 6, 2026.
| County | IHFA Status | First Loan Sales Price Limit | Income, 1–2 Person | Income, 3+ Persons |
|---|---|---|---|---|
| Ada | Non-targeted | $613,662 | $110,700 | $127,305 |
| Adams | Targeted | $692,211 | $121,920 | $142,240 |
| Bannock | Non-targeted | $566,354 | $101,600 | $116,840 |
| Bear Lake | Targeted | $692,211 | $121,920 | $142,240 |
| Benewah | Targeted | $692,211 | $121,920 | $142,240 |
| Bingham | Targeted | $692,211 | $121,920 | $142,240 |
| Blaine | Non-targeted | $794,151 | $130,200 | $151,900 |
| Boise | Targeted | $750,031 | $132,840 | $154,980 |
| Bonner | Targeted | $692,211 | $121,920 | $142,240 |
| Bonneville | Non-targeted | $566,354 | $101,600 | $116,840 |
| Boundary | Targeted | $692,211 | $121,920 | $142,240 |
| Butte | Non-targeted | $566,354 | $103,734 | $119,295 |
| Camas | Non-targeted | $794,151 | $107,640 | $125,580 |
| Canyon | Targeted | $750,031 | $132,840 | $154,980 |
| Caribou | Non-targeted | $566,354 | $103,734 | $119,295 |
| Cassia | Targeted | $692,211 | $121,920 | $142,240 |
| Clark | Targeted | $692,211 | $121,920 | $142,240 |
| Clearwater | Targeted | $692,211 | $121,920 | $142,240 |
| Custer | Targeted | $692,211 | $121,920 | $142,240 |
| Elmore | Non-targeted | $566,354 | $103,734 | $119,295 |
| Franklin | Non-targeted | $566,354 | $106,300 | $122,245 |
| Fremont | Non-targeted | $566,354 | $103,734 | $119,295 |
| Gem | Targeted | $750,031 | $121,920 | $142,240 |
| Gooding | Targeted | $692,211 | $121,920 | $142,240 |
| Idaho | Targeted | $692,211 | $121,920 | $142,240 |
| Jefferson | Targeted | $692,211 | $121,920 | $142,240 |
| Jerome | Targeted | $692,211 | $121,920 | $142,240 |
| Kootenai | Targeted | $732,383 | $124,200 | $144,900 |
| Latah | Non-targeted | $566,354 | $102,554 | $117,938 |
| Lemhi | Targeted | $692,211 | $121,920 | $142,240 |
| Lewis | Targeted | $692,211 | $121,920 | $142,240 |
| Lincoln | Targeted | $970,629 | $121,920 | $142,240 |
| Madison | Non-targeted | $566,354 | $103,734 | $119,295 |
| Minidoka | Non-targeted | $566,354 | $103,734 | $119,295 |
| Nez Perce | Non-targeted | $566,354 | $102,174 | $117,501 |
| Oneida | Targeted | $692,211 | $121,920 | $142,240 |
| Owyhee | Targeted | $750,031 | $132,840 | $154,980 |
| Payette | Targeted | $692,211 | $121,920 | $142,240 |
| Power | Non-targeted | $566,354 | $103,734 | $119,295 |
| Shoshone | Targeted | $692,211 | $121,920 | $142,240 |
| Teton | Non-targeted | $794,151 | $143,160 | $167,020 |
| Twin Falls | Non-targeted | $566,354 | $102,294 | $117,639 |
| Valley | Non-targeted | $643,743 | $116,474 | $133,945 |
| Washington | Targeted | $692,211 | $121,920 | $142,240 |
Limits are from IHFA’s income limits and sales price chart. Confirm your county and household size with the Idaho Housing and Finance Association before assuming you qualify.
Who Qualifies in Idaho
IHFA layers its own rules on top of whatever first mortgage you use. You have to clear both.
| Requirement | Detail |
|---|---|
| Residency | Must be an Idaho resident |
| Income | At or below $170,000, or the county First Loan limit for your household size |
| First-time buyer | Required for First Loan, except in targeted counties; not required for down payment assistance |
| Credit and employment | Acceptable credit and employment history |
| Homebuyer education | Finally Home! required when using IHFA down payment assistance |
| Lender | Through one of IHFA’s lending partners |
| Underlying loan | Conventional, Rural Development, FHA or VA |
Buying Your First Home in Idaho, Step by Step
| Step | What Happens |
|---|---|
| 1. Check the limits | Confirm your county’s First Loan income and sales price limits and whether it is a targeted county |
| 2. Choose a lending partner | IHFA loans are made through its lending partners, not by IHFA directly |
| 3. Complete Finally Home! | Required when you use IHFA down payment assistance |
| 4. Pick the loan | First Loan or HFA Preferred, with or without the assistance second |
| 5. Get pre-approved | The lender reviews your income, credit and employment history |
| 6. Make an offer and close | Close through your IHFA lending partner |
Run the numbers on the assistance second before you commit to it. Its rate is two points above your first mortgage and the payment counts against your debt ratios, so compare the monthly cost against saving a larger down payment.
