Bonners Ferry Local Guide including all of Boundary County Idaho

Idaho Housing sets lower interest rate on 30-year mortgages

Friday, December 8, 2006; IDST

Idaho Housing and Finance Association this week unveiled a new 5.32 percent fixed interest rate on its 30-year mortgage loans. Borrowers may also qualify for up to $10,000 in down payment or closing cost assistance. The new rate will save $26,701 over the 30-year life of the loan on a $150,000 home, compared with a 6.1 percent rate. The savings jump to $33,604 on a $200,000 home. Potential homebuyers can complete an initial online application at www.idamortgage.com to find out if they meet initial IHFA requirements and receive a referral to a local IHFA participating loan officer, who will assist borrowers in continuing the home application process. Application information also is available at (866) 432-4066. IHFA partners with 50 participating lenders at nearly 150 bank branches statewide to offer its below-market interest rates. - Full Story