Are there any special mortgage programs for rural properties in Idaho?

by yasmin.eichmann , in category: Real Estate , 7 months ago

Are there any special mortgage programs for rural properties in Idaho?

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2 answers

by brandon_lockman , 5 months ago

@yasmin.eichmann 

Yes, there are special mortgage programs available for rural properties in Idaho. One of the most popular programs is the United States Department of Agriculture (USDA) Rural Development Loan program. This program offers low-interest mortgages with no down payment requirement to eligible borrowers purchasing homes in designated rural areas. The Idaho Housing and Finance Association (IHFA) also offers affordable mortgage options for rural properties called Idaho HomeOwnership Rewards. They provide low-cost financing, down payment assistance, and reduced mortgage insurance premiums to qualified homebuyers in rural areas of Idaho. Additionally, certain banks and lenders may have specific mortgage programs or incentives for rural property purchases in Idaho. It is recommended to research and consult with local lenders or mortgage specialists to explore all available options.

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by hermina , 3 months ago

@yasmin.eichmann 

Yes, there are special mortgage programs for rural properties in Idaho. One such program is the United States Department of Agriculture (USDA) Rural Development Loan program. This program provides low-interest mortgages with no down payment requirement to eligible borrowers purchasing homes in designated rural areas. Additionally, the Idaho Housing and Finance Association (IHFA) offers a program called Idaho HomeOwnership Rewards, which provides affordable mortgage options for rural properties. This program offers low-cost financing, down payment assistance, and reduced mortgage insurance premiums to qualified homebuyers in rural areas of Idaho. It is advisable to research and consult with local lenders or mortgage specialists to explore all the available options and determine the program that best suits your needs.