What is the Idaho Housing and Finance Association (IHFA)?

The Idaho Housing and Finance Association (IHFA) is a quasi-governmental agency that was created in 1971 to address the affordable housing needs of Idahoans. Since its inception, the IHFA has worked to provide affordable housing options to low and moderate-income individuals and families, as well as to promote economic development and revitalization in the state.

The IHFA is governed by a nine-member board of directors, which includes representatives from the Idaho Governor's Office, the Idaho State Legislature, and the general public. The organization is funded through a variety of sources, including federal grants, state appropriations, and revenue generated through its own programs and initiatives.

One of the main ways the IHFA works to address the affordable housing needs of Idahoans is through the development and management of rental properties. The IHFA currently owns and operates more than 9,000 units of affordable housing in communities throughout the state, with a focus on serving families, seniors, and individuals with special needs. In addition to traditional apartment buildings, the IHFA also operates a number of single-family homes, townhomes, and duplexes.

In addition to developing and managing its own rental properties, the IHFA also works to provide affordable housing options through partnerships with private developers and non-profit organizations. These partnerships allow the IHFA to leverage its resources and expertise to create and preserve affordable housing in a variety of settings, including rural and urban areas.

Another key aspect of the IHFA's work is its role in providing financing options for affordable housing projects. The organization offers a range of financing programs and incentives, including low-interest loans, tax credits, and grants, to help developers and non-profits create and maintain affordable housing units. These financing options are available to both new construction projects and the rehabilitation of existing properties.

In addition to its work in the realm of affordable housing, the IHFA also has a number of programs and initiatives aimed at promoting economic development and revitalization in Idaho. This includes efforts to support small businesses, encourage economic growth in rural areas, and support workforce development initiatives.

One example of the IHFA's economic development efforts is its Small Business Loan Program, which provides financing options to small businesses in the form of low-interest loans and lines of credit. This program helps small businesses grow and create jobs in their communities, which in turn helps to strengthen the overall economy of the state.

Another example is the IHFA's Rural Development Initiative, which aims to promote economic growth in Idaho's rural areas through a variety of programs and initiatives. This includes providing financing options for businesses and organizations that are working to revitalize rural communities, as well as supporting workforce development initiatives and other efforts to strengthen the local economy.

Overall, the Idaho Housing and Finance Association plays a vital role in addressing the affordable housing needs of Idahoans and promoting economic development and revitalization throughout the state. With a focus on creating and preserving affordable housing units, providing financing options for affordable housing projects, and supporting economic growth in both urban and rural areas, the IHFA is a key player in the effort to build strong and vibrant communities throughout Idaho.

What programs are offered by IHFA?

The Idaho Housing and Finance Association (IHFA) offers a range of programs and initiatives aimed at addressing the affordable housing needs of Idahoans and promoting economic development and revitalization throughout the state. Some of the specific programs and initiatives offered by the IHFA include:

• Rental properties: The IHFA owns and operates more than 9,000 units of affordable housing in communities throughout the state, including traditional apartment buildings, single-family homes, townhomes, and duplexes. These properties are available to low and moderate-income individuals and families, with a focus on serving families, seniors, and individuals with special needs.
• Financing programs: The IHFA offers a range of financing options to help developers and non-profit organizations create and maintain affordable housing units. These options include low-interest loans, tax credits, and grants, and are available for both new construction projects and the rehabilitation of existing properties.
  
  
• Small Business Loan Program: This program provides financing options to small businesses in the form of low-interest loans and lines of credit. It is designed to help small businesses grow and create jobs in their communities, which in turn helps to strengthen the overall economy of the state.
  
  
• Rural Development Initiative: This initiative aims to promote economic growth in Idaho's rural areas through a variety of programs and initiatives. This includes providing financing options for businesses and organizations that are working to revitalize rural communities, as well as supporting workforce development initiatives and other efforts to strengthen the local economy.
  
  
• Homeownership Programs: The IHFA offers a number of programs and initiatives to help Idahoans achieve the dream of homeownership. These include down payment and closing cost assistance, mortgage financing options, and homebuyer education and counseling.
  
  
• Energy Conservation Programs: The IHFA has a number of programs and initiatives aimed at improving the energy efficiency of homes and buildings in Idaho. These programs provide funding and incentives for energy-efficient upgrades and improvements, which can help reduce energy costs and improve the overall sustainability of the state.
  
  
• Workforce Development Programs: The IHFA supports a number of initiatives aimed at helping Idahoans develop the skills and knowledge needed to succeed in the workforce. This includes job training programs, apprenticeship opportunities, and other efforts to support workforce development and career advancement.

In addition to the programs  mentioned earlier, the Idaho Housing and Finance Association (IHFA) also offers a number of other initiatives and services to support affordable housing and economic development in the state. Some examples of these programs include:

• Affordable Housing Tax Credit Program: This program provides tax credits to developers and non-profit organizations that create or preserve affordable housing units in Idaho. The tax credits are intended to help offset the costs associated with developing and maintaining affordable housing, and are a key part of the IHFA's efforts to create and preserve affordable housing options throughout the state.
  
  
• Home Improvement Programs: The IHFA offers a number of programs and initiatives to help Idaho homeowners make repairs and improvements to their homes. These programs provide funding and other resources to help homeowners make necessary repairs, improve energy efficiency, and make other improvements to their homes.
  
  
• Multifamily Loan Program: This program provides financing options to developers and non-profit organizations working to create or preserve multifamily housing units in Idaho. The program offers a variety of loan products and other financing options to help developers and non-profits create and maintain affordable housing units for families, seniors, and individuals with special needs.
  
  
• Community Development Block Grant (CDBG) Program: The IHFA administers the CDBG program in Idaho, which provides funding to cities and counties for a variety of community development projects. The program is intended to support the development of affordable housing, improve infrastructure, and promote economic development in low and moderate-income communities.
  
  
• Foreclosure Prevention Programs: The IHFA offers a number of programs and initiatives to help Idaho homeowners facing the threat of foreclosure. These programs provide resources and assistance to help homeowners avoid foreclosure, including mortgage counseling and other financial assistance.

Overall, the Idaho Housing and Finance Association is a multifaceted organization that offers a wide range of programs and initiatives to support affordable housing and economic development in the state. Through its various programs and services, the IHFA works to address the housing needs of Idahoans, promote economic growth and revitalization, and build strong and vibrant communities throughout the state.

How can I get help from IHFA buying a house?

If you are looking for assistance with purchasing a home in Idaho, the Idaho Housing and Finance Association (IHFA) offers a number of programs and initiatives that may be able to help. Some specific options for homebuyer assistance include:

• Down Payment and Closing Cost Assistance: The IHFA offers a variety of programs that provide financial assistance to help with the down payment and closing costs associated with purchasing a home. These programs may be available to first-time homebuyers, low- and moderate-income individuals and families, and other eligible borrowers.
  
  
• Mortgage Financing Options: The IHFA offers a range of mortgage financing options to help Idahoans purchase a home. These options include conventional loans, Federal Housing Administration (FHA) loans, and Veterans Affairs (VA) loans, among others. These loans may be available at competitive interest rates and with a variety of terms and conditions to meet the needs of different borrowers.
  
  
• Homebuyer Education and Counseling: The IHFA offers homebuyer education and counseling programs to help Idahoans understand the process of purchasing a home and make informed decisions. These programs may cover topics such as budgeting, credit and financing, and the homebuying process.

To learn more about the homebuyer assistance programs available through the IHFA and determine your eligibility, you can visit the organization's website at www.idahohousing.com or contact their customer service team at (208) 331-7200. You can also contact a participating lender or housing counseling agency in your area for more information and assistance.