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NeighborWorks Pocatello Down Payment Assistance

Pocatello, Idaho

Last verified
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Income limit

$170,000

The household income limit the program publishes

Repayment

Grant

Not repaid

What is NeighborWorks Pocatello Down Payment Assistance?

NeighborWorks Pocatello Down Payment Assistance is a grant for homebuyers in Pocatello, Idaho.

  • NeighborWorks Pocatello (NWP) - a NeighborWorks America-chartered CDFI Community Development Corporation - provides repayable secondary down payment and closing-cost assistance loans to homebuyers purchasing 1-4 unit owner-occupied properties in 11 Eastern/Southeastern Idaho counties (Bannock, Bear Lake, Bingham, Bonneville, Caribou, Franklin, Jefferson, Oneida, Fremont, Madison, Power). Open to non-first-time homebuyers. Income limit $170,000; liquid assets under $25,000; minimum $500 borrower contribution; maximum 50% DTI; no late payments in last 12 months. Mandatory NWP HomeBuyer Education class.
  • NeighborWorks Pocatello (a CDFI / NeighborWorks America chartered Community Development Corporation) offers a repayable secondary down payment and closing-cost assistance loan to homebuyers in 11 Eastern/Southeastern Idaho counties. Borrower contributes only $500 of their own funds (earnest money satisfies). NOT a first-time-homebuyer-only program. Loan can cover closing costs but cannot satisfy the FHA 3.5% minimum borrower investment. Mandatory NWP HomeBuyer Education class. Maximum DTI 50%. No late payments in last 12 months. Liquid assets must be under $25,000 at closing.
  • Funding comes from Nonprofit, CDFI, NeighborWorks, and Local.

Do you have to pay it back?

NeighborWorks Pocatello Down Payment Assistance is structured as a grant, so it is not repaid.

  • Repayment is triggered by Monthly amortizing payments and balance due at sale, refinance, or non-occupancy.
  • The assistance is recorded in 2nd Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

NeighborWorks Pocatello Down Payment Assistance is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • On credit: Per NWP and primary lender underwriting; no late payments in last 12 months
  • A completed homebuyer education course, through NeighborWorks Pocatello HomeBuyer Education class (in-person or via eHomeAmerica online: ehomeamerica.org/nwpocatello)
  • Residency: Property must be in one of 11 NWP-eligible counties (Bannock, Bear Lake, Bingham, Bonneville, Caribou, Franklin, Jefferson, Oneida, Fremont, Madison, or Power) and used as borrower's primary residence (1-4 unit owner-occupied)
  • Citizenship or immigration status: U.S. citizen or qualifying non-citizen with eligible immigration status
  • Property must be located in one of 11 Eastern/Southeastern Idaho counties: Bannock, Bear Lake, Bingham, Bonneville, Caribou, Franklin, Jefferson, Oneida, Fremont, Madison, or Power. Household income limited to $170,000. Liquid assets must be less than $25,000 at the time of closing. Borrower does NOT have to be first-time homebuyer. Must complete NeighborWorks Pocatello HomeBuyer Education class. Borrower must contribute $500 of their own money (earnest money can satisfy this). DTI maximum 50%. No late payments in last 12 months. Property must be 1-4 unit owner-occupied. NOTE: Loan will not satisfy FHA's 3.5% minimum borrower down payment requirement, but may be applied to closing costs on FHA loans.

The program excludes

  • Households above $170,000

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

NeighborWorks Pocatello Down Payment Assistance limits household income to $170,000.

  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

NeighborWorks Pocatello Down Payment Assistance caps the purchase price as follows: Per first-mortgage product overlays; no published NWP cap.

  • Eligible property types include 1-4 unit owner-occupied residential property (single-family, duplex, triplex, fourplex).
  • New construction is eligible.
  • Manufactured homes are eligible.

Where does it apply?

NeighborWorks Pocatello Down Payment Assistance serves buyers purchasing in Pocatello, Idaho.

How do you apply?

Applications for NeighborWorks Pocatello Down Payment Assistance go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through NeighborWorks Pocatello HomeBuyer Education class (in-person or via eHomeAmerica online: ehomeamerica.org/nwpocatello).

  2. Contact the administering agency to reserve funds

    Funds are reserved through Direct application to NeighborWorks Pocatello at 208-232-9468; restrictions apply per office consultation, and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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