Second Mortgage

Second Mortgage es un segundo préstamo reembolsable para compradores de vivienda en Statewide, Idaho. The IHFA Second Mortgage Program is Idaho Housing's standard repayable down payment and closing-cost assistance product. It provides up to 7% of the lesser of sales price or appraised value as a 15-year amortizing second mortgage at the first-mortgage rate plus 2.00%, paired with a 30-year fixed-rate IHFA first mortgage (FHA, VA, USDA, or Conventional). Open to all qualifying Idaho homebuyers; no first-time-homebuyer requirement; income up to $170,000; minimum $500 borrower contribution; Finally Home! Homebuyer Education required. Repayable second-mortgage DPA of up to 7% of the lesser of sales price or appraised value, paired with an IHFA 30-year fixed-rate first mortgage. Funds may be used toward down payment AND/OR closing costs. Borrower contributes as little as $500 of their own funds. No first-time-homebuyer requirement. Income limit $170,000 statewide. Second mortgage repaid via small monthly payments alongside primary mortgage over a 15-year term. Second-mortgage rate = first-mortgage rate + 2.00%. Los fondos provienen de State, HFA y Bond.

Second Mortgage es un segundo préstamo reembolsable y se reembolsa según los términos que fija la agencia que administra el programa. El reembolso se activa por Monthly amortizing payments over 15 years alongside primary mortgage y balance due at sale, refinance, or non-occupancy. La ayuda se registra con un gravamen en posición 2nd Lien. Los términos de condonación y reembolso los fija el programa y pueden cambiar; confírmalos en la página oficial del programa antes de presentar la solicitud.

Second Mortgage está abierto a compradores de vivienda que vivirán en la vivienda como su residencia principal. Sobre el crédito, el programa indica: Minimum 620 FICO; 640+ may be required for some loan products. Se requiere un curso de educación para compradores de vivienda, a través de Finally Home! Homebuyer Education (IHFA's education program; required) - online or in-person; finallyhome.org. Requisito de residencia: Property must be located in Idaho and used as borrower's primary residence. Ciudadanía o situación migratoria: U.S. citizen or qualifying permanent/non-permanent resident alien per IHFA product overlays. Open to all qualifying Idaho homebuyers (no occupation restriction). Must be primary residence. Household income at or below $170,000 (some products require lower county-specific limits). Borrower contributes minimum $500 of own funds (loan transaction items qualify - earnest money, appraisal, inspection, education fees, flood insurance, etc.). Must complete Finally Home! Homebuyer Education prior to closing. Minimum 620 FICO (640+ for some products). Standard IHFA underwriting and product overlays apply.

Second Mortgage limita el ingreso del hogar a $170,000. El límite se aplica al ingreso total del hogar, no solo al del prestatario. Las cifras del ingreso mediano del área las publica HUD y se actualizan cada año, así que consulta la tabla vigente del condado antes de basarte en una cifra.

Second Mortgage limita el precio de compra así: No published statewide purchase price cap on second mortgage; first-mortgage product limits apply. Los tipos de propiedad elegibles incluyen Single-family detached, condominium, townhouse, PUD, 2-unit (per first-mortgage product), manufactured (per overlays). La construcción nueva es elegible. Las viviendas prefabricadas son elegibles.

Second Mortgage atiende a compradores de vivienda que compran en Statewide, Idaho. El programa se dirige a áreas específicas: IHFA designates federally qualified target areas with relaxed first-time homebuyer and income limits; see IHFA Lender Connection for current target-area census tracts.

Las solicitudes de Second Mortgage se tramitan a través de la agencia que administra el programa, que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Los fondos se reservan a través de Loan officer reserves funds via Idaho Housing's Lender Connection portal at time of loan locking; subject to bond/program funding availability. Hey Prescott no es un prestamista y no acepta solicitudes; esta página describe el programa para que un comprador de vivienda pueda llevarlo a un prestamista o a un asesor de vivienda.