IHFA Tax-Exempt VA Targeted
Best For: First Time Homebuyers, Lowest Rates
VA program from IHFA for homebuyers in targeted Idaho Counties with below market interest rates and up to 2% in credits toward costs.
This loan program is not available in Greenville, SC
Program Description
The Tax-Exempt VA loan program from Idaho Housing (IHFA) for Idaho Veterans and active-duty military can be combined with an optional credit of either 1% or 2% to help offset costs. "Tax-Exempt" mortgages are a type of bond an organization can offer that are exempt from Federal and other taxes, which results in a lower interest rate for the borrower. Property must be located in a targeted Idaho County in order to use this program.
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IHFA Tax-Exempt VA Targeted
Min. Credit Score
620
Min. Down Payment
0%
Max Loan Amount
$726,200
Qualification variables shown here are for 1-Unit Primary Residences, and loan amount ranges vary based on US County. Register Now to see if this loan program is a good fit for you, find your county limits, and find more options for purchasing a home.
Pros & Cons
- 2% of the first loan amount is available in assistance
- Available in targeted Idaho Counties
- Allows up to 50% DTI (Debt-to-Income)
- No mortgage insurance
- Must meet program guidelines
- Income and purchase price limits apply
- Requires the VA Funding Fee
- No multi-family properties allowed
Program Availability
IHFA Tax-Exempt VA Targeteds are available in 1 state.
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“You should check out IHFA's low rate tax-exempt mortgage options if you're buying a home in a targeted county and you meet the purchase price and income limits"
Occupancy & Property Types
Qualification factors for this program can vary based on how you intend to occupy the property and what type of property you are purchasing. By registering for a free account , you can check program limits for all property and occupancy types.
Occupancy Types
Available Property Types for Primary Residence
Income & Purchase Price Limits
Your Debt-to-Income Ratio (DTI), as well as purchase price and income limits, are important factors when qualifying for a home loan program. By registering for a free account , you can find the exact program limits for this program and others in your area and for your unique scenario.
Debt-to-Income Limit
50.00%
Purchase Price Limit
$349,000 - $985,000
Income Limit
$79,899 - $102,480
Annual Household (1-2) Income
Qualification variables shown here are for 1-Unit Primary Residences, and loan limit ranges vary based on US County. Amounts may be rounded. Exact amounts can be accessed by registering for a free account.
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Key Features
- Tax-Exempt VA loan program option from IHFA with below market rates
- Can be combined with either 1% or 2% in credits to offset costs
- Property must be located in a targeted Idaho County
Additional Conditions
- Buyers must meet program guidelines, complete homebuyer education courses, occupy the property as a primary residence, and not exceed the income limits.
- Tax-Exempt mortgages are subject Federal Recapture Tax rules and additional documents and disclosures.
Other Limitations
In some circumstances, there are specific requirements you must meet or homebuyer education courses you must attend in order to be eligible for the loan program.
No other program limitations
A Homebuyer Education Class is required for this loan program.
Class Name: Finally Home!® Homebuyer Education Program
Finally Home!® is IHFA's homebuyer education program designed to help potential homebuyers understand the process and make informed decisions. The program covers topics such as home affordability, financing options, and the home-buying process. The course costs $70, with discounts available. There are online and in-person options available. The course is required for at least one borrower.
Mortgage Insurance & Fees
Most mortgage programs require mortgage insurance when you are financing more than 80% of the purchase price or appraised value. Some programs may also have an associated funding fee, paid at the time of closing, or an annual fee. Learn all about the different fees here.
No Mortgage Insurance
This program does not require Private Mortgage Insurance (PMI).
Type: VA Funding Fee
The VA Funding Fee, which ranges between 1.25% - 3.3% of the loan amount, is charged on all VA loans unless the veteran has been entitled 10% or greater in disability.
Type: No Annual Fee
This program does not have an annual fee.
Estimated Closing Costs: 2.5%
These amounts are just an estimate. Your closing costs include things like loan origination fees, discount points, appraisal fees, title insurance, taxes, deed recording fees, and other charges.
Similar Loan Programs
If you think this home loan program may be a good fit for you, you may also want to check out the following programs that share many similarities with the current program.
IHFA Tax-Exempt FHA Targeted
Best For: First Time Homebuyers, Lowest Rates
Tax-exempt FHA program for Idaho homebuyers in targeted Idaho Counties with below market interest rates and down payment assistance options.
IHFA Tax-Exempt Conventional Targeted Med Income
Best For: First Time Homebuyers, Lowest Rates
Conventional tax-exempt option with below market rates and assistance options for homebuyers with incomes above 80% AMI in targeted Idaho Counties.
Related Resources
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VA Loan Guide
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Veterans Administration Mortgage Loans in 2025: A Comprehensive Guide
The Veterans Administration (VA) mortgage loan remains one of the most valuable benefits provided to those who serve. Since its inception, the VA home loan program has helped millions of veterans achieve homeownership. With VA loans offering attractive benefits such as no down payment and competitive interest rates, 2025 is an excellent time for veterans to leverage this powerful tool to secure their dream home.
Read MoreVisit our Mortgage Education Center for more resources.
* Some loan programs may not be offered by all featured lenders of ReviewMyMortgage.com and qualification guidelines may vary between them. Our team makes their best effort to keep loan program information up to date. Loan programs may change without warning. ReviewMyMortgage.com does not guarantee or offer any loan products. ReviewMyMortgage.com is strictly an educational resource hub for consumers
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