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No, I don't think we'll see another tax credit, but I also think that there are plenty of options for first-time buyers to get into a home with very little down and that a tax credit isn't really needed to make home buying within reach. For example, Idaho Housing and Finance has a Good Credit Rewards second loan that piggy backs with FHA's 96.5% financing to offer 100% financing for those with good credit. Many sellers will pay a certain percentage of buyer closing costs so I've definitely had clients get into a home with $500 earnest money. Some people will argue that this was what made our market crash in the first place and that 100% financing is a mistake, but the numbers really don't hold that out. Well-qualified buyers with strong employment and credit have very low default rates. Anyways... my point is that even without tax credits, homeownership is within reach and prices have come down enough to more than offset the lack of a tax credit. Plus, rents are getting so high that buying really makes sense for a lot of people.
Right, roseville lover, that would be a rural development (RD) loan and those can work in several communities in the Boise/Meridian area.
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