Buyer Information

See if you qualify

1. Find your annual gross household income in this table:

  • One person between $23,650 & $37,800
  • Two people between $27,000 & $43,200
  • Three people between $30,400 & 48,600
  • Four people between $33,750 & $54,000

(Households larger than 4, see this page.)

2. Do you have $500 for a down payment?

3. Can you qualify for a home mortgage? (visit one of these Lenders)

About the Program

Moscow Affordable Housing Trust uses federal HOME funds to create affordable home ownership opportunities by rehabilitating houses or constructing new ones.

Buyers may choose from standard lending programs (FHA, VA, Conventional, USDA-RD) offered by an IHFA approved Lender/Broker/Sponsor.

Houses are sold via the local real estate market at fair market value, there is no need to apply to the Moscow Affordable Housing Trust. Have your real estate agent review our site for information about making an offer. Buyers, agents and lenders are strongly encouraged to arrange a meeting to review the program with MAHT and our agent, Debbie Spurgeon at Team Idaho Real Estate.

[Program Requirements]

Your next steps

  1. Choose a lender who works with IHFA.
  2. Have your lender review this page to help you prepare.
  3. Get prequalified for a mortgage and know your buying power.
  4. Find a real estate agent to help you and have them review this information
  5. Read and agree to other HOME Program requirements

Making an Offer to Purchase a MAHT house

Prior to making an offer agents are strongly encouraged to contact our agent, Debbie Spurgeon at Team Idaho Real Estate for guidance with additional required materials.

Prior to the meeting, review these pages: Lender Information and Realtor Offer Worksheet.

Homebuyer Education & Counseling Required

Participants in the HOME program are required by IHFA to complete the Finally HOME! course and get 2 hours of 1-1 counseling.

[Counseling Flyer]

You will receive a certificate of completion from the Finally HOME course. A copy must be provided to your lender. In addition to meeting the HOME program requirement, the course may qualify you for discounts from your lender.

Resources

What can you afford?

Try this Loan Calculator. NOTE: Loan calculators don't take into private mortgage insurance that the lender will require or property taxes. These costs must be considered in addition to the monthly payment on the loan. Visiting a mortgage lender can help you get a better picture of your true buying power.

Credit & Budgeting.

University of Idaho Extension offers several short-courses on establishing credit, paying down debt, building your credit score, and basic financial planning which could help a family be more ready to decide to purchase, see this page.

Buying Process.

You can learn more about all aspects of buying a home through Idaho Housing Finance Association's class Finally Home!® Classes are offered in person and online, see their Frequently Asked Questions (pdf).