Idaho is a Pacific Northwest state known for a rich outdoor lifestyle and beautiful landscape. Home prices in many of the hottest spots have increased at a double digit pace in each of the last few years. According to Real Estate Magazine (rismedia.com) it is harder to purchase a home today that it was just a couple years back. Rising taxes, mortgage rates and home prices has caused affordability to drop. But don't fret, here are a few options to making buying a home a little easier.

Idaho Housing Finance Corporation

The Idaho Housing Finance Corporation (ihfa.org) is a non-profit financial firm that works as a agent of the Housing and Urban Development Department (hud.gov). They provide loans and information for low income, sub-prime and first time homebuyers. The mortgage products they offer include:

• Low Down Payment Conventional Loan

• FHA fixed and adjustable rate

• VA Loan for veterans

• RD Loan for rural builders

County and city programs

Boise, Canyon County and Idaho Falls are just a couple of the Idaho cities that administer home lending programs. For example the Mercy Housing Idaho is a construction lender with local branches in Eagle, Moscow and Twin Falls

Information on local programs can be found at your city hall.

Federal government

The Federal Government runs a number of homeownership assistance programs. HUD oversees many initiatives such as the American Dream Downpayment Initiative, a grant program for first-time low income buyers.

The 'Government Sponsored Organizations' Freddie Mac (freddiemac.com) and Fannie Mae (fanniemae.com) provide loans through banks, credit unions and mortgage firms. In an effort to fight homeownership barriers, the agencies have launched a couple assistance programs in the last few years. The 'Expanded Approval' program for sub-prime borrowers is a great example.

For more information visit www.hud.gov or www.ihfa.org.