This a good question for a lender, so Dave Clark with HomeStreet Bank offered these financing solutions for your situation: 


“Great question, and one I hear often.  First that comes to mind is USDA-RD!  This program is designed for zero down payment.  It has income limits, but helps people in more rural areas like ours. 


The second option is VA!  This is a way our national government supports those who have or are currently serving in the U.S. Armed Forces.  You or your spouse must be a veteran to participate. 


The third option is FHA!  They require a down payment of 3.5%, and is designed for lower income families.  This program has lower credit score requirements! 


The last option is a government assistance program like Idaho Housing and Finance Association.  They offer down payment and closing cost assistance coupled with the loan product; whether it’s FHA/VA/Conventional. 


Putting  less than 20% down there will be mortgage insurance or a guarantee.  With USDA and FHA these are included in your monthly payment amount for the life of the loan.”


This is good news for people with limited funds for a down payment and/or closing costs.  For all your real estate questions, please call me at 208-743-6575 or 509-758-8500.