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As a first-time homebuyer in Kootenai County, Idaho, you have several options to consider. Here are some suggestions to help you get started:
- Determine your budget: Before you start looking for homes, it’s important to determine how much you can afford to spend. You can use online mortgage calculators to estimate your monthly payments and get an idea of what you can afford.
- Get pre-approved for a mortgage: Getting pre-approved for a mortgage can help you determine how much you can borrow and give you an advantage when making an offer on a home.
- Find a good real estate agent: A good real estate agent can help you find the right home and guide you through the home buying process. The purchase of a home will end up being one of the largest financial decision that you’ve made to this point in your life, so having an agent available to advocate on your behalf is an invaluable benefit.
- Research available programs and grants: There are several programs and grants available to first-time homebuyers in Idaho. For example, Idaho Housing and Finance Association (IHFA) offers tax credits, competitive home loans, assistance with down payments, and home buyer education. The state also provides a First-Time Home Buyer Savings Account (FTHB account) that allows you to save for a first home while reducing the Idaho income tax you owe.
- Attend home buyer education courses: There are many first-time homebuyer classes available in our area.
