How Much Do I Need for a Down Payment?

Today's housing market has changed from recent years, and this affects home buyers in many ways. The requirement for a down payment is just one of those areas.

Historically, there have been programs that allow buyers to finance their down payment-- which essentially means you buy a house with no money down. While the programs today are different than these historical programs, there are other ways to reduce the down payment on your home. If you are looking for a no-money-down option, a rural housing loan may be your best choice. With this loan, you are limited to where you buy a home, but but you can avoid a large down payment (i.e. if you are willing to commute, this may be a good option).

If you qualify, another low down payment option is an FHA loan. With an FHA loan, you will only need to save 3.5% of your home's cost for a down payment.

While you will have to talk to a lender to find out if you qualify for either option, the lower down payment can make the initial purchase a much cheaper alternative to traditional loans. This way, you can buy your home much sooner than you would otherwise. It is important to note, however, that although these loans are less expensive to get into, the interest on the amount financed and the required mortgage insurance premiums will end up costing you more in the long run.

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Newest Boise Area Homes for Sale

$565,000

3 Beds ⋅ 2 Baths ⋅ 2,008 SqFt. ⋅ 0.14 Acres ⋅ 98995534 MLS

Welcome to this beautifully maintained single-level, 3 bed, 2 bath + Office home offering the perfect blend of comfort, style, & functionality! This thoughtfully designed home features a dedicated office with Fiber Internet, making it ideal for remote work, or can be used as a 4th bedroom. Upon entry, you're greeted by a wide, inviting hallway that leads into a bright, open-concept living space w/soaring vaulted ceilings, built in speakers, abundant recessed lighting, & brand new LVP flooring, base trim, & interior paint throughout the entire home. The spacious kitchen is the heart of the home, showcasing quartz countertops, a large island with breakfast bar, rich espresso cabinetry, stainless steel appliances, gas range, subway tile backsplash, walk-in pantry, & RO System at the Kitchen Sink. The split-bedroom floor plan offers privacy and the generous primary suite features a spa-like bath with dual vanities, quartz countertop, soaking tub, separate shower, & oversized walk-in closet. Laundry room provides a utility sink & extra cabinetry while the oversized 3-car garage provides epoxy flooring & ample space for vehicles & toys. Enjoy the low maintenance yard w/ a raspberry bush, covered front & back porch, & inviting curb appeal. Just 12 miles from Micron, this move-in-ready home combines modern finishes, spacious living, & an exceptional floor plan you'll love for years to come!

6296 S Ironwood Ave, Boise

$360,000

3 Beds ⋅ 1 Baths ⋅ 1,025 SqFt. ⋅ 0.42 Acres ⋅ 98995520 MLS

This is definitely a developer/flipper special with most of the value in the land. Large .42 acre lot offers a number of options for re-development. Current R1-B zoning may allow for splitting the lot, if house were torn down. Existing house is a bit rough, but might offer a unique opportunity to the right fixer/flipper. Unfinished basement has a separate exterior access which could potentially be used to add a second unit and the large lot offers plenty of room for an additional ADU. Please verify all with Boise City Planning and Zoning, agent/seller makes no guarantees regarding future uses.

2300 S Pond, Boise

$1,519,771

5 Beds ⋅ 6 Baths ⋅ 4,582 SqFt. ⋅ 0.43 Acres ⋅ 98995471 MLS

Set on nearly half an acre in the hills of Dry Creek Ranch, this Harrison home offers an RV garage and plenty of space. Inside, the open-concept layout centers around a vaulted great room with large windows that capture backyard views and natural light. The kitchen connects to the dining and great room, creating an easy flow for daily living. A flex room on the main level adds versatility for a second office, a den, or playroom. Upstairs, a spacious bonus room provides additional living space, while each bedroom features its own private bath and walk-in closet. Tucked away, the primary suite includes a large bath and walk-In closet. The Dry Creek Ranch Community Clubhouse spans five manicured acres, featuring sports courts, a pool, and a 8,840 sqft. clubhouse w/ state-of-the-art amenities. Located in the Eagle Foothills minutes from the best Idaho has to offer, including local dining, shopping, and outdoor recreation. Home is under construction with a January 2027 completion date. Photos Similar.

13731 N Spring Creek Way, Boise

$510,000

4 Beds ⋅ 2 Baths ⋅ 1,872 SqFt. ⋅ 1.22 Acres ⋅ 98995432 MLS

Welcome to your dream mountain escape in Wilderness Ranch! Unwind on the sweeping wraparound deck and soak in panoramic Idaho views. Situated ideally on the lower level of the ranch, just one mile from HWY 21, you'll enjoy rare, effortless year-round access to the front and back of the home via the circular drive. Inside, thoughtful updates shine throughout. The remodeled kitchen flows seamlessly into comfortable living spaces, complemented by a 2-year-new Daikin smart climate system with advanced humidity control. The main level offers two charming bedrooms, while the daylight walkout basement features a great room anchored by a wood-burning stove and two more generous bedrooms. Outside, embrace the mountain lifestyle with space to roam, take in the crisp air, and even gather fresh eggs from your ready-to-use custom chicken coop. A rare blend of mountain seclusion, modern upgrades, and easy accessibility, don't miss this opportunity to own a slice of heaven in the Idaho mountains.

37 Mores Creek Cir, Boise

$975,000

4 Beds ⋅ 3 Baths ⋅ 2,538 SqFt. ⋅ 0.22 Acres ⋅ 98995431 MLS

This beautiful, single-level is located in Cartwright Ranch and borders a common area with NO BACK NEIGHBORS and a beautifully landscaped backyard. The property features an open floor plan with abundant natural light, split bedrooms, and high ceilings. The kitchen is equipped with quartz and granite countertops, built-in Bosch appliances, and generous cabinetry. Also includes an oversized north-facing covered patio. A standout feature is the cedar-lined versatile studio/shop space, perfect for a home office, art studio, workshop, or hobby room. Additionally, the garage includes epoxied floors and a 9-foot-high door to accommodate larger vehicles or boats. Cartwright Ranch, which borders Hidden Springs, offers fantastic amenities, including parks, a community pool, clubhouse, fitness center, open green spaces, and direct access to the Ridge to Rivers trail system, all located just minutes from downtown Boise and Eagle

3254 W Miners Farm Dr, Boise

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