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

$364,000

3 Beds ⋅ 3 Baths ⋅ 1,285 SqFt. ⋅ 0.04 Acres ⋅ 99000648 MLS

Discover the charm of the Peachtree community, a serene neighborhood featuring groomed grounds and walking paths, a quiet pond, and a community pool. Situated in a prime location, you are just minutes from downtown Boise and the foothill trails. This home lives large with 3 bedrooms and 2.5 bathrooms. Complete with new stainless steel refrigerator, stove and dishwasher, washer and dryer. Breakfast bar, Cozy gas fireplace. Enjoy low-maintenance living, as the HOA dues cover all lawn care, snow removal, exterior maintenance, and the community pool. The HOA replaced the roof in (2018) the HVAC system was replaced in (2015).

5852 N Cobbler, Boise

$1,640,000

4 Beds ⋅ 4 Baths ⋅ 3,227 SqFt. ⋅ 0.24 Acres ⋅ 99000647 MLS

Some homes simply offer a place to live. This one offers a legacy. Set along Boise’s historic Warm Springs Avenue, this distinguished 1937 brick residence is a rare convergence of timeless architecture, modern comfort and remarkable versatility. The gracious main home offers 4 bedrooms, 3.5 baths, a finished basement, hardwood floors, a gas fireplace and beautifully composed spaces for both quiet mornings and memorable gatherings. Beyond the home, a fully fenced corner lot, mature gardens and geothermal water create a setting rich with character. A separate detached dwelling provides exceptional flexibility for future rental income, multigenerational living, private guest accommodations or a secluded studio. The ADU is currently occupied by a tenant who will vacate September 25. Complete with a two-car attached garage, no HOA and one of Boise’s most treasured historic addresses, this is more than a residence—it is an opportunity to own two distinct living spaces and an enduring piece of Boise history.

1120 E Warm Springs Ave, Boise

$549,900

3 Beds ⋅ 3 Baths ⋅ 1,999 SqFt. ⋅ 0.16 Acres ⋅ 99000642 MLS

Welcome to this beautifully maintained home in one of Northwest Boise's most desirable neighborhoods, where pride of ownership is evident throughout. Lovingly cared for and in exceptional condition, this custom home offers quality craftsmanship, thoughtful design, and modern finishes in a location that's hard to beat. Enjoy the freedom of no HOA while being just minutes from shopping, the Greenbelt, parks, and convenient access to Highway 55. The highly sought-after floor plan features all bedrooms upstairs, creating a functional separation between living and private spaces.The spacious kitchen is the heart of the home, showcasing a large center island, LG appliances, an oversized pantry, and abundant counter space perfect for entertaining or everyday living. Every bedroom has generous storage throughout. Additional highlights include dual-zone smart thermostats for year-round comfort, a fully insulated garage with a steel-backed garage door and ultra-quiet opener, automatic sprinklers, and a low-maintenance yard.

10386 W Shields Ave, Boise

$799,000

3 Beds ⋅ 3 Baths ⋅ 1,753 SqFt. ⋅ 0.07 Acres ⋅ 99000626 MLS

Newer construction in the heart of Boise's North End, just steps from Camel's Back Park, Highlands Hollow trail, and Hyde Park. A lush landscape welcomes you into an open-concept main floor built for easy living, with a brick fireplace, ample storage, shiplap accents, a white oak bar, and a built-in dining bench that make the space feel warm from day one. The kitchen delivers with crisp gray cabinetry, subway tile backsplash, quartz counters, and stainless appliances, all wrapped around a warm breakfast nook and walk in pantry. Upstairs, the primary suite offers its own private sitting area with room to unwind and tree top sunset views, while the secondary bedroom is flexible enough for a combined guest room home office. Just minutes from downtown Boise, this home blends walkable North End living with modern finishes throughout. The backyard has maintenance free xeriscape and raised garden beds with espalier fruit trees. Walk to coffee, Certified Bakery, and enjoy this low-maintenance haven.

2320 N 16th St, Boise

$674,900

4 Beds ⋅ 3 Baths ⋅ 2,102 SqFt. ⋅ 0.17 Acres ⋅ 99000621 MLS

Some homes simply feel special—and this beautifully appointed Hidden Springs residence captures the essence of relaxed, refined living. From the gracious wrap-around front porch to the light-filled interiors, every space feels welcoming, peaceful, and effortlessly livable. Gorgeous hardwood floors and sophisticated neutral hues create a timeless backdrop throughout the fabulous floorplan, where the great room provides a natural gathering place for both everyday moments and entertaining. The chef’s kitchen is designed to inspire, featuring a gas range and an inviting connection to the main living spaces. Retreat to the main-floor primary suite, complete with a spacious walk-in closet, while three additional bedrooms and 2½ baths offer exceptional flexibility. Outside, the large covered patio extends the living space and invites you to linger and enjoy the serene surroundings. A three-car tandem garage provides abundant storage for vehicles, recreation gear, and more. Just steps from the community pool and open space, this home offers an extraordinary lifestyle within Hidden Springs, where 900+ acres of preserved open space, abundant wildlife, trails, pools, farm, orchard, restaurant, coffee shop, library, schools, concerts, and community events create a true sense of place. And downtown Boise is just 15 minutes away. Open House Saturday, Sept. 12, 11 AM–12 PM & Sunday, Sept. 13, 12–1

4780 W Farm View Dr., Boise

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