Oct. 23, 2018
Military Homeownership Assistance Program Wait List Instructions
As of October 23, 2018, all funding made available for the Military Homeownership Assistance Program (MHOA) for the fiscal year ending June 30, 2019 has been reserved. 

At this time, reservations for this program are on a wait list basis and grants will only be funded if and when a new appropriation is approved by the State Legislature. 
Wait List Reservations Must:

  • Be made through Lender Online under 304-MHOA-FY19 Wait List

  • Have an executed purchase agreement prior to reserving the MHOA grant, this is a program requirement

  • Have pre-close package submitted in accordance with current guidelines

Wait List Process:

  • IFA will review the file for eligibility and will provide correspondence regarding that review.

  • A down payment assistance commitment will NOT be issued until it has been determined that funds will be available. We will issue a Waiting List Confirmation notice. Do not close without this wait list confirmation.

  • Grant funds reserved after October 23, 2018, should not be applied at closing. 

  • If and when funds are available, eligible wait list applicants will be credited through a principal reduction for closed loans. For IFA loans serviced by Idaho Housing and Finance, the principal payment will be applied automatically. Non-IFA MHOA only transactions, each lender will be responsible for ensuring the principal reduction payment is made timely to the respective servicer. Again, this is only if and when funds are available.
We will provide updates as we have more information. Please contact the IFA Single-Family team, with any questions: 800.432.7230.
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