Be Prepared for When the Right House Comes Along
You’ll never regret planning and saving now. With an Idaho First-Time Homebuyer Savings Account, Idaho residents can contribute up to $15,000, or $30,000 for married couples filing jointly per calendar year. With a maximum of $100,000 of total deposits allowed for the lifetime of the account, you’ll be well on your way to saving for that first home.
Benefits & Features
- Free automatic transfers
- Six free withdrawals per month
- Gifted funds from parents or family are accepted
- No deadline to use savings funds
Tax Advantage
- Tax-free withdrawals when used to pay for the down payment, fees, or taxes of the purchase of a single-family residence in Idaho
Minimum Balance to Open
$25
Minimum Balance to Earn Interest
$0.01
Monthly Service Fees
$0
Number of Withdrawals
6/month ($2 for each additional)
No withdrawals are allowed in the first 30 days after account opening.
You Saved Money, Now What?
There are many expenses when it comes to buying a home. But don’t let that intimidate you. We can do this together! You’ve saved well with your Idaho First-time Homebuyer Savings Account and we will guide you through the following steps:
- Loan Origination Fees
- Appraisal Costs
- Realtor Fees
- Down Payment
- Closing Costs
ICCU Savings Benefits
Free Mobile Banking
You have all the tools you need to manage your accounts through the ICCU mobile app or on ICCU.com, anywhere, anytime. Check balances, transfer money, pay bills, set up alerts, and so much more.
Free Credit Score & Monitoring
My Credit is a free service powered by SavvyMoney® that helps you stay on top of your credit. Check your credit score, view your credit report, and get up-to-date credit monitoring notifications through ICCU mobile or online banking.
Free VideoChat
Bank face-to-face from anywhere in the world with a live service agent through ICCU’s VideoChat. Not only is it convenient, it’s secure and easy to use for account questions, opening a new account, applying for a loan, and much more!
Make a Deposit
Don’t have time to run to the branch to deposit your check? No problem! Deposit checks on the go using the ICCU App or from the comfort of your home using the Make a Deposit feature in eBranch.
Boost Your Home-Buying Confidence
Owning a home can be one of the greatest joys of life. We want to help all Idaho Central members get the home they deserve, and to prove it, we’ve put together a tool belt of resources that range from home loan calculators to educational courses to help you make a solid game plan.
Once your plan is in place and you have taken advantage of these resources, put your new-found confidence to practice and apply for a mortgage that is right for you.
Idaho First-Time Home Buyer Savings
| Balance | APY* | Interest Rate | ||
|---|---|---|---|---|
| Balance0-2,499 | APY*0.25% | Interest Rate0.25% | Terms | |
| Balance2,500-24,999 | APY*0.25% | Interest Rate0.25% | Terms | |
| Balance25,000+ | APY*0.25% | Interest Rate0.25% | Terms |