Idaho First-Time Home Buyer Savings Account

Open an Idaho First-Time Home Buyers Savings Account and
Smartly Save for Your First Home!

An Idaho First-Time Home Buyer Savings Account allows you to save for down payment and closing costs for a qualified first-time home purchase while possibly reducing the amount of Idaho income tax you owe. Smartly save money for your down-payment and closing costs, while earning interest and possibly saving on your taxes.*

The Idaho First-Time Home Buyer Savings Account allows you to save up to $15,000 per year (single) up to $100,000 total, or $30,000 per year (married) up to $100,000 total ­­— all of which may be deductible from your Idaho income taxes!
You may be able to deduct the deposited amount at the end of each year from your gross income for state income tax calculations.


Minimum deposit to open: $100

The account holder must:

  • Be an Idaho resident

  • Be a first-time home buyer

  • Have filed an Idaho income tax return for the most recent taxable year


No withdrawals may be made within the first 30 days the account is open.


Earned on average daily balance of $5 or more


Monthly Fees: None
It is your responsibility to ensure contributions, withdrawals, and other actions related to the account comply with Idaho tax law.  Consult with a legal or tax professional for specifics on how this product will impact tax liability and for questions about managing the account.

*Account must be established by the first-time home buyer. $100 minimum deposit to open the account. If the funds are used for any other purpose than mortgage down-payment or closing costs, the regular tax that would have been due under the income tax code will apply. Consult your tax advisor.

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8.25 %APR*

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6.25  %APR*

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*All credit products are subject to approval and subject to change without notice. Rates, terms, and amounts based on qualification. 

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