HOMeownership

 

LEAP has been approaching housing challenges in our communities with creative affordable solutions since 2016. 

A statewide organization, LEAP is on track to create 1,000 affordable housing opportunities in Idaho by 2026. One of the ways we create opportunities is through affordable homeownership for Idahoans.

Watch the videos below to learn more about our homeownership work, why it’s needed, and how you can get involved.

 

Laura Rideout | LEAP Homeowner

Michelle Larson | LEAP Loan Fund Investor

Micki & Dan Chapin | Donors

Mitch Rudder & Daniel Rhodes | Idaho central credit union

How does LEAP Create affordable homeownership?

CREATING HOMES TO OWN

The LEAP Housing Trust is a leader in creating affordable homeownership in the Treasure Valley. LEAP acquires land through sales or donations and removes the land cost from the home purchase price. LEAP holds the land in trust while homeowners own the house itself, ensuring the home stays affordable for generations of buyers (99+ years of affordability via a land lease). And homeowners get the benefits of stability and building equity.

BELOW-MARKET-RATE LOANS

Through the LEAP Loan Fund (LLF), buyers of LEAP homes had the opportunity to receive below-market interest rate financing. All buyers received 0% interest loans via down payment assistance, while some buyers were able to qualify for a 3% mortgage instead of using a market rate lender. These financial products ensure buyers spend no more than 35% of their income on housing.

The power of the LEAP Housing Trust + LEAP Loan Fund is this: one gift can make a home affordable forever.

Homes in the LEAP Housing Trust