Last week, during a consultation, a veteran client asked if it was really possible to buy a home with a VA loan without a down payment. The answer is yes, and Boise is a city where this question comes up quite often.

According to Zillow, the average home value in Boise is around $508,000, and when considering all of Ada County, it rises to about $530,000. This figure indicates that the burden of coming up with a down payment is not insignificant.

However, there is a National Guard base near Boise, and about an hour's drive away is Mountain Home Air Force Base. With active duty members, veterans, and spouses eligible for VA loans, there are actually many cases where transactions proceed with a 0% down payment. VA loans do not have PMI, but they do come with a funding fee that ranges from 1.25% to 3.3% of the loan amount.

If you are not eligible for a VA loan, conventional loans and FHA loans are the next options. Conventional loans require a credit score of at least 620, with a down payment starting at 3%, and if your score exceeds 680, the interest rate terms improve. FHA loans allow for a down payment of 3.5% if your credit score is above 580, making them still popular among first-time homebuyers.

Idaho has few counties designated as high-cost areas by FHFA, and Ada County follows the standard conforming loan limit of $832,750 as of 2026. This means there is generally no need to resort to jumbo loans within the current price range.

Even within Boise, circumstances can vary depending on the area. The Meridian or South Boise areas tend to have higher prices due to new construction, while older neighborhoods closer to downtown are relatively more accessible.

If Korean families are moving based on school districts, they should narrow down neighborhoods based on GreatSchools ratings, but since school district boundaries change frequently, it's advisable to verify the assigned school before signing a contract.

Families moving from other states should also consider that Idaho's property tax and insurance systems differ from their previous residences. Specific conditions can vary by county.

Investors looking at Boise for rental income are also on the rise. While the demand for rentals remains steady due to population influx, the increase in supply makes it difficult to predict rental price increases definitively.

Looking specifically at funding fees, first-time users typically face a fee of around 2.15% of the loan amount, while repeat users can see it rise to 3.3%. Veterans recognized with a disability rating may have this funding fee waived, so it's important to check eligibility before applying.

The MIP for FHA loans is maintained throughout the loan term if the down payment is less than 10%, but VA loans do not have a monthly insurance premium, which is structurally advantageous for veterans. However, the funding fee can be included in the loan principal for repayment.

If you want to switch to a conventional loan, raising your credit score from 620 to above 680 is key. Lowering credit card utilization and managing accounts without late payments for 6 months to a year often leads to noticeable score improvements.

In recent years, more families have moved to Idaho while working remotely from other states, and in such cases, many proceed with conventional loans. Having income documentation organized in advance can reduce the processing time.

Some areas on the outskirts of Boise are classified as eligible for USDA loans, but densely populated areas like downtown Boise and Meridian often fall outside this eligibility. It's best to verify the property address's status on the USDA map through the lending institution.

For first-time homebuyers who are not veterans, deciding between FHA and conventional loans should be based on down payment capacity and credit scores. Both programs require property appraisals and inspection processes, so it's wise to allow ample time for scheduling.

Ultimately, in Boise, whether or not you are a veteran often becomes the first crossroads in choosing a loan, followed by credit score and down payment capacity. This article is not investment or legal advice, and consulting with a professional before making any contracts is recommended. The information is based on 2026 standards.