First-Time Home Buyer Savings Accounts

Top 5 FAQs

1. Who qualifies? Any tax-paying Idaho resident or their Idaho spouse who hasn’t previously owned property in Idaho or any other state.

2. What banks and credit unions are participating?

  • First Federal Savings Bank
  • Bank of Commerce
  • Willamette Valley Bank
  • Idaho Central Credit Union
  • CapEd
  • Westmark Credit Union

Don’t see your bank or credit union? Ask them today about opening a FTHB Savings Account.

3. What are the limits? Individual tax-payers can save up to $15,000 a year and joint filers can save up to $30,000 a year for the eventual purchase of their first home.  Annual savings can be deducted from their Idaho taxable income.  The limit on the savings account is $100,000.  

4. What can the savings be used for? Funds can be saved for the eventual purchase of a home.  That includes down-payment, appraisal costs, closing costs and more (anything associated with closing on their first home).

5. Who may I contact with additional questions? Email Max Pond at or call (208) 342-3585.

First-Time Home Buyer Savings Account Ad Campaign

Thank you to Idaho REALTORS® 2020-2021 Leadership Academy for developing these informative and easy to read infographics as a part of their class project! These are great to share with your clients to help explain First-Time Home Buyer Savings Accounts.

*Downloads Available Below*

First-Time Home Buyer Savings Accounts: Bill H589 was passed this year!

Similar to existing Idaho tax-advantaged savings accounts for healthcare and education, Idaho’s First-time Home Buyer Savings Accounts encourage individuals to save for their first home, including down-payments, or other eligible costs associated with closing on their first home in Idaho.

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