ICCU, LEAP Housing & GoWest Foundation Support Expanding Affordable Homeownership in Idaho

Posted by Alyse Knudsen on March 18, 2026

As housing affordability continues to challenge communities across Idaho, a new partnership between ICCU and LEAP Housing is paving pathways to homeownership for working families.

Through an innovative collaboration, ICCU is launching a $5 million mortgage pilot program offering qualified buyers 30-year, fixed-rate mortgages at a 3% interest rate — well below current market rates. The program will support affordable homeownership developments in Boise, Nampa, Mountain Home, and Priest River.

Complementing the mortgage initiative, the GoWest Foundation awarded a $100,000 grant to LEAP Housing’s Homeownership Fund, which provides critical down-payment assistance that will help make these credit union-financed homes financially accessible.

“By pairing ICCU’s below‑market mortgage with LEAP’s community land trust and support structure, we’re creating affordability that lasts — not just a one‑time benefit,” explained Ed Tierney, ICCU’s Chief Lending Officer. “The program combines a below‑market mortgage with down‑payment assistance funded through the GoWest Foundation grant, eliminating the upfront hurdle that keeps many qualified families out of homeownership. Features like no PMI, fixed rate terms, and flexible underwriting help ensure monthly payments stay sustainable to create long-lasting success.”

The partnership is expected to accelerate stable, affordable homeownership opportunities for Idahoans.

Addressing a Growing Housing Challenge

Idaho has experienced one of the fastest-rising housing markets in the country in recent years, putting homeownership increasingly out of reach for many residents.

Nearly 43% of Idaho households — about 473,000 families — earn 80% or less of the area median income and struggle to afford basic living costs. At the same time, home prices surged between 2020 and 2023, increasing more than 30% in 98% of Idaho counties.

The state also faces a significant funding gap. Idaho is one of the few states without a dedicated state-level affordable housing funding source and currently receives just $11.81 per resident in federal affordable housing funding, while facing a shortage of nearly 25,000 affordable housing units.

This shortage affects not only families but also local economies. Employers across Idaho — including hospitals, schools, and public safety departments — report difficulty recruiting and retaining workers because of housing costs.

“Traditional mortgage products were not supporting households earning roughly 80%–120% of area median income in Idaho, even though these are essential workforce families. This partnership allowed us to design a product specifically for that gap.”

A Model Built for Long-Term Affordability

LEAP Housing is an Idaho-based nonprofit and the state’s largest community land trust, focused on developing and preserving affordable housing that aligns with local wages.

In just nine years, the organization has grown from a small Boise-based nonprofit into a statewide affordable housing developer. Today, more than 1,000 Idaho residents live in LEAP housing.

The GoWest Foundation grant will support LEAP’s Homeownership Fund, which provides down payment assistance structured as a 0% “silent second” loan. The assistance is repaid when the home is sold, allowing the funds to be reinvested to help future homebuyers.

Homes developed through LEAP utilize a community land trust model, which includes a 99-year renewable ground lease. This structure ensures the home remains affordable for future generations while still allowing the current homeowner to build meaningful equity.

Credit Union Commitment to Communities

For ICCU, the initiative reflects a long-standing commitment to expanding access to opportunity in Idaho’s rural and underserved communities.

Since its founding in 1940, the credit union has grown by focusing on communities that often lacked financial services, opening branches in small towns, installing ATMs in areas without banking access, and offering specialized products such as USDA Rural Housing Loans and Land & Lot Loans.

Today, ICCU invests more than $1.5 million annually in community programs, including housing initiatives and nonprofit partnerships, while employees contribute thousands of volunteer hours through the credit union’s Green Team.

The partnership with LEAP Housing builds on that legacy by creating new ways for working families to access affordable homeownership. “LEAP is a nonprofit focused on long‑term, sustainable homeownership for working families, which aligns directly with ICCU’s mission of helping members achieve financial success,” added Tierney.

Creating Opportunity for Idaho Families

“The GoWest Foundation understood the urgency of Idaho’s housing challenges and aligned quickly around funding that directly supports first‑time buyers,” Tierney said.

LEAP has as many as 20 homes ready to close in communities across Idaho but lacks financing structures that keep monthly payments affordable for qualified buyers. With the GoWest Foundation’s support and ICCU’s below-market mortgage pilot, those homes can become attainable for essential workers such as teachers, caregivers, construction workers, and healthcare staff.

The partnership demonstrates how credit unions and nonprofit organizations can work together to address one of Idaho’s most pressing challenges, ensuring more families have the opportunity to build stability, equity, and opportunity through homeownership.

To learn more about grants or to discuss workforce housing collaboration ideas, contact the GoWest Foundation team.

Posted in Community Impact, GoWest Foundation, Idaho, Regional Member News, Top Headlines.