Fri. Dec 4th, 2020

Contribution of a move to the Gem State? You are in good company. Idaho’s rate of home penetration is slightly lower than 71% and has about 735,000 housing unitsAccording to the US Census Bureau 2018 American Community Survey.

The national average housing price is $ 229,700, and Idaho is only slightly higher at $ 233,100. In some expensive areas, less expensive housing can be found.

American News’ 2020 Best Idaho Mortgage Lender

The lender
American news rating
3% Min. advanced payment
600 Min. credit score
The lender
American news rating
3% Min. advanced payment
620 Min. credit score
The lender
American news rating
3% Min. advanced payment
600 Min. credit score
The lender
American news rating
10% Min. advanced payment
620 Min. credit score
The lender
American news rating
3% Min. advanced payment
620 Min. credit score

Best for large loan amount

Bank of America serves approximately 66 million customers in all 50 states. The lender offers traditional, Federal Housing Administration, Department of Veterans Affairs and Jumbo loans, as well as home equity lines of credit and mortgage refinancing.

Lender highlights

  • Mortgage Type: ARM, traditional, FHA, first time homebuyer program, home equity lines of credit, refinance, VA
  • Minimum FICO Credit Score: 600
  • Maximum loan amount: $ 5 million
  • Better Business Bureau Rating: A +

Best counter

  • Different types of mortgages

  • Annual percentage rate or closing cost rebate for qualifying Bank of America and Merrill Lynch clients

  • No closing costs and no annual cash balance fees for balance transfers and HELOCs

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Best for low cost

Chase, one of the largest banks in the country, offers mortgage and refinance loans to qualified borrowers. Home equity loans and HELOC are also available.

Before you apply

  • Mortgage Type Offered: ARM, Traditional, FHA, Jumbo, Refinance and VA
  • Minimum FICO Credit Score: 620
  • Maximum loan amount: $ 3 million
  • Better Business Bureau Rating: A +

Best counter

  • Accepts up to 3% down payment

  • Receives high marks from Better Business Bureau

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Best for product selection

Guild Mortgage, established in 1960, specializes in home loans and serves lenders around the country. The complete lender of products includes traditional and government-backed mortgages and home equity loans.

Before you apply

  • Mortgage Type: ARM, Traditional, FHA, Jumbo, Manufactured Homes, Refinance, Reverse, USDA & VA
  • Minimum FICO Credit Score: 600
  • Maximum loan amount: Different
  • Better Business Bureau Rating: A +

Best counter

  • Receives strong customer service rating from Better Business Bureau

  • Offers a wide range of mortgage products

  • Offers exclusive mortgage programs for first time buyers and manufactured homebuyers

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Best for customer service

LoanDepot was founded in 2010 and has since funded over $ 70 billion in mortgages. It offers FHA, traditional and other mortgage options. Borrowers with a FICO credit score as low as 580 may qualify for a loan.

main characteristics:

  • Mortgage Type Offered: Traditional, FHA, VA, ARM, Refinance (Conventional), Refinance (FHA), Refinance (VA), Home Equity Loan
  • Minimum FICO Credit Score: 500 with conditions
  • Maximum debt-to-income ratio: 43% for FHA
  • Maximum combined debt-to-value ratio: 90%
  • JD Power Satisfaction Rating: Four out of five

Best counter

  • LoanDepot mortgages have a lifetime guarantee, meaning that if you ever decide to refinance an existing LoanDepot loan, the company will waive the lender fee and reimburse the appraisal fee.

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Best for product availability

Quick Loan is a nationwide mortgage lender with several mortgage options. Known for customer service, the lender has an A + Better Business Bureau rating and received a rating of five (out of the best) in the 2018 US Primary Mortgage Organization Satisfaction Study.

Highlight:

  • Mortgage Type Offered: ARM, FHA, VA, Refinance (FHA), USDA, Traditional, Refinance (Traditional)
  • Minimum FICO Credit Score: 580 (FHA), other loans vary
  • Maximum debt-to-income ratio: 60%
  • JD Power Satisfaction Rating: Five out of five

Best counter

  • The complete loan procedure is available online.

  • Wide variety of mortgage products.

  • Good customer service rating.

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Best for va loan

Giants United Home Loans provides mortgages to veterans and military families in all 50 states and Washington, DC, and specializes in VA loans. In 2019, Veterans United Home Loan generated the largest VA loan in the nation.

Before you apply

  • Mortgage Type: ARM, Traditional, FHA, Refinance, USDA and VA
  • Minimum FICO Credit Score: 660
  • Maximum loan amount: $ 1.5 million
  • Better Business Bureau Rating: A +

Best counter

  • No military service required

  • No minimum loan amount set

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What are the mortgage rates in Idaho?

Average interest rate for a 30 year fixed rate Customizing Mortgages in Idaho 2.91%.

House interest rates Range from 2.38% Service 3.63% In Idaho.

What are today’s mortgage rates?

Loan type

Rate of this week

Last week rate

30-Year Fixed Rate Mortgage 3.01% 3.03%
15-Year Fixed Rate Mortgage 2.58% 2.56%
30-Year Fixed-Rate Jumbo Mortgage 3.03% 3.09%
5/1 ARM 3.04% 3.06%
5/1 Jumbo ARM 2.86% 2.87%

* Rates up to October 28, 2020

mortgage calculator

Are you reaching your dream home? US News’ mortgage calculator will show you how much home you can buy.

What are some Idaho homebuyer events?

The Idaho Housing and Finance Association offers several programs to assist Idaho homebuyers. Programs include mortgage insurance, down payment assistance, termination assistance and federal tax credits.

  • available to: Worthy Idaho Homebuyers.
  • Income Range: Vary by county and loan type (see) Income range).
  • Homebuyers for the first time only? No.
  • Benefit: Freddie Mac gifts up to 1% of the loan amount used based on loan type for payment or closing cost assistance, 97% maximum loan-to-loan ratio and low mortgage insurance.

  • available to: Worthy Idaho Homebuyers.
  • Income Range: Vary by county and loan type (see) Income range).
  • Homebuyers for the first time only? No.
  • Benefit: Loan-to-value ratio of up to 97% and potential reduced mortgage insurance.

  • available to: Worthy Idaho Homebuyers.
  • Income Range: Up to $ 110,000 may apply.
  • Homebuyers for the first time only? No.
  • Benefit: 10-year fixed-rate second mortgage to assist with closing costs or down payments of up to 3.5% of the selling price.

  • available to: Worthy Idaho Homebuyers.
  • Income Range: Up to $ 110,000 may apply.
  • Homebuyers for the first time only? No.
  • Benefit: A seven-year loan is a 0% interest up to 3.5% of the selling price for down payment and / or closing cost assistance.

  • available to: First time homebuyers, target area or someone who has not had a primary residence in the last three years.
  • Income Range: Different from county (see) Income range).
  • Homebuyers for the first time only? No.
  • Benefit: A federal income tax credit of up to 35% of the interest paid with a cap of $ 2,000 per year.

Advertisement Disclosure: Some of the loan offers on this site are from companies that are advertising customers of US News. Advertising considerations can influence where offers appear on the site but do not affect any editorial decisions, such as which loan products we write about and how to evaluate them. This site does not include all loan companies or all loan offers available in the market.

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