Bank Of Idaho Mortgage Rates, Fees & Info

Idaho Falls, ID

LEI: 549300SE6YAYK0PZZR74

Tax ID: 82-0398499

4.7 stars - Updated: 12/9/24 - out of 5 stars, based on 13 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Bank Of Idaho is a smaller bank specializing in Home Purchase and Refi loans. Bank Of Idaho has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Boise City, Idaho Falls, Pocatello, Rexburg, and Hailey among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bank Of Idaho has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bank Of Idaho is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.67% 12/9/24
30 Year Conventional Refi 6.61% 12/9/24
30 Year FHA Purchase 7.22% 12/9/24
30 Year FHA Refi 7.21% 12/9/24
30 Year VA Purchase 5.97% 12/9/24
30 Year VA Refi 6.11% 12/9/24
30 Year USDA Purchase 6.58% 12/9/24
15 Year Conventional Purchase 6.67% 12/9/24
15 Year Conventional Refi 6.18% 12/9/24
15 Year Cash-out Refi 6.18% 12/9/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Bank Of Idaho Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Bank Of Idaho. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

168

Origination Dollar Volume (All Markets)

$64,580,000

Relative Rate

Bank Of Idaho's average 30 year fixed mortgage rate was 6.68%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.2%.

Relative Fees (Closing Costs)

Bank Of Idaho's average total fees/closing costs for a 30 year fixed rate mortgage were $8,768.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
BOISE CITY, ID (FHA|USDA|VA) 44 $24,500,000 $556,818 $11,464 6.58%
Outside of Metro Areas 28 $8,960,000 $320,000 $7,708 6.79%
IDAHO FALLS, ID (FHA|USDA|VA) 18 $7,050,000 $391,667 $8,504 6.62%
POCATELLO, ID (FHA|USDA|VA) 26 $6,300,000 $242,308 $8,384 6.97%
Rexburg, ID (FHA|USDA|VA) 15 $4,745,000 $316,333 $8,986 7.01%
Hailey, ID (FHA|USDA|VA) 3 $3,665,000 $1,221,667 $18,521 6.16%
TWIN FALLS, ID (FHA|USDA|VA) 13 $3,055,000 $235,000 $5,614 6.53%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 4 $1,070,000 $267,500 $7,479 6.78%
Jackson, WY-ID (FHA|USDA|VA) 2 $870,000 $435,000 $7,058 6.93%
Hermiston-Pendleton, OR (FHA|USDA|VA) 1 $825,000 $825,000 $11,617 7.16%
LOGAN, UT-ID (FHA|USDA|VA) 2 $600,000 $300,000 $6,910 5.88%
Ontario, OR-ID (FHA|USDA|VA) 2 $600,000 $300,000 $6,844 6.92%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $365,000 $365,000 $8,148 7.69%
Outside of Metro Areas 1 $345,000 $345,000 $0 6.25%
Blackfoot, ID (FHA|USDA|VA) 1 $315,000 $315,000 $10,114 5.50%
Burley, ID (FHA|USDA|VA) 1 $305,000 $305,000 $7,007 6.99%
Moscow, ID (FHA|USDA|VA) 1 $235,000 $235,000 $7,398 6.75%
YAKIMA, WA (FHA|USDA|VA) 1 $195,000 $195,000 $4,137 7.38%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $185,000 $185,000 $5,275 6.75%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $145,000 $145,000 $4,646 6.75%
COLUMBIA, MO (FHA|USDA|VA) 1 $145,000 $145,000 $3,258 6.62%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $105,000 $105,000 $4,555 5.88%
Bank Of Idaho's top markets include Boise City, Idaho Falls, Pocatello, Rexburg, and Hailey among others.

Their top states include:
  • Idaho (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Bank of Idaho based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    ADVANTAGE PLUS
    Similarity Rank: 72
    PIONEER
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    BEEHIVE
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    First Republic Bank
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    EAST IDAHO Credit Union
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    HOMEAMERICAN MORTGAGE CORPORATION
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    Shea Mortgage Inc.
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    First Western Trust Bank
    Similarity Rank: 1152

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 135 $53,925,000 $399,444 $8,505 6.81%
    FHA 22 $6,470,000 $294,091 $13,388 6.45%
    VA 9 $3,485,000 $387,222 $11,865 6.30%
    USDA 2 $700,000 $350,000 $10,114 5.44%

    For 2023, Bank Of Idaho's most frequently originated type of loan was Conventional, with 135 originations. Their 2nd most popular type was FHA, with 22 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 121 $41,005,000 $338,884 $9,076 6.69%
    Refi 30 $15,560,000 $518,667 $8,923 6.68%
    Cash Out Refi 17 $8,015,000 $471,471 $9,624 6.98%

    For 2023, Bank Of Idaho's most frequently cited loan purpose was Home Purchase, with 121 originations. The 2nd most popular reason was Refi, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 126 $46,450,000 $368,651 $8,768 6.68%
    10 Year 23 $11,325,000 $492,391 $10,908 6.62%
    15 Year 15 $3,115,000 $207,667 $8,449 7.23%
    Other 3 $3,585,000 $1,195,000 $10,935 6.27%
    20 Year 1 $105,000 $105,000 $4,925 7.63%

    For 2023, Bank Of Idaho's most frequently cited loan duration was 30 Year, with 126 originations. The 2nd most popular length was 10 Year, with 23 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 62 $39,290,000 $633,710
    $3k-4k 46 $11,950,000 $259,783
    $4k-5k 21 $7,195,000 $342,619
    $2k-3k 19 $3,665,000 $192,895
    $<1k 11 $1,405,000 $127,727
    $1k-2k 9 $1,075,000 $119,444

    Bank Of Idaho's average total fees were $8,768, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 62 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 99 $38,765,000 $391,566
    7-8% 40 $12,010,000 $300,250
    5-6% 24 $13,440,000 $560,000
    Over 8% 5 $365,000 $73,000

    During 2023, Bank Of Idaho's average interest rate for loans was 6.68%, while their most frequently originated rate bucket for loans was 6-7%, with 99 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 85 $24,905,000 $293,000 $8,059 6.69%
    $400k-600k 24 $11,830,000 $492,917 $11,037 6.71%
    $100k-200k 23 $3,385,000 $147,174 $4,808 6.77%
    $600k-1MM 18 $13,600,000 $755,556 $13,608 6.42%
    $100,000 or less 12 $360,000 $30,000 $3,796 7.55%
    $1MM+ 6 $10,500,000 $1,750,000 $21,804 6.18%

    2023 saw Bank Of Idaho place emphasis on $200k-400k loans with 85 originations, totaling $24,905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 37 $26,575,000 $718,243 $12,129 6.59%
    $100k-150k 36 $12,470,000 $346,389 $8,967 6.66%
    $75k-100k 34 $8,690,000 $255,588 $8,413 6.95%
    $150k-250k 27 $10,685,000 $395,741 $8,818 6.85%
    $50k-75k 24 $4,380,000 $182,500 $6,240 6.65%
    $50k or less 9 $1,255,000 $139,444 $4,638 6.41%

    Bank Of Idaho lent most frequently to those with incomes in the $250k+ range, with 37 originations. The second most popular income band? $100k-150k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 31 $13,225,000 $426,613 $9,067 6.59%
    30-36% 21 $6,255,000 $297,857 $7,633 6.61%
    <20% 20 $9,190,000 $459,500 $8,420 6.61%
    50-60% 13 $5,075,000 $390,385 $13,634 6.69%
    41% 13 $4,225,000 $325,000 $8,964 7.23%
    36% 11 $6,765,000 $615,000 $11,158 6.94%
    44% 8 $1,730,000 $216,250 $5,731 6.84%
    43% 7 $2,245,000 $320,714 $8,975 6.52%
    45% 5 $2,795,000 $559,000 $12,884 6.90%
    37% 5 $3,665,000 $733,000 $13,737 6.58%
    38% 5 $1,065,000 $213,000 $6,695 7.02%
    39% 5 $1,465,000 $293,000 $8,953 6.92%
    49% 5 $735,000 $147,000 $4,877 6.33%
    42% 4 $690,000 $172,500 $4,852 6.81%
    47% 4 $2,000,000 $500,000 $7,924 6.69%
    48% 3 $995,000 $331,667 $10,120 6.92%
    46% 3 $555,000 $185,000 $0 6.50%
    40% 3 $915,000 $305,000 $5,853 6.33%
    >60% 1 $465,000 $465,000 $10,817 7.50%

    Bank Of Idaho lent most frequently to those with DTI ratios of 20-30%, with 31 originations. The next most common DTI ratio? 30-36%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 157 $60,075,000 $382,643 $9,111 6.71%
    Not provided 10 $3,880,000 $388,000 $8,902 6.82%
    Asian 1 $625,000 $625,000 $11,243 6.50%

    Approval Rates

    Total approvals of all applications
    97.00%

    Bank Of Idaho has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    84.52%

    Bank Of Idaho has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 168 $64,580,000 $384,405

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    168 $64,580,000 $384,405

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $2,360,000 $196,667 $5,478 6.59%
    40-60% 22 $10,660,000 $484,545 $8,239 6.68%
    60-80% 64 $29,640,000 $463,125 $9,130 6.78%
    80-100% 58 $21,230,000 $366,034 $10,821 6.52%
    Over 100% 1 $395,000 $395,000 $19,507 5.75%
    Under 20% 11 $295,000 $26,818 $3,134 7.72%