Idaho Falls FHA Loan Rates, Closing Costs & Stats

IDAHO FALLS, ID

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Idaho Falls's 71 lenders originated 554 FHA loans during 2024. The total origination value was $180,660,000, with an average FHA loan value of $326,101.

Idaho Falls FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Idaho Falls averaged 0.18% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

Idaho Falls's average FHA mortgage closing costs are $10,048.

The average rate for the prior week (2025-06-13) was 6.56% and one month ago for the week of 2025-05-16, the average rate was 6.62%.

The average rate one year ago was 6.67%.

For refis of the same type during the week of 2025-06-20, the average rate was -0.22%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Idaho Falls FHA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Idaho Falls level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Eagle Bank and Trust Company 73 6.07% $13,066
CANOPY MORTGAGE, LLC 49 6.15% $14,992
QUICKEN LOANS, LLC 47 6.12% $13,711
UNITED WHOLESALE MORTGAGE, LLC 41 6.05% $14,485
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 31 6.35% $15,377
IDAHO CENTRAL 28 6.04% $12,813
FIRST COLONY MORTGAGE CORPORATION 26 6.11% $13,253
S1L, Inc. 23 6.32% $14,132
BELEM SERVICING LLC 20 6.29% $15,572
SUMMIT FUNDING, INC. 16 6.45% $15,459
Flagstar Bank, FSB 9 6.30% $17,736
VERITAS FUNDING, LLC 9 6.14% $16,309
MOUNTAIN AMERICA 8 5.42% $13,855
LOANDEPOT.COM, LLC 7 6.55% $15,698
LOANPAL, LLC 7 5.45% $17,929
FREEDOM MORTGAGE CORPORATION 6 6.44% $12,734
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.62% $12,823
Zions Bank 5 6.18% $12,963
Gateway First Bank 5 6.28% $14,394
GUILD MORTGAGE COMPANY 4 6.28% $13,215
AXIA FINANCIAL, LLC 4 6.91% $15,278
SUN WEST MORTGAGE COMPANY, INC. 3 5.88% $18,479
AMERICAN FINANCIAL RESOURCES, INC. 3 6.08% $20,783
ENVOY MORTGAGE, LTD 3 5.63% $13,114
MOVEMENT MORTGAGE, LLC 3 6.42% $11,824
Mr. Cooper ( Nationstar Mortgage ) 3 6.25% $14,213
NEWREZ LLC 3 6.04% $12,349
Paramount Residential Mortgage Group, Inc. 3 6.96% $15,061
PENNYMAC LOAN SERVICES, LLC 3 5.92% $7,280
PREMIER MORTGAGE RESOURCES, L.L.C. 3 6.42% $15,844
RANLIFE, INC. 3 6.37% $17,127
The Loan Store, Inc. 2 5.88% $10,960
WESTMARK Credit Union 2 7.25% $5,862
Magnolia Bank 2 5.69% $11,946
CHURCHILL MORTGAGE CORPORATION 2 5.81% $15,506
Mortgage Research Center, LLC 2 6.88% $7,175
ZILLOW HOME LOANS, LLC 2 6.19% $13,445
Century Mortgage Company DBA Century Lending Company 2 6.19% $13,364
Franklin Loan Corporation 2 6.50% $20,843
AMERICAN FINANCING CORPORATION 2 6.06% $21,323
CROSSCOUNTRY MORTGAGE, LLC 2 5.75% $16,870
Glacier Bank 2 5.81% $14,319
INTERCAP LENDING INC. 2 5.69% $19,644
NFM, INC. 1 6.25% $11,513
AMERISAVE MORTGAGE CORPORATION 1 6.75% $16,524
PHH Mortgage Corporation 1 6.49% $15,204
PLANET HOME LENDING, LLC 1 6.25% $5,752
PLAZA HOME MORTGAGE, INC. 1 7.00% $6,434
CARDINAL FINANCIAL 1 6.13% $12,550
BROKER SOLUTIONS, INC. 1 6.63% $10,338
SECURITYNATIONAL MORTGAGE COMPANY 1 6.25% $11,073
BETTER MORTGAGE CORPORATION 1 5.88% $13,533
Sunflower Bank 1 6.13% $11,209
AMERICAN FINANCIAL NETWORK, INC. 1 5.75% $16,350
Texana Bank 1 6.38% $8,706
First Federal Bank 1 6.00% $10,462
Equity Prime Mortgage LLC 1 5.88% $16,782
DIRECT MORTGAGE, CORP. 1 5.75% $14,967
CMG MORTGAGE, INC. 1 5.88% $11,453
CORNERSTONE HOME LENDING, INC. 1 6.75% $11,752
KeyBank 1 5.00% $9,947
LAKEVIEW LOAN SERVICING, LLC 1 6.63% $9,748
LAND HOME FINANCIAL SERVICES, INC. 1 6.63% $18,016
CASTLE & COOKE MORTGAGE, LLC 1 7.00% $15,028
MID AMERICA MORTGAGE, INC. 1 6.75% $5,407
Carrington Mortgage Services, LLC 1 7.13% $10,990
The Federal Savings Bank 1 6.75% $17,602
M&T Bank 1 6.25% $8,745
MUTUAL OF OMAHA MORTGAGE, INC. 1 5.63% $11,292
NBKC BANK 1 6.50% $8,195
BEEHIVE 1 6.00% $12,649

The top Idaho Falls FHA lender as defined by loan originations is Eagle Bank and Trust Company, with 73 FHA loans originated. Their average total fees are $13,066, which is $1,926 lower than the next largest lender, CANOPY MORTGAGE, LLC.

The lowest fee Idaho Falls FHA lenders (with over 10 loans originated) are IDAHO CENTRAL ($12,813), Eagle Bank and Trust Company ($13,066), FIRST COLONY MORTGAGE CORPORATION ($13,253), QUICKEN LOANS, LLC ($13,711) and S1L, Inc. ($14,132).

The lowest rate Idaho Falls FHA lenders (with over 10 loans originated) are IDAHO CENTRAL (6.04%), UNITED WHOLESALE MORTGAGE, LLC (6.05%), Eagle Bank and Trust Company (6.07%), FIRST COLONY MORTGAGE CORPORATION (6.11%) and QUICKEN LOANS, LLC (6.12%).

Idaho Falls FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
IDAHO FALLS, ID BONNEVILLE 2022 $420,680 $538,650 $651,050 $809,150
IDAHO FALLS, ID BUTTE 2022 $420,680 $538,650 $651,050 $809,150
IDAHO FALLS, ID JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
IDAHO FALLS, ID BONNEVILLE 2023 $472,030 $604,400 $730,525 $907,900
IDAHO FALLS, ID BUTTE 2023 $472,030 $604,400 $730,525 $907,900
IDAHO FALLS, ID JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).