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 68 lenders originated 779 FHA loans during 2021. The total origination value was $187,695,000, with an average FHA loan value of $240,944.
Idaho Falls FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Idaho Falls
averaged
5.96%
for the week of 2023-01-27, compared to the national average (all FHA variants) of
6.186% for the same period.
Idaho Falls's average FHA mortgage closing costs are $8,266.
The average rate for the prior week (2023-01-20) was
6.03% and
one month ago for the week of 2022-12-23, the
average rate was 6.03%.
The average rate one year ago was 3.52%.
For refis of the same type during the week of 2023-01-27, the average rate
was 5.62%.
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.
The top Idaho Falls FHA lender as defined by loan originations is CANOPY MORTGAGE, LLC, with
86 FHA loans originated. Their average total fees are
$10,897, which is $486
higher than the next largest lender,
MANN FINANCIAL INC..
The lowest fee Idaho Falls FHA lenders (with over 10 loans originated) are
FREEDOM MORTGAGE CORPORATION ($5,547), CALIBER HOME LOANS, INC. ($7,364), QUICKEN LOANS, LLC ($7,364), UNITED WHOLESALE MORTGAGE, LLC ($7,636) and Gateway First Bank ($8,097).
The lowest rate Idaho Falls FHA lenders (with over 10 loans originated) are
Flagstar Bank, FSB (2.56%), UNITED WHOLESALE MORTGAGE, LLC (2.63%), CALIBER HOME LOANS, INC. (2.65%), QUICKEN LOANS, LLC (2.66%) and S1L, Inc. (2.71%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Idaho Falls (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $242,450 (28.3%) | $328,662 (29.2%) | 0.00 | 340 |
2018-02-01 | $254,675 (34.0%) | $339,142 (30.5%) | 0.00 | 297 |
2018-03-01 | $269,900 (38.6%) | $353,742 (36.0%) | 0.00 | 274 |
2018-04-01 | $260,000 (15.6%) | $335,485 (13.1%) | 0.00 | 287 |
2018-05-01 | $261,075 (15.3%) | $325,139 (6.3%) | 0.00 | 317 |
2018-06-01 | $259,900 (13.0%) | $329,255 (7.2%) | 0.00 | 347 |
2018-07-01 | $259,573 (7.5%) | $325,082 (2.3%) | 0.00 | 373 |
2018-08-01 | $259,900 (8.5%) | $333,650 (8.3%) | 0.00 | 397 |
2018-09-01 | $265,000 (13.1%) | $329,954 (7.4%) | 0.00 | 415 |
2018-10-01 | $262,000 (13.9%) | $339,398 (11.8%) | 0.00 | 393 |
2018-11-01 | $266,750 (17.4%) | $349,695 (12.0%) | 0.00 | 361 |
2018-12-01 | $259,900 (10.6%) | $351,340 (8.2%) | 0.00 | 292 |
2019-01-01 | $267,450 (10.3%) | $360,670 (9.7%) | 0.00 | 241 |
2019-02-01 | $287,400 (12.9%) | $376,868 (11.1%) | 0.00 | 244 |
2019-03-01 | $294,214 (9.0%) | $385,201 (8.9%) | 0.00 | 232 |
2019-04-01 | $299,450 (15.2%) | $394,336 (17.5%) | 0.00 | 222 |
2019-05-01 | $294,900 (13.0%) | $379,243 (16.6%) | 0.00 | 272 |
2019-06-01 | $290,000 (11.6%) | $379,175 (15.2%) | 0.00 | 304 |
2019-07-01 | $292,400 (12.7%) | $375,745 (15.6%) | 0.00 | 326 |
2019-08-01 | $287,909 (10.8%) | $372,011 (11.5%) | 0.00 | 344 |
2019-09-01 | $288,523 (8.9%) | $375,129 (13.7%) | 0.00 | 344 |
2019-10-01 | $288,932 (10.3%) | $377,006 (11.1%) | 0.00 | 347 |
2019-11-01 | $285,000 (6.8%) | $378,316 (8.2%) | 0.00 | 330 |
2019-12-01 | $291,000 (12.0%) | $390,150 (11.1%) | 0.00 | 286 |
2020-01-01 | $289,950 (8.4%) | $383,407 (6.3%) | 0.00 | 254 |
2020-02-01 | $295,000 (2.6%) | $390,288 (3.6%) | 0.00 | 244 |
2020-03-01 | $317,500 (7.9%) | $389,760 (1.2%) | 0.00 | 227 |
2020-04-01 | $315,000 (5.2%) | $386,911 (-1.9%) | 0.00 | 283 |
2020-05-01 | $325,000 (10.2%) | $382,341 (0.8%) | 0.00 | 287 |
2020-06-01 | $345,000 (19.0%) | $411,635 (8.6%) | 0.00 | 261 |
2020-07-01 | $337,675 (15.5%) | $405,604 (8.0%) | 0.00 | 230 |
2020-08-01 | $350,000 (21.6%) | $413,260 (11.1%) | 0.00 | 204 |
2020-09-01 | $372,500 (29.1%) | $440,130 (17.3%) | 0.00 | 180 |
2020-10-01 | $365,000 (26.3%) | $451,000 (19.6%) | 0.00 | 137 |
2020-11-01 | $354,500 (24.4%) | $450,851 (19.2%) | 0.00 | 112 |
2020-12-01 | $376,250 (29.3%) | $427,363 (9.5%) | 0.00 | 93 |
2021-01-01 | $370,000 (27.6%) | $410,859 (7.2%) | 0.00 | 82 |
2021-02-01 | $370,250 (25.5%) | $416,361 (6.7%) | 0.00 | 85 |
2021-03-01 | $369,950 (16.5%) | $455,474 (16.9%) | 0.00 | 92 |
2021-04-01 | $395,000 (25.4%) | $507,972 (31.3%) | 0.00 | 100 |
2021-05-01 | $425,000 (30.8%) | $525,466 (37.4%) | 0.00 | 103 |
2021-06-01 | $422,500 (22.5%) | $557,133 (35.4%) | 0.00 | 141 |
2021-07-01 | $422,500 (25.1%) | $526,451 (29.8%) | 0.00 | 175 |
2021-08-01 | $439,500 (25.6%) | $531,142 (28.5%) | 0.00 | 217 |
2021-09-01 | $455,000 (22.2%) | $532,514 (21.0%) | 0.00 | 241 |
2021-10-01 | $460,000 (26.0%) | $539,118 (19.5%) | 0.00 | 222 |
2021-11-01 | $449,975 (26.9%) | $542,561 (20.3%) | 0.00 | 161 |
2021-12-01 | $471,200 (25.2%) | $557,438 (30.4%) | 0.00 | 142 |
2022-01-01 | $492,000 (33.0%) | $603,590 (46.9%) | 0.00 | 110 |
2022-02-01 | $527,000 (42.3%) | $635,461 (52.6%) | 0.00 | 106 |
2022-03-01 | $478,750 (29.4%) | $581,159 (27.6%) | 0.00 | 119 |
2022-04-01 | $520,000 (31.7%) | $593,234 (16.8%) | 0.00 | 162 |
2022-05-01 | $524,500 (23.4%) | $612,479 (16.6%) | 0.00 | 287 |
2022-06-01 | $487,000 (15.3%) | $586,070 (5.2%) | 0.00 | 427 |
2022-07-01 | $472,450 (11.8%) | $559,630 (6.3%) | 0.00 | 564 |
2022-08-01 | $455,000 (3.5%) | $527,587 (-0.7%) | 0.00 | 595 |
2022-09-01 | $450,000 (-1.1%) | $528,776 (-0.7%) | 0.00 | 568 |
2022-10-01 | $450,000 (-2.2%) | $533,849 (-1.0%) | 0.00 | 538 |
2022-11-01 | $449,975 (0.0%) | $523,406 (-3.5%) | 0.00 | 513 |
2022-12-01 | $438,000 (-7.1%) | $507,520 (-9.0%) | 0.00 | 478 |
Idaho Falls's median listing price comes in at 0% of the national average.
Idaho Falls's average listing price for 2022-12-01 was $507,520, a difference of $-49,918 (-9.0%) versus the prior year and $-15,886 versus the prior month.
For the 2022-12-01 period, Idaho Falls had 478 MLS listings, a difference of -35 listings (-7%) versus the prior month and 336 listings (237%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Idaho Falls (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,953 sqft |
2018-02-01 | 0 days | 2,975 sqft |
2018-03-01 | 0 days | 3,012 sqft |
2018-04-01 | 0 days | 2,944 sqft |
2018-05-01 | 0 days | 2,926 sqft |
2018-06-01 | 0 days | 2,836 sqft |
2018-07-01 | 0 days | 2,784 sqft |
2018-08-01 | 0 days | 2,794 sqft |
2018-09-01 | 0 days | 2,784 sqft |
2018-10-01 | 0 days | 2,810 sqft |
2018-11-01 | 0 days | 2,956 sqft |
2018-12-01 | 0 days | 2,985 sqft |
2019-01-01 | 0 days | 2,937 sqft |
2019-02-01 | 0 days | 2,968 sqft |
2019-03-01 | 0 days | 2,967 sqft |
2019-04-01 | 0 days | 2,985 sqft |
2019-05-01 | 0 days | 2,880 sqft |
2019-06-01 | 0 days | 2,887 sqft |
2019-07-01 | 0 days | 2,819 sqft |
2019-08-01 | 0 days | 2,780 sqft |
2019-09-01 | 0 days | 2,765 sqft |
2019-10-01 | 0 days | 2,755 sqft |
2019-11-01 | 0 days | 2,690 sqft |
2019-12-01 | 0 days | 2,697 sqft |
2020-01-01 | 0 days | 2,739 sqft |
2020-02-01 | 0 days | 2,762 sqft |
2020-03-01 | 0 days | 2,856 sqft |
2020-04-01 | 0 days | 2,800 sqft |
2020-05-01 | 0 days | 2,865 sqft |
2020-06-01 | 0 days | 3,022 sqft |
2020-07-01 | 0 days | 2,914 sqft |
2020-08-01 | 0 days | 2,859 sqft |
2020-09-01 | 0 days | 2,833 sqft |
2020-10-01 | 0 days | 2,702 sqft |
2020-11-01 | 0 days | 2,567 sqft |
2020-12-01 | 0 days | 2,624 sqft |
2021-01-01 | 0 days | 2,396 sqft |
2021-02-01 | 0 days | 2,326 sqft |
2021-03-01 | 0 days | 2,716 sqft |
2021-04-01 | 0 days | 2,757 sqft |
2021-05-01 | 0 days | 2,800 sqft |
2021-06-01 | 0 days | 2,826 sqft |
2021-07-01 | 0 days | 2,728 sqft |
2021-08-01 | 0 days | 2,755 sqft |
2021-09-01 | 0 days | 2,795 sqft |
2021-10-01 | 0 days | 2,792 sqft |
2021-11-01 | 0 days | 2,798 sqft |
2021-12-01 | 0 days | 2,852 sqft |
2022-01-01 | 0 days | 2,876 sqft |
2022-02-01 | 0 days | 2,991 sqft |
2022-03-01 | 0 days | 2,772 sqft |
2022-04-01 | 0 days | 2,940 sqft |
2022-05-01 | 0 days | 2,959 sqft |
2022-06-01 | 0 days | 2,882 sqft |
2022-07-01 | 0 days | 2,842 sqft |
2022-08-01 | 0 days | 2,815 sqft |
2022-09-01 | 0 days | 2,806 sqft |
2022-10-01 | 0 days | 2,816 sqft |
2022-11-01 | 0 days | 2,905 sqft |
2022-12-01 | 0 days | 2,880 sqft |
Idaho Falls's median square footage for active listings during the 2022-12-01 period was 2,880 sqft. One year prior, the average listing was 2,852 sqft.