Idaho Falls FHA Loans
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
5.23%
for the week of 2022-05-20, compared to the national average (all FHA variants) of
5.352% for the same period.
The average rate for the prior week (2022-05-13) was
5.13% and
one month ago for the week of 2022-04-15, the
average rate was 4.92%.
The average rate one year ago was 3%.
For refis of the same type during the week of 2022-05-20, the average rate
was 4.78%.
Idaho Falls FHA Loan Lenders by Rates & Fees
The below table looks at the average fees 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 (29.0%) | $329,261 (28.9%) | 0.00 | 347 |
2018-02-01 | $252,250 (32.8%) | $334,447 (27.8%) | 0.00 | 305 |
2018-03-01 | $269,000 (38.3%) | $347,477 (32.5%) | 0.00 | 278 |
2018-04-01 | $259,450 (15.3%) | $332,408 (11.1%) | 0.00 | 293 |
2018-05-01 | $260,000 (13.6%) | $321,319 (4.3%) | 0.00 | 323 |
2018-06-01 | $258,990 (12.6%) | $325,797 (6.0%) | 0.00 | 360 |
2018-07-01 | $257,450 (5.1%) | $325,728 (2.7%) | 0.00 | 388 |
2018-08-01 | $259,950 (8.8%) | $334,683 (8.7%) | 0.00 | 416 |
2018-09-01 | $265,000 (12.8%) | $332,003 (7.2%) | 0.00 | 429 |
2018-10-01 | $264,900 (15.2%) | $341,838 (11.0%) | 0.00 | 406 |
2018-11-01 | $267,450 (17.7%) | $353,850 (12.7%) | 0.00 | 371 |
2018-12-01 | $259,900 (10.6%) | $361,192 (10.4%) | 0.00 | 299 |
2019-01-01 | $268,950 (10.9%) | $363,632 (10.4%) | 0.00 | 250 |
2019-02-01 | $284,950 (13.0%) | $374,740 (12.1%) | 0.00 | 249 |
2019-03-01 | $291,329 (8.3%) | $380,493 (9.5%) | 0.00 | 237 |
2019-04-01 | $299,450 (15.4%) | $389,981 (17.3%) | 0.00 | 225 |
2019-05-01 | $294,950 (13.4%) | $382,933 (19.2%) | 0.00 | 275 |
2019-06-01 | $292,000 (12.8%) | $390,379 (19.8%) | 0.00 | 305 |
2019-07-01 | $292,450 (13.6%) | $386,809 (18.8%) | 0.00 | 330 |
2019-08-01 | $290,714 (11.8%) | $382,134 (14.2%) | 0.00 | 345 |
2019-09-01 | $294,000 (10.9%) | $390,259 (17.6%) | 0.00 | 358 |
2019-10-01 | $289,450 (9.3%) | $383,370 (12.2%) | 0.00 | 352 |
2019-11-01 | $285,000 (6.6%) | $377,655 (6.7%) | 0.00 | 338 |
2019-12-01 | $290,950 (12.0%) | $383,691 (6.2%) | 0.00 | 290 |
2020-01-01 | $289,900 (7.8%) | $379,197 (4.3%) | 0.00 | 258 |
2020-02-01 | $295,000 (3.5%) | $381,310 (1.8%) | 0.00 | 247 |
2020-03-01 | $317,450 (9.0%) | $387,880 (1.9%) | 0.00 | 233 |
2020-04-01 | $319,500 (6.7%) | $386,338 (-0.9%) | 0.00 | 291 |
2020-05-01 | $327,000 (10.9%) | $382,251 (-0.2%) | 0.00 | 295 |
2020-06-01 | $345,000 (18.2%) | $412,190 (5.6%) | 0.00 | 266 |
2020-07-01 | $337,675 (15.5%) | $408,057 (5.5%) | 0.00 | 234 |
2020-08-01 | $350,000 (20.4%) | $413,970 (8.3%) | 0.00 | 207 |
2020-09-01 | $374,950 (27.5%) | $436,079 (11.7%) | 0.00 | 181 |
2020-10-01 | $380,000 (31.3%) | $445,108 (16.1%) | 0.00 | 151 |
2020-11-01 | $367,000 (28.8%) | $442,298 (17.1%) | 0.00 | 124 |
2020-12-01 | $380,000 (30.6%) | $421,571 (9.9%) | 0.00 | 105 |
2021-01-01 | $380,000 (31.1%) | $411,517 (8.5%) | 0.00 | 95 |
2021-02-01 | $380,000 (28.8%) | $411,380 (7.9%) | 0.00 | 91 |
2021-03-01 | $372,500 (17.3%) | $451,837 (16.5%) | 0.00 | 91 |
2021-04-01 | $395,000 (23.6%) | $499,998 (29.4%) | 0.00 | 96 |
2021-05-01 | $425,000 (30.0%) | $520,756 (36.2%) | 0.00 | 102 |
2021-06-01 | $429,000 (24.4%) | $556,829 (35.1%) | 0.00 | 144 |
2021-07-01 | $422,450 (25.1%) | $531,502 (30.3%) | 0.00 | 181 |
2021-08-01 | $440,000 (25.7%) | $532,299 (28.6%) | 0.00 | 225 |
2021-09-01 | $459,500 (22.6%) | $540,964 (24.1%) | 0.00 | 250 |
2021-10-01 | $465,000 (22.4%) | $545,079 (22.5%) | 0.00 | 228 |
2021-11-01 | $457,500 (24.7%) | $544,615 (23.1%) | 0.00 | 164 |
2021-12-01 | $459,950 (21.0%) | $552,581 (31.1%) | 0.00 | 143 |
2022-01-01 | $489,000 (28.7%) | $604,432 (46.9%) | 0.00 | 110 |
2022-02-01 | $525,000 (38.2%) | $653,206 (58.8%) | 0.00 | 107 |
2022-03-01 | $480,000 (28.9%) | $584,402 (29.3%) | 0.00 | 119 |
2022-04-01 | $520,000 (31.7%) | $596,013 (19.2%) | 0.00 | 172 |
Idaho Falls's median listing price comes in at 0% of the national average.
Idaho Falls's average listing price for 2022-04-01 was $596,013, a difference of $96,015 (19.2%) versus the prior year and $11,611 versus the prior month.
For the 2022-04-01 period, Idaho Falls had 172 MLS listings, a difference of 53 listings (45%) versus the prior month and 76 listings (79%) 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 | 2,939 sqft |
2018-02-01 | 0 days | 2,941 sqft |
2018-03-01 | 0 days | 3,028 sqft |
2018-04-01 | 0 days | 2,941 sqft |
2018-05-01 | 0 days | 2,910 sqft |
2018-06-01 | 0 days | 2,818 sqft |
2018-07-01 | 0 days | 2,779 sqft |
2018-08-01 | 0 days | 2,792 sqft |
2018-09-01 | 0 days | 2,784 sqft |
2018-10-01 | 0 days | 2,812 sqft |
2018-11-01 | 0 days | 2,962 sqft |
2018-12-01 | 0 days | 2,996 sqft |
2019-01-01 | 0 days | 2,957 sqft |
2019-02-01 | 0 days | 2,970 sqft |
2019-03-01 | 0 days | 2,952 sqft |
2019-04-01 | 0 days | 2,981 sqft |
2019-05-01 | 0 days | 2,913 sqft |
2019-06-01 | 0 days | 2,900 sqft |
2019-07-01 | 0 days | 2,849 sqft |
2019-08-01 | 0 days | 2,799 sqft |
2019-09-01 | 0 days | 2,769 sqft |
2019-10-01 | 0 days | 2,772 sqft |
2019-11-01 | 0 days | 2,692 sqft |
2019-12-01 | 0 days | 2,693 sqft |
2020-01-01 | 0 days | 2,726 sqft |
2020-02-01 | 0 days | 2,726 sqft |
2020-03-01 | 0 days | 2,829 sqft |
2020-04-01 | 0 days | 2,800 sqft |
2020-05-01 | 0 days | 2,858 sqft |
2020-06-01 | 0 days | 3,006 sqft |
2020-07-01 | 0 days | 2,906 sqft |
2020-08-01 | 0 days | 2,850 sqft |
2020-09-01 | 0 days | 2,752 sqft |
2020-10-01 | 0 days | 2,652 sqft |
2020-11-01 | 0 days | 2,500 sqft |
2020-12-01 | 0 days | 2,416 sqft |
2021-01-01 | 0 days | 2,333 sqft |
2021-02-01 | 0 days | 2,168 sqft |
2021-03-01 | 0 days | 2,708 sqft |
2021-04-01 | 0 days | 2,739 sqft |
2021-05-01 | 0 days | 2,800 sqft |
2021-06-01 | 0 days | 2,868 sqft |
2021-07-01 | 0 days | 2,784 sqft |
2021-08-01 | 0 days | 2,770 sqft |
2021-09-01 | 0 days | 2,792 sqft |
2021-10-01 | 0 days | 2,770 sqft |
2021-11-01 | 0 days | 2,809 sqft |
2021-12-01 | 0 days | 2,849 sqft |
2022-01-01 | 0 days | 2,835 sqft |
2022-02-01 | 0 days | 2,998 sqft |
2022-03-01 | 0 days | 2,803 sqft |
2022-04-01 | 0 days | 2,976 sqft |
Idaho Falls's median square footage for active listings during the 2022-04-01 period was 2,976 sqft. One year prior, the average listing was 2,739 sqft.