Pocatello FHA Loan Rates, Closing Costs & Stats

POCATELLO, 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.

Pocatello's 43 lenders originated 262 FHA loans during 2023. The total origination value was $69,140,000, with an average FHA loan value of $263,893.

Pocatello FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Pocatello averaged 6.35% for the week of 2024-06-07, compared to the national average (all FHA variants) of 6.692% for the same period.

Pocatello's average FHA mortgage closing costs are $8,426.

The average rate for the prior week (2024-05-31) was 6.43% and one month ago for the week of 2024-05-03, the average rate was 6.93%.

The average rate one year ago was 6.4%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.79%.

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

Pocatello 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 Pocatello level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FIRST COLONY MORTGAGE CORPORATION 27 6.56% $12,003
IDAHO CENTRAL 27 6.34% $11,448
AMERICAN PACIFIC MORTGAGE CORPORATION 27 6.61% $11,168
QUICKEN LOANS, LLC 21 5.95% $13,347
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 6.50% $12,955
SUMMIT FUNDING, INC. 13 5.98% $12,476
UNITED WHOLESALE MORTGAGE, LLC 11 6.09% $12,650
VAN DYK MORTGAGE CORPORATION 10 6.58% $7,727
ADVANTAGE PLUS 8 6.34% $10,099
Glacier Bank 8 6.53% $13,937
CANOPY MORTGAGE, LLC 7 6.29% $12,301
PREMIER MORTGAGE RESOURCES, L.L.C. 3 6.50% $15,293
MUTUAL OF OMAHA MORTGAGE, INC. 3 6.33% $15,597
Bank of Idaho 3 6.71% $11,458
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 6.38% $16,201
AMERICAN FINANCING CORPORATION 3 6.00% $18,315
LAKEVIEW LOAN SERVICING, LLC 3 6.25% $11,730
D. L. Evans Bank 2 5.81% $11,407
AXIA FINANCIAL, LLC 2 6.56% $12,636
AMERISAVE MORTGAGE CORPORATION 2 6.25% $9,531
PENNYMAC LOAN SERVICES, LLC 2 6.31% $18,557
NEWREZ LLC 2 6.25% $7,890
SUN WEST MORTGAGE COMPANY, INC. 2 6.00% $9,861
GUILD MORTGAGE COMPANY 2 6.56% $9,677
WESTMARK Credit Union 1 6.75% $2,871
AUGUSTA FINANCIAL, INC. 1 5.25% $14,450
Barrington Bank & Trust Company, N.A. 1 6.13% $11,139
BELEM SERVICING LLC 1 7.50% $12,665
CALCON MUTUAL MORTGAGE LLC 1 5.25% $20,819
CMG MORTGAGE, INC. 1 7.13% $9,882
Commerce Home Mortgage, Inc. 1 6.63% $9,536
Franklin Loan Corporation 1 7.13% $12,436
GENEVA FINANCIAL, LLC 1 6.50% $13,357
JMAC LENDING, INC. 1 7.00% $13,853
LOANDEPOT.COM, LLC 1 6.13% $14,388
LOANPAL, LLC 1 6.25% $7,417
MANN FINANCIAL INC. 1 5.13% $3,453
MID AMERICA MORTGAGE, INC. 1 7.50% $4,924
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.38% $18,474
Mr. Cooper ( Nationstar Mortgage ) 1 6.00% $18,224
NFM, INC. 1 6.25% $12,008
POLARIS HOME FUNDING CORP. 1 6.25% $25,283
Sierra Pacific Mortgage Company, Inc. 1 7.25% $14,777

The top Pocatello FHA lender as defined by loan originations is FIRST COLONY MORTGAGE CORPORATION, with 27 FHA loans originated. Their average total fees are $12,003, which is $555 higher than the next largest lender, IDAHO CENTRAL.

The lowest fee Pocatello FHA lenders (with over 10 loans originated) are VAN DYK MORTGAGE CORPORATION ($7,727), AMERICAN PACIFIC MORTGAGE CORPORATION ($11,168), IDAHO CENTRAL ($11,448), FIRST COLONY MORTGAGE CORPORATION ($12,003) and SUMMIT FUNDING, INC. ($12,476).

The lowest rate Pocatello FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.95%), SUMMIT FUNDING, INC. (5.98%), UNITED WHOLESALE MORTGAGE, LLC (6.09%), IDAHO CENTRAL (6.34%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.50%).

Pocatello FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
POCATELLO, ID BANNOCK 2022 $420,680 $538,650 $651,050 $809,150
POCATELLO, ID POWER 2022 $420,680 $538,650 $651,050 $809,150
POCATELLO, ID BANNOCK 2023 $472,030 $604,400 $730,525 $907,900
POCATELLO, ID POWER 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Pocatello (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $161,175 (8.0%) $230,559 (17.2%) 0.00 176
2018-02-01 $163,700 (5.8%) $238,145 (18.5%) 0.00 167
2018-03-01 $179,900 (17.5%) $242,210 (20.0%) 0.00 170
2018-04-01 $190,175 (22.8%) $247,146 (17.8%) 0.00 167
2018-05-01 $202,450 (21.1%) $245,457 (9.3%) 0.00 197
2018-06-01 $189,900 (11.8%) $236,609 (6.5%) 0.00 255
2018-07-01 $181,675 (13.6%) $225,760 (5.1%) 0.00 274
2018-08-01 $192,400 (24.4%) $237,603 (11.2%) 0.00 258
2018-09-01 $195,000 (23.8%) $243,645 (12.1%) 0.00 249
2018-10-01 $212,000 (40.5%) $245,288 (11.7%) 0.00 231
2018-11-01 $209,975 (34.3%) $253,393 (14.9%) 0.00 217
2018-12-01 $210,000 (31.5%) $253,490 (9.9%) 0.00 202
2019-01-01 $197,450 (22.5%) $251,390 (9.0%) 0.00 170
2019-02-01 $209,900 (28.2%) $258,227 (8.4%) 0.00 168
2019-03-01 $228,614 (27.1%) $265,613 (9.7%) 0.00 155
2019-04-01 $234,114 (23.1%) $267,824 (8.4%) 0.00 146
2019-05-01 $235,700 (16.4%) $270,954 (10.4%) 0.00 148
2019-06-01 $237,450 (25.0%) $298,258 (26.1%) 0.00 183
2019-07-01 $234,900 (29.3%) $302,923 (34.2%) 0.00 221
2019-08-01 $242,982 (26.3%) $309,958 (30.5%) 0.00 234
2019-09-01 $247,605 (27.0%) $312,590 (28.3%) 0.00 238
2019-10-01 $251,850 (18.8%) $319,291 (30.2%) 0.00 241
2019-11-01 $258,250 (23.0%) $323,326 (27.6%) 0.00 239
2019-12-01 $251,225 (19.6%) $321,673 (26.9%) 0.00 226
2020-01-01 $253,750 (28.5%) $324,959 (29.3%) 0.00 185
2020-02-01 $265,250 (26.4%) $341,283 (32.2%) 0.00 162
2020-03-01 $268,625 (17.5%) $341,658 (28.6%) 0.00 170
2020-04-01 $281,175 (20.1%) $344,058 (28.5%) 0.00 182
2020-05-01 $284,900 (20.9%) $343,498 (26.8%) 0.00 185
2020-06-01 $294,900 (24.2%) $357,000 (19.7%) 0.00 179
2020-07-01 $294,450 (25.4%) $360,384 (19.0%) 0.00 177
2020-08-01 $290,000 (19.4%) $380,687 (22.8%) 0.00 148
2020-09-01 $257,450 (4.0%) $357,113 (14.2%) 0.00 130
2020-10-01 $241,250 (-4.2%) $384,210 (20.3%) 0.00 112
2020-11-01 $253,650 (-1.8%) $443,106 (37.1%) 0.00 93
2020-12-01 $262,475 (4.5%) $444,989 (38.3%) 0.00 93
2021-01-01 $269,000 (6.0%) $454,903 (40.0%) 0.00 74
2021-02-01 $312,825 (17.9%) $522,257 (53.0%) 0.00 68
2021-03-01 $356,225 (32.6%) $589,658 (72.6%) 0.00 60
2021-04-01 $329,475 (17.2%) $474,399 (37.9%) 0.00 67
2021-05-01 $320,000 (12.3%) $475,227 (38.4%) 0.00 79
2021-06-01 $379,900 (28.8%) $523,206 (46.6%) 0.00 97
2021-07-01 $351,450 (19.4%) $506,293 (40.5%) 0.00 130
2021-08-01 $380,500 (31.2%) $494,766 (30.0%) 0.00 140
2021-09-01 $391,950 (52.2%) $478,983 (34.1%) 0.00 156
2021-10-01 $399,250 (65.5%) $461,819 (20.2%) 0.00 152
2021-11-01 $355,975 (40.3%) $439,896 (-0.7%) 0.00 142
2021-12-01 $351,000 (33.7%) $438,953 (-1.4%) 0.00 111
2022-01-01 $364,900 (35.7%) $462,178 (1.6%) 0.00 75
2022-02-01 $416,249 (33.1%) $582,260 (11.5%) 0.00 54
2022-03-01 $442,450 (24.2%) $588,233 (-0.2%) 0.00 63
2022-04-01 $449,900 (36.6%) $552,066 (16.4%) 0.00 85
2022-05-01 $417,500 (30.5%) $500,637 (5.4%) 0.00 134
2022-06-01 $393,250 (3.5%) $474,373 (-9.3%) 0.00 181
2022-07-01 $409,900 (16.6%) $467,250 (-7.7%) 0.00 234
2022-08-01 $401,250 (5.5%) $460,982 (-6.8%) 0.00 247
2022-09-01 $386,225 (-1.5%) $436,830 (-8.8%) 0.00 281
2022-10-01 $385,950 (-3.3%) $444,250 (-3.8%) 0.00 293
2022-11-01 $382,238 (7.4%) $434,749 (-1.2%) 0.00 269
2022-12-01 $379,000 (8.0%) $433,403 (-1.3%) 0.00 250
2023-01-01 $382,500 (4.8%) $435,045 (-5.9%) 0.00 229
2023-02-01 $406,975 (-2.2%) $457,570 (-21.4%) 0.00 210
2023-03-01 $416,425 (-5.9%) $469,595 (-20.2%) 0.00 190
2023-04-01 $425,000 (-5.5%) $484,797 (-12.2%) 0.00 183
2023-05-01 $462,225 (10.7%) $513,627 (2.6%) 0.00 201
2023-06-01 $447,400 (13.8%) $526,368 (11.0%) 0.00 201
2023-07-01 $419,900 (2.4%) $516,795 (10.6%) 0.00 233
2023-08-01 $423,675 (5.6%) $513,251 (11.3%) 0.00 248
2023-09-01 $421,950 (9.3%) $506,705 (16.0%) 0.00 252
2023-10-01 $399,900 (3.6%) $495,905 (11.6%) 0.00 278
2023-11-01 $389,725 (2.0%) $470,800 (8.3%) 0.00 270
2023-12-01 $384,500 (1.5%) $464,016 (7.1%) 0.00 253
2024-01-01 $385,888 (0.9%) $458,535 (5.4%) 0.00 219
2024-02-01 $390,925 (-3.9%) $472,385 (3.2%) 0.00 206
2024-03-01 $399,900 (-4.0%) $490,417 (4.4%) 0.00 221
2024-04-01 $422,400 (-0.6%) $499,019 (2.9%) 0.00 241
2024-05-01 $423,750 (-8.3%) $497,589 (-3.1%) 0.00 265
Pocatello's median listing price for 2024-05-01 was $423,750, a difference of $-38,475 (-8.3%) versus the prior year and $1,350 versus the prior month.

Pocatello's median listing price comes in at 0% of the national average.

Pocatello's average listing price for 2024-05-01 was $497,589, a difference of $-16,038 (-3.1%) versus the prior year and $-1,430 versus the prior month.

For the 2024-05-01 period, Pocatello had 265 MLS listings, a difference of 24 listings (10%) versus the prior month and 64 listings (32%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Pocatello (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,177 sqft
2018-02-01 0 days 2,207 sqft
2018-03-01 0 days 2,214 sqft
2018-04-01 0 days 2,254 sqft
2018-05-01 0 days 2,298 sqft
2018-06-01 0 days 2,236 sqft
2018-07-01 0 days 2,127 sqft
2018-08-01 0 days 2,261 sqft
2018-09-01 0 days 2,276 sqft
2018-10-01 0 days 2,361 sqft
2018-11-01 0 days 2,426 sqft
2018-12-01 0 days 2,451 sqft
2019-01-01 0 days 2,266 sqft
2019-02-01 0 days 2,395 sqft
2019-03-01 0 days 2,546 sqft
2019-04-01 0 days 2,537 sqft
2019-05-01 0 days 2,570 sqft
2019-06-01 0 days 2,430 sqft
2019-07-01 0 days 2,360 sqft
2019-08-01 0 days 2,340 sqft
2019-09-01 0 days 2,311 sqft
2019-10-01 0 days 2,299 sqft
2019-11-01 0 days 2,296 sqft
2019-12-01 0 days 2,361 sqft
2020-01-01 0 days 2,307 sqft
2020-02-01 0 days 2,258 sqft
2020-03-01 0 days 2,441 sqft
2020-04-01 0 days 2,479 sqft
2020-05-01 0 days 2,500 sqft
2020-06-01 0 days 2,536 sqft
2020-07-01 0 days 2,478 sqft
2020-08-01 0 days 2,352 sqft
2020-09-01 0 days 2,245 sqft
2020-10-01 0 days 2,076 sqft
2020-11-01 0 days 2,198 sqft
2020-12-01 0 days 2,143 sqft
2021-01-01 0 days 2,209 sqft
2021-02-01 0 days 2,485 sqft
2021-03-01 0 days 2,538 sqft
2021-04-01 0 days 2,341 sqft
2021-05-01 0 days 2,252 sqft
2021-06-01 0 days 2,290 sqft
2021-07-01 0 days 2,364 sqft
2021-08-01 0 days 2,529 sqft
2021-09-01 0 days 2,546 sqft
2021-10-01 0 days 2,352 sqft
2021-11-01 0 days 2,256 sqft
2021-12-01 0 days 2,255 sqft
2022-01-01 0 days 2,200 sqft
2022-02-01 0 days 2,727 sqft
2022-03-01 0 days 2,728 sqft
2022-04-01 0 days 2,792 sqft
2022-05-01 0 days 2,320 sqft
2022-06-01 0 days 2,260 sqft
2022-07-01 0 days 2,287 sqft
2022-08-01 0 days 2,254 sqft
2022-09-01 0 days 2,188 sqft
2022-10-01 0 days 2,280 sqft
2022-11-01 0 days 2,296 sqft
2022-12-01 0 days 2,282 sqft
2023-01-01 0 days 2,292 sqft
2023-02-01 0 days 2,506 sqft
2023-03-01 0 days 2,512 sqft
2023-04-01 0 days 2,662 sqft
2023-05-01 0 days 2,625 sqft
2023-06-01 0 days 2,641 sqft
2023-07-01 0 days 2,518 sqft
2023-08-01 0 days 2,522 sqft
2023-09-01 0 days 2,493 sqft
2023-10-01 0 days 2,324 sqft
2023-11-01 0 days 2,207 sqft
2023-12-01 0 days 2,165 sqft
2024-01-01 0 days 2,175 sqft
2024-02-01 0 days 2,305 sqft
2024-03-01 0 days 2,298 sqft
2024-04-01 0 days 2,435 sqft
2024-05-01 0 days 2,398 sqft
Pocatello's median listing age (time on market) for 2024-05-01 was 0 days.

Pocatello's median square footage for active listings during the 2024-05-01 period was 2,398 sqft. One year prior, the average listing was 2,625 sqft.

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).