Idaho Falls USDA Loans

IDAHO FALLS, ID

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Idaho Falls's 20 lenders originated 66 USDA loans during 2021. The total origination value was $20,900,000, with an average USDA loan value of $316,667.

Idaho Falls USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Idaho Falls averaged 5.38% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

The average rate for the prior week (2022-05-13) was 5.17% and one month ago for the week of 2022-04-15, the average rate was 4.86%.

The average rate one year ago was 3.11%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.23%.

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

Idaho Falls USDA Loan Lenders by Rates & Fees

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

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
CANOPY MORTGAGE, LLC 25 2.36% $9,579
Eagle Bank and Trust Company 11 2.44% $7,523
Flagstar Bank, FSB 7 2.51% $8,764
IDAHO CENTRAL 3 2.75% $10,094
Gateway First Bank 2 2.88% $3,794
FIRST COLONY MORTGAGE CORPORATION 1 2.63% $5,978
Glacier Bank 1 2.75% $6,597
GUILD MORTGAGE COMPANY 1 2.63% $13,813
MANN FINANCIAL INC. 1 2.88% $13,436
MOUNTAIN AMERICA 1 2.25% $6,732
PENNYMAC LOAN SERVICES, LLC 1 3.63% $6,077
PREMIER MORTGAGE RESOURCES, L.L.C. 1 2.75% $11,892
SUMMIT FUNDING, INC. 1 2.88% $15,784
UNITED WHOLESALE MORTGAGE, LLC 1 2.63% $11,248
Bank of Idaho 1 2.63% $6,213
VERITAS FUNDING, LLC 1 2.38% $9,906
BEEHIVE 1 2.38% $7,935
CALIBER HOME LOANS, INC. 1 2.38% $7,861
EAST IDAHO Credit Union 1 2.25% $6,962
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.50% $14,883

The top Idaho Falls USDA lender as defined by loan originations is CANOPY MORTGAGE, LLC, with 25 USDA loans originated. Their average total fees are $9,579, which is $2,056 higher than the next largest lender, Eagle Bank and Trust Company.

The lowest fee Idaho Falls USDA lenders (with over 10 loans originated) are Eagle Bank and Trust Company ($7,523), CANOPY MORTGAGE, LLC ($9,579), .

The lowest rate Idaho Falls USDA lenders (with over 10 loans originated) are CANOPY MORTGAGE, LLC (2.36%), Eagle Bank and Trust Company (2.44%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Idaho Falls (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 $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 for 2022-04-01 was $520,000, a difference of $125,000 (31.7%) versus the prior year and $40,000 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2022-04-01 was 0 days.

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.