Idaho FHA Loan Rates, Closing Costs & Stats

Idaho

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 FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Idaho averaged -0.65% for the week of 2023-11-24, compared to the national average (all FHA variants) of 0% for the same period.

Idaho's average FHA mortgage closing costs are $9,254.

The average rate for the prior week (2023-11-17) was 6.64% and one month ago for the week of 2023-10-20, the average rate was 6.75%.

The average rate one year ago was 5.98%.

For refis of the same type during the week of 2023-11-24, the average rate was -1.54%.

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

Idaho 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 level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 247 4.25% $12,629
GUILD MORTGAGE COMPANY 231 4.87% $13,320
IDAHO CENTRAL 212 4.67% $11,672
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 211 4.96% $14,324
UNITED WHOLESALE MORTGAGE, LLC 178 4.65% $12,811
Willamette Valley Bank 148 4.78% $14,591
LOANDEPOT.COM, LLC 122 4.64% $13,461
PREMIER MORTGAGE RESOURCES, L.L.C. 114 4.79% $15,927
CANOPY MORTGAGE, LLC 113 5.12% $13,817
MOVEMENT MORTGAGE, LLC 111 5.04% $12,915
ACADEMY MORTGAGE CORPORATION 88 5.52% $14,719
SUMMIT FUNDING, INC. 84 5.05% $13,593
S1L, Inc. 83 4.99% $13,021
FIRST COLONY MORTGAGE CORPORATION 81 4.80% $13,521
Flagstar Bank, FSB 76 4.69% $11,926
AXIA FINANCIAL, LLC 73 5.32% $11,559
CALIBER HOME LOANS, INC. 71 4.61% $12,710
MANN FINANCIAL INC. 68 4.98% $12,314
CORNERSTONE HOME LENDING, INC. 65 5.20% $12,585
Eagle Bank and Trust Company 57 4.82% $12,061
FREEDOM MORTGAGE CORPORATION 53 4.63% $12,640
FINANCE OF AMERICA MORTGAGE LLC 53 4.94% $13,680
Mr. Cooper ( Nationstar Mortgage ) 48 4.36% $14,453
Waterstone Mortgage Corporation 45 4.75% $14,967
LAKEVIEW LOAN SERVICING, LLC 42 4.07% $8,830
Gateway First Bank 42 4.66% $10,582
PACIFIC RESIDENTIAL MORTGAGE, LLC 40 4.98% $14,375
PRIMELENDING, A PLAINSCAPITAL COMPANY 39 5.18% $13,295
PRIMARY RESIDENTIAL MORTGAGE, INC. 39 4.40% $16,558
BROKER SOLUTIONS, INC. 38 4.86% $12,826
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 37 5.28% $16,177
AMERISAVE MORTGAGE CORPORATION 36 4.66% $13,856
PENNYMAC LOAN SERVICES, LLC 35 4.29% $12,747
VAN DYK MORTGAGE CORPORATION 35 5.12% $7,787
BAY EQUITY LLC 33 5.34% $11,931
CROSSCOUNTRY MORTGAGE, LLC 33 5.66% $14,772
AMERICAN PACIFIC MORTGAGE CORPORATION 32 5.32% $12,767
Glacier Bank 31 4.80% $13,314
HOMEBRIDGE FINANCIAL SERVICES, INC. 31 4.87% $11,894
NFM, INC. 31 5.29% $11,926
AMERICAN FINANCING CORPORATION 30 4.43% $11,799
Carrington Mortgage Services, LLC 27 5.17% $14,097
CHURCHILL MORTGAGE CORPORATION 26 4.64% $14,465
AMCAP MORTGAGE, LTD. 24 5.68% $15,713
CARDINAL FINANCIAL 22 4.23% $10,982
Bank of Idaho 20 4.61% $11,274
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 18 4.96% $12,738
VERITAS FUNDING, LLC 17 4.76% $15,519
NEWREZ LLC 17 4.82% $10,909
GUARANTEED RATE, INC. 16 4.92% $13,748
Platinum Home Mortgage Corporation 16 5.09% $15,207
MOUNTAIN AMERICA 15 4.66% $11,868
D. L. Evans Bank 15 4.78% $12,189
Nations Lending Corporation 14 5.17% $15,534
EVERETT FINANCIAL, INC. 14 5.28% $7,806
HOME POINT FINANCIAL CORPORATION 13 4.41% $12,378
ADVANTAGE PLUS 12 4.74% $9,386
LEADERONE FINANCIAL CORPORATION 12 4.63% $14,207
LOANPAL, LLC 12 4.12% $14,906
PLANET HOME LENDING, LLC 12 4.35% $10,705
MUTUAL OF OMAHA MORTGAGE, INC. 12 4.57% $16,838
Umpqua Bank 11 4.63% $13,173
Equity Prime Mortgage LLC 11 5.45% $16,207
CASTLE & COOKE MORTGAGE, LLC 11 4.66% $16,139
CMG MORTGAGE, INC. 10 4.40% $15,505
Paramount Residential Mortgage Group, Inc. 10 4.69% $12,358
U.S. Bank 10 5.05% $10,696
MID AMERICA MORTGAGE, INC. 10 4.71% $3,884
Wallick & Volk, Inc. 9 5.58% $13,535
RANLIFE, INC. 9 4.94% $12,529
ARK-LA-TEX FINANCIAL SERVICES, LLC. 9 4.40% $11,377
First Federal Savings Bank of Twin Falls 8 5.16% $11,646
TOP FLITE FINANCIAL, INC. 8 5.78% $14,445
INTERCAP LENDING INC. 8 5.08% $13,346
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 8 4.92% $12,164
TBI MORTGAGE COMPANY 7 4.52% $16,916
HOMESIDE FINANCIAL, LLC 7 4.18% $13,834
Ixonia Bank 7 5.45% $16,033
Summit Mortgage Corporation 6 5.04% $16,666
First Home Bank 6 3.54% $16,281
LAND HOME FINANCIAL SERVICES, INC. 6 6.67% $13,687
Washington Trust Bank 6 5.21% $11,934
JPMorgan Chase Bank 6 4.65% $10,508
GENEVA FINANCIAL, LLC 6 4.54% $13,023
Bank of England 6 4.46% $16,906
Sunflower Bank 6 5.12% $15,061
MORTGAGE SOLUTIONS OF COLORADO, LLC 5 5.00% $9,949
Banner Bank 5 3.80% $11,731
Sierra Pacific Mortgage Company, Inc. 5 5.83% $12,539
VILLAGE CAPITAL MORTGAGE 5 3.10% $5,290
WESTMARK Credit Union 5 4.60% $5,113
The Federal Savings Bank 5 5.35% $19,832
ON Q FINANCIAL, INC. 5 5.43% $8,189
ZILLOW HOME LOANS, LLC 5 3.85% $10,705
First Guaranty Mortgage Corporation 5 3.98% $9,176
PRIORITY HOME LENDING, LLC 4 5.28% $19,946
JMJ FINANCIAL GROUP 4 5.22% $15,357
T2 FINANCIAL LLC 4 5.28% $16,027
CHERRY CREEK MORTGAGE, LLC 4 4.63% $6,443
Wells Fargo Bank 4 4.94% $7,342
EAGLE HOME MORTGAGE, LLC 4 5.78% $22,114
SUN WEST MORTGAGE COMPANY, INC. 4 5.41% $13,150
KeyBank 4 4.34% $8,963
SECURITYNATIONAL MORTGAGE COMPANY 4 5.47% $15,083
CITYWIDE HOME LOANS, LLC 4 4.38% $12,377
Zions Bank 3 5.83% $11,885
BELEM SERVICING LLC 3 5.29% $10,096
CALCON MUTUAL MORTGAGE LLC 3 4.29% $19,322
Century Mortgage Company DBA Century Lending Company 3 6.33% $8,602
LADERA LENDING, INC. 3 5.50% $15,781
Neighborhood Loans, Inc. 3 5.50% $11,559
Northpointe Bank 3 4.08% $12,534
PLAZA HOME MORTGAGE, INC. 2 5.13% $14,466
1st Security Bank of Washington 2 6.06% $15,047
DRAPER AND KRAMER MORTGAGE CORP. 2 5.00% $10,484
SWBC MORTGAGE CORPORATION 2 4.56% $15,971
Franklin Loan Corporation 2 5.00% $18,600
LIBERTY HOME MORTGAGE CORPORATION 2 5.19% $15,670
Florida Capital Bank 2 4.00% $13,912
Network Funding, L.P. 2 5.69% $17,528
M&T Bank 2 4.56% $9,540
Lend Smart Mortgage, LLC 2 3.19% $9,967
Commerce Home Mortgage, Inc. 2 5.50% $16,987
SOUTHWEST STAGE FUNDING, LLC 2 3.38% $7,877
AMERICAN FINANCIAL RESOURCES, INC. 2 4.81% $12,398
Mortgage Research Center, LLC 2 5.44% $4,163
Peoples Bank 2 4.31% $12,900
NETWORK CAPITAL FUNDING CORPORATION 2 4.63% $8,238
KELLER MORTGAGE, LLC 1 6.13% $17,381
Hometown Lenders, Inc. 1 5.13% $9,121
HomeStreet Bank 1 7.25% $9,080
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.25% $7,515
SECURITY HOME MORTGAGE, LLC. 1 3.13% $10,469
Flanagan State Bank 1 4.25% $18,295
SIRVA MORTGAGE, INC. 1 3.63% $11,414
Stride Bank 1 5.50% $10,764
First Western Trust Bank 1 3.25% $9,999
First Interstate Bank 1 4.25% $10,071
FirstBank 1 2.75% $8,435
DIRECTORS MORTGAGE, INC. 1 3.25% $8,653
DIRECT MORTGAGE, CORP. 1 2.75% $10,800
Texana Bank 1 4.88% $11,854
CUSTOMER SERVICE MORTGAGE CORPORATION 1 5.25% $9,861
TJC Mortgage, Inc. 1 3.75% $9,486
CLEARPATH LENDING 1 2.99% $10,135
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 5.75% $11,060
Citizens Bank 1 2.88% $8,680
US MORTGAGE CORPORATION 1 5.50% $15,444
Utah Mortgage Loan Corporation 1 6.25% $8,116
CENTENNIAL LENDING, LLC 1 5.25% $9,609
Cache Valley Bank 1 4.63% $13,425
Victorian Finance, LLC 1 5.63% $18,244
BNC National Bank 1 6.13% $10,443
BKCO MORTGAGE, LLC 1 5.50% $14,596
BECKAM FUNDING CORP. 1 3.75% $8,691
Barrington Bank & Trust Company, N.A. 1 3.32% $7,581
AmeriHome Mortgage Company, LLC 1 4.63% $10,977
Wheatland Bank 1 5.50% $10,781
Wyndham Capital Mortgage, Inc. 1 4.00% $18,440
Alaska USA Federal Credit Union 1 4.88% $17,842
BETTER MORTGAGE CORPORATION 1 4.63% $13,803
NEW DAY FINANCIAL, LLC 1 5.49% $4,213
NBKC BANK 1 3.75% $6,639
NBH Bank 1 5.63% $6,248
OCEANSIDE MORTGAGE COMPANY 1 2.99% $2,147
OCMBC, INC. 1 5.25% $12,560
NATIONS DIRECT MORTGAGE, LLC 1 2.99% $6,501
MYCUMORTGAGE, LLC 1 3.38% $10,873
PANORAMA MORTGAGE GROUP, LLC 1 5.63% $17,302
Paramount Bank 1 5.75% $17,730
PHH Mortgage Corporation 1 4.25% $4,568
Plains Commerce Bank 1 6.75% $17,158
MORTGAGE MANAGEMENT CONSULTANTS, INC. 1 6.88% $5,996
Magnolia Bank 1 7.13% $14,735
LOANLEADERS OF AMERICA, INC. 1 5.63% $14,394
Prime Choice Funding Inc. 1 2.50% $12,429

The top Idaho FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 247 FHA loans originated. Their average total fees are $12,629, which is $691 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Idaho FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($3,884), VAN DYK MORTGAGE CORPORATION ($7,787), EVERETT FINANCIAL, INC. ($7,806), LAKEVIEW LOAN SERVICING, LLC ($8,830) and ADVANTAGE PLUS ($9,386).

The lowest rate Idaho FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC (4.07%), LOANPAL, LLC (4.12%), CARDINAL FINANCIAL (4.23%), QUICKEN LOANS, LLC (4.25%) and PENNYMAC LOAN SERVICES, LLC (4.29%).

Idaho FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
BOISE CITY, ID ADA 2022 $515,200 $659,550 $797,250 $990,800
NON-METRO ADAMS 2022 $420,680 $538,650 $651,050 $809,150
POCATELLO, ID BANNOCK 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO BEAR LAKE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO BENEWAH 2022 $420,680 $538,650 $651,050 $809,150
BLACKFOOT, ID BINGHAM 2022 $420,680 $538,650 $651,050 $809,150
HAILEY, ID BLAINE 2022 $648,600 $830,300 $1,003,650 $1,247,300
BOISE CITY, ID BOISE 2022 $515,200 $659,550 $797,250 $990,800
SANDPOINT, ID BONNER 2022 $427,800 $547,650 $662,000 $822,700
IDAHO FALLS, ID BONNEVILLE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO BOUNDARY 2022 $420,680 $538,650 $651,050 $809,150
IDAHO FALLS, ID BUTTE 2022 $420,680 $538,650 $651,050 $809,150
HAILEY, ID CAMAS 2022 $648,600 $830,300 $1,003,650 $1,247,300
BOISE CITY, ID CANYON 2022 $515,200 $659,550 $797,250 $990,800
NON-METRO CARIBOU 2022 $420,680 $538,650 $651,050 $809,150
BURLEY, ID CASSIA 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CLARK 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CLEARWATER 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CUSTER 2022 $420,680 $538,650 $651,050 $809,150
MOUNTAIN HOME, ID ELMORE 2022 $420,680 $538,650 $651,050 $809,150
LOGAN, UT-ID FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
REXBURG, ID FREMONT 2022 $420,680 $538,650 $651,050 $809,150
BOISE CITY, ID GEM 2022 $515,200 $659,550 $797,250 $990,800
NON-METRO GOODING 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO IDAHO 2022 $420,680 $538,650 $651,050 $809,150
IDAHO FALLS, ID JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
TWIN FALLS, ID JEROME 2022 $420,680 $538,650 $651,050 $809,150
COEUR D'ALENE, ID KOOTENAI 2022 $483,000 $618,300 $747,400 $928,850
MOSCOW, ID LATAH 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO LEMHI 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO LEWIS 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO LINCOLN 2022 $420,680 $538,650 $651,050 $809,150
REXBURG, ID MADISON 2022 $420,680 $538,650 $651,050 $809,150
BURLEY, ID MINIDOKA 2022 $420,680 $538,650 $651,050 $809,150
LEWISTON, ID-WA NEZ PERCE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO ONEIDA 2022 $420,680 $538,650 $651,050 $809,150
BOISE CITY, ID OWYHEE 2022 $515,200 $659,550 $797,250 $990,800
ONTARIO, OR-ID PAYETTE 2022 $420,680 $538,650 $651,050 $809,150
POCATELLO, ID POWER 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO SHOSHONE 2022 $420,680 $538,650 $651,050 $809,150
JACKSON, WY-ID TETON 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
TWIN FALLS, ID TWIN FALLS 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO VALLEY 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
BOISE CITY, ID ADA 2023 $586,500 $750,800 $907,550 $1,127,900
NON-METRO ADAMS 2023 $472,030 $604,400 $730,525 $907,900
POCATELLO, ID BANNOCK 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO BEAR LAKE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO BENEWAH 2023 $472,030 $604,400 $730,525 $907,900
BLACKFOOT, ID BINGHAM 2023 $472,030 $604,400 $730,525 $907,900
HAILEY, ID BLAINE 2023 $740,600 $948,100 $1,146,050 $1,424,250
BOISE CITY, ID BOISE 2023 $586,500 $750,800 $907,550 $1,127,900
SANDPOINT, ID BONNER 2023 $523,250 $669,850 $809,700 $1,006,250
IDAHO FALLS, ID BONNEVILLE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO BOUNDARY 2023 $472,030 $604,400 $730,525 $907,900
IDAHO FALLS, ID BUTTE 2023 $472,030 $604,400 $730,525 $907,900
HAILEY, ID CAMAS 2023 $740,600 $948,100 $1,146,050 $1,424,250
BOISE CITY, ID CANYON 2023 $586,500 $750,800 $907,550 $1,127,900
NON-METRO CARIBOU 2023 $472,030 $604,400 $730,525 $907,900
BURLEY, ID CASSIA 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CLARK 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CLEARWATER 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CUSTER 2023 $472,030 $604,400 $730,525 $907,900
MOUNTAIN HOME, ID ELMORE 2023 $472,030 $604,400 $730,525 $907,900
LOGAN, UT-ID FRANKLIN 2023 $492,200 $630,100 $761,650 $946,550
REXBURG, ID FREMONT 2023 $472,030 $604,400 $730,525 $907,900
BOISE CITY, ID GEM 2023 $586,500 $750,800 $907,550 $1,127,900
NON-METRO GOODING 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO IDAHO 2023 $472,030 $604,400 $730,525 $907,900
IDAHO FALLS, ID JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
TWIN FALLS, ID JEROME 2023 $472,030 $604,400 $730,525 $907,900
COEUR D'ALENE, ID KOOTENAI 2023 $572,700 $733,150 $886,200 $1,101,350
MOSCOW, ID LATAH 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO LEMHI 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO LEWIS 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO LINCOLN 2023 $472,030 $604,400 $730,525 $907,900
REXBURG, ID MADISON 2023 $472,030 $604,400 $730,525 $907,900
BURLEY, ID MINIDOKA 2023 $472,030 $604,400 $730,525 $907,900
LEWISTON, ID-WA NEZ PERCE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO ONEIDA 2023 $472,030 $604,400 $730,525 $907,900
BOISE CITY, ID OWYHEE 2023 $586,500 $750,800 $907,550 $1,127,900
ONTARIO, OR-ID PAYETTE 2023 $472,030 $604,400 $730,525 $907,900
POCATELLO, ID POWER 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO SHOSHONE 2023 $472,030 $604,400 $730,525 $907,900
JACKSON, WY-ID TETON 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
TWIN FALLS, ID TWIN FALLS 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO VALLEY 2023 $573,850 $734,650 $888,000 $1,103,550
NON-METRO WASHINGTON 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).