Idaho USDA Loan Rates, Closing Costs & Stats
Idaho
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 USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Idaho
averaged
6.22%
for the week of 2023-05-26, compared to the national average (all USDA variants) of
6.63% for the same period.
Idaho's average USDA mortgage closing costs are $6,718.
The average rate for the prior week (2023-05-19) was
5.97% and
one month ago for the week of 2023-04-21, the
average rate was 6.07%.
The average rate one year ago was 4.59%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.13%.
Idaho USDA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Idaho level.
The top Idaho USDA lender as defined by loan originations is CANOPY MORTGAGE, LLC, with
18 USDA loans originated. Their average total fees are
$11,144, which is $6
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Idaho USDA lenders (with over 10 loans originated) are
HOME POINT FINANCIAL CORPORATION ($8,598), IDAHO CENTRAL ($9,636), PREMIER MORTGAGE RESOURCES, L.L.C. ($10,321), CANOPY MORTGAGE, LLC ($11,144) and UNITED WHOLESALE MORTGAGE, LLC ($11,150).
The lowest rate Idaho USDA lenders (with over 10 loans originated) are
CANOPY MORTGAGE, LLC (3.82%), IDAHO CENTRAL (3.89%), UNITED WHOLESALE MORTGAGE, LLC (4.60%), HOME POINT FINANCIAL CORPORATION (4.75%) and PREMIER MORTGAGE RESOURCES, L.L.C. (5.27%).