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At IdaMortgage we understand how important it is for you as a home buyer to find the right type of Idaho Home loan and receive the lowest interest rate…period.
Review our loan programs and click below to check your eligibility
for one of our below market rate loans today.
You may also be eligible for our Down payment assistance programs that could help you get into your new home.
IdaMortgage and its participating lenders are available to provide you with excellent customer service that will help make the process of securing your IdaMortgage home loan easy and convenient. We look forward to being "Your Key to Housing Opportunities."
IdaMortgage Loans are not only just for first-time homebuyers
| 30-Year Loan Products |
Advantage
Conventional
Add 1/2% for lender paid MIP
|
FHA/VA Loan
|
EA1 Automated Approval
|
|
0
1
2 |
6.000%
5.750%
5.625%
|
| - | No first-time homebuyer requirement |
| - | No sales price limits |
| - | Below-market fixed rate product for higher-income borrowers* |
| - | May be used for purchase or refinance |
|
0
1
2 |
6.250%
6.000%
5.750% |
0
1
2 |
6.375%
6.125%
6.000% |
First Loan
Conventional
Add 1/2% for lender paid MIP
|
FHA/VA/RD Loan
|
|
0
1
2 |
5.930%
5.700%
5.490% |
| - | First-time homebuyer requirement may apply* |
| - | Sales price limits apply* |
| - | Lowest fix rate product for low-to-moderate income borrowers* |
| - | May be used with Conventional, FHA, VA, and RD loans |
|
0
1
2 |
5.390%
5.240%
5.100% |
| 40-Year Loan Product |
Advantage
Add 1/2% for lender paid MIP
|
0
1
2 |
6.375%
6.125%
6.000% |
| - | No first-time homebuyer requirement |
| - | No sales price limits |
| - | Below-market fixed rate product for higher-income borrowers* |
| - | May be used with conventional loans only |
| - | May be used for purchase or refinance |
|
*See Borrower Requirements for more details
Note: Lender paid MIP maximum is 2.50%
IdaMortgage Loan Options:
Conventional Loan - This is a traditional home loan, and home buyers can choose to make a minimum down-payment of 5% or more, or opt for IHFA's 100% down payment financing loan product.
FHA Loan - Unlike some inflexible mortgage programs, the FHA mortgage is more attainable for people with little or no credit. This is a key factor in why people choose an FHA loan. This home loan was created by the federal government and provides affordable home financing for qualified borrowers.
VA Loan - This home loan enables eligible military veterans to buy a home with no down payment. The term "Veteran" includes certain members of the selected Reserve, active duty service personnel and certain categories of spouses.
RD Loan - This home loan is for homebuyers who would like to buy a home with no down payment, in a rural community.
Definitions:
Discount Points - *Each discount point represents one percent of the loan amount. Either the buyer or seller can pay a discount point to permanently "Buy down" the interest rate. This amount is separate from any down payment required on the loan.
Stepped Interest Rate Mortgages - ** In stepped interest rate mortgages the lower mortgage rate is applicable for the first three years and the higher rate applies from year four until the loan is repaid.
Property Types:
Single-family dwelling (townhouses or condos included).
Manufactured housing (doublewide and on foundation).
Income Limits and Sales Price Limits:
Click here to view a list of income limits and sales price limits by county.
No IRS Recapture
For borrowers whose loan closed on or after May 19, 2004, and haven't refinanced
out of our program, IdaMortgage will fully reimburse you for any recapture tax the IRS
imposes, provided no new wage earner is included in the home for two years after
the time the loan was made.
Contact IdaMortgage
Click here for more information on how to contact someone who can talk with you about the IdaMortgage loan program or the application process.
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Loan Program