Home Loans: Idaho
The Gem State is an amazing place to raise a family: the cost of living is 6% lower than the national average, while the homeownership rate of 71.6% is much higher than the nationwide average of 64.1%. And thanks to home loans, Idaho can become a peaceful retreat for even more people.
According to Statista, the average house value in the Gem State is a hefty $430,510. But even in a more affordable market, the average first-time homebuyer needs more savings to purchase a home outright.
With a mortgage, a lender provides financing, which you will pay back over time with interest. You’ll pay back the costs the lender incurs through the interest rate; a portion of your monthly mortgage payment will go toward the interest, with the other part counting toward the principal.
Over the life of the loan, your mortgage shifts toward the principal, and you begin to build home equity that you can access when you refinance or sell your home. Mortgage rates, down payment, and mortgage insurance all determine how much you will pay each month.
A Mortgage Lets You Afford Your Dream Home in the Gem State
We recognize that financing the purchase or refinancing of a property can be challenging.
get a FREE quoteWhether you're a first-time homebuyer or looking to refinance, our team of experienced professionals is here to guide you through the refinance or home-buying process and help you find the right mortgage for your needs.
Home Loan Options in Idaho
Buying a home can be incredibly expensive. Our loan officers will help you find programs to reduce expenses so that you can start developing home equity.
Homeownership Assistance Programs by HUD
The U.S. Department of Housing and Urban Development (HUD) offers homeownership assistance. These include Federal Housing Administration (FHA) programs that provide mortgage insurance, helping them become homeowners.
First-Time Homebuyer Options
Idaho Housing offers programs for first-time homebuyers that can help with financing and down payment assistance. These include HFA Advantage and HFA Preferred loans, which are backed by Freddie Mac and Fannie Mae respectively, and allow homebuyers to obtain financing with flexible terms.
Down Payment Assistance For Homebuyers
The Idaho Finance and Housing Association will provide up to 10% of the home price, assisting Idahoans in reaching their home ownership goals. Some buyers pay only 0.5% of the total price upfront!
Heroes Loan Program
The Idaho Finance and Housing Association has also launched a special program for first responders and other essential workers to meet their specific needs. With government-backed loans, borrowers can receive up to 7% of the sales price for closing costs, a down payment, and a tax credit to offset the costs of their home purchase.
VA
At District Lending, we can get you the most affordable VA loan and the most reliable lender in the state. Mortgages for veterans, active members, or military spouses come with up to 100% financing, better rates, and no monthly mortgage insurance.
FHA
A Federal Housing Administration loan is one of the best programs for people with lower credit scores. Our extensive experience with lenders will help you get these government-insured mortgages with low down payments.
USDA
The USDA loan has the specific needs of people in rural areas in mind and is ideal if you want to purchase or repair a home in eligible areas.
Why Work With District Lending?
Down Payment Help
Building home equity helps you afford your future dreams — and you shouldn’t let a sizeable down payment stand in the way of that goal. We’ll help you find lenders that meet your specific needs to make the buying process quick and easy.
No-Cost Quote With No Credit Check
Your FICO score is vital to qualifying for a home loan, but inquiries can drop your score by several points. We let you estimate how much mortgage you can afford without making an inquiry, ensuring your score stays pristine.
Mortgage Options that Fit Your Needs
We’ll take a close look at your situation and identify which loan will work best for you, whether that is an FHA, VA, USDA, conventional, or jumbo mortgage. Our loan officers will explain all the options and their value.
Refinancing Assistance
A high mortgage rate can cost you thousands of dollars over the life of your loan. If you’re ready to refinance, whether to save money, shorten the term, or access home equity, our officers will walk you through the process.
Competitive Interest Rates
With an overview of the best lenders in the state, we can help you find the lowest mortgage rates, ensuring our customers get the best value for their purchases.
Closing Cost Options
Buying a home is expensive, and we recognize that not everyone has ample funds on hand. We provide several options to help reduce your upfront expenditures, such as rolling the closing cost into the overall mortgage so you pay over the life of the loan.
Personalized Service
Our loan officers pride themselves on providing customized attention to every home buyer, explaining your options so you get a mortgage that fits your life goals.
Easy Pre-Approval Process
In a hot market, sellers want to see that you’re serious about buying, and pre-approval is one of the best ways to achieve this. We make it easy with our online pre-approval, which can get you a loan estimate so you’re ready to go house hunting or preparing to use your home equity funds.
Convenient Loan Calculators
Various factors go into mortgages, and you want to know how much you can afford before you jump into the housing market. With our online loan calculators, you can check out different variables, such as adjustable-rate versus fixed-rate loan terms, down payment amounts, interest rates, and mortgage premiums, to get an estimate of your purchase expenses.
Choose District Lending for Your Florida Mortgage
At District Lending, we’re dedicated to helping you fulfill your life goal of owning a house. When you choose us as your mortgage broker, you can rely on individualized service, reasonable rates, and a simple mortgage application procedure.
Get in touch with us right away to start the process of buying or refinancing a property and chat with a member of our professional staff.
Invest in your future with District Lending — your reliable partner in mortgage and financing options.
Cities We Service In Idaho
- Tucson
- Phoenix
- Tucson
- Scottsdale
- Scottsdale
- Sedona
- Sedona
- Boise
- Meridian
- Nampa
- Idaho Falls
- Caldwell
- Pocatello
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