Boise Mortgage Rates
There are plenty of perks that come with living in Boise, ID. For starters, Boise offers a plethora of outdoor activities thanks to its wonderful natural landscapes and incredible climate. From hiking to mountain biking, to boating, and even surfing, there’s no shortage of things to do to enjoy the great outdoors in Boise.
Boise is also one of the safest cities to live in Idaho, not to mention the country. The city was recently ranked the 8th safest city in the world, according to MSN. Anyone looking to buy a home and move to a new city will certainly want to know what the crime rate is like before moving. Luckily for them, Boise fits the bill.
Boise is a more affordable city to call home compared to other centers in the west. As of January 2024, the median home price in Boise is $459,653.
Besides housing, other costs of living are also less expensive in Boise, including things such as taxes, medical care, utilities, and even kids’ activities and lessons. Boise’s cost of living is less expensive compared to other cities in neighboring states.
If you’re on the prowl for a home in Boise, there are plenty of amazing neighborhoods to choose from. Buyers should team up with a seasoned mortgage company to help them secure the right mortgage with terms and rates that suit their budget. And Sammamish Mortgage can help in this department.
Understanding Your Quote and Percentage Rate
Your rate quote is based on a variety of factors (including your credit score, down payment, and purchase price) and delivers the most accurate results possible based on your inputs.
- Detailed costs breakdown: Click on the “view” tab under “details” to see an itemized list of all estimated costs.
- Rate & APR: Your rate is the anticipated interest rate. The APR is the total cost of your loan, expressed as an annual percentage rate.
- Origination charges: Sammamish Mortgage doesn’t charge industry-standard lender fees, so the amount for “origination fee” will typically be zero.
- Discount points: You can buy “points” by paying an amount for each point equal to 1% of the purchase price, and lower your interest rate by up to a quarter of a percent for each point purchased.
- Monthly mortgage payment: This includes the principal and interest included in your base monthly payment.
- Estimated third-party charges: This includes the wide range of fees included in your closing costs.
- Closing costs: The closing cost total listed includes everything except prepaid items such as property taxes, homeowner’s insurance, and daily interest.
- Private mortgage insurance premiums: PMI is required on loan to value (LTV) ratios over 80% (except on VA loans). We offer reduced PMI options with as little as 3% down.
- Rate locks: We can lock your rate from 30 up to 180 days.
One of the big advantages of applying for mortgage rate quotes and pre-approval through Sammamish Mortgage is that we charge none of the traditional lender fees added by mortgage brokers.
We also pay our Loan Officers a salary instead of a commission based on the loan amount, so they are motivated to help you find the best home loan, not just sell you the biggest loan.
If you are ready to move forward, you can view rates, obtain a customized quote using our Instant Rate Quote tool, or apply for pre-approval directly from our website.