Idaho Mortgage Rates Today
The real estate market in the State of Idaho has seen significant gains in recent years. Now may be a very good time to enter the Idaho market. If you’re thinking about buying a home in Idaho, Sammamish Mortgage can help. Sammamish Mortgage offers highly competitive mortgage rates for Idaho home purchases. Shopping for the best mortgage rate is critical to ensuring that you create the best financial situation for yourself. Sammamish Mortgage can give you a live mortgage rate quote to assist you in the process of buying a home in Idaho.
The Idaho Markets Continues to Draw New Buyers
The Idaho State real estate market just might be the “next big thing.” If we look at the numbers, this idea seems to be credible. Idaho currently has a statewide median home value of approximately $447,197. But it has experienced double-digit gains over the most recent 12 month period. And it is currently classified as a “hot” market. This means that if you decide to enter the Idaho market right now, you’re likely to encounter a competing offer from another interested buyer. And it’s very possible that you may end up paying a price which is significantly higher than the original asking price.
Idaho has a number of highly desirable cities, such as Boise, Pocatello, Twin Falls, and Nampa. Cities such as Boise have experienced huge gains in recent years and may be a great area for investment. Idaho also boasts parks of national recognition, including Sawtooth National Forest and Salmon Challis National Forest. If you like the outdoors, Idaho is practically unbeatable. There’s ample opportunity for hiking, fishing, and various other outdoor recreational activities. View Idaho Market forecast for 2022.
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 preapproval 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 preapproval directly from our website.