Idaho Mortgage and Refinance Rates
Current mortgage rates in Idaho
As of Friday, July 18, 2025, current mortgage interest rates in Idaho are 6.75% for a 30-year fixed mortgage and 5.75% for a 15-year fixed mortgage.
While it’s impossible to know where rates will head next, experts believe they'll settle around the 6 to 7 percent range for much of 2025. There are question marks, however, about how tariffs will impact the economy — and how whatever happens in the broader economy will trickle down to the housing market. But it's unlikely rates will reach 4 or 5 percent anytime soon.
Refinance rates in Idaho
Refinance rates are still significantly above the low rates of the early 2020s, but refinancing activity has picked up in Idaho. In February, the number of refinance loans in the state increased by nearly 14 percent versus the year before, according to ATTOM. If you took out your loan when rates were above 7 percent, it may make sense to refinance now. Experts generally recommend this step if you can reduce your interest rate by half a percentage point or more and plan to stay in the home for at least another three years.
And if you’re remodeling your home or need funds for another purpose, a cash-out refinance might be an option — particularly if your home value has appreciated over the past few years.
National mortgage rates by loan type
If you’d like to see how mortgage rates in Idaho compare to U.S. averages, here’s a look at the current national average rates for various loan types:
| Product | Interest Rate | APR |
|---|---|---|
| 6.77% | 6.83% | |
| 5.95% | 6.05% | |
| 6.44% | 6.50% | |
| 6.47% | 6.51% | |
| 6.78% | 6.84% | |
| 5.68% | 6.53% | |
| 6.20% | 6.48% |
Rates as of Friday, July 18, 2025 at 6:30 AM
Idaho housing market statistics and trends
The median sales price in Idaho is similar to the national median, but there are hopeful trends for first-time buyers. For example, the number of homes for sale is up more than 7 percent year-over-year, and the number of homes with price drops increased by nearly 10 percent during the same period.
- Median home sales price, Feb. 2025: $409,688
- Median home value, Feb. 2025: $456,682
- Median down payment, Feb. 2025: $29,500
- Median days on market, May 2025: 34
- Percentage of homes sold above list price, May 2025: 14.3%
- Percentage of homes with price drops, May 2025: 39.0%
- Homeownership rate, Q1 2025: 69.3%
Sources: Redfin, ATTOM, U.S. Census Bureau
Mortgage options in Idaho
If you’re looking for a mortgage in Idaho, consider these options:
- Idaho conventional mortgages: For a conventional mortgage in Idaho, you’ll generally need a debt-to-income (DTI) ratio of no more than 45 percent and a credit score of at least 620. The minimum down payment is typically 3 percent. At that level, you’ll need to pay private mortgage insurance, or PMI, premiums, as well.
- Idaho FHA loans: If you have a lower credit score, a loan insured by the Federal Housing Administration (FHA) might be a better option. If you have a credit score of at least 580, you can make a down payment of only 3.5 percent with an FHA loan.
- Idaho VA loans: If you’re a qualifying veteran, an active-duty member of the military or a surviving spouse, you can get a mortgage guaranteed by the Department of Veterans Affairs (VA). VA loans don't typically require a down payment or mortgage insurance, but you do need to pay a funding fee.
- Idaho USDA loans: Since Idaho is largely a rural state, there are a lot of properties eligible for loans backed by the United States Department of Agriculture (USDA). Like VA loans, USDA loans don’t require a down payment. However, you’ll need to meet area-specific income requirements.
First-time homebuyer programs in Idaho
Idaho Housing, the state’s housing finance authority, offers many programs to assist with buying a home, including down payment and closing costs assistance. Here are some of the options available:
- Idaho Housing loan: Idaho Housing offers low-interest-rate loans for qualifying buyers. To qualify for a loan, you’ll need to have an annual household income under $170,000. Along with low mortgage rates, you can also qualify for down payment assistance and a low mortgage insurance rate, or pay no mortgage insurance at all.
- Down payment assistance — second mortgage: Along with an Idaho Housing loan to buy your home, you can apply for a second mortgage of up to 7 percent of the home’s sale price to pay for some of the down payment or closing costs. This loan is repaid over 15 years at a rate that’s 2 percent higher than your primary mortgage rate. In addition, you must complete a homebuyer education course and pay at least 0.5 percent of the home purchase price yourself.
How to find the best mortgage rate in Idaho for you
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Step 1: Strengthen your credit score
Long before you start looking for a mortgage lender and applying for a loan, give your finances a checkup, and improve your standing if needed. This means pulling your credit score and credit reports. You’re entitled to a free credit report from each of the three main reporting bureaus, which you can get through AnnualCreditReport.com.
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Step 2: Determine your budget
Get a handle on how much house you can afford. One rule of thumb many buyers use to figure out their price range is the 28/36 rule. Keep in mind that a mortgage lender could qualify you for a loan over your budget, but that would leave no room for unexpected expenses.
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Step 3: Know your mortgage options
There are different types of mortgages, including conventional loans with as little as 3 percent down and government-backed loans.
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Step 4: Compare rates and terms from multiple lenders
Don’t settle on the first lender you talk to. Rate-shop with different lenders — banks, credit unions, online lenders and local independents — to ensure you’re getting the best deal on rates, fees and terms.
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Step 5: Get preapproved for a mortgage
Get a mortgage preapproval with three or four different lenders. This’ll help you understand exactly what loan amount you’d qualify for if you were to apply and prepare you to make offers on homes.
Additional Idaho mortgage resources
- Idaho first-time homebuyer resources: Find out what assistance you may qualify for when buying your first home in Idaho.
- Idaho loan limits by county: Here are the maximum loan limits in Idaho for FHA and conventional loans.
- Idaho mortgage lenders: Learn what kind of mortgage offer you can get from these Idaho mortgage lenders.
- How to buy a house in Idaho: Read our guide to learn the ins and outs of buying a home in Idaho.
- Best homeowners insurance in Idaho for 2025: After your principal and interest, your homeowners insurance is a major part of your mortgage payment. Our guide can help you find the right rate and coverage for your home.
Meet our Bankrate experts
Written by: Andrew Dehan, Writer, Home Lending
I’ve covered mortgages, real estate and personal finance since 2020. At Bankrate, I’m focused on all of the factors that affect mortgage rates and home equity. I enjoy distilling data and expert advice into takeaways borrowers can use. Prior to Bankrate, I wrote and edited for Rocket Mortgage/Quicken Loans. My work has been published by Business Insider, Forbes Advisor, SmartAsset, Crain’s Business and more.
Edited by: Alice Holbrook, Editor, Home Lending
I have been a writer and editor in the personal finance space for more than a decade, with more than three of those focused on homebuying and homeownership. I’ve had work appear in outlets including Newsweek, The Washington Post, The Associated Press, USA Today and MarketWatch.