Idaho Mortgage and Refinance Rates

Current mortgage rates in Idaho

As of Tuesday, April 29, 2025, current mortgage interest rates in Idaho are 6.96% for a 30-year fixed mortgage and 6.35% for a 15-year fixed mortgage.

While it’s impossible to know where rates will head next, experts believe that rates will 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 whatever happens in the broader economy tends to trickle down to the housing market.

Refinance rates in Idaho

Refinance rates in Idaho 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 increased by nearly 14 percent versus the year before, according to ATTOM. 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:

Idaho mortgage rate housing market statistics and trends

Mortgage rates in Idaho have followed closely with rates nationwide throughout 2025, hovering around 7 percent. However, there is good news for buyers in Idaho: The state’s housing market has started to cool. Redfin data shows that median home prices had only increased by 0.4 percent in February compared with the year before.

Known for scenic views — including the Shoshone Falls and Hell’s Canyon — the Gem State has more than spuds to offer. If you’re thinking about buying a home in Idaho, check out these statistics:

• Median sales price, Feb. 2025: $484,700
• Median days on market, Feb. 2025: 71
• Median down payment, Feb. 2025: $29,500
• Homeownership rate, Q4 2024: 71.6%

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. You can get an FHA loan with a credit score of 580 and a down payment of 3.5 percent.
• 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 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 pay low or no mortgage insurance.
• 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.

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.

Read more from Andrew Dehan

Edited by: Laurie Dupnock, Editor, Home Lending

I’ve spent five years in writing and editing roles, and I now focus on mortgage, mortgage relief, homebuying and mortgage refinancing topics. I’m most interested in providing resources for aspiring first-time homeowners to help demystify the homebuying process. In 2021, I earned a Poynter ACES Certificate in Editing. I have an MA in English. 

Read more from Laurie Dupnock