What are the best Idaho lenders for a conventional 30-year mortgage with 5-10% down?
Idaho has competitive conventional pricing - work with a broker who shops 100+ lenders rather than a single retail bank. Best rate at 755 FICO is typically through wholesale.
Idaho conventional mortgage rates are competitive due to Idaho's strong home-price appreciation and low default rates. At 755 FICO with 5-10% down on a conventional 30-year, you're looking at top-tier pricing from most lenders. The strategic question is retail vs broker: a retail lender (Caliber, Quicken/Rocket, local Idaho banks) quotes you THEIR rate; a wholesale broker (like Rate Direct) quotes you the cheapest rate among 100+ wholesale lenders. The wholesale advantage on a 755-FICO conventional is typically 0.125-0.375% lower than retail. On a $400K loan over 30 years, that's $12K-$36K in interest savings. Common Idaho-specific considerations: Boise / Meridian / Eagle markets are tight - sellers prefer buyers with strong pre-approvals from named lenders. Idaho Housing and Finance Association (IHFA) offers down-payment assistance for first-time buyers up to 7% in some programs. Stack-able with conventional. Property tax in Idaho is on the lower side (0.6-1.0%), so PITI is friendly. Investor / 2nd-home in resort areas (Sun Valley, McCall, Coeur d'Alene) prices slightly higher than primary-residence due to the recreational-property risk premium.
People also ask
Should I go with my local Idaho credit union or a national lender?
Idaho Central Credit Union (ICCU) is competitive on jumbo and portfolio products. For standard conventional 30-year, wholesale-broker pricing is usually 0.125-0.25% better even after broker compensation.
Are there current Idaho rate promotions worth waiting for?
Idaho lender promotions tend to be in the form of seller-credit absorption (lender contributes to closing costs) or 2-1 buydowns rather than rate reductions. Promo cycles run quarterly - ask your broker what's current.
How much higher is the rate at 5% down vs 10% down?
Typically 0.125-0.25% higher at 5% down due to PMI cost factored in. With FICO 755, PMI is reasonable. With 20% down, PMI drops entirely.
Got a specific scenario?
Tell us the details - we'll come back with current pricing for your exact situation.