Idaho Mortgage Calculator: Estimate Your Monthly Payment
Updated: January 18, 2024
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As of 2020, about 71.5% of all Idaho residents own a home. This is a small increase from the 70.6% homeownership rate in 2019. The median home value of a house in Idaho is $274,200, while the average outstanding mortgage amount in the state is $171,193. This comes to a difference of $103,007.
The average household income in the state is $5,885 per month, which means that Idaho residents spend almost 20% of their income on mortgage expenses. However, the state’s residents pay $4 less than the national average for monthly mortgage payments.
It is important to know that these figures are based on multiple components. Your monthly mortgage payments may change depending on the cost of your home, the location, your lender and more.
Start Here: Plug In Your Mortgage Factors
MoneyGeek’s Idaho mortgage calculator takes into account every cost involved when buying a home. You can learn more about the most common expenses below.
Why and How to Use Our Mortgage Calculator
Next Steps: What to Do After You Have Estimated Your Mortgage Payments
MoneyGeek’s Idaho mortgage calculator is a comprehensive tool that provides all the rates and homebuyer resources to help you buy your dream home in the state. We also provide information about how to go about buying a home.
- Shop & Compare Rates - Before choosing a lender, make sure to shop around and compare mortgage rates in Idaho.
- Not Ready to Buy? - Our rent vs. buy guide gives you the lowdown on both options. This is helpful if you’re still contemplating on whether to buy or rent a home in Idaho.
- Learn More - You can find more information on which type of mortgage suits your needs by reading more on FHA loans, VA home loans and reverse mortgages.
Frequently Asked Questions About Mortgages in Idaho
sources
- FRED. "Homeownership Rate for Idaho." Accessed March 3, 2022.