Mortgage Calculator MLcalc

Mortgage Calculator /With Taxes and PMI /Idaho

Idaho Mortgage Calculator

Set to Idaho’s own property tax rate of 0.43% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($89,200)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$2,564
Monthly payment
$2,274
Principal & interest
$160
Taxes
$130
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $356,800 Interest paid $461,848
20262056
Total of 360 payments$923,018
Principal$356,800
Interest$461,848
Taxes$57,540
Insurance$46,830
HOA fees$0
P&I 88.7% Taxes 6.2% Insurance 5.1%
15- vs 30-year term at 6.58%
15-year
$3,124/mo P&I
$205,488 total interest
30-year · current
$2,274/mo P&I
$461,848 total interest
The 15-year term saves $256,360 in interest. Which term is right for you?

What these numbers come from

Median home value
$446,400
Median tax bill
$1,912
Effective tax rate
0.43%
Rank of 51
49th highest

Idaho taxes property at about 0.43% of value against 0.89% nationally. On a $446,000 home that is $171 a month less than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across Idaho home prices

20% down, 30-year fixed at 6.58%, with Idaho property tax of 0.43% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$268,000 $214,400 $1,366 $96 $1,541
$357,000 $285,600 $1,820 $128 $2,052
$446,000 median $356,800 $2,274 $160 $2,564
$558,000 $446,400 $2,845 $200 $3,208
$670,000 $536,000 $3,416 $240 $3,852

The gap between the P&I column and the last one is what a mortgage quote leaves out. In Idaho taxes alone add $160 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $318 $1,956 $290 $356,482
Sep $319 $1,955 $290 $356,163
Oct $321 $1,953 $290 $355,842
Nov $323 $1,951 $290 $355,519
Dec $325 $1,949 $290 $355,195
2026 $1,605 $9,765 $1,450 $355,195
Jan $326 $1,948 $290 $354,868
Feb $328 $1,946 $290 $354,540
Mar $330 $1,944 $290 $354,210
Apr $332 $1,942 $290 $353,878
May $334 $1,940 $290 $353,545
Jun $335 $1,939 $290 $353,209

Refinancing in Idaho

The arithmetic is the same everywhere: refinancing pays off when the monthly saving clears the closing costs before you sell or refinance again. What differs by state is the cost of getting there — recording fees, transfer and mortgage taxes, and whether an existing tax assessment survives the new loan.

Work the break-even with the refinance calculator, or check this week’s national average rates.

Idaho home loans in detail

Idaho Mortgage Overview

Idaho is known as the 'Gem State' because it is abundant in natural resources. Residents of Idaho love the incredible weather, natural beauty, and the large number of outdoor activities available year-round.

The average home price in Idaho is around $475,000 and the median household income is around $75,000.

If you're thinking of buying a home in Idaho, you have many mortgage options available:

Idaho conventional loans

Borrowers with great credit have good luck with the Idaho conventional loans. You'll need low debt ratios and stable income and employment. Borrowers can get a loan with just 3 percent down on their first home, but you'll pay Private Mortgage Insurance until you pay the loan balance down to less than 80 percent of the home's value.

Idaho FHA loans

Borrowers with hiccups on their credit or a lot of debt, do better with FHA loans. The FHA program requires just 3.5 percent down, but allows credit scores as low as 580. FHA loans have flexible underwriting guidelines, but in exchange, they require mortgage insurance for the life of the loan. If your credit score is between 500 - 579, you may still qualify, but with a 10 percent down payment.

Idaho VA loans

Veterans with a stable income and 'decent' credit can take advantage of the VA loan program. You'll get 100 percent financing (no down payment), and flexible underwriting guidelines. As long as you meet the program's disposable income requirements for your area and family size, you'll be on your way to buying your first home with a VA loan.

Idaho USDA loans

USDA loans are an option for borrowers who don't qualify for any other loan program. You must make less than 115% of the average income for your area of Idaho and live in the home as your primary residence. USDA loans provide 100 percent financing and flexible underwriting guidelines for borrowers.

First-Time Homebuyer Programs in Idaho

Homebuyer Tax Credit

The Idaho Housing and Finance Association allows first-time homebuyers to take a tax credit for up to 35 percent of the interest paid on the loan each year (up to $2,000). Borrowers who meet the income requirements and who are first-time homebuyers are eligible.

Down payment and closing cost assistance

If you have good credit the down payment and closing cost assistance from the IHFA provides two options:

Second mortgage

Receive up to 3.5 percent of the sales price as a second mortgage at 5 percent for 10 years. Borrowers with a 640 credit score who are first-time homebuyers may qualify.

Forgiven loan

Receive up to 3.5 percent of the sales price as a forgivable loan over 7 years. You must contribute 0.5 percent of the sales price of your own funds.

Idaho mortgage FAQ

How much is property tax on a home in Idaho?
Idaho homeowners pay an effective property tax rate of about 0.43 percent of home value — the 49th highest of the 50 states and DC. On the state's median home value of $446,400 that works out to roughly $1,918 a year, or $160 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced Idaho home?
At $446,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $2,274 a month. Adding Idaho property tax of roughly $160 a month and an estimated $130 of homeowner insurance brings the full payment to around $2,564.
What mortgage options do Idaho homebuyers have?
Idaho offers conventional loans with just 3 percent down for buyers with strong credit, though PMI applies until the balance drops below 80 percent of the home value. FHA loans need 3.5 percent down with a 580 score, or 10 percent down for scores of 500 to 579. VA loans give veterans 100 percent financing, and USDA loans finance 100 percent for those earning under 115 percent of the area average.
What programs does Idaho have for first-time buyers?
The Idaho Housing and Finance Association offers a Homebuyer Tax Credit worth up to 35 percent of the mortgage interest paid each year, plus two down payment and closing cost options, either a second mortgage of up to 3.5 percent of the sales price repaid at 5 percent over 10 years for buyers with a 640 credit score, or a loan forgiven over 7 years if you contribute 0.5 percent yourself.
How much is the minimum down payment in Idaho?
Veterans can buy with zero down through the VA program, and USDA loans also require no down payment for eligible lower income buyers in qualifying areas. Otherwise, conventional loans start at 3 percent down on a first home and FHA loans at 3.5 percent with a 580 credit score, rising to 10 percent for scores between 500 and 579.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.