Home Mortgage Loans
Let us help you finance your Idaho dream home — whether you’re in Boise, Coeur d’Alene, or anywhere else in our great state. Our experienced lenders will work to get you the most competitive interest rate and affordable payment plan possible.
We’re familiar with the local real estate market in our communities and will walk you through the entire home loan process — from consultation to closing. If you already have a home that you love, refinance your current mortgage loan with us for a better rate.
Get started today — apply online or get a free consultation. You can also start the process by calling us at (888)-676-8088.
- Purchase or refinance your Idaho dream home
- Funds also available for vacation homes and rental property
- Competitive interest rates
- Affordable payment plans tailored to you
- Low closing costs
- Local service and decision-making
- Experienced lenders familiar with the local real estate market
- Dedicated personal service from start to finish
Why should I own instead of rent?
Home ownership is a long-term responsibility, so carefully consider your situation before deciding to buy or rent. Home ownership can build equity for the future and build your credit. Your mortgage may provide tax benefits as interest may be tax deductible (consult your tax advisor). With your own home, you can also make changes or improvements how and when you want.
How much down payment do I need?
The amount of down payment to buy a home will vary based on your loan program. Programs are available with no down payment; however the most common programs require 3% or more of the purchase price. Depending on your circumstances, there are also down payment assistance programs available to first time home buyers. Lastly, be aware that there may be closing costs to pay and some programs may require additional cash reserves.
How much home can I afford?
To determine how much home you can afford, lenders consider your income, assets, amount of down payment, as well as your debts and other financial obligations. A general guideline is that your total debts, including your mortgage, should not exceed 36% of your household income. This is known as you debt-to-income ratio (DTI). Although this is the recommended ratio, it is important to work with your lender to determine what best suits your situation from a payment comfort level and qualification standpoint.
What about my credit?
Home mortgage lenders evaluate your credit using the FICO Score model. Your score is important, but it is only one factor in obtaining a loan. Lenders also consider your income, employment history, and monthly debts.
Do I need to get pre-qualified?
Pre-qualification before you begin shopping for a home gives you the advantage of knowing how much home you can afford. In addition, when you make an offer, pre-qualification lets the real estate agent and seller know you are a serious buyer.
What information do I need for the mortgage process?
The lender will ask for your employment and income, asset, and debt information, plus a history of where you’ve lived. Typically you will need to provide copies of your paystubs from the last thirty days, W-2 tax forms for the past two years, and your two most recent bank and asset statements. Additional information or documents may be required.
How much are closing costs?
Closing costs, depending on your transaction, are typically two to five percent of the price. However, it is common for sellers to pay closing costs on your behalf. Ask your real estate agent if this is an option to include into your contract.
What are mortgage points?
Mortgage points are a form of prepaid interest you can choose to pay upfront to obtain a lower interest rate. One point equals one percent of your total loan amount. For example, one point on a $100,000 loan is $1,000. Your lender can help you decide whether paying points is an option for you.
Do I need a real estate agent?
A real estate agent is not required, but the home buying process can be complex and is most likely the biggest investment you’ll make. An agent can help you understand the current market, point out features and faults with a property that you may not notice, and can assist in negotiating your purchase contract.