Idaho mortgage payment calculator

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Idaho at a glance

Median home price
$503,400
Typical closing costs
2%–5% of price
Transfer tax
None
Closing custom
escrow
Homestead exemption
Idaho has two distinct 'homestead' protections that are easy to conflate. (1) Property-tax Homeowner's Exemption (Idaho Code 63-602G): exempts the lesser of $125,000 of assessed value or 50% of assessed value from property tax (school/local levies), applied automatically once approved and reset each Jan 1 for the tax year of a complete application; must be owner-occupied as primary residence. This figure was raised from $100,000 effective for the 2026 tax year. (2) Creditor/bankruptcy homestead exemption (Idaho Code 55-1003, Title 55 Ch. 10): protects up to $175,000 of equity in an owner-occupied home from most creditors' judgments and in bankruptcy — a asset-protection statute, not a tax break. The two figures ($125,000 vs $175,000) serve entirely different purposes and are commonly confused in secondary sources.

First-time buyer / down payment assistance programs

  • Idaho Housing and Finance Association (IHFA) Home Loan Program

    Idaho Housing and Finance Association, the state's HFA, offers Conventional, FHA, VA, and USDA/Rural Development first-mortgage loan products through participating lenders statewide for households earning up to $170,000/year. Numerous secondary/lender sites refer to this informally as the 'First Loan' program, but that specific branding is not used on IHFA's current live homebuyers pages (which describe the offering generically as 'home loans' / 'home mortgage loan products').

  • Idaho Housing Down Payment and Closing Cost Assistance

    Second-mortgage assistance from Idaho Housing and Finance Association providing up to 8% of the home's sales price toward down payment and/or closing costs, repaid via small monthly payments alongside the first mortgage (structured as a second mortgage, roughly 15-year term per secondary sources; exact rate/term not stated on IHFA's own page). Available to both first-time and repeat Idaho homebuyers, not restricted to first-timers.

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Affordability calculator

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PMI removal calculator

When your PMI is scheduled to end, by law and by request.

Mortgage points calculator

Should you buy down your rate? Break-even and lifetime cost comparison.

Related reading

Closing Costs in Idaho: What You'll Actually Pay

9 min read

Idaho charges no real estate transfer tax at all, so closing on the $503,400 median home runs about $10,068 to $25,170 — and none of it is deed tax.

What Is PMI, and How Do You Get Rid of It?

15 min read

Private mortgage insurance explained in plain English — what it costs, why it exists, the exact federal rules for cancelling it, and how to work out the month your PMI is scheduled to end.

Guides & templates

Buying a Home With Someone Else

$4.99

The operational guide to buying property with a partner, friend, sibling, or parent — credit and DTI mechanics, title vesting, a clause-by-clause co-ownership agreement, and how the exit actually works.

The First-Time Buyer's Playbook: 12 Months to Closing Day

$4.99

A month-by-month plan for the year before you buy: what to do in each phase, what never to touch, how to document every dollar, and how to survive closing day.