Getting the right mortgage for a Idaho home a little more difficult than you thought? Annoyed with WebPages that don’t help you find what you are looking for? That is why Mortgage-Info.us is here. So if you are looking for lenders, Mortgage Rates, or Mortgage Brokers – we’ve got it. Plus when you fill out a mortgage quote form from Mortgage-Info.us, we will get you offers from 2-4 different lenders, meaning you will be able to choose the rate that you want.
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Featured Mortgage Lenders in Idaho
Idaho Mortgage Quick Facts
Idaho State Population: 1,293,953*
Median Idaho Home Price: $106,300*
Idaho Home Ownership Rate: 72.4%*
Types of Loans Available in Idaho
- Fixed Rate Mortgage Loans
- Second Mortgage Loans
- Adjustable Rate Mortgage Loans
- Interest only Mortgage loans
- LIBOR Mortgage Loans
- Cash Out Mortgage Loans
- Home Purchase Mortgage Loans
- Reverse Mortgage Loans
- Refinance Loans
- Home Equity Line of Credit Mortgage Loans
- Home Equity Loan
- Other Special Mortgage Loans
How Your Credit Score Affects Your Mortgage Rate
First you need to know what your current credit score is. You should compare that against the average Idaho consumer credit score which is 691. The average national credit score is 677. Your credit score will impact what your home mortgage rate could be. Historically, home mortgage rates have varied from 5% to over 13%. Lenders create their home mortgage rates by using the Federal Discount Interest Rate (FDIR) and then raising it by using an internal formula to create their own home mortgage rate. When you apply for a home mortgage, your home mortgage rate will be determined by a whole host of factors, but your credit is a very important factor.
Idaho Mortgage State Laws
Idaho uses trust deeds instead of mortgages. A trust deed is a written instrument legally conveying property to a trustee often used to secure an obligation such as a mortgage or promissory note. The trustee generally holds the title of the property under this system.
Idaho Residential Mortgage Practices Act
This Act went into effect on July1, 1996. Mortgage brokers must be licensed. Real Estate brokers and other salespersons that helped people with mortgage loans before 1996 did not need a mortgage broker license. After this Act, they must secure licenses. The department of Finance was given more power to abolish predatory mortgage lending. Foreclosure can be non-judicial.
State of Idaho, Department of Finance
700 West State Street, 2nd Floor
Boise, ID 83720-0031
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This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.