Idaho Mortgage Refinance

The 203,770 residents in Idaho can lower their monthly mortgage payment by refinancing their homes. Currently rates in Idaho range from 5.02% APR to 5.33% APR on a 30 year fixed rate refinance product or 4.29% APR to 4.79% APR for a 15 year fixed product. Before refinancing your Idaho home, borrowers should understand the basics of mortgage loan refinance. In addition to having a good to excellent credit score, Idaho borrowers should borrow 80% or less of the home’s value to receive the lowest rate possible. Another way to receive a lower rate is to select a mortgage with a shorter amortization period. Compare home vales, sale prices and mortgage rates from a variety of lenders to see which product is the best fit. For example, homes in Wilder (83676) value from $118,162 to $138,712, whereas home values in Eagle (83616) run from $702,822 to $825,052. In addition to comparing home values, review sale prices. The average property price in Idaho is $193,847; however homes in areas such as Greenleaf (83626) have sold for $103,634. Home sales in Garden City (83714) were $680,000 and homes in Caldwell (83607) sold for $280.00.