Jumbo mortgage loans in Idaho offer higher purchasing limits than those available from conventional loans.
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Idaho is a tried and true Western state, with beautiful mountains, vast agricultural plains, and some of the heartiest winters in the contiguous 48. This lovely mountain state includes communities great and small like Twin Falls and Boise, and features rural settings and urban environments. Whether you love to ski, hunt, or get in a good shopping spree, Idaho has something for you.
Prospective home buyers in Idaho are likely aware the home values in the state are creeping up. According to the World Population Review, the current median price for a home in the state is $320,000. While that is still below conforming limits, Idahoans looking for larger properties or more modern homes could easily exceed limits on conventional mortgages.
For the most recent year, the HDMA data places Idaho 29th in the country in terms of mortgage origination activity, with a total of $3.35 billion in jumbo mortgages originated. If you’re looking for a jumbo mortgage in Idaho whether for a one-unit condo or a large estate, there are plenty of other borrowers just like you taking out these loans, too.
The jumbo loan limit in Idaho for most counties is $726,200. For counties such as Blaine and Camas, the Idaho conforming loan limit is $740,600. Any loan that exceeds either $726,200 or $740,600 is a jumbo loan, depending on the county.
| Idaho County | Idaho Jumbo loan (1-unit) | Idaho Conforming loan limit (1-unit) | Idaho FHA loan limit (1-unit) |
|---|---|---|---|
| Ada | $726,200+ | $726,200 | $515,200 |
| Adams | $726,200+ | $726,200 | $420,680 |
| Bannock | $726,200+ | $726,200 | $420,680 |
| Bear Lake | $726,200+ | $726,200 | $420,680 |
| Benewah | $726,200+ | $726,200 | $420,680 |
| Bingham | $726,200+ | $726,200 | $420,680 |
| Blaine | $740,600+ | $740,600 | $648,600 |
| Boise | $726,200+ | $726,200 | $515,200 |
| Bonner | $726,200+ | $726,200 | $427,800 |
| Bonneville | $726,200+ | $726,200 | $420,680 |
| Boundary | $726,200+ | $726,200 | $420,680 |
| Butte | $726,200+ | $726,200 | $420,680 |
| Camas | $740,600+ | $740,600 | $648,600 |
| Canyon | $726,200+ | $726,200 | $515,200 |
| Caribou | $726,200+ | $726,200 | $420,680 |
| Cassia | $726,200+ | $726,200 | $420,680 |
| Clark | $726,200+ | $726,200 | $420,680 |
| Clearwater | $726,200+ | $726,200 | $420,680 |
| Custer | $726,200+ | $726,200 | $420,680 |
| Elmore | $726,200+ | $726,200 | $420,680 |
| Franklin | $726,200+ | $726,200 | $420,680 |
| Fremont | $726,200+ | $726,200 | $420,680 |
| Gem | $726,200+ | $726,200 | $515,200 |
| Gooding | $726,200+ | $726,200 | $420,680 |
| Idaho | $726,200+ | $726,200 | $420,680 |
| Jefferson | $726,200+ | $726,200 | $420,680 |
| Jerome | $726,200+ | $726,200 | $420,680 |
| Kootenai | $726,200+ | $726,200 | $483,000 |
| Latah | $726,200+ | $726,200 | $420,680 |
| Lemhi | $726,200+ | $726,200 | $420,680 |
| Lewis | $726,200+ | $726,200 | $420,680 |
| Lincoln | $726,200+ | $726,200 | $420,680 |
| Madison | $726,200+ | $726,200 | $420,680 |
| Minidoka | $726,200+ | $726,200 | $420,680 |
| Nez Perce | $726,200+ | $726,200 | $420,680 |
| Oneida | $726,200+ | $726,200 | $420,680 |
| Owyhee | $726,200+ | $726,200 | $515,200 |
| Payette | $726,200+ | $726,200 | $420,680 |
| Power | $726,200+ | $726,200 | $420,680 |
| Shoshone | $726,200+ | $726,200 | $420,680 |
| Teton | $1,089,300+ | $1,089,300 | $970,800 |
| Twin Falls | $726,200+ | $726,200 | $420,680 |
| Valley | $726,200+ | $726,200 | $420,680 |
| Washington | $726,200+ | $726,200 | $420,680 |
If you’re ready to look over the best jumbo loan lenders in Idaho, here are some options to consider.
Keybank has over $170 billion in assets and is the 24th largest bank in the United States. They operate throughout 39 states but can originate mortgages in nearly all 50, making them a popular choice among borrowers throughout the country. One of their key financial products is a jumbo mortgage loan.
We contacted Keybank to learn more about their jumbo loan mortgage rates and here are the key terms and highlights:
When you’re ready to connect with a loan officer experienced in jumbo home loans, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Huntington Bank is the 26th largest bank in the United States. Operating primarily out of the Midwest, their mortgage group can service a large part of the country. Huntington has a competitive jumbo loan product with no money down financing options.
We contacted a loan officer at Huntington Bank to gather information about the jumbo mortgage and here’s what we heard back:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
SoFi is a financial institution based in California that specializes in student loan refinance options, PLUS loans and flexible repayment terms. You might not know that they also offer jumbo loan mortgages.
We spoke to a loan officer at SoFi to discuss their jumbo loan types and this is what we learned:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Flagstar Bank has a jumbo product in all 50 states, making it a popular choice among many people looking for higher mortgage amounts. If you’re considering a jumbo mortgage, you’ll want to compare Flagstar’s rates as part of your analysis.
We reached out to a loan officer at Flagstar Bank to get details on their jumbo mortgage. Here are the highlights:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
The high cost of many of the houses and properties in Idaho makes it pretty challenging to finance a purchase. With jumbo loans in Idaho, however, it’s now easier to finance big purchases. So, what benefits do these loans offer?
To begin, you’ll have more money to make an offer. Compared to most other financing options, jumbo loans aren’t subject to conforming limits. Jumbo loans allow you to get approvals for larger loans and higher loan-to-value limits that often exceed the current FHA limits.
Flexible down payments are a plus with jumbo loans, too. In many scenarios, it’s possible to make a down payment that is much less than 20 percent on jumbo loans. Finally, jumbo loans give you the opportunity to buy larger properties with a single loan.
Most borrowers considering jumbo loans will ask themselves whether it’s the best option for them. Depending on your particular circumstances, this could be the best choice you ever made. Compared to other options, jumbo loans give you more purchasing power and a cleaner financial picture. You do need to keep in mind, however, that not every property in Idaho will qualify for financing through a jumbo loan. These loans come with higher interest rates and can take some time during approval and underwriting. Consider all this when making your choice.
Keep in mind conforming loan limits are set by the Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, the two government-backed mortgage companies that buy most of the home loans made in the U.S. from mortgage lenders and resell them to private investors.
If you want to find the best jumbo loans in other states, click on your state below.
Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.
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