5 Best Jumbo Loans in Idaho


Jumbo mortgage loans in Idaho offer higher purchasing limits than those available from conventional loans.

Key Terms

  • Limits on Idaho jumbo loans exceed conventional ones, giving you more buying power.
  • An Idaho jumbo loan can require little to no down payment.
  • Borrowers can use just one loan to finance a property instead of combining several mortgages.

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.

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What is the jumbo loan limit in Idaho?

The jumbo loan limit in Idaho for all counties is $647,200. Any loan that exceeds $647,200 is a jumbo loan in the state of Idaho. Any loan that is less than $647,200 is a conforming loan in the state of Idaho.

Idaho Jumbo Loan Limits (December 2022)

Idaho county-by-county jumbo loan, conforming loan and FHA loan limits.

Idaho
County
Idaho
Jumbo loan
(1-unit)
Idaho
Conforming
loan limit
(1-unit)
Idaho
FHA loan limit
(1-unit)
Ada$647,200+$647,200 $515,200
Adams$647,200+$647,200 $420,680
Bannock$647,200+$647,200 $420,680
Bear Lake$647,200+$647,200 $420,680
Benewah$647,200+$647,200 $420,680
Bingham$647,200+$647,200 $420,680
Blaine$648,600+$648,600 $648,600
Boise$548,250+$548,250 $515,200
Bonner$647,200+$647,200 $427,800
Bonneville$647,200+$647,200 $420,680
Boundary$647,200+$647,200 $420,680
Butte$647,200+$647,200 $420,680
Camas$647,200+$647,200 $648,600
Canyon$647,200+$647,200 $515,200
Caribou$647,200+$647,200 $420,680
Cassia$647,200+$647,200 $420,680
Clark$647,200+$647,200 $420,680
Clearwater$647,200+$647,200 $420,680
Custer$647,200+$647,200 $420,680
Elmore$647,200+$647,200 $420,680
Franklin$647,200+$647,200 $420,680
Fremont$647,200+$647,200 $420,680
Gem$647,200+$647,200 $515,200
Gooding$647,200+$647,200 $420,680
Idaho$647,200+$647,200 $420,680
Jefferson$647,200+$647,200 $420,680
Jerome$647,200+$647,200 $420,680
Kootenai$647,200+$647,200 $483,000
Latah$647,200+$647,200 $420,680
Lemhi$647,200+$647,200 $420,680
Lewis$647,200+$647,200 $420,680
Lincoln$647,200+$647,200 $420,680
Madison$647,200+$647,200 $420,680
Minidoka$647,200+$647,200 $420,680
Nez Perce$647,200+$647,200 $420,680
Oneida$647,200+$647,200 $420,680
Owyhee$647,200+$647,200 $515,200
Payette$647,200+$647,200 $420,680
Power$647,200+$647,200 $420,680
Shoshone$647,200+$647,200 $420,680
Teton$970,800+$970,800 $970,800
Twin Falls$647,200+$647,200 $420,680
Valley$647,200+$647,200 $420,680
Washington$647,200+$647,200 $420,680

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5 Best Idaho jumbo loan lenders

If you’re ready to look over the best jumbo loan lenders in Idaho, here are some options to consider.

1. Keybank

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:

SilverKey Mortgage

  • Loan amounts up to $3.5 million
  • 10% down up to $1.5 million
  • Fixed or variable rates available
  • No private mortgage insurance required
  • Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.

GoldKey Mortgage

  • Loan amounts up to $3.5 million
  • 10% down up to $1.5 million
  • Fixed or variable rates available
  • No private mortgage insurance required
  • Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.
  • Available for second homes and investment properties.

Jumbo Interest-Only Mortgages

  • Loan amounts up to $3.5 million
  • 30% down on mortgages up to $1.5 million for primary residences
  • 35% down on mortgages up to $2 million for second homes
  • No private mortgage insurance required
  • ARM-only options

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.

2. Huntington Bank

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:

  • Loan amounts up to $2.5 million
  • Purchase and refinance available
  • Refinancing allows you to take up to $750,000 of equity out of your home.
  • Second homes are eligible
  • Multi-unit properties are eligible

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.

3. BMO Harris Bank

BMO Harris Bank is an established player in the mortgage industry that ranks 16th largest by total assets in the country. The bank offers a full range of financial products, including a jumbo loans.

We spoke to a BMO Harris loan officer to get additional details about the jumbo mortgage, many of which aren’t published. Here are some key terms and highlights:

  • 10% down to $1 million (740+ credit score)
  • 15% down to $1.5 million (720+ credit score)
  • 20% down to $2 million (700+ credit score)
  • 25% down to $3 million (700+ credit score)
  • 30% down to $5 million (700+ credit score)
  • 45% down over $5 million (700+ credit score)
  • 30/20/15/10 year fixed
  • 5/6, 7/6, and 10/6 ARMs
  • All 50 states
  • 12 months reserves

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.

4. SoFi

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:

  • Loan amounts up to $3 million
  • Down payments start at 10% and increase as the loan amount increases.
  • No PMI, regardless of your down payment amount.
  • 15-year or 30-year fixed rate products available

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.

5. Flagstar Bank

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:

  • Loan amounts up to $3 million on primary residences
  • Loan amounts up to $2.5 million on second homes
  • Purchase and rate/term refinance options available on primary residences and second homes
  • No prepayment penalties
  • First-time homebuyers permitted
  • No mortgage insurance options available
  • Cash-out options available on primary residence for qualifying borrowers

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.

Benefits of getting a jumbo loan in Idaho

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.  

Are jumbo loans a good option for you?

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’re looking to explore jumbo mortgage loans in other states, check out our national overview of jumbo loans as a starting point in your search.

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Joshua Holt

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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