Home Mortgage Loan

The critical first step to purchasing Real Estate in Idaho is to get approved for a mortgage loan. This can save you a great deal of time and frustration and make you more focused during your home search. It also gives you a competitive advantage by increasing your negotiating power with Idaho home sellers.

A lending professional can help you choose which loan is right for you. They can provide the information you need to help you figure out which option is best suited to your needs. Our preferred lenders will assist you in finding a loan with the lowest interest rate and lowest down payment possible.

You may contact Natasha anytime Toll Free: 1-877-800-8167 or Direct: (208) 870-7470 or by email: Natasha@IdahoPropertyFinder.com for local mortgage loan information.

Quick Idaho Loan Pre-Approval Request

Please fill out this form to receive Boise home mortgage loan information. Being pre-approved is vital to help you succeed in buying Real Estate in Idaho.

Name:
Address:
City:
State:
Zip:
Home Phone:
Work Phone:
Email:

Where are you relocating to?
Do you rent or own?	Rent Own
Is your property listed?	Yes No
Do you need to sell before you buy?	Yes No
Have you been pre-qualified for a mortgage loan?	Yes No
If not, would you like our loan officer to contact you with information?	Yes No
What type of dwelling are you interested in?	Condo/Town Home Single Family Home Rental Apartment Rental Home Single Family w/acreage
Price Range:
Estimated Move Date
Additional Comments

To complete and send this form, please type the numbers you see into the box below it:

Types of Idaho Mortgage Loans

Fixed-Rate Mortgage. A fixed-rate mortgage means your interest rate stays the same for the duration of the mortgage (usually 30 years). Your principal and interest payments remain steady, which makes it easier to plan a monthly budget.

Adjustable-Rate Mortgage. Also called an ARM. You pay lower monthly payments to start out than with a fixed rate, but your payments and interest rate can go higher or lower, depending on what the current interest rates are.

FHA-Insured Mortgage.The Federal Government will insure the lender against loss in case the homebuyer’s loan goes into default. This program gives homeowners who cannot afford to put down 10% to 20%, a way to still buy a home. FHA loans are not limited to first-time home buyers.

VA Loan. The Department of Veterans Affairs will guaranty the lender against loss. Active and Retired military people may use VA loans. There is no money down required and more of the closing costs are paid by the seller.

Assumable or Non-Assumable. Occasionally, a buyer might find a home with a mortgage loan than can be "assumed" from the previous home owner. In this case, the lender is willing to transfer the old mortgage loan on the home to the new buyer.

Down payment requirements. Most mortgage loans do require a minimum down payment. If a down payment is made, it is paid at the time of closing. The following are examples of what down payments you might expect for various types of loans:

• Conventional loans 5-10% of the sales price,
• FHA's requirement varies from a minimum of 3-5% of the sales price.
• Veterans are provided with the opportunity to use their VA certificate and purchase a home without making a down payment.