Top 5 FHA Lenders in Idaho 2019
If you’re interested in obtaining a home loan in the state of Idaho, you have quite a few options to choose from. Right now, the Gem State has more than 1.7 million residents, putting it right behind West Virginia as the country’s 39th most populous state. Currently, mortgage rates in the U.S. are still incredibly low, so if you’re thinking of buying a home in Idaho, this could be an excellent time. Home values in Idaho rose by an incredible 16.6% percent between December 2017 and December 2018, and are estimated to rise by another 2.6% in the coming year.
The upward trend of rising home values makes it the prime time for home buyers on the market for a mortgage loan to do everything they can to keep their housing costs as low as possible. Getting a great mortgage would probably be the best place to start. And, since FHA loans offer low interest rates, down payments as little as 3.5%, and an ultra-low 580 credit score requirement, they’re often some of the most desirable loans for home buyers like you.
In this article, we’ll review the best FHA approved lenders in Idaho and how they can help you on your quest to home ownership.
2019 Idaho FHA Lender Best Picks
Best for First Time Home Buyers: Pacific Residential Mortgage
Best Online Experience: Evergreen Home Loans
Best Local Lender: Idaho First Mortgage
Best Face-to-Face Experience: Finance of America Mortgage
Best Overall Performance: Willamette Valley Bank
#1 Idaho FHA Lender: Willamette Valley Bank
We’ve ranked Willamette Valley Bank as the #1 FHA lender in both Oregon and Idaho-- and for a good reason. When it comes to FHA lenders in the Gem State, Willamette Valley Bank constantly outshines the competition. The bank, which has its headquarters in Portland, Oregon, prides itself on customer service and its nearly two decades of experience in home financing. Willamette Valley Bank has 2 locations in Idaho, with 15 more locations across the neighboring states of Washington and Oregon. In addition, the bank consistently shows up on lists of the best companies to work for in the area, which is a good sign for borrowers that they’ll treat their customers well, too.
Like a lot of FHA lenders, Willamette Valley Bank also can offer borrowers VA loans, USDA loans, and conventional loans, so even if you decide that an FHA loan isn’t the right choice for you, the bank can still help you achieve home financing. Plus, unlike many lenders, the bank offers Fannie Mae HomeReady mortgages, a prime competitor to the FHA 203(k) purchase/refinance and rehabilitation program.
#2 Idaho FHA Lender: Pacific Residential Mortgage
Much like Willamette Valley Bank, Pacific Residential Mortgage is a highly-rated Oregon-based lender that’s made significant inroads into Idaho. The company, which was founded in 2004, has devoted much of its attention to creating a great customer experience for clients while doing everything they can to keep rates low. based in Lake Oswego, Oregon, is also one of the highest rated lenders in the Beaver State. Plus, the company takes a more holistic view of their role in the industry-- instead of just making money, they see themselves as a way to help their clients advance themselves both personally and professionally. they truly want to help their customers achieve their personal and professional goals.
In addition, the company has a big focus on giving back to the surrounding community and has made significant donations to charities like the Boys and Girls Club, and the American Cancer Society, so, if you decide to get an FHA loan from them, you can rest assured that you’re working with a company dedicated to making a community impact.
#3 Idaho FHA Lender: Idaho First Mortgage
Idaho First Mortgage is a truly local lender, with just 2 offices in the state, one located in Idaho Falls, and the other located in Rexburg. Idaho First Mortgage has glowing reviews-- and, if they’re to be believed, borrowers can expect a high level of individualized customer service and a strong dedication to their clients. Like many FHA lenders, Idaho First Mortgage can also help borrowers with conventional financing, VA loans, and USDA loans, with specialties in FHA streamline refinancing and VA interest rate reduction loans.
#4 Idaho FHA Lender: Evergreen Home Loans
Evergreen Home Loans, which is headquartered in Bellevue, Washington, is one of the fastest growing lenders in the Pacific Northwest, and consistently shows up as one of the best lenders in Idaho. Borrowers may like the fact that Evergreen has both an easy-to-use online mortgage application and four offices throughout Idaho, so borrowers can drop by to speak to a mortgage officer in-person if they’d like. Unlike many FHA lenders, the company offers FHA 203(k) loans, which allow borrowers to buy or refinance and rehabilitate their home with just one, easy loan.
#5 Idaho FHA Lender: Finance of America Mortgage
Finance of America is a national, full-service mortgage firm, and is currently one of the fastest growing mortgage companies in the U.S. The company, which has two offices in the Boise, Idaho area, is consistently ranked as one of the best FHA lenders in Idaho, and prides itself on providing financial services that can help customers through every single stage of their lives.
Shop Around Before You Get an Idaho FHA Loan
While we’re confident that our list of the best FHA lenders in Idaho is a great place to start looking, you should still do your own homework and look for lenders on your own. Everyone’s financial needs are a little bit different, and sometimes the best mortgages can be found in the most unique places. So, whether this is your first home or your fourth, if you truly want to get the best deal possible, you should shop around with multiple lenders to find out which one can provide the mortgage that best suits your individual needs.
While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best FHA lender in your area, don't hesitate to contact a home.loans mortgage expert!