Best of

Best Idaho Housing and Finance Association Lenders of 2019

NerdWalletJuly 17, 2019

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The Idaho Housing and Finance Association offers competitive interest rates for purchase and refinance mortgages, along with down payment and closing cost assistance grants. Here are some lenders that can help you apply.

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Embraces FHA-backed home loans.
  • Offers three construction loans.
  • A professional loan package is tailored for the needs of doctors, lawyers, architects and certified public accountants.
  • Flagstar reps are familiar with low-down-payment state bond programs for first-time home buyers and income-limited households, as well as the areas that qualify for USDA loans.
  • Offers home equity loans and home equity lines of credit.

Cons

  • Charges an average $1,000 origination fee.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Works with loan programs offered by state and local housing agencies.
  • Specializes in mortgages for first-time home buyers.
  • Almost half of its loans are low-down-payment government mortgages.
  • Considers alternative credit, such as history of payments on rent and utilities.

Cons

  • With a concentration of offices in the West and South, Guild has little presence in the Northeast and Midwest.
  • Jumbo borrowers may find that banks are more competitive when it comes to large loan amounts.
Read full review
National / Regional

National

Min. Down Payment

3%

Pros

  • A robust suite of loan products.
  • Licensed in all 50 states.
  • Close in as little as 10 days using the Fairway app.

Cons

  • Limited branch locations.
  • Mortgage rates not posted on website.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Loan programs to educate and assist first-time home buyers, union members and others.
  • Relocation and employee mortgage programs for many large companies.
  • Accepts down payments as low as 3% on fixed-rate mortgages through its yourFirst Mortgage program.

Cons

  • Government actions and scandals have damaged consumer trust.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Low rate of consumer complaints filed with the Consumer Financial Protection Bureau.
  • Request a pre-qualification through PrimeLending’s secure system from a phone, tablet or computer.
  • Niche mortgage products include energy-efficient mortgages, FHA 203(k) renovation and remodeling loans, manufactured home mortgages and home construction loans.
  • Free “float down” interest rate option lets borrowers choose the lower rate if interest rates fall, even with a rate lock.
  • NeighborhoodEdge closing cost assistance program for low- to moderate-income borrowers allows qualified borrowers $2,000 in closing cost credits (restrictions on income and location).
  • “Alternative doc” program lets borrowers qualify for mortgage based on bank statements rather than tax returns.

Cons

  • No live chat online.
  • No online mortgage rate quotes.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Participates in some down payment assistance programs.
  • Offers educational resources for military borrowers.
  • Provides digital tools for a streamlined application process.

Cons

  • No mortgage rates displayed online.
  • Must work with a loan officer for pre-qualification and preapproval.
Read full review
loanDepot

at loanDepot

Min. Credit Score

620

Min. Down Payment

3.5%

Pros

  • Offers digital income, asset and employment verification.
  • Has over 150 affiliated loan stores nationwide for customers who prefer face-to-face service.
  • One of the nation’s most active lenders of FHA and VA loans.

Cons

  • Published mortgage rates include up to three points of prepaid interest and fees.
  • Does not offer home equity loans or lines of credit.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • A wide variety of loan types.
  • Low credit score requirements for government-backed loans.
  • A wealth of educational material on its website.
  • Licensed in all 50 states.

Cons

  • Mortgage application can't be tracked online.
  • Charges origination fees on some loans.
  • Limited branch locations.
Read full review

Summary of Best Idaho Housing and Finance Association Lenders of 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Flagstar

Flagstar

government loan programs

620

3%

Read review
Guild Mortgage

Guild Mortgage

government loan programs

620

3%

Read review
Fairway

Fairway

online convenience

N/A

3%

Read review
Wells Fargo

Wells Fargo

online convenience

620

3%

Read review
PrimeLending

PrimeLending

credit challenges

620

3%

Read review
Caliber

Caliber

credit challenges

620

3%

Read review
loanDepot

loanDepot

at loanDepot

customer service

620

3.5%

at loanDepot

HomeBridge

HomeBridge

customer service

620

3%

Read review
LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Flagstar

Flagstar

government loan programs

620

3%

Read review
Guild Mortgage

Guild Mortgage

government loan programs

620

3%

Read review
Fairway

Fairway

online convenience

N/A

3%

Read review
Wells Fargo

Wells Fargo

online convenience

620

3%

Read review
PrimeLending

PrimeLending

credit challenges

620

3%

Read review
Caliber

Caliber

credit challenges

620

3%

Read review
loanDepot

loanDepot

at loanDepot

customer service

620

3.5%

at loanDepot

HomeBridge

HomeBridge

customer service

620

3%

Read review

More Idaho Housing and Finance lenders

These IHFA lenders do a high volume of lending in Idaho, but they haven't been reviewed by NerdWallet.

Idaho Central Credit Union

  • Publishes sample mortgage rates online.
  • Has over two dozen branches in Treasure Valley, Magic Valley, Eastern Idaho and North Idaho.
  • Says most loans close within 30 days.
  • Website has live chat.

Academy Mortgage

  • Publishes sample mortgage rates online.
  • Has 11 Idaho branches.
  • Offers a full menu of mortgages.
  • Features home buyer education materials on its website.

Glacier Bank (doing business as Citizens Community Bank and Mountain West Bank)

  • Has Citizens Community Bank locations in Ammon, Chubbuck, Idaho Falls, Pocatello and Rexburg.
  • Has Mountain West Bank locations in Coeur d’Alene, Hayden and Post Falls.
  • Website lets you choose a loan officer and start an application online.
  • Doesn't publish mortgage rates online.

D.L. Evans Bank

  • Has more than two dozen branches across the state.
  • Publishes current sample rates for a variety of mortgages on its website.
  • Offers online custom rate quotes, based on credit score, down payment and other factors.
  • Website lets you start a mortgage application online.

More from NerdWallet

Last updated on July 17, 2019

Methodology

NerdWallet's selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best Idaho Housing and Finance Association Lenders of 2019