Home Buyers Guide

Less than most people think. FHA loans allow 3.5% down, many conventional loans allow 3% to 5%, and VA and USDA loans can require nothing down for eligible buyers. On a home at Ada County’s September 2026 median of $575,000, that works out to about $20,125 at 3.5% down, $28,750 at 5%, and $115,000 at 20%.

Putting 20% down on a conventional loan avoids private mortgage insurance, but it is not a requirement. A local lender can show you the monthly trade-off between a smaller down payment and a larger one.

Yes. Idaho Housing and Finance Association (IHFA) offers down payment and closing cost assistance of up to 8% of the sales price, structured as a second mortgage you repay over time. You can contribute as little as $500 of your own money, household income must be at or below $170,000, and you do not have to be a first-time buyer. A homebuyer education course is required. Details: Idaho Housing down payment assistance.

First-time buyers can also open an Idaho First-Time Home Buyer Savings Account and deduct up to $15,000 a year ($30,000 for married couples filing jointly) from Idaho income tax. See the Idaho State Tax Commission for the rules.

Buyer closing costs commonly run about 2% to 5% of the purchase price. They include lender fees, the appraisal, your share of title and escrow fees, and prepaid property taxes, homeowner’s insurance and interest. Idaho has no real estate transfer tax, which keeps closing costs lower than in many states.

Your lender’s Loan Estimate shows your actual numbers, and we can often negotiate for the seller to pay part of your closing costs or buy down your rate.

Yes. Since August 2024, REALTORS® must have a written agreement with a buyer before touring a home with them. The agreement spells out what we do for you and how we are paid, and the amount is negotiable.

In many Treasure Valley sales the seller still pays some or all of the buyer’s agent compensation, and you can ask for it as part of your offer. We walk through exactly how this works for you at your consultation, before you sign anything.

Pre-qualification is a quick estimate based on what you tell a lender. Pre-approval means the lender has pulled your credit and verified your income, assets and debts, and issued a letter for a specific amount. Sellers take pre-approved offers far more seriously, so get pre-approved before you start touring.

Lenders look at your debt-to-income ratio. A common guideline is a housing payment (principal, interest, taxes and insurance) of no more than about 28% of gross monthly income and total debts of no more than about 36%, though many loan programs allow more. As an illustration only, a $575,000 home with 10% down at a 7% rate has a principal and interest payment of about $3,443 a month, before taxes, insurance and any HOA dues. Your lender will give you the real figure.

Idaho is a non-disclosure state: sale prices are not part of the public record. Online estimates are often working from incomplete data. We have direct access to Intermountain MLS sold data, so we can show you what comparable homes actually sold for before you write an offer.

Most financed purchases close about 30 to 45 days after your offer is accepted. Cash purchases can close faster. The search itself can take a weekend or several months, depending on your price range and how specific your must-haves are.

Earnest money is a good-faith deposit you make when your offer is accepted. It is held by the title company and credited toward your down payment and closing costs at closing. The amount is negotiable; we will recommend a figure that keeps your offer competitive for that home. Your purchase agreement spells out when it can be refunded, such as if you back out during your inspection period.

Always get a general home inspection. Depending on the home, we often recommend a radon test, a sewer line scope (especially in older neighborhoods), and specialty inspections for the roof, HVAC, well, septic or foundation if the general inspector flags them. Inspections happen during your inspection period, so book them as soon as your offer is accepted.

Both can make sense. New construction often comes with builder incentives such as rate buy-downs or closing cost credits, and a warranty. Resale homes usually offer established neighborhoods, mature trees and room to negotiate on price and repairs.

One important tip: bring us to your first visit to a builder’s model home. Many builders require your agent to register you on that first visit, and the builder’s sales rep works for the builder, not for you.

If the home is your primary residence, Idaho exempts 50% of the value of the home and up to one acre of land from property tax, up to $125,000. It does not transfer from the seller, so you must apply with the county assessor yourself after you move in. The annual deadline is April 15. More from the Idaho State Tax Commission.

Yes. Options include making your offer contingent on the sale of your current home, a bridge loan, or timing both closings for the same day. A sale contingency makes an offer less attractive to some sellers, so we will talk through which approach fits the market and your finances. We handle both sides, which makes coordinating the move much easier.

No one can reliably predict rates. Waiting can mean competing with more buyers and higher prices if rates fall. Buying now can mean a higher payment, with the option to refinance later if rates fall and it makes financial sense. A good rule: buy when the payment works for your budget today, without counting on a refinance.

Absolutely. Many of our clients relocate. We offer virtual consultations, live video tours, and neighborhood guidance on commutes, schools and lifestyle. Start with our Ultimate Relocation Guide and book a virtual consult.