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Ada

Current Mortgage Rates in Ada, Idaho

Compare mortgage rates and fees for leading lenders in Ada, ID. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Ada.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Ada. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Ada, ID as of August 13, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Ada, ID Mortgage Rates Compare?

August 13, 2020

The current average rate for a 30 year fixed rate mortgage in Ada is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Ada, ID Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Ada, Idaho?

Below we provide helpful information on the real estate market, home prices and housing affordability in Ada. Understand how much you need to earn to afford a home in Ada, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Ada fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Ada is right for you.

The median home value for Ada, ID is $319,015

Based on current mortgage rates and a 10% down payment, you need to make $57,414 per year to buy the median priced home in Ada

With this income, you could qualify for a $287,113 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Ada is $1,330

The median household income for Ada, ID is $63,438

Based on this income, you can afford a home valued at approximately $352,483

The home price you can afford to buy based on household income in Ada is 110% of the median home value which means housing prices are average. Ada ranks 33 out of 44 counties in Idaho and 2,923 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Ada, ID is average

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Loan Limits for Ada, Idaho

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Ada below.

Conforming loan limits for Ada, ID

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Ada, ID

1 unit: $366,850
2 units: $469,600
3 units: $567,650
4 units: $705,500

VA loan limits for Ada, ID

1 unit: $510,400

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