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Bingham

Current Mortgage Rates in Bingham, Idaho

Compare mortgage rates and fees for leading lenders in Bingham, 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 Bingham.

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

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Mortgage Rates in Bingham, ID as of April 2, 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 Bingham, ID Mortgage Rates Compare?

April 2, 2020

The current average rate for a 30 year fixed rate mortgage in Bingham 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
Bingham, 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 Bingham, Idaho?

Below we provide helpful information on the real estate market, home prices and housing affordability in Bingham. Understand how much you need to earn to afford a home in Bingham, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Bingham 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 Bingham is right for you.

The median home value for Bingham, ID is $183,396

Based on current mortgage rates and a 10% down payment, you need to make $33,007 per year to buy the median priced home in Bingham

With this income, you could qualify for a $165,057 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 Bingham is $764

The median household income for Bingham, ID is $54,110

Based on this income, you can afford a home valued at approximately $300,657

The home price you can afford to buy based on household income in Bingham is 164% of the median home value which means housing prices are average. Bingham ranks 10 out of 44 counties in Idaho and 2,284 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Bingham, Idaho

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

Conforming loan limits for Bingham, ID

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

FHA loan limits for Bingham, ID

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Bingham, ID

1 unit: $510,400

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