Home Loans

Home Loan benefits

Idaho Central offers a variety of home loans designed specifically to meet your needs. Whether you're just starting out and need your first home, are looking to upgrade, or are ready to build your dream home, Idaho Central has the loan for you. We offer quick, local decisions.

Local Underwriting - we know our markets
Local servicing - we service most of our loans

fast approvals - saving you time
First-time homebuyer programs available

low fees to save you money
fast closings - most loans close within 30 days

extended rate lock options available from 90 to 360 days

Apply Now Rate Quote Contact

Loan	Interest Rate	APR*
15 year Fixed Rate - Purchase	6.125%	6.356%
30 year Fixed Rate - Purchase	6.500%	6.731%
15 year Fixed Rate - Refinance	6.125%	6.356%
30 year Fixed Rate - Refinance	6.500%	6.731%
ARM 5 year	6.000%	6.231%
ARM 7 year	6.250%	6.481%
ARM 10 year	6.500%	6.731%
ARM First-Time Homebuyer 100% Financed	6.375%	6.656%
Construction Loan	6.750%	7.084%
FHA 30 Year Fixed Rate	6.500%	6.931%
Freedom Mortgage - Existing ICCU Loan	5.990%	5.990%
Freedom Mortgage - New to ICCU	5.590%	5.590%
Jumbo Purchase	6.290%	6.486%
USDA RD 30 Year Fixed Rate	6.500%	7.031%
VA 30 Year Fixed Rate	6.500%	6.826%

*APR - Annual Percentage Rate
*Your rate and/or term may vary depending on credit history and underwriting criteria.
Rates valid for Friday, March 31, 2023.

Are You Buying, Refinancing, or Building?

Buying Refinancing Building

Program	Best if...	Details
Fixed Rate Home Loans	You are looking to purchase or refinance a home with a fixed interest rate for the life of the loan.	+ Program Details
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Fixed Rate Home Loans
These loans have the same interest rate for the life of the loan. This is the most popular type of home loan because it is easier to budget. Generally, the shorter the term, the lower the rate. Protection from rising interest rates Predictable monthly payments Low, affordable interest rates Multiple terms available – 10, 15, 20, and 30 years No initial loan application fees Investment properties eligible Manufactured homes eligible As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!
First-Time Homebuyer Programs	You are purchasing a home for the first time.	+ Program Details
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First-Time Homebuyer Programs
Idaho Central offers several first time homebuyer mortgage options. These are great for those with low to no money down options or those with limited income. See also ARM First-Time Homebuyer 100% Financed home loan. Unique programs designed to help first-time homebuyers Low interest rates with low down payment options for homebuyers Down payment assistance programs available for qualified borrowers Special programs offering waived mortgage insurance premiums Manufactured homes eligible Idaho First-Time Home Buyer Savings Account available Housing agency programs are available As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!
Adjustable Rate Mortgage (ARM)	You are looking to purchase or refinance a home with flexible rate/term options.	+ Program Details
Close
Adjustable Rate Mortgage (ARM)
This loan offers an initial fixed rate based on the term (5, 7, or 10 years) to help those with less, afford more. For the first fixed rate period, the rate will be fixed at a “below-market rate” to give you more buying power. After the fixed period expires, the rate can adjust within a capped margin. See also ARM First-Time Homebuyer 100% Financed home loan. Locally underwritten and serviced Lower initial fixed rate – 5, 7, or 10 years Lower payments in the early years of your loan Allows you to financially prepare over time as you expect income to increase over the coming years You can potentially get more home for your money Plan to move within the term of the loan Are going to pay off your mortgage within the term of the loan. As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!
ARM First-Time Homebuyer 100% Financed	You are a first-time homebuyer with as little as a $1,000 downpayment.	+ Program Details
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ARM First-Time Homebuyer 100% Financed
This loan is designed for lower household income first-time homebuyer(s) with little down payment. There is no mortgage insurance requirement. For the first fixed rate period, the rate will be fixed at a “below-market rate” to give you more buying power. After the fixed period expires, the rate can adjust within a capped margin. As little as $1,000 down Qualifying first-time buyer(s) can secure 100% financing with no mortgage insurance Income limits apply Locally underwritten and serviced – we will not sell these loans Single family residence (no manufactured homes) First-time homebuyer education required Idaho First-Time Homebuyer Savings funds are eligible for purchase in Idaho (See Idaho First-Time Home Buyer Savings) As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!
Federal Housing Administration (FHA)	You are looking to purchase a home with flexible purchasing options.	+ Program Details
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Federal Housing Administration (FHA)
The Federal Housing Administration backs qualified loans provided by Idaho Central to promote home ownership to those with low or moderate income or limited savings. Low down payment requirement of 3.5% Flexible credit requirements for those working on improving their credit Gifted down payment funds from family are eligible Manufactured homes eligible As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!
Veteran Affairs (VA) Mortgage	You are a qualified military member and purchasing a home.	+ Program Details
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Veteran Affairs (VA) Mortgage
The Department of Veteran Affairs backs mortgages provided by Idaho Central to qualified military members. No down payment required No monthly mortgage insurance premium Flexible credit requirements for those working on improving their credit Available to qualified Veterans who are looking to purchase or refinance As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!
Rural Housing Services (RHS)	You are looking to purchase a home in a rural community.	+ Program Details
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Rural Housing Services (RHS)
This home loan offers 100% financing for home buyers who would like to buy a home in a rural community. No down payment required Special financing option for low to moderate income families Low monthly mortgage insurance premium Available in qualified rural areas or communities As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!
Jumbo Financing	You are purchasing or refinancing a home with a larger purchase price.	+ Program Details
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Jumbo Financing
Idaho Central provides financing for large loan amounts with reduced closing costs. Financing available up to 95% of the home’s value Locally underwritten and serviced – we will not sell these loans Down payment options as low as 5% on purchase price of $850,000 or less As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!
Condo Financing	You are looking to purchase a condo.	+ Program Details
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Condo Financing
Idaho Central offers portfolio financing for the purchase of owner-occupied condos. Financing up to 97% of property value on eligible condominium purchases Financing up to 80% of property value on ineligible condominium purchases Locally underwritten and serviced As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!
Gifted Funds Mortgage	You have gifted funds to be used as down payment.	+ Program Details
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Gifted Funds Mortgage
We allow pledged deposits to be used as a gifted down payment. This is a perfect option for a child, grandchild, or family member buying their first home with a little assistance from a parent or relative. Pledged funds earn interest in a 5-year Certificate of Deposit (CD) Private mortgage Insurance not required Perfect option for the first-time homebuyer As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!

Program	Best if...	Details
Freedom Mortgage	You are looking to refinance your home into a shorter term with no fees.	+ Program Details
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Freedom Mortgage
This 5-12.5 year, no-fee loan is designed for members who want a short repay period or have a smaller loan balance. This is the last refinance loan you'll ever need. This loan has the same interest rate for the life of the loan. Absolutely no fees 5-12.5 year terms available Below market interest rate Fast closing times As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!
Fixed-Rate Home Loans	You are looking to purchase or refinance a home with a fixed interest rate for the life of the loan.	+ Program Details
Close
Fixed-Rate Home Loans
These loans have the same interest rate for the life of the loan. This is the most popular type of home loan because it is easier to budget. Generally, the shorter the term, the lower the rate. Protection from rising interest rates Predictable monthly payments Low, affordable interest rates Multiple terms available – 10, 15, 20, and 30 years No initial loan application fees Investment properties eligible Manufactured homes eligible As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!
Biweekly Home Loans	You are looking to refinance your home for a more flexible payment schedule.	+ Program Details
Close
Biweekly Home Loans
These loans have the same interest rate for the life of the loan. This option offers the convenience of making biweekly payments that can be tailored to your pay schedule. Protection from rising interest rates Save on interest expense Shorten the term of your loan Build your home’s equity faster Convenient and flexible biweekly payment schedule As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!
Adjustable Rate Mortgage (ARM)	You are looking to purchase or refinance a home with flexible rate/term options.	+ Program Details
Close
Adjustable Rate Mortgage (ARM)
This loan offers an initial fixed rate based on the term (5, 7, or 10 years) to help those with less, afford more. For the first fixed rate period, the rate will be fixed at a “below-market rate” to give you more buying power. After the fixed period expires, the rate can adjust within a capped margin. See also ARM First-Time Homebuyer 100% Financed home loan. Locally underwritten and serviced Lower initial fixed rate – 5, 7, or 10 years Lower payments in the early years of your loan Allows you to financially prepare over time as you expect income to increase over the coming years You can potentially get more home for your money Plan to move within the term of the loan Are going to pay off your mortgage within the term of the loan. As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!
Jumbo Financing	You are purchasing or refinancing a home with a larger purchase price.	+ Program Details
Close
Jumbo Financing
Idaho Central provides financing for large loan amounts with reduced closing costs. Financing available up to 95% of the home’s value Locally underwritten and serviced – we will not sell these loans Down payment options as low as 5% on purchase price of $850,000 or less As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!

Program	Best if...	Details
Construction Loan	You are looking to build your dream home.	+ Program Details
Close
Construction Loan
Build the home of your dreams with an Idaho Central Construction Loan One-time and two-time close options Fixed- or variable-rate programs available Interest-only payments during construction Build times up to 18 months As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!
Land Loan	You are planning to build and need a loan for the land.	+ Program Details
Close
Land Loan
This loan is designed for members who are looking to purchase a residential lot. Call an ICCU Construction Loan Officer in your area for current rate. 5-15 year term Up to 80% LTV Up to 15 acres Can be rolled into your construction loan Locally underwritten and serviced – we won’t sell your loan As an ICCU member, check your credit score anytime with MY CREDIT in eBranch. It's FREE!

Home Loans

Home Loan benefits

Home Loans

Are You Buying, Refinancing, or Building?

Fixed Rate Home Loans

First-Time Homebuyer Programs

Adjustable Rate Mortgage (ARM)

ARM First-Time Homebuyer 100% Financed

Federal Housing Administration (FHA)

Veteran Affairs (VA) Mortgage

Rural Housing Services (RHS)

Jumbo Financing

Condo Financing

Gifted Funds Mortgage

Freedom Mortgage

Fixed-Rate Home Loans

Biweekly Home Loans

Adjustable Rate Mortgage (ARM)

Jumbo Financing

Construction Loan

Land Loan

Contact A Specialist

Additional Resources

Contact A Specialist