The average rate on a 30-year mortgage increased to 6.91%. In Idaho, the median home price is $559,450, requiring a 20% down payment of $111,890, resulting in a monthly payment of $2,951. With a 10% down payment, the upfront cost is $55,945, leading to a monthly payment of $3,319. These payments exclude taxes and insurance. Despite the recent rate rise, current payments are lower than the peak of 7.79% in October 2023. Pre-approval for a mortgage is recommended to understand affordability and budget.
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