2024 FHA Loan Limits in Idaho
With low down payments and less stringent credit requirements, loans backed by the Federal Housing Administration (FHA) make home ownership in Idaho more affordable and easier to attain for some buyers. However, FHA loan limits in Idaho range from $498,257 to $1,149,825, depending on the county.
Idaho FHA loan limits by county
| County name | One unit | Two units | Three units | Four units | Median sales price |
|---|---|---|---|---|---|
| ADA | $586,500 | $750,800 | $907,550 | $1,127,900 | $477,000 |
| ADAMS | $498,257 | $637,950 | $771,125 | $958,350 | $278,000 |
| BANNOCK | $498,257 | $637,950 | $771,125 | $958,350 | $300,000 |
| BEAR LAKE | $498,257 | $637,950 | $771,125 | $958,350 | $296,000 |
| BENEWAH | $498,257 | $637,950 | $771,125 | $958,350 | $238,000 |
| BINGHAM | $498,257 | $637,950 | $771,125 | $958,350 | $315,000 |
| BLAINE | $759,000 | $971,650 | $1,174,500 | $1,459,650 | $660,000 |
| BOISE | $586,500 | $750,800 | $907,550 | $1,127,900 | $477,000 |
| BONNER | $523,250 | $669,850 | $809,700 | $1,006,250 | $425,000 |
| BONNEVILLE | $498,257 | $637,950 | $771,125 | $958,350 | $379,000 |
| BOUNDARY | $498,257 | $637,950 | $771,125 | $958,350 | $360,000 |
| BUTTE | $498,257 | $637,950 | $771,125 | $958,350 | $379,000 |
| CAMAS | $759,000 | $971,650 | $1,174,500 | $1,459,650 | $660,000 |
| CANYON | $586,500 | $750,800 | $907,550 | $1,127,900 | $477,000 |
| CARIBOU | $498,257 | $637,950 | $771,125 | $958,350 | $259,000 |
| CASSIA | $498,257 | $637,950 | $771,125 | $958,350 | $302,000 |
| CLARK | $498,257 | $637,950 | $771,125 | $958,350 | $248,000 |
| CLEARWATER | $498,257 | $637,950 | $771,125 | $958,350 | $207,000 |
| CUSTER | $498,257 | $637,950 | $771,125 | $958,350 | $232,000 |
| ELMORE | $498,257 | $637,950 | $771,125 | $958,350 | $324,000 |
| FRANKLIN | $498,257 | $637,950 | $771,125 | $958,350 | $430,000 |
| FREMONT | $498,257 | $637,950 | $771,125 | $958,350 | $343,000 |
| GEM | $586,500 | $750,800 | $907,550 | $1,127,900 | $477,000 |
| GOODING | $498,257 | $637,950 | $771,125 | $958,350 | $266,000 |
| IDAHO | $498,257 | $637,950 | $771,125 | $958,350 | $225,000 |
| JEFFERSON | $498,257 | $637,950 | $771,125 | $958,350 | $379,000 |
| JEROME | $498,257 | $637,950 | $771,125 | $958,350 | $322,000 |
| KOOTENAI | $572,700 | $733,150 | $886,200 | $1,101,350 | $481,000 |
| LATAH | $498,257 | $637,950 | $771,125 | $958,350 | $414,000 |
| LEMHI | $498,257 | $637,950 | $771,125 | $958,350 | $255,000 |
| LEWIS | $498,257 | $637,950 | $771,125 | $958,350 | $236,000 |
| LINCOLN | $498,257 | $637,950 | $771,125 | $958,350 | $263,000 |
| MADISON | $498,257 | $637,950 | $771,125 | $958,350 | $343,000 |
| MINIDOKA | $498,257 | $637,950 | $771,125 | $958,350 | $302,000 |
| NEZ PERCE | $498,257 | $637,950 | $771,125 | $958,350 | $316,000 |
| ONEIDA | $498,257 | $637,950 | $771,125 | $958,350 | $308,000 |
| OWYHEE | $586,500 | $750,800 | $907,550 | $1,127,900 | $477,000 |
| PAYETTE | $498,257 | $637,950 | $771,125 | $958,350 | $325,000 |
| POWER | $498,257 | $637,950 | $771,125 | $958,350 | $300,000 |
| SHOSHONE | $498,257 | $637,950 | $771,125 | $958,350 | $277,000 |
| TETON | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,573,000 |
| TWIN FALLS | $498,257 | $637,950 | $771,125 | $958,350 | $322,000 |
| VALLEY | $573,850 | $734,650 | $888,000 | $1,103,550 | $434,000 |
| WASHINGTON | $498,257 | $637,950 | $771,125 | $958,350 | $250,000 |
How are FHA loan limits determined?
FHA loan limits are dynamic, determined each year based on the formula prescribed by the National Housing Act. Using median home sale data and location information, the formula lays out loan limits for three cost categories: low-cost area “floor,” high-cost area “ceiling,” and a “special exemption areas” limit. The limits are further broken down into home types, including single-family and multi-family homes.
Floor and ceiling loan limits are determined using the conforming loan limit set by the Federal Housing Finance Agency (FHFA) for loans guaranteed by Fannie Mae or Freddie Mac The floor is 65% of the conforming loan limit, and the ceiling is no more than 150% of the conforming loan limit.
How to qualify for an FHA loan in Idaho
As with any loan program, there are certain eligibility requirements for FHA loans. These are:
→ Appropriate credit score and down payment. With a score of 580 or higher, lenders accept a down payment of just 3.5%. Credit scores between 500 and 579 will require at least a 10% down payment.
→ History of on-time payments. Delinquencies and late payments could result in a loan application being declined.
→ No recent foreclosures. The borrower cannot have had a foreclosure in the last three years, unless they can prove it was the result of extenuating circumstances.
→ No recent bankruptcies. Borrowers cannot have had a bankruptcy in the past two years.
→ Acceptable debt-to-income ratio. This number represents the acceptable percentage of your gross income that can go towards your monthly debt payments, including your mortgage. Generally for FHA loans, lenders prefer DTI ratios not exceed 43%.
→ Steady income. Lenders will generally want pay stubs and W-2s to show you have a steady income and employment history for the past two years.
→ Primary residence. FHA loans cannot be used for second homes or vacation properties, so the mortgage must be for a primary residence.
Buying a multifamily property with an FHA loan
When purchasing a property with two to four units, an FHA loan still requires just a 3.5% down payment. Designed for owners who plan to occupy at least one of the multifamily unit themselves, FHA multifamily loan eligibility requirements are:
→ Proof of income and value. Proof of adequate income and appraisal of the fair market value of the property and rental potential.
→ Credit score. Credit score of 580 or higher.
→ Adequate debt-to-income (DTI) ratio. Most lenders prefer DTI ratios of 43% or less, but qualifications can vary depending on credit score.
→ Owner-occupied. One unit must be owner-occupied.
| Number of Units | Low-cost FHA Loan Limit |
|---|---|
| Two | $637,950 |
| Three | $771,125 |
| Four | $958,350 |
FHA lenders in Idaho
| Lender | LendingTree rating | Minimum FHA credit score | |
|---|---|---|---|
 |  Read our review | 580 | Get offers |
 | Read our review | Not disclosed | Get offers |
 | Read our review | 580 | Get offers |
 | Read our review | 580 | Get offers |
 |  Read our review | 580 | Get offers |