Monthly Payment on a $150K Mortgage in Idaho
Using Idaho's 0.63% property tax rate and $1,600/yr homeowners insurance.
$150K Mortgage in Idaho: Rate Comparison
Monthly PITI payment using Idaho's 0.63% property tax and $1,600/yr insurance.
| Rate | 5% Down | 10% Down | 20% Down |
|---|---|---|---|
| 5.5% | $1,104 | $1,057 | $893 |
| 6.0% | $1,150 | $1,100 | $932 |
| 6.5% | $1,196 | $1,144 | $971 |
| 7.0% | $1,243 | $1,189 | $1,010 |
| 7.5% | $1,292 | $1,235 | $1,051 |
| 8.0% | $1,341 | $1,281 | $1,093 |
How This Compares to Idaho's Median
A $150K home is 64% below Idaho's median of $420K. This is well within reach in many Idaho communities.
Income Needed for a $150K Home in Idaho
To afford this payment of $1,144/mo in Idaho, you'd need a household income of approximately $49K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $50K salary can afford →Closing Costs in Idaho
Estimated closing costs in Idaho: $2K (1.5% of purchase price). Idaho has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $150K Mortgage in Idaho
With 10% down ($15,000), your loan of $135,000 at 6.5% over 30 years produces a principal and interest payment of $853/mo. Adding Idaho's 0.63% property tax ($79/mo) and $1,600/yr insurance ($133/mo) brings your total to $1,144/mo. Because you're putting less than 20% down, PMI adds $79/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $172,185 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $16,152 over the life of the loan.