Monthly Payment on a $800K Mortgage in Idaho
Using Idaho's 0.63% property tax rate and $1,600/yr homeowners insurance.
$800K 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% | $5,312 | $5,061 | $4,187 |
| 6.0% | $5,553 | $5,290 | $4,390 |
| 6.5% | $5,800 | $5,524 | $4,599 |
| 7.0% | $6,053 | $5,764 | $4,811 |
| 7.5% | $6,311 | $6,008 | $5,028 |
| 8.0% | $6,573 | $6,256 | $5,249 |
How This Compares to Idaho's Median
A $800K home is 90% above Idaho's median of $420K. This puts you in the upper range of the Idaho market, targeting more desirable neighborhoods or larger properties.
Income Needed for a $800K Home in Idaho
To afford this payment of $5,524/mo in Idaho, you'd need a household income of approximately $237K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $250K salary can afford →Closing Costs in Idaho
Estimated closing costs in Idaho: $12K (1.5% of purchase price). Idaho has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $800K Mortgage in Idaho
With 10% down ($80,000), your loan of $720,000 at 6.5% over 30 years produces a principal and interest payment of $4,551/mo. Adding Idaho's 0.63% property tax ($420/mo) and $1,600/yr insurance ($133/mo) brings your total to $5,524/mo. Because you're putting less than 20% down, PMI adds $420/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $918,320 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $86,144 over the life of the loan.