Idaho Mortgage Update: Conforming Loan Limits, USDA Changes & Rising Rates

Watch This Week's Mortgage Update 🎥

I break it all down in this week's video update. Watch below:

https://youtube.com/shorts/7v4ZYsqwGW8

Idaho Mortgage Update: Conforming Loan Limits, USDA Changes & Rising Rates

Happy Friday, Idaho! 🍂 Fall is here, and so are some big updates in the mortgage world. If you're looking to buy or refinance a home in Boise, Meridian, Nampa, or anywhere across our great state, here are three key things you need to know this week.

1. Higher Conforming Loan Limits

More and more lenders are now accepting the new conforming loan limit of $819,000. That means if your loan amount is at or below $819,000, you'll qualify for conforming loan programs - and the better interest rates that come with them.

Anything above $819,000 becomes a jumbo loan, which usually carries stricter guidelines and higher rates. This is great news for Idaho buyers in places like Boise or Eagle, where home prices have climbed over the years.

2. Interest Rates Are Rising

As of mid-week, mortgage rates have been on a steady climb for the past three days. That doesn't mean you should panic, but it does highlight why timing matters when locking in your rate.

👉 I've covered this more in-depth in Wednesday's blog (linked below), so check that out for a closer look at the current rate environment.

3. USDA Loan Guideline Changes

This one's exciting for many Idaho homebuyers! USDA Rural Development loans just loosened their guidelines:

• Higher allowable debt-to-income ratios

• Increased income limits

That makes it easier for more families to qualify. USDA loans are 100% financing, feature low mortgage insurance, and often come with some of the lowest interest rates available.

Where do USDA loans work in Idaho?
Most of Idaho qualifies, but Boise, Meridian, Nampa, and parts of Caldwell are excluded due to population size. Areas like Elmore County, Gem County, Owyhee County, and much of Eastern Idaho remain eligible - making USDA a powerful tool for buyers who want to keep their upfront costs low.

Need more information about USDA, see this web page:  USDA Idaho Loans

Final Thoughts

Between higher conforming loan limits, USDA loans becoming easier to qualify for, and rates on the move, Idaho homebuyers have a lot to keep an eye on.

If you're thinking about buying or refinancing, let's talk through your options. Whether it's USDA, conforming, or jumbo, I'll help you find the right fit for your situation.

👉 Contact me today to get started.

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