Monthly Payment on a $300K Mortgage in Idaho
Using Idaho's 0.63% property tax rate and $1,600/yr homeowners insurance.
$300K 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% | $2,075 | $1,981 | $1,654 |
| 6.0% | $2,166 | $2,067 | $1,730 |
| 6.5% | $2,258 | $2,155 | $1,808 |
| 7.0% | $2,353 | $2,245 | $1,888 |
| 7.5% | $2,450 | $2,336 | $1,969 |
| 8.0% | $2,548 | $2,429 | $2,052 |
How This Compares to Idaho's Median
A $300K home is 29% below Idaho's median of $420K. You'll find homes at this price in cities like Pocatello, Blackfoot, Burley.
Income Needed for a $300K Home in Idaho
To afford this payment of $2,155/mo in Idaho, you'd need a household income of approximately $92K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $90K salary can afford →Closing Costs in Idaho
Estimated closing costs in Idaho: $5K (1.5% of purchase price). Idaho has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $300K Mortgage in Idaho
With 10% down ($30,000), your loan of $270,000 at 6.5% over 30 years produces a principal and interest payment of $1,707/mo. Adding Idaho's 0.63% property tax ($158/mo) and $1,600/yr insurance ($133/mo) brings your total to $2,155/mo. Because you're putting less than 20% down, PMI adds $158/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $344,370 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $32,304 over the life of the loan.