Idaho Central Credit Union Mortgage Interest Rate and Cost Review

Is Idaho Central Credit Union a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Idaho Central Credit Union with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratelower than average (-0.13%)
Loan Related Closing Costssimilar to average (-$102)
National Rate and Closing Cost Rating(4.0)

On average, Idaho Central Credit Union’s interest rates were lower than those of other lenders (-0.13%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of -$102. Overall, combining interest rates and closing costs we estimate that Idaho Central Credit Union tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.0 out of 5.0 stars.

Idaho Central Credit Union’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Idaho Central Credit Union was most active in:

  1. Boise City, ID
  2. Idaho Falls, ID
  3. Twin Falls, ID
  4. Hayden, ID
  5. Burley, ID

Furthermore, Idaho Central Credit Union is our top ranked mortgage lender in terms of interest rate and closing costs in:

  1. Boise City, ID, for FHA, and Jumbo mortgages
  2. Idaho Falls, ID, for FHA mortgages
  3. Twin Falls, ID, for FHA mortgages
  4. Burley, ID, for FHA mortgages
  5. McCall, ID, for Jumbo mortgages
  6. Fruitland, ID, overall

You can click through to check out Idaho Central Credit Union’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Idaho Central Credit Union’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Idaho Central Credit Union originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA, Jumbo and VA mortgages for refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.07%-0.15%-0.10%-0.02%-0.09%
Loan Related Closing Cost Difference+$5+$33-$514+$5-$137
Cost Adjusted Rate Difference-0.07%-0.15%-0.11%-0.02%-0.10%
Star Rating(4.0)(4.0)(4.0)(3.5)(4.0)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference-0.22%-0.11%-0.11%-0.09%
Loan Related Closing Cost Difference-$253-$25-$408-$210
Cost Adjusted Rate Difference-0.26%-0.11%-0.12%-0.10%
Star Rating(5.0)(4.0)(4.0)(4.0)

As a summary, Idaho Central Credit Union is cheap for Conforming, FHA, Jumbo and VA purchase mortgages. It is similar to other lenders for USDA purchase mortgages. For refinancing mortgages, Idaho Central Credit Union is cheap for Conforming, FHA, Jumbo and VA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about Idaho Central Credit Union:

Registered name: Idaho Central Credit Union
Registered city and state: Chubbuck, ID, 83202
Regulator: National Credit Union Administration (NCUA)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Idaho Central Credit Union’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.