Closing costs in Idaho: what buyers and sellers pay

Why there is no single “typical” total

Government bodies fix few closing costs: the county sets recording fees by statute, and the state reviews title premiums and escrow fees. The rest comes from private providers: the lender, appraiser, inspector, surveyor and the broker. Property tax proration and loan reserve deposits depend on the house, the closing date and the loan.

Your own numbers appear on two federal forms. The lender must give you a Loan Estimate within three business days of receiving your application, and you must get the Closing Disclosure at least three business days before closing (Consumer Financial Protection Bureau). For a walk-through of every line, see closing costs explained.

Line by line: what each cost is

Lender charges. Origination, appraisal, credit report and underwriting fees are set by the lender and the companies it hires. No Idaho rate table applies, so compare them on the Loan Estimate. See what a home appraisal costs.

Title insurance. Idaho Code § 41-2705 places title insurance under the Director of the Department of Insurance, including premium rates and escrow fees. Under § 41-2706, premium rates are those filed by an insurer or a rating organization with justification and approved by the Director’s order. That means each insurer files its own schedule. I did not read a statewide Idaho schedule, so this page does not quote a premium. Ask for the filed rate on your title commitment. For how the policies work, see title insurance explained.

Escrow fee. The statute says the escrow fees of title insurers and title agents are filed under rules of the Director (§ 41-2705(3)). Your title or escrow company will quote the amount.

Recording fees. The county recorder charges the party who requests the recording (Idaho Code § 31-3205). In Ada County, recording a deed costs $15, a deed of trust $45, and a reconveyance of a deed of trust $15, for up to 30 pages each, with $3 for each page beyond 30.

Transfer tax. None found in the sources read. See our transfer tax page for the sources and limits of that finding.

Survey, inspection and attorney. These are priced by the provider. See what a land survey costs, home inspection costs and when to hire an Idaho real estate attorney.

Prepaids and prorations. Idaho property tax is due in full by December 20 or in two halves, the first by December 20 and the second by June 20 (Idaho Code § 63-903). Because the bill arrives after the year it covers, the purchase agreement and the closing agent decide how the current year’s tax is split between buyer and seller. Lenders often collect taxes monthly in an escrow account. How much depends on your bill; see Idaho property tax.

Who pays what in Idaho

The statutes I read do not assign closing costs between buyer and seller. The purchase and sale agreement does. The table lists who the statutes read assign each item to, which is usually no one, so the contract controls: