Compare mortgage rates and closing costs for leading lenders in Indiana. Review free, personalized mortgage rates for Indiana based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Indiana. Plus, shopping lenders is free and there is no obligation.
July 6, 2020
The current average rate for a 30 year fixed rate mortgage in Indiana is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
Below we offer valuable insights on the housing market and real estate prices in Indiana. Understand how much you need to make to buy a house in Indiana, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Indiana is affordable for you. We provide this helpful information to help you decide if living in Indiana is right for you.
The median home value for Indiana is $164,741
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Indiana is $29,649
With this income, you could qualify for a $148,267 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Indiana is $687
The median household income for Indiana is $56,385
Based on this income, you can afford a home valued at approximately $313,293
The home price you can afford to buy based on household income in Indiana is 190% of the median home value which means housing prices are super affordable. Indiana ranks 7 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Indiana is super affordable