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.
December 9, 2019
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%
The median home value for Indiana is $153,898
The median household income for Indiana is $55,098
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Indiana is $28,553
The home price you can afford to buy based on household income in Indiana is 193% 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
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
FREEandCLEAR Housing Affordability Index