Compare Current Carmel, Indiana Mortgage Rates

Compare Carmel, IN mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Carmel.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Carmel. Plus, shopping lenders is free and there is no obligation.

Carmel, IN Mortgage Rates as of November 29, 2023
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Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes or insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details. Data provided by Icanbuy. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Carmel, IN Mortgage Rates

November 29, 2023

Current mortgage rates in Carmel, IN are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Carmel, IN Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Carmel, Indiana?

Below we provide helpful information on the real estate market, home prices and housing affordability in Carmel. Understand how much you need to earn to afford a home in Carmel, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Carmel fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Carmel is right for you.

The median home value for Carmel, IN (Hamilton County) is $384,066

Based on current mortgage rates and a 10% down payment, you need to make $80,122 per year to buy the median priced home in Carmel

With this income, you could qualify for a $345,659 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 Carmel is $1,855

The median household income for Carmel, IN (Hamilton County) is $103,948

Based on this income, you can afford a home valued at approximately $498,273

The home price you can afford to buy based on household income in Carmel is 130% of the median home value which means housing prices are average. Carmel (Hamilton County) ranks 90 out of 92 counties in Indiana and 2,331 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Carmel, IN is average


Loan Limits for Carmel, Indiana

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Carmel (Hamilton County) below.

Conforming loan limits for Carmel, IN

1 unit: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Carmel, IN

1 unit: $472,030
2 units: $604,400
3 units: $730,525
4 units: $907,900

VA loan limits for Carmel, IN

1 unit: $726,200

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