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Compare Elkhart, 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 Elkhart.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Elkhart. Plus, shopping lenders is free and there is no obligation.
Loan terms assume conforming mortgage amount on single family residence, 80% LTV ratio and minimum borrower credit score of 740. $150,000 minimum mortgage amount. Borrower is responsible for $1,055 lender fee. Loan terms are subject to change without notice.
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Compare Today's Elkhart, IN Mortgage Rates
July 11, 2025
Current mortgage rates in Elkhart, 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
Today's Elkhart, IN Rates
National Average
Comparison
30 Year Fixed Rate
%
6.670%
15 Year Fixed Rate
%
5.960%
5/1 Adjustable Rate Mortgage
%
6.250%
How Affordable is Housing in Elkhart, Indiana?
Below we provide helpful information on the real estate market, home prices and housing affordability in Elkhart. Understand how much you need to earn to afford a home in Elkhart, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Elkhart 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 Elkhart is right for you.
The median home value for Elkhart, IN is $201,640
Based on current mortgage rates and a 10% down payment, you need to make $42,065 per year to buy the median priced home in Elkhart
With this income, you could qualify for a $181,476 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 Elkhart is $974
The median household income for Elkhart, IN is $61,021
Based on this income, you can afford a home valued at approximately $292,504
The home price you can afford to buy based on household income in Elkhart is 145% of the median home value which means housing prices are average.
Elkhart ranks 82 out of 92 counties in Indiana and 2,017 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Elkhart, IN is average
Loan Limits for Elkhart, Indiana
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Elkhart below.
Conforming loan limits for Elkhart, IN
1 unit:$726,200
2 units:$929,850
3 units:$1,123,900
4 units:$1,396,800
FHA loan limits for Elkhart, IN
1 unit:$472,030
2 units:$604,400
3 units:$730,525
4 units:$907,900
VA loan limits for Elkhart, IN
1 unit:$726,200
Additional Mortgage Resources for Elkhart, IN Residents