Compare Evansville, 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 Evansville.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Evansville. Plus, shopping lenders is free and there is no obligation.
May 24, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Evansville. Understand how much you need to earn to afford a home in Evansville, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Evansville 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 Evansville is right for you.
The median home value for Evansville, IN (Vanderburgh County) is $165,165
Based on current mortgage rates and a 10% down payment, you need to make $27,062 per year to buy the median priced home in Evansville
With this income, you could qualify for a $148,649 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 Evansville is $627
The median household income for Evansville, IN (Vanderburgh County) is $55,503
Based on this income, you can afford a home valued at approximately $338,750
The home price you can afford to buy based on household income in Evansville is 205% of the median home value which means housing prices are affordable. Evansville (Vanderburgh County) ranks 72 out of 92 counties in Indiana and 1,628 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Evansville, IN is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Evansville (Vanderburgh County) below.
Conforming loan limits for Evansville, IN
FHA loan limits for Evansville, IN
VA loan limits for Evansville, IN