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Fort Wayne

Current Mortgage Rates in Fort Wayne, Indiana

Compare mortgage rates and fees for leading lenders in Fort Wayne, IN. 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 lender offering the best mortgage rates in Fort Wayne.

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

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Mortgage Rates in Fort Wayne, IN as of April 5, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Fort Wayne, IN Mortgage Rates Compare?

April 5, 2020

The current average rate for a 30 year fixed rate mortgage in Fort Wayne 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%

Mortgage Program
Today's
Fort Wayne, IN Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Fort Wayne, Indiana?

Below we provide helpful information on the real estate market, home prices and housing affordability in Fort Wayne. Understand how much you need to earn to afford a home in Fort Wayne, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Fort Wayne 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 Fort Wayne is right for you.

The median home value for Fort Wayne, IN (Allen County) is $160,998

Based on current mortgage rates and a 10% down payment, you need to make $28,975 per year to buy the median priced home in Fort Wayne

With this income, you could qualify for a $144,898 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 Fort Wayne is $671

The median household income for Fort Wayne, IN (Allen County) is $53,883

Based on this income, you can afford a home valued at approximately $299,391

The home price you can afford to buy based on household income in Fort Wayne is 186% of the median home value which means housing prices are average. Fort Wayne (Allen County) ranks 79 out of 92 counties in Indiana and 1,842 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Fort Wayne, Indiana

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

Conforming loan limits for Fort Wayne, IN

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Fort Wayne, IN

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Fort Wayne, IN

1 unit: $510,400

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