»
»
Indianapolis

Current Mortgage Rates in Indianapolis, Indiana

Compare mortgage rates and fees for leading lenders in Indianapolis, 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 Indianapolis.

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

%
Mortgage Rates in Indianapolis, IN as of September 22, 2019
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact

%
Get Personalized Mortgage Quotes for Indianapolis, IN

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.

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.

How Do Today's Indianapolis, IN Mortgage Rates Compare?

September 22, 2019

The current average rate for a 30 year fixed rate mortgage in Indianapolis 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
Indianapolis, IN Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in Indianapolis, Indiana?

The median home value for Indianapolis, IN (Marion County) is $153,338

The median household income for Indianapolis, IN (Marion County) is $46,241

Based on current mortgage rates and a 10% down payment, you need to make $28,449 per year to buy the median priced home in Indianapolis

The home price you can afford to buy based on household income in Indianapolis is 163% of the median home value which means housing prices are average

Indianapolis (Marion County) ranks 91 out of 92 counties in Indiana and 2,336 out of 3,142 counties in the United States for housing affordability.

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

orange-simple-house
ruler

Loan Limits for Indianapolis, Indiana

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

Conforming loan limits for Indianapolis, IN

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Indianapolis, IN

1 unit: $343,850
2 units: $440,200
3 units: $532,100
4 units: $661,250

VA loan limits for Indianapolis, IN

1 unit: $484,350

Additional Mortgage Resources for Indianapolis, IN Residents

Mortgage Rates for Indiana Cities

Anderson Mortgage Rates

Bloomington Mortgage Rates

Carmel Mortgage Rates

Elkhart Mortgage Rates

Evansville Mortgage Rates

Fort Wayne Mortgage Rates

Gary Mortgage Rates

Hendricks Mortgage Rates

Indianapolis Mortgage Rates

Jeffersonville Mortgage Rates

Johnson Mortgage Rates

La Porte Mortgage Rates

Lafayette Mortgage Rates

Muncie Mortgage Rates

South Bend Mortgage Rates

Terre Haute Mortgage Rates

Valparaiso Mortgage Rates

Sources

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/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index