Compare mortgage rates and fees for leading lenders in Muncie, 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 Muncie.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Muncie. Plus, shopping lenders is free and there is no obligation.
October 23, 2019
The current average rate for a 30 year fixed rate mortgage in Muncie 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%
The median home value for Muncie, IN (Delaware County) is $97,350
The median household income for Muncie, IN (Delaware County) is $42,468
Based on current mortgage rates and a 10% down payment, you need to make $18,061 per year to buy the median priced home in Muncie
The home price you can afford to buy based on household income in Muncie is 235% of the median home value which means housing prices are affordable
Muncie (Delaware County) ranks 40 out of 92 counties in Indiana and 925 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Muncie, IN is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Muncie (Delaware County) below.
Conforming loan limits for Muncie, IN
FHA loan limits for Muncie, IN
VA loan limits for Muncie, IN
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