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Compare Muncie, 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 Muncie.
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Muncie, IN Mortgage Rates as of September 30, 2023
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 Muncie, IN Mortgage Rates
September 30, 2023
Current mortgage rates in Muncie, 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 Muncie, IN Rates
National Average
Comparison
30 Year Fixed Rate
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7.190%
15 Year Fixed Rate
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6.540%
5/1 Adjustable Rate Mortgage
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6.750%
How Affordable is Housing in Muncie, Indiana?
Below we provide helpful information on the real estate market, home prices and housing affordability in Muncie. Understand how much you need to earn to afford a home in Muncie, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Muncie 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 Muncie is right for you.
The median home value for Muncie, IN (Delaware County) is $123,170
Based on current mortgage rates and a 10% down payment, you need to make $25,695 per year to buy the median priced home in Muncie
With this income, you could qualify for a $110,853 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 Muncie is $595
The median household income for Muncie, IN (Delaware County) is $51,234
Based on this income, you can afford a home valued at approximately $245,591
The home price you can afford to buy based on household income in Muncie is 199% of the median home value which means housing prices are average.
Muncie (Delaware County) ranks 30 out of 92 counties in Indiana and 804 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 average
Loan Limits for Muncie, Indiana
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
1 unit:$726,200
2 units:$929,850
3 units:$1,123,900
4 units:$1,396,800
FHA loan limits for Muncie, IN
1 unit:$472,030
2 units:$604,400
3 units:$730,525
4 units:$907,900
VA loan limits for Muncie, IN
1 unit:$726,200
Additional Mortgage Resources for Muncie, IN Residents