Mortgage rates in Indiana
30-yr fixed 7.18% · Freddie Mac PMMS, week of Nov 5, 2026 · APR benchmark 7.19% (APOR for locks from Nov 9, 2026) · Last reviewed Oct 18, 2026 by the Editorial Team
Indiana remains one of the more affordable Midwestern markets.
Mortgage rates today by loan type
These are national averages. Lenders in Indiana price off the same national market, so treat them as a benchmark: your quote depends on your credit, down payment, loan size and points. The APR benchmark folds in typical points and fees, so it shows what a prime borrower's APR looks like this week.
| Loan type | Avg rate | APR benchmarkAPOR | Source · as of | What it measures |
|---|---|---|---|---|
| 30-year fixed | 7.18% | 7.19% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 20-year fixed | 6.66% | 6.93% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 15-year fixed | 6.57% | 6.67% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 10-year fixed | 6.31% | 6.82% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 5-year ARM | 6.73% | 6.67% | Zillow (via NerdWallet)Nov 6, 2026 | Fixed for 5 years, then adjusts; APOR = prime ARM benchmark |
| 7-year ARM | — | 6.50% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| 10-year ARM | — | 6.63% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| FHA 30-year | 6.89% | — | Optimal Blue OBMMINov 5, 2026 | Locked FHA loans, all credit profiles; daily |
| VA 30-year | 6.71% | — | Optimal Blue OBMMINov 5, 2026 | Locked VA loans; daily |
| USDA 30-year | 6.86% | — | Optimal Blue OBMMINov 5, 2026 | Locked USDA loans; daily |
| Jumbo 30-year | 7.25% | — | Optimal Blue OBMMINov 5, 2026 | Locked loans above the conforming limit; daily |
APR benchmark = FFIEC/CFPB Average Prime Offer Rate for rate locks in the week starting Nov 9, 2026 (published in advance): a prime borrower's APR including typical points and fees. It is not a quote; your APR depends on credit, down payment and the points you pay. APOR is not published for FHA, VA, USDA or jumbo loans.
Calculate your Indiana mortgage payment
The calculator starts from Indiana's median list price, 20% down, the state's 0.74% effective property tax, its median insurance premium and its average closing costs. Switch to FHA or VA, change the down payment, or pick your county to set its conforming limit. For the month-by-month split of principal and interest, open the month-by-month amortization. To see how Indiana's property tax and insurance compare with every other state, try the taxes-and-insurance payment calculator.
Indiana vs. the U.S.
Indiana's median list price is 29% below the U.S. median, so at the same 7.18% rate the principal and interest on a 20%-down loan runs $651 a month less. Five-year price growth here was the 16th-fastest of 51 jurisdictions.
| Measure | Indiana | U.S. |
|---|---|---|
| Median list priceRealtor.com, Oct 2026 | $294,900 | $415,000 |
| Principal + interest, 20% down30-yr avg 7.18% | $1,598 | $2,249 |
| Average home-purchase loanHMDA 2025 | $297,610 | $404,828 |
| Average closing costsincl. transfer taxes | $1,810 | $4,661 |
| Median conventional rate paid2025 purchase loans | 6.63% | 6.50% |
| Mortgage approval rateHMDA 2025 | 79.0% | 76.6% |
| Home values, 1 yearFHFA index, Q2 2026 | +4.6% | +3.0% |
| Home values, 5 yearsFHFA index, Q2 2026 | +46.7% | +41.3% |
What Indiana borrowers actually paid in 2025
This is the state-specific part. Federal HMDA records show the rate and costs on every Indiana home-purchase loan closed in 2025. We compare like with like: 30-year fixed, first-lien, one-unit primary homes. On conventional loans, Indiana borrowers paid 0.07 percentage points above the market benchmark at lock, the 8th-highest of all 50 states and the District of Columbia.
| 2025 purchase loans | Median rateIN · U.S. | Over benchmarkIN · U.S. | Closing costsIN · U.S. | Paid pointsshare of loans | Median downequity on refis · IN |
|---|---|---|---|---|---|
| Conventional 30-yr fixed (conforming, 20%+ down)16,465 loans | 6.63%6.50% | +0.07+0.02 | $3,273$5,476 | 49.3%53.2% | 20.7% |
| Jumbo 30-yr fixed (20%+ down)135 loans | 6.63%6.63% | −0.02+0.00 | $4,712$10,251 | 32.6%38.4% | 20% |
| FHA 30-yr fixed13,751 loans | 6.50%6.25% | +0.64+0.42 | $8,134$11,291 | 57.6%59.3% | 3.5% |
| VA 30-yr fixed5,187 loans | 6.25%6.13% | −0.17−0.36 | $4,222$6,554 | 61.3%59.3% | 0% |
| Conventional rate-and-term refinance3,239 loans | 6.38%6.38% | +0.01−0.06 | $3,315$4,390 | 47.7%45.4% | 30.2% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), medians. "Over benchmark" = rate spread, the APR minus APOR on the lock date, which removes the effect of when each loan locked. Closing costs = total loan costs on the Closing Disclosure. HMDA has no credit scores, so these are what borrowers paid, not what you will be offered. See the lenders active in Indiana and what their borrowers paid.
Indiana's biggest conventional lenders: what their borrowers paid
The 8 largest conventional lenders in Indiana by 2025 purchase loans, out of 768 that made one. Each row is the median for that lender's comparable loans here: 30-year fixed, conforming, 20% or more down. A lower figure over the benchmark means cheaper pricing for the same week.
| Lender | 2025 loansshare in IN | Median rate | Over benchmark | Originationmedian | Paid pointsshare · median | Median down |
|---|---|---|---|---|---|---|
| Ruoff Mortgage Company, Inc. | 3,8286.3% | 6.75% | +0.15 | $1,585 | 54%$776 | 21% |
| United Wholesale Mortgage | 2,2583.7% | 6.50% | +0.03 | $2,785 | 47%$1,548 | 20.9% |
| Rocket Mortgage | 2,0713.4% | 6.63% | +0.04 | $2,675 | 73%$2,489 | 23% |
| Gvc Mortgage, Inc. | 1,8733.1% | 6.75% | +0.26 | $2,067 | 62%$1,196 | 20% |
| Fairway Independent Mortgage | 1,8593.1% | 6.63% | +0.08 | $1,595 | 54%$1,885 | 21.2% |
| Chase | 1,5812.6% | 6.49% | −0.11 | $1,482 | 63%$1,370 | 20% |
| Lennar Mortgage | 1,4342.4% | 5.38% | −1.20 | $1,395 | 85%$6,046 | 20% |
| Union Home Mortgage | 1,1141.8% | 6.88% | +0.34 | $2,091 | 62%$856 | 21% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), lenders with at least 30 comparable loans in Indiana. Minimum credit scores are not shown here: conventional loans usually start at 620 (a lender floor; Fannie Mae's automated underwriting sets none), FHA 580 (500 with 10% down), VA none set by VA (lenders often 620). HMDA has no credit scores, so a lender's medians reflect its own mix of borrowers. FHA and VA lenders: Indiana lender rankings.
How rates have moved
Weekly national averages over the past 30 days to 5 years. The 30- and 15-year lines are Freddie Mac average rates; the ARM lines are the APOR APR benchmark, because no free weekly ARM rate series exists.
- Now
- 7.18%
- Nov 5, 2026
- 1 week ago
- 7.24%
- −0.06 pts
- 1 month ago
- 7.40%
- −0.22 pts
- 1 year ago
- 6.22%
- +0.96 pts
30-year fixed: Freddie Mac PMMS (rate), weekly. National series.
What a mortgage costs in Indiana
On a home at Indiana's median list price of $294,900 with 20% down, the loan works out to $235,920, or about $1,598 a month in principal and interest at the 7.18% 30-year average.
What makes Indiana different is the cost around the loan. Its 0.74% effective property-tax rate adds roughly $182 a month, and homeowners insurance — at the state's median 0.54% of home value — about $133 more, bringing the all-in estimate to $1,914. That figure is principal and interest at the 30-year average, property tax and insurance; at 20% down a conventional loan has no PMI, and HOA dues or local special assessments are not included. Your own price and down payment will move the number — work backward from your income with the price-you-can-afford calculator.
Payment at the $294,900 median list price by down payment and loan type
| Loan | Rate | Monthlyall-in | Mortgage ins. | Cash to close | Income needed28% rule · yearly |
|---|---|---|---|---|---|
| Conventional, 20% downNo PMI | 7.18%Freddie Mac 30-yr avg | $1,914P&I $1,598 | — | $60,790 | $82,000 |
| Conventional, 10% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $2,268P&I $1,798 | $155 | $31,300 | $97,000 |
| Conventional, 5% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $2,377P&I $1,898 | $163 | $16,555 | $102,000 |
| Conventional, 3% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $2,420P&I $1,938 | $167 | $10,657 | $104,000 |
| FHA, 3.5% down1.75% upfront MIP financed + annual MIP | 6.89%OBMMI FHA avg | $2,351P&I $1,905 | $130 | $12,132 | $101,000 |
| VA, 0% down2.15% funding fee financed; no monthly MI | 6.71%OBMMI VA avg | $2,261P&I $1,946 | — | $1,810 | $97,000 |
Monthly = principal and interest + property tax (0.74% effective) + homeowners insurance (about $133/mo — Indiana's median premium, 0.54% of home value) + mortgage insurance. HOA dues and local special assessments are not included. Cash to close = down payment + Indiana's average closing costs ($1,810). PMI is an illustrative 0.7% a year; FHA and VA figures use HUD's MIP schedule and VA's first-use funding fee. Income needed = the gross yearly income at which the monthly figure is 28% of pay, the classic housing-cost guideline. Lenders also limit your total monthly debts as a share of income, so car, student-loan and card payments raise the income you need.
Prices, loan limits and payments in Indiana's biggest counties
Home prices, and so the loan you need, vary more inside Indiana than rates do. The table covers the largest county markets. Pick a row to load it into the calculator above.
| County | Median list priceSep 2026 · yr/yr | Avg purchase loanHMDA 2025 | Conforming limitmax price at 20% down | At 20% down | Est. paymentP&I + tax + ins. | Calculator |
|---|---|---|---|---|---|---|
| Marion County3,362 homes for sale · Sep 2026 | $249,945-5.7% | $259,51211,615 loans | $832,750$1,040,937 | Conforming$199,956 loan | $1,622at 7.18% | |
| Lake County1,366 homes for sale · Sep 2026 | $309,997+3.6% | $265,3156,097 loans | $832,750$1,040,937 | Conforming$247,998 loan | $2,011at 7.18% | |
| Hamilton County1,065 homes for sale · Sep 2026 | $449,450-6.2% | $454,3006,517 loans | $832,750$1,040,937 | Conforming$359,560 loan | $2,916at 7.18% | |
| Allen County859 homes for sale · Sep 2026 | $309,675+0.3% | $259,8675,519 loans | $832,750$1,040,937 | Conforming$247,740 loan | $2,009at 7.18% | |
| St. Joseph County626 homes for sale · Sep 2026 | $310,000+7.5% | $259,2993,017 loans | $832,750$1,040,937 | Conforming$248,000 loan | $2,011at 7.18% | |
| Clark County621 homes for sale · Sep 2026 | $320,000+6.7% | $309,0732,146 loans | $832,750$1,040,937 | Conforming$256,000 loan | $2,076at 7.18% | |
| Vanderburgh County565 homes for sale · Sep 2026 | $216,825+1.6% | $211,5112,273 loans | $832,750$1,040,937 | Conforming$173,460 loan | $1,407at 7.18% | |
| Monroe County557 homes for sale · Sep 2026 | $365,000-3.7% | $349,6031,334 loans | $832,750$1,040,937 | Conforming$292,000 loan | $2,368at 7.18% | |
| Hendricks County520 homes for sale · Sep 2026 | $360,675-3.8% | $332,9943,275 loans | $832,750$1,040,937 | Conforming$288,540 loan | $2,340at 7.18% | |
| Johnson County509 homes for sale · Sep 2026 | $358,126+6.9% | $321,9623,005 loans | $832,750$1,040,937 | Conforming$286,501 loan | $2,324at 7.18% | |
| Porter County494 homes for sale · Sep 2026 | $415,649+4% | $314,9742,292 loans | $832,750$1,040,937 | Conforming$332,519 loan | $2,697at 7.18% | |
| Madison County438 homes for sale · Sep 2026 | $193,000-13.6% | $202,5931,691 loans | $832,750$1,040,937 | Conforming$154,400 loan | $1,252at 7.18% |
Sources: Realtor.com county research data (median listing price, Sep 2026); FHFA 2026 one-unit conforming limits; 2025 HMDA home-purchase originations (average loan, all loan types). Payments use the 30-year average (7.18%, or the jumbo average 7.25% above the limit), Indiana's 0.74% effective property tax and its median insurance premium (0.54% of value), both from Census ACS 2024 data; county tax rates differ. Max price at 20% down = the county limit ÷ 0.8, the highest price at which a 20%-down loan stays conforming. Homes for sale = active Realtor.com listings in the month, excluding pending sales.
What's different about buying a home in Indiana
Rates are national, but the rules around the loan are not. These Indiana specifics can change your payment, your closing or your protections as a borrower.
Property taxes capped at 1% on homesteads
Indiana limits property taxes to 1% of property value for owner-occupied homesteads, 2% for other residential property and farmland, and 3% for all other property. A credit applied automatically trims any bill above the cap, but the 1% rate requires a homestead deduction on file. Voter-approved referendum taxes fall outside the caps.
Source: boonecounty.in.govHomestead deduction must be claimed by January 15
Indiana homeowners must apply for the homestead standard deduction; for taxes first due in 2027, by January 15, 2027. Once approved, you generally need not reapply unless the deed, marital status or property use changes. The standard amount is stepping down from $48,000 (taxes payable 2026) to $40,000 (2027) as a supplemental deduction grows.
Source: hamiltoncounty.in.govRight to a foreclosure settlement conference
Indiana gives borrowers in foreclosure cases filed after July 1, 2009 the legal right to request a settlement conference with the mortgage lender, with some exceptions. For a new buyer, that is a structured chance to negotiate a workout instead of foreclosure, and Indiana Foreclosure Prevention Network counselors offer free, confidential help.
Source: hamiltoncounty.in.govTwo-day exit after a late seller disclosure
Under Indiana's seller-disclosure law (IC 32-21-5), a buyer who receives a disclosure form, or an amended one, after an offer is accepted that discloses a defect may nullify the contract within two business days. The buyer must deliver a written rescission to the owner or the owner's agent, so review the form promptly.
Source: iga.in.govChecked against official sources on October 18, 2026. Laws and programs change; confirm details with the agency named or a local real estate attorney.
How Indiana buyers finance their homes
USDA loans are where Indiana stands out: they made up 1.0% of home loans originated here in 2025, against 0.6% nationally — the 14th-highest USDA share of any state. Lenders, agents and appraisers here handle USDA deals routinely, which helps if that is the loan you need.
| Loan type | Share in IN | U.S. share | Approval in IN | Avg loan in IN |
|---|---|---|---|---|
| Conventional | 78.3% | 78.0% | 79.1% | $240,106 |
| FHA | 14.4% | 13.2% | 76.7% | $235,706 |
| VA | 6.3% | 8.2% | 81.4% | $295,416 |
| USDA | 1.0% | 0.6% | 89.4% | $190,344 |
The average Indiana home loan in 2025 was $242,490 — 31% below the U.S. average of $352,861, the 9th-smallest of 51 jurisdictions. Home purchases accounted for 61.3% of those loans (U.S. 64.2%); cash-out refinances for 20.0% (U.S. 17.1%), so owners here tapped home equity more often than most.
Source: 2025 HMDA originations, FFIEC/CFPB. Approval = originated ÷ (originated + denied).
Indiana loan limits for 2026
All 92 of Indiana's counties use the 2026 baseline conforming limit of $832,750 for a one-unit home. Any loan above that is a jumbo loan here, which usually means a larger down payment and cash reserves. See the full national grid in our national loan limit grid.
County limits: FHFA 2026 conforming loan limit list (one-unit properties; two- to four-unit limits are higher).
Cash you'll need to close in Indiana
Average closing costs in Indiana are about $1,810 including transfer taxes (among the lowest in the country). On a home at the median list price of $294,900:
| 20% down | 3% down | |
|---|---|---|
| Down payment | $58,980 | $8,847 |
| Average closing costs | $1,810 | $1,810 |
| Cash to close (estimate) | $60,790 | $10,657 |
Prepaid taxes and insurance are extra. Closing-cost averages by state (source: Bankrate).
Transfer taxes and recording rules in Indiana
Indiana has no real estate transfer tax. Instead, a sales disclosure form (State Form 46021) must accompany the deed, reviewed by the county assessor and filed with the county auditor along with a $20 fee. Source: in.gov
Getting approved in Indiana
Federal HMDA lending records show Indiana lenders originated 178,349 home loans in 2025 and denied 47,461 applications — an approval rate near 79% among decisioned applications, against 76.6% nationwide. See how all 50 states compare in our state-by-state approval data, and how Indiana ranks for lender complaint report (4,736 on record).
Shopping for a loan? See the most active mortgage lenders in Indiana, ranked by federal HMDA volume.
Down-payment help in Indiana
You rarely need 20% down. These are the main programs from IHCDA, Indiana's housing finance agency; they are offered through participating lenders, usually alongside the agency's own first mortgage.
First Step
IHCDA's first-time buyer program: a 30-year fixed FHA or conventional loan plus down-payment assistance of 5% of the price as a 0%, no-payment second mortgage, repaid when you sell, refinance or move out.
Source: in.govNext Home
Down-payment assistance of 2.5% or 3.5% of the price for qualifying buyers who don't have to be first-timers.
Source: in.govChecked against official sources on October 9, 2026. Assistance amounts, income limits and funding change during the year — confirm current terms with IHCDA or a participating lender.
Is there an MCC in Indiana? Not confirmed
IHCDA's homeowner pages list only an MCC re-issuance affidavit for existing holders, and its February 2026 homeownership program guide doesn't include an MCC. MCC programs by state.
Check current terms at IHCDA, see how a smaller down payment changes your number with the down-payment size calculator, or compare nationwide assistance programs.
How these numbers are measured
- Freddie Mac PMMS (30- and 15-year): a weekly average of rates offered to borrowers with 20% down and strong credit, published Thursdays; latest week Nov 5, 2026. Points are not reported.
- Optimal Blue OBMMI (FHA, VA, USDA, jumbo): daily averages of rates actually locked, across credit profiles. Points vary by loan.
- APOR (APR benchmark): FFIEC/CFPB's weekly Average Prime Offer Rate, an APR that includes typical points and fees for a prime borrower. Regulators use it to flag higher-priced loans.
- HMDA 2025 (Indiana vs U.S.): rates, costs, points and down payments on loans that actually closed, reported by lenders to federal regulators. Updated once a year.
- Census ACS 2024 (property tax and insurance): what homeowners with a mortgage in Indiana reported paying — the median real-estate tax divided by the median home value, and the median insurance premium as a share of value. Updated once a year.
- Interest rate vs APR: the rate sets your payment; the APR adds points and lender fees spread over the loan. Compare APRs on Loan Estimates for the same day and loan type.
Rates and APOR refresh every week; HMDA, loan limits and closing-cost averages refresh when their publishers release new data. Reviewed by our editorial desk. Full sources and formulas: sourcing notes.
Indiana mortgage FAQ
What is a good mortgage rate in Indiana right now?
A 30-year fixed close to the national average of 7.18% (Freddie Mac, week of Nov 5, 2026) is a fair benchmark for a borrower with strong credit and 20% down. In 2025, Indiana's conventional buyers paid a median 6.63%.
Quotes well above that usually reflect lower credit, a small down payment or lender credits taken in exchange for a higher rate.
Are mortgage rates higher in Indiana than in other states?
Slightly. In 2025 HMDA records, Indiana's median conventional 30-year rate was 6.63%, against 6.50% nationally. Against the benchmark for each loan's lock week, which counts points and fees, Indiana loans priced 0.07 percentage points above it (the 8th-highest of all 50 states and the District of Columbia), against 0.02 above nationally.
Rates are set mainly in one national market, so your credit, down payment and loan size matter more.
What are current jumbo mortgage rates in Indiana?
The national jumbo 30-year average is 7.25% (Optimal Blue). In 2025, Indiana's jumbo buyers paid a median 6.63%. A loan is jumbo above the $832,750 conforming limit, which applies in every Indiana county.
Jumbo lenders typically want 10–20% down, a 700+ credit score and 6–12 months of reserves.
Should I choose a 15-year or 30-year mortgage?
On a $235,920 loan (20% down on Indiana's median list price), a 30-year at 7.18% costs $1,598 a month and a 15-year at 6.57% costs $2,064.
The 15-year saves about $203,796 in interest but needs $466 more a month, so it fits only if that payment is comfortable.
How much does a 1% difference in mortgage rates change my monthly payment?
On a $235,920 loan (20% down on Indiana's median list price), moving from 7.18% to 8.18% raises the principal-and-interest payment from $1,598 to $1,761, or $163 a month.
Over 30 years that is about $58,532 more in interest, which is why comparing several lenders on the same day matters.
Are mortgage rates different for purchase and refinance loans?
Yes, slightly. In 2025, Indiana's conventional rate-and-term refinances closed at a median 6.38% and purchases at 6.63%, partly because refinances bunch up when rates dip. Refinances priced 0.01 percentage points above the market benchmark; cash-out refinances usually cost more. Your own pricing depends on credit, loan-to-value and points.
How much is a $400,000 mortgage at 7.18% interest?
About $2,710 a month in principal and interest over 30 years. In Indiana, a $500,000 home with that loan adds roughly $308 a month in property tax at the 0.74% effective rate, plus homeowners insurance. Over 30 years the loan costs about $575,506 in interest.
How much income do I need to buy a home in Indiana?
About $82,000 a year for a home at the $294,900 median list price with 20% down, if the full $1,914 monthly payment, including tax and insurance, stays within 28% of gross income.
Smaller down payments add mortgage insurance and raise that figure; existing debts lower what lenders approve.
What down payment assistance is available in Indiana?
IHCDA, the state housing finance agency, runs First Step and Next Home, offered through participating lenders. Help usually comes as a grant or a deferred or forgivable second loan paired with the agency's first mortgage.
Amounts, income limits and funding change during the year, so confirm current terms with IHCDA or a participating lender before you apply.
- Freddie Mac — Primary Mortgage Market Survey
- FFIEC / CFPB — Average Prime Offer Rates (APOR)
- FFIEC / CFPB — HMDA data browser (2025 loan-level records)
- Optimal Blue OBMMI via FRED (FHA, VA, USDA, jumbo)
- FHFA — 2026 conforming loan limits by county
- U.S. Census Bureau — 2024 American Community Survey microdata (property tax and homeowners insurance)
- HUD — Handbook 4000.1 (FHA mortgage insurance)
Rates shown are national weekly averages for general guidance, not an offer or personalized quote. Payment estimates assume the down payment noted plus estimated taxes and insurance. Confirm current pricing with a licensed lender.