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Best Mortgage Rates in Indiana — April 2026

Compare current Indiana mortgage rates across loan types. The average home price in Indiana is $240,000 with a property tax rate of 0.83%. Find the best rate for your Indiana home purchase or refinance.

Avg Home Price
$240,000
Property Tax Rate
0.83%
Median Income
$61,944
Population
6.8M

Current Indiana Mortgage Rates

Updated April 2026. Rates shown are averages — your rate depends on credit score, down payment, loan amount, and lender.

Loan TypeRateAPRMonthly P&I*
30-Year Fixed6.84%6.96%$1,257
20-Year Fixed6.61%6.71%$1,444
15-Year Fixed6.14%6.22%$1,635
10-Year Fixed5.94%6.01%$2,126
FHA 30-Year6.44%6.59%$1,206
VA 30-Year6.24%6.34%$1,181

*Monthly payment based on $192,000 loan (20% down on $240,000 avg home price). Does not include taxes or insurance.

Estimated Monthly Payment in Indiana

Full PITI breakdown for a $240,000 home with 20% down at 6.84%:

Principal & Interest$1,257
Property Taxes$166
Homeowners Insurance$70
Total Monthly (PITI)$1,493

Indiana First-Time Homebuyer Programs

IHCDA First Place Program

The Indiana Housing & Community Development Authority offers programs to help first-time buyers in Indiana achieve homeownership. Benefits typically include:

  • Below-market interest rates for qualifying borrowers
  • Down payment assistance (up to 3-5% of purchase price)
  • Closing cost assistance programs
  • Homebuyer education and counseling
  • Compatible with FHA, VA, USDA, and conventional loans

Income limits, purchase price limits, and credit score requirements apply. Contact the Indiana Housing & Community Development Authority directly for current program details.

Popular Cities for Homebuying in Indiana

🏠Indianapolis
🏠Fort Wayne
🏠Evansville
🏠South Bend
🏠Carmel

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Indiana Mortgage FAQs

What are current mortgage rates in Indiana?+
As of April 2026, average mortgage rates in Indiana are approximately 6.84% for a 30-year fixed, 6.14% for a 15-year fixed, and 6.44% for an FHA 30-year loan. Rates vary based on your credit score, down payment, loan amount, and lender. Use our mortgage calculator to estimate your specific payment.
How much house can I afford in Indiana?+
With the average home price of $240,000 in Indiana and a median household income of $61,944, affordability depends on your debt-to-income ratio, down payment, and current rates. A general rule is your monthly payment (including taxes and insurance) should not exceed 28-33% of gross income. At current rates, a $240,000 home with 20% down would cost approximately $1,493/month.
What is the property tax rate in Indiana?+
The effective property tax rate in Indiana averages 0.83%. On the average home price of $240,000, that's approximately $1,992 per year or $166/month. Property taxes are a significant part of your monthly housing cost and vary by county.
Are there first-time homebuyer programs in Indiana?+
Yes! Indiana offers the IHCDA First Place Program through the Indiana Housing & Community Development Authority. This program typically provides below-market interest rates, down payment assistance, and closing cost help for qualifying first-time buyers. Income limits and property value caps apply. Contact the Indiana Housing & Community Development Authority for current program details and eligibility.
Should I get a 15-year or 30-year mortgage in Indiana?+
A 15-year mortgage in Indiana currently offers rates around 6.14% vs 6.84% for 30-year, saving you significantly on interest. On a $192,000 loan, the 30-year payment is $1,257/month while a 15-year is $1,635/month. Choose 15-year if you can afford the higher payment; choose 30-year for more cash flow flexibility.
What credit score do I need to buy a home in Indiana?+
In Indiana, conventional loans typically require a 620+ credit score, FHA loans require 580+ (or 500+ with 10% down), and VA loans have no official minimum but lenders usually want 620+. Higher credit scores get better rates — a score of 760+ qualifies for the best rates in Indiana, potentially saving thousands over the life of the loan. The Indiana Housing & Community Development Authority programs may have specific credit requirements.

Indiana Mortgage Tools

🏠Mortgage Calculator🔄Refinance Calculator🏡HELOC Calculator📖Mortgage Guide

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