Indiana Mortgage Rates Today — Compare IN Lenders
The average 30-year fixed mortgage rate in Indiana is currently 6.46% APR. Indiana is one of the most affordable states for homeownership in the US, with Indianapolis growing as a major Midwest hub. Compare today’s rates from top Indiana lenders across all major loan types below.
Indiana Mortgage Rate Comparison Table
Rates below assume a 740+ credit score, 20% down payment, and a $260,000 loan on a single-family primary residence in Indiana.
| Loan Type | Interest Rate | APR | Best For |
|---|---|---|---|
| 30-Year Fixed | 6.46% | 6.46% | Most Popular |
| 15-Year Fixed | 5.81% | 5.81% | Pay off faster, save interest |
| 5/1 ARM | 6.58% | 6.58% | Short-term owners |
| FHA 30-Year | 6.14% | 6.14% | Low down payment |
| VA 30-Year | 5.98% | 5.98% | Veterans & military |
| 30-Year Refinance | 6.58% | 6.58% | Existing homeowners |
Rates sourced from lender survey data and updated regularly. Actual rates vary by lender and borrower profile. See disclaimer.
Understanding Mortgage Rates in Indiana
Indiana consistently ranks among the most affordable housing markets in the US. Indianapolis has grown substantially as a Midwest hub for tech, healthcare, and logistics, but home prices remain well below comparable cities in other regions.
The state’s low property taxes and cost of living make monthly housing costs very manageable. Carmel and Fishers — Indianapolis suburbs — offer upscale suburban living at prices far below comparable areas in coastal cities.
What Affects Your Indiana Mortgage Rate?
Several key factors influence the rate a Indiana lender will offer you: your credit score (740+ gets the best rates), your down payment (20%+ eliminates PMI), your loan type (VA and FHA often beat conventional), and broader market conditions driven by the Federal Reserve and Treasury yields. Always compare at least 3–5 lenders — the spread between best and worst rate can be 0.5–1.0%.