Best Indiana Mortgage Lenders of 2023 News2america

The average mortgage rate in Indiana is currently 5.79% for the 30-year fixed loan term.

Here are the interest rates offered to Indiana residents looking to buy or refinance a home as of 04/04/2023:

  • 30-year fixed purchase: 5.79%
  • 30-year fixed refi: 6.09%
  • 15-year fixed purchase: 4.08%

Powered by Bankrate

Mortgage rates increased this week for the first time in over a month. The average 30-year fixed rate crept higher to 6.92%, erasing the downward progress made last week. Most fixed and adjustable mortgage rates are slightly higher than they were a week ago.


Mortgage interest rates are twice as high as they were at the beginning of 2022, which continues to have a tangible effect on mortgage affordability and housing sentiment. Mortgage rates are widely expected to fall through 2023 but have stayed volatile ahead of the spring homebuying season. Here are the current mortgage rates, without discount points unless otherwise noted, as of April 13:

  • 30-year fixed: 6.92% (up from 6.83% a week ago).
  • 20-year fixed: 6.8% (up from 6.71% a week ago).
  • 15-year fixed: 6.14% (up from 6.1% a week ago).
  • 10-year fixed: 6.28% (up from 6.26% a week ago).
  • 5/1 ARM: 5.66% (equivalent to 5.66% a week ago).
  • 7/1 ARM: 6.2% (up from 5.85% a week ago).
  • 10/1 ARM: 6.07% (down from 6.09% a week ago).
  • 30-year jumbo loans: 7% (up from 6.89% a week ago).
  • 30-year FHA loans: 6% with 0.06 point (up from 5.81% a week ago).
  • VA purchase loans: 6.16% with 0.05 point (up from 5.96% a week ago).


Indiana homebuyers can get mortgage interest tax credits and help with down payments and closing costs from these programs.

  • Income limits: Vary by county.
  • First-time homebuyers only?: No, unless the buyer is utilizing the Next Home FHA loan in conjunction with the Mortgage Credit Certificate as a combination program.
  • Loan options: FHA 30-year fixed mortgage.
  • Down payment and closing cost assistance: Down payment assistance of 3.5% of the purchase price.

  • Benefit: A federal income tax credit that can assist homebuyers in reducing their federal income tax liability and increasing their qualifying income.
  • Income limits: Vary by county.
  • First-time homebuyers only?: Yes, unless you are a qualified veteran or the property is located in a qualified census track or targeted area.

U.S. News selects the Best Loan Companies by evaluating affordability, borrower eligibility criteria and customer service. Those with the highest overall scores are considered the best lenders.

To calculate each score, we use data about the lender and its loan offerings, giving greater weight to factors that matter most to borrowers. For mortgage lenders, we take into account each company’s customer service ratings, interest rates, loan product availability, minimum down payment, minimum FICO score and online features.

The weight each scoring factor receives is based on a nationwide survey on what borrowers look for in a lender.

To receive a rating, lenders must offer qualifying loans nationwide and have a good reputation within the industry. Read more about our methodology.

To recap, here are the picks:

Best Indiana Mortgage Lenders of 2023

Source link

news2america

Learn More →

Leave a Reply

Your email address will not be published. Required fields are marked *