Indiana Mortgage and Refinance Rates
On Tuesday, November 28, 2023, the national average 30-year fixed mortgage APR is 7.82%. The national average 30-year fixed refinance APR is 7.84%, according to Bankrate's latest survey of the nation's largest mortgage lenders.
Bankrate has offers for Indiana mortgage and refinance loans from top partners that are well below the national average. Compare, apply, and start saving today.
On Tuesday, November 28, 2023, the national average 30-year fixed mortgage APR is 7.82%. The national average 30-year fixed refinance APR is 7.84%, according to Bankrate's latest survey of the nation's largest mortgage lenders.
Bankrate has offers for Indiana mortgage and refinance loans from top partners that are well below the national average. Compare, apply, and start saving today.
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Indiana Mortgage and Refinance Rates
Current mortgage rates in Indiana
Refinance rates in Indiana
How to find the best mortgage rate in Indiana for you
Lender compare
Compare mortgage lenders side by side
Mortgage rates and fees can vary widely across lenders. To help you find the right one for your needs, use this tool to compare lenders based on a variety of factors. Bankrate has reviewed and partners with these lenders, and the two lenders shown first have the highest combined Bankrate Score and customer ratings. You can use the drop downs to explore beyond these lenders and find the best option for you.

Garden State Home Loans
NMLS: 473163
|
State License: MB-473163
5.0
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Homefinity
NMLS: 2289
|
State License: 4965
5.0
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Mortgage options in Indiana
- Conventional loans
- FHA loans
- VA loans or USDA loans (only available to borrowers who have served in the military or buying in rural areas, respectively)
First-time homebuyer programs in Indiana
Qualifying individuals and families in Indiana may have access to a variety of national first-time homebuyer programs and educational opportunities to help them navigate the homebuying process — but there are also first-time homebuyer programs available specifically to residents of Indiana.
First Place (FP) Program
Administered by the Indiana Housing & Community Development Authority (IHCDA), the First Place (FP) program is aimed at first-time homebuyers, and also veterans and repeat buyers purchasing in a targeted area. The FP program helps buyers with up to 6 percent in down payment assistance through a 30-year, fixed-rate FHA loan. The down payment assistance is an interest-free second mortgage, with no monthly mortgage payments, and forgivable if the homeowner stays in the home for nine full years from the date of closing.
To be eligible, borrowers must have:
- A minimum credit score of 640 with a debt-to-income ratio (DTI) less than 45 percent; or
- A minimum credit score of 680 with a debt-to-income ratio (DTI) greater than 45 percent, but less than 50 percent
There are also household income and property value limits based on the property’s location.
Helping to Own (H2O) Program
The Helping to Own (H2O) first-time homebuyer program offers borrowers up to 3.5 percent in down payment and closing costs assistance. The assistance, offered by the IHCDA, is a grant and no repayment is required, though applicants must meet the same minimum credit scores as the First Place program, and must not exceed household income limits specified by the family’s geographic location.
In addition to first-time homebuyers, veterans and those purchasing a property in a targeted area are also eligible.
Mortgage credit certificate (MCC)
Indiana first-time homebuyers can also save through a mortgage credit certificate (MCC), administered locally by the IHCDA, which converts a portion of their mortgage interest paid into a federal tax credit. The MCC helps reduce the taxes borrowers would otherwise have to pay. The maximum tax credit each year is $2,000.
The MCC is available to low- to moderate-income first-time homebuyers who work with an approved mortgage lender. Minimum credit scores, household income limits and purchase price limits apply.