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Indiana Mortgage Rates

Updated: July 21, 2024

Compare today's rates for Mortgage Refinance in IN

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Mortgage rates for Indiana go down to 3.00%

Sunday, July 21, 2024

Mortgage rates for Indiana on Lender411 for 30-year fixed-rate mortgages are at 3.00%. That dropped from 3.00% to 3.00%. The 15-year fixed rates are now at 2.56%. The 5/1 ARM mortgage for Indiana is now at 4.56%.

If you are looking for up to the minute Indiana mortgage rates, you’ve come to the right place.  Finding the lowest rates is easy when you have access to our vast network of trusted mortgage professionals in Indiana. Talk to multiple mortgage lenders in IL to compare rate quotes and understand your options.

Indiana Mortgage Refinance

Why is it critical to find the lowest rate when refinancing?  Simply put, this is the entire goal of a refinance.  The lower your new rate, the more money you’ll save. While there are many ways to secure a refinance loan, the best option is the no cost refi, which allows you to switch to a new mortgage with a lower rate without paying the fees associated with closing a new loan.  This can literally save you thousands of dollars.

Home Loans in Indiana

The loan types available in Indiana are much like those available elsewhere.  One of the most widely available mortgage loan types is the 30 year fixed rate mortgage.  As the name implies, this loan comes with a fixed interest rate.  This is considered the most financially sound mortgage by many borrowers. Some opt for the 15-year fixed option.

The adjustable rate mortgage (ARM) is another common loan type.  You can also pursue a jumbo loan, interest-only loan, balloon mortgage, or other specialized loan type.  Whether or not one of these loans fits you will depend entirely on your needs and the requirements of your lender.  Government backed loans, such as the FHA loan and the VA loan, are available to those who qualify.

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About Indiana

Indiana is a great mid-western state, home to the famous Indianapolis 500 race and also known for its famous basketball teams.  The northern part of the state is within commuting distance of the great city of Chicago.

Southern Indiana is a mixture of farms and forests.  Indiana has hot, humid summers and cold winters.  There can occasionally be severe weather, such as thunderstorms and occasional blizzards.

Major Indiana cities include Indianapolis, Fort Wayne, Evansville, and South Bend. Indianapolis, the capital city, is referred to as the Amateur Sports Capital of the World.  If you are a sports fan, or you are just looking for a peaceful Midwestern town to call home, consider buying a home in Indiana.

To learn more about homeownership in Indiana or research IN home buying programs, visit the Indiana HUD portal.

If you want to keep reading about mortgages, click on any of the following links.

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