Indiana Mortgage Rates

May 26, 2016 10:18 PM Eastern

Refinance rates now in INDIANAPOLIS, IN [Change this]

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Home Price (Purchase)
When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
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Home Value (Refinance)
This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
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Down Payment
The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
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Credit Score
Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.

15 Year Fixed

Interest Rate
2.750%
APR
2.964%
Monthly Payment
$1,358
Capital One
15 Year Fixed
Interest Rate
2.750%
APR
2.964%
Monthly Payment
$1,358
(844) 326-5399 Contact
Capital One
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Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 60 Days
Down Payment $50,000
Principal and Interest Payments $1,358
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,358
Lender Fees $2,975
Lender Credit $0
Total Closing Fees* $2,975
*Other 3rd party fees may apply
Capital One
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About the Lender

You can expect better with Capital One. Whether you need help with refinancing, a new home purchase, debt consolidation, or financing home improvements, your idea of better likely starts with savings - we maximize your savings with competitive rates and lower than average closing costs. But savings is only the start. We also strive to provide a better loan process - one that’s totally clear right from the start, with no hidden fees or unexpected surprises along the way. You can expect better service too - you’ll have a responsive team of dedicated mortgage specialists assigned and available to you every day, each member trained to anticipate and able to take care of all your needs.
Capital One
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Lender Reviews

Eugena Carpio review

Yes, I recommend this lender

They were bery good as aloan company keep lower rates and I was very satisfied

By: EugeneCarpio (Las Vegas, NV)

Review

Yes, I recommend this lender

Experienced and knowledgeable staff.

By: Cathleen (Santa Fe, NM)

Frustrating Loan Hub Experience

I tried using this lender in late 2015. It was a terrible experience. We struggled through this from August to October. I was told that the paperwork process would be easy as Capital One Home Loans uses online technology (Loan Hub) to communicate with the customer. I was told I could upload all of our required documents via a secure site. We tried on three different occasions to upload our documents, but only some of them appeared on the website. We were told that some documents were missing, even after we received confirmation that the documents were received. The online process was not being updated by the company, so we did not know at times where we were in the refi process. The initial customer rep took my preliminary info and then I was sent to another rep who rarely answered my emails or answered with no suggestions to help us. When I told him that the site would not let us upload documents or failed to show that our documents were uploaded, he told me to contact customer service. When I called the number he provided, the customer rep did not know what I was talking about and said he was not familiar with the new Capital One Home Loans website. I truly never had a more frustrating experience and I do not like to write negative reviews, but I must state my frustration with this company. We were made to feel as though once they had our business (we were submitting all required documents) that we were nothing to them. Because this company seemed to lack customer service and someone who could take the time to explain why the electronic document process was so tedious, I had to withdrawal my request for a refi.

By: Dave (Philadelphia, PA)
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Sebonic Financial
15 Year Fixed
Interest Rate
2.750%
APR
2.995%
Monthly Payment
$1,358
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,358
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,358
Lender Fees $3,389
Lender Credit $0
Total Closing Fees* $3,389
*Other 3rd party fees may apply
Sebonic Financial
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About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
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Lender Reviews

I recommend Renato Paz

Yes, I recommend this lender

excellent

By: albertina (Leesburg, VA)

My experience with Sebonic Financial

Yes, I recommend this lender

Although it took a while to get the loan approved, Sebonic Financial did a great job in helping to secure my loan.

By: George (Fernandina Beach, FL)

Very Impressed

Yes, I recommend this lender

Requesting a loan with Sebonic was a very satisfying experience. I was contacted promptly and professionally, and the loan originator, Scott Galbraith, was very professional and friendly. Although I decided to not complete the loan, Sebonic did offer the best rates I saw out there, and provided a very professional service. I would recommend Sebonic for anyone seeking a mortgage.

By: Daniel (Boca Raton, FL)
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Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

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Find great deals from Indiana mortgage lenders on this page. The Indiana Department of Financial Institutions is responsible for regulating lenders within the state.

Indiana Mortgage Rates

Mortgage rates can differ between states because of local economies, lending laws and competition between lenders.

 Buying a Home in Indiana

Real estate prices in Indiana have appreciated more slowly over the last 30 years than in other parts of the country—only 140% overall--but they also did not take as big a plunge during the recession as they did in some states.

Despite some ups and downs since 2008, Indiana home prices have dropped only 5% from their all time high, and are forecast to continue inching up at a rate similar to the rest of the nation. Homes in Indiana are very affordable. Depending on the county, 80 to 96 percent of Indiana homes are affordable to households earning the median income.

Indiana offers home buyers a number of state-, regional- and community-based programs that can help them find ways to make homeownership a reality. The following is a partial list:

 FHA Mortgages

FHA loans in Indiana are capped at $271,050 in most counties in Indiana, but in some of the metropolitan areas limits are higher. In Jasper County, the maximum loan size is $410,000, and in Dearborn County and Clark County, $337,500 and $302,500, respectively. For more information compare multiple FHA loan offers from FHA approved lenders.

 VA Home Loans

If you are eligible for VA financing, lenders may be able to offer you a VA mortgage four times the VA guaranty, up to 100% of the cost of the house. The cap on VA loans throughout the state is $417,000.