Indiana Mortgage Rates

September 1, 2015 12:07 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.

30 Year Fixed

Interest Rate
3.375%
APR
3.620%
Monthly Payment
$884
Aimloan.com
30 Year Fixed
Be the first to write a review.
NMLS: 2890
Interest Rate
3.375%
APR
3.620%
Monthly Payment
$884
(877) 711-0639 Contact
Aimloan.com
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 $884
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $884
Lender Fees $6,478
Lender Credit $62
Total Closing Fees* $6,416
*Other 3rd party fees may apply
Aimloan.com
Email Lender

About the Lender

Internet Direct Lender Since 1998* Over $16 Billion Funded *Fannie Mae and Freddie Mac Approved * View Rates & GFE Online 24/4, Apply & Lock Rate Online 24/7.

One of only 7 Certified UpFront Lenders!
Sebonic Financial
30 Year Fixed
Interest Rate
3.625%
APR
3.739%
Monthly Payment
$913
(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 $913
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $913
Lender Fees $2,776
Lender Credit $0
Total Closing Fees* $2,776
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

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
Email Lender Write a Review

Lender Reviews

Owner

Yes, I recommend this lender

Overall experience was one of complete pleasure. Any delay in the process was caused by me and at that, it was only a month.

By: Haydee (Marietta, GA)

purchase of 1st home

Yes, I recommend this lender

Sebonic was clearly the cheapest rate I found after speaking with multiple banks. My loan representative was clear and didn't have any charges or fees which made it very clear.

By: Michael (Baltimore, MD)

Amazing company to work with, I will miss them.

Yes, I recommend this lender

Every time I had a question they were able to answer me. They were extremely helpful during the entire process of buying a home. My husband and I are first-time homebuyers and I was very reluctant and nervous about the whole process. They made it easy. I am so grateful that I chose them to help us with this beautiful opportunity. I would recommend them to everyone.

By: Ronda (Wooster, OH)
See All Reviews

15 Year Fixed

Interest Rate
2.500%
APR
2.934%
Monthly Payment
$1,334
Aimloan.com
15 Year Fixed
Be the first to write a review.
NMLS: 2890
Interest Rate
2.500%
APR
2.934%
Monthly Payment
$1,334
(877) 711-0639 Contact
Aimloan.com
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 $1,334
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,334
Lender Fees $6,478
Lender Credit $134
Total Closing Fees* $6,344
*Other 3rd party fees may apply
Aimloan.com
Email Lender

About the Lender

Internet Direct Lender Since 1998* Over $16 Billion Funded *Fannie Mae and Freddie Mac Approved * View Rates & GFE Online 24/4, Apply & Lock Rate Online 24/7.

One of only 7 Certified UpFront Lenders!
Consumer Direct Mortgage, a division of FirstBank
15 Year Fixed
Interest Rate
2.750%
APR
2.913%
Monthly Payment
$1,358
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
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 $2,260
Lender Credit $0
Total Closing Fees* $2,260
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Highly recommend!

Yes, I recommend this lender

Incredibly attentive. An absolute joy to work with. Highly recommend!

By: hk4394 (Milton, FL)

Mikes Refinance

Yes, I recommend this lender

Had a great experience with Consumer Direct. It was a non painful refinance and a great rate. Pat and Jamie were a pleasure to work with and always responded to me in a timely manner, whether it be by email or phone. 2 thumbs up!!!!

By: Anonymous (Boynton Beach, FL)

Mikes Refinance

Yes, I recommend this lender

I had a great experience working with Consumer Direct. Very professional, caring and actually returned my calls right away when I had any questions or concerns about my loan. I would highly recommend this company. (and I got a great rate!!!!) Mike

By: Robinson (Boynton Beach, FL)
See All Reviews

5/1 ARM

Interest Rate
2.000%
APR
2.951%
Monthly Payment
$739
Aimloan.com
5/1 ARM
Be the first to write a review.
NMLS: 2890
Interest Rate
2.000%
APR
2.951%
Monthly Payment
$739
(877) 711-0639 Contact
Aimloan.com
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 $739
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $739
Lender Fees $6,478
Lender Credit $490
Total Closing Fees* $5,988
*Other 3rd party fees may apply
Aimloan.com
Email Lender

About the Lender

Internet Direct Lender Since 1998* Over $16 Billion Funded *Fannie Mae and Freddie Mac Approved * View Rates & GFE Online 24/4, Apply & Lock Rate Online 24/7.

One of only 7 Certified UpFront Lenders!
Sebonic Financial
5/1 ARM
Interest Rate
2.625%
APR
3.056%
Monthly Payment
$804
(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 $804
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $804
Lender Fees $2,528
Lender Credit $0
Total Closing Fees* $2,528
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

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
Email Lender Write a Review

Lender Reviews

Owner

Yes, I recommend this lender

Overall experience was one of complete pleasure. Any delay in the process was caused by me and at that, it was only a month.

By: Haydee (Marietta, GA)

purchase of 1st home

Yes, I recommend this lender

Sebonic was clearly the cheapest rate I found after speaking with multiple banks. My loan representative was clear and didn't have any charges or fees which made it very clear.

By: Michael (Baltimore, MD)

Amazing company to work with, I will miss them.

Yes, I recommend this lender

Every time I had a question they were able to answer me. They were extremely helpful during the entire process of buying a home. My husband and I are first-time homebuyers and I was very reluctant and nervous about the whole process. They made it easy. I am so grateful that I chose them to help us with this beautiful opportunity. I would recommend them to everyone.

By: Ronda (Wooster, OH)
See All Reviews
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.

 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.