Indianapolis FHA Loan Rates, Closing Costs & Stats

INDIANAPOLIS-CARMEL-ANDERSON, IN

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Indianapolis's 208 lenders originated 13,138 FHA loans during 2021. The total origination value was $2,498,950,000, with an average FHA loan value of $190,208.

    Indianapolis FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Indianapolis averaged 6.55% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

    Indianapolis's average FHA mortgage closing costs are $5,731.

    The average rate for the prior week (2022-11-25) was 6.27% and one month ago for the week of 2022-10-28, the average rate was 6.91%.

    The average rate one year ago was 3.54%.

    For refis of the same type during the week of 2022-12-02, the average rate was 6.43%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Indianapolis FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Indianapolis level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    QUICKEN LOANS, LLC 1,195 2.75% $5,644
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1,103 3.32% $6,416
    CALIBER HOME LOANS, INC. 1,073 2.99% $5,913
    FREEDOM MORTGAGE CORPORATION 706 2.87% $4,560
    RUOFF MORTGAGE COMPANY, INC. 525 3.27% $5,383
    GVC MORTGAGE, INC. 505 3.33% $6,703
    LAKEVIEW LOAN SERVICING, LLC 378 3.01% $4,456
    CROSSCOUNTRY MORTGAGE, LLC 241 3.34% $7,257
    Mr. Cooper ( Nationstar Mortgage ) 238 3.26% $3,869
    UNITED WHOLESALE MORTGAGE, LLC 211 2.75% $6,321
    VANDERBILT MORTGAGE AND FINANCE, INC. 176 3.17% $7,531
    PENNYMAC LOAN SERVICES, LLC 163 3.11% $4,406
    NEWREZ LLC 154 2.96% $4,752
    First Option Mortgage, LLC 151 3.19% $8,235
    LOANDEPOT.COM, LLC 141 3.36% $6,269
    The Huntington National Bank 133 3.10% $5,839
    HALLMARK HOME MORTGAGE, LLC 132 3.25% $7,078
    VILLAGE CAPITAL MORTGAGE 121 2.98% $2,204
    DHI MORTGAGE COMPANY, LTD. 116 2.85% $6,589
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 115 3.30% $6,925
    Carrington Mortgage Services, LLC 111 3.34% $6,464
    EAGLE HOME MORTGAGE, LLC 108 3.13% $9,077
    PRIMELENDING, A PLAINSCAPITAL COMPANY 108 3.46% $7,062
    MJW Financial LLC 97 3.07% $7,012
    The Federal Savings Bank 95 3.19% $6,617
    BROKER SOLUTIONS, INC. 93 3.20% $6,771
    HOMEBRIDGE FINANCIAL SERVICES, INC. 88 2.59% $4,805
    FINANCE OF AMERICA MORTGAGE LLC 85 3.38% $7,067
    JLB CORPORATION 82 2.80% $7,111
    HOME POINT FINANCIAL CORPORATION 82 2.76% $5,170
    AMERIFIRST FINANCIAL CORPORATION 82 3.41% $7,261
    EUSTIS AND AMERICAN MORTGAGE COMPANY 81 3.31% $6,486
    NVR Mortgage Finance, Inc. 74 3.14% $9,351
    Flagstar Bank, FSB 71 2.95% $5,681
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 71 3.35% $7,303
    M/I FINANCIAL, LLC 70 2.92% $8,824
    First Merchants Bank 68 3.13% $7,010
    PRIMARY RESIDENTIAL MORTGAGE, INC. 64 3.70% $6,765
    AMERICAN MORTGAGE SERVICE COMPANY 57 2.96% $6,742
    Nations Lending Corporation 57 3.34% $7,128
    AmeriHome Mortgage Company, LLC 55 2.86% $4,180
    TUCKER MORTGAGE, LLC 54 3.25% $6,447
    Union Savings Bank 52 2.89% $5,268
    Wolfe Financial, Inc 49 3.27% $6,687
    PULTE MORTGAGE LLC 49 3.06% $6,203
    PLAZA HOME MORTGAGE, INC. 48 3.01% $6,177
    AMERISAVE MORTGAGE CORPORATION 47 3.06% $8,346
    Gateway First Bank 47 3.51% $6,212
    VICTORY MORTGAGE, L.L.C. 46 2.70% $6,865
    OPEN MORTGAGE, LLC 46 3.17% $5,458
    MID AMERICA MORTGAGE, INC. 41 3.38% $3,301
    MILESTONE HOME LENDING, LLC 39 3.50% $6,566
    Regions Bank 38 2.90% $5,507
    First Guaranty Mortgage Corporation 37 2.93% $5,713
    The Home Loan Expert LLC 36 3.09% $7,073
    Fifth Third Bank 36 2.98% $5,020
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 36 3.13% $7,092
    Bank of England 33 3.56% $7,213
    OCEANSIDE MORTGAGE COMPANY 30 2.73% $2,795
    Northpointe Bank 29 3.19% $6,796
    LEADERONE FINANCIAL CORPORATION 28 3.40% $6,486
    AMERICAN FINANCIAL NETWORK, INC. 27 3.07% $9,962
    JPMorgan Chase Bank 27 3.01% $4,344
    UNION HOME MORTGAGE CORP. 27 3.11% $6,907
    Elements Financial Federal Credit Union 25 2.97% $6,325
    InterContinental Capital Group, Inc 25 2.81% $7,891
    ROYAL UNITED MORTGAGE LLC 24 2.90% $7,131
    Citizens Bank 24 3.00% $7,198
    GUARANTEED RATE, INC. 24 3.04% $6,637
    CELEBRITY HOME LOANS, LLC 24 3.15% $8,314
    GSF Mortgage Corporation 24 3.07% $8,303
    SOUTHWEST FUNDING, LP 23 3.67% $7,896
    PNC Bank 22 2.75% $4,902
    TOP FLITE FINANCIAL, INC. 22 3.46% $13,213
    SUN WEST MORTGAGE COMPANY, INC. 21 3.01% $5,694
    Paramount Residential Mortgage Group, Inc. 20 3.49% $6,880
    AMERICAN FINANCING CORPORATION 19 3.09% $6,444
    Centier Bank 18 3.35% $6,195
    Merchants Bank of Indiana 17 2.89% $5,199
    Mortgage Research Center, LLC 16 3.04% $5,140
    First Home Bank 16 3.13% $6,871
    KELLER MORTGAGE, LLC 16 2.85% $5,098
    SECURITYNATIONAL MORTGAGE COMPANY 15 3.17% $8,210
    Equity Prime Mortgage LLC 15 3.53% $5,561
    1ST SIGNATURE LENDING, LLC 15 3.08% $7,314
    OCMBC, INC. 15 3.33% $7,535
    INDIANA MEMBERS CREDIT UNION 14 2.87% $5,562
    FAIR WAY LENDING LLC 13 3.34% $6,772
    Blue Ridge Bank 13 2.87% $5,779
    ENDEAVOR CAPITAL, LLC. 13 3.13% $4,765
    FORUM Credit Union 12 2.82% $4,860
    RELIANCE FIRST CAPITAL, LLC 12 3.11% $7,840
    SUCCESS MORTGAGE PARTNERS, INC. 12 3.54% $7,841
    First Financial Bank 12 3.01% $5,543
    Sierra Pacific Mortgage Company, Inc. 11 2.80% $7,295
    KeyBank 11 2.95% $6,521
    MUTUAL OF OMAHA MORTGAGE, INC. 11 3.03% $6,667
    CIBM Bank 10 3.31% $6,480
    HOMESIDE FINANCIAL, LLC 10 3.17% $7,339
    FIRST CENTENNIAL MORTGAGE CORPORATION 10 3.40% $6,623
    UNITED SECURITY FINANCIAL CORP 10 2.69% $4,869
    Old National Bank 10 3.15% $5,895
    Ixonia Bank 10 3.50% $6,292
    PANORAMA MORTGAGE GROUP, LLC 10 3.41% $7,090
    PLANET HOME LENDING, LLC 9 2.69% $4,983
    GENEVA FINANCIAL, LLC 8 3.50% $8,010
    U.S. Bank 8 3.42% $4,863
    PACIFIC RESIDENTIAL MORTGAGE, LLC 8 3.58% $5,753
    PHH Mortgage Corporation 8 3.80% $4,925
    CHERRY CREEK MORTGAGE, LLC 8 3.80% $2,312
    EVERETT FINANCIAL, INC. 7 3.41% $5,055
    Horizon Bank 7 3.45% $4,613
    MOVEMENT MORTGAGE, LLC 7 2.91% $5,835
    Hometown Lenders, Inc. 7 3.27% $6,843
    First Savings Bank 6 3.25% $7,875
    Advisors Mortgage Group, L.L.C. 6 2.92% $6,241
    ARC HOME LLC 6 3.04% $7,208
    Bank of America 6 2.88% $2,796
    Barrington Bank & Trust Company, N.A. 6 3.07% $5,083
    BAYSHORE MORTGAGE FUNDING, LLC 6 3.52% $6,021
    BMO Harris Bank 6 3.29% $5,543
    LOANPAL, LLC 6 3.15% $8,385
    M&T Bank 6 3.42% $6,392
    SOVEREIGN LENDING GROUP INCORPORATED 6 3.15% $9,057
    ZILLOW HOME LOANS, LLC 5 2.90% $6,457
    LIBERTY HOME MORTGAGE CORPORATION 5 3.05% $7,766
    TEACHERS CREDIT UNION 5 2.85% $6,465
    CHURCHILL MORTGAGE CORPORATION 5 2.95% $6,394
    THRIVE MORTGAGE, LLC 5 3.30% $5,294
    MORTGAGE MASTERS OF INDIANA, INC. 5 2.95% $6,991
    INSPIRE HOME LOANS INC. 5 3.35% $6,433
    First Financial Bank 5 3.07% $6,761
    STOCKTON MORTGAGE CORPORATION 5 3.30% $8,667
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 3.19% $9,828
    NOVA FINANCIAL & INVESTMENT CORPORATION 4 2.88% $5,121
    Plains Commerce Bank 4 2.75% $7,064
    Colten Mortgage, LLC 4 3.66% $7,039
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 3.00% $7,581
    T2 FINANCIAL LLC 4 3.63% $7,125
    NATIONS DIRECT MORTGAGE, LLC 4 3.53% $8,660
    Residential Mortgage Solutions, Inc. 4 3.08% $7,285
    First Internet Bank of Indiana 3 2.66% $6,015
    EVANSVILLE TEACHERS 3 3.04% $6,626
    POLARIS HOME FUNDING CORP. 3 2.92% $9,055
    MICHIGAN MUTUAL, INC. 3 3.29% $8,006
    NATIONWIDE MORTGAGE BANKERS, INC. 3 3.21% $7,168
    Servion, Inc. 3 2.75% $7,941
    FLAT BRANCH MORTGAGE, INC. 3 3.33% $7,326
    COMPASS MORTGAGE, INC. 3 2.88% $7,484
    Austin Capital Bank SSB 3 3.42% $7,258
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 2.71% $9,818
    Magnolia Bank 3 3.04% $6,664
    AMCAP MORTGAGE, LTD. 2 4.00% $8,157
    Colonial Savings, F.A. 2 2.88% $4,444
    CMG MORTGAGE, INC. 2 4.13% $6,459
    NP, Inc. 2 3.31% $7,594
    STEARNS LENDING, LLC 2 3.13% $5,424
    Hometown Equity Mortgage, LLC 2 2.81% $8,290
    Loan Simple, Inc. 2 3.75% $9,781
    MORIA DEVELOPMENT, INC. 2 3.31% $6,159
    First Federal Bank 2 2.94% $9,024
    FIRST EQUITY MORTGAGE INCORPORATED 2 3.06% $8,088
    Peoples Bank 2 3.63% $7,747
    AMERICAN FINANCIAL RESOURCES, INC. 2 3.38% $9,959
    EQUITY RESOURCES, INC. 2 3.19% $6,539
    Willamette Valley Bank 2 2.63% $6,466
    ENVOY MORTGAGE, LTD 2 2.88% $8,434
    EMBRACE HOME LOANS, INC. 2 3.06% $8,930
    DRAPER AND KRAMER MORTGAGE CORP. 2 2.88% $6,412
    LAND HOME FINANCIAL SERVICES, INC. 2 3.25% $9,707
    MEMBER FIRST MORTGAGE, LLC 2 2.88% $5,139
    SOUTHWEST STAGE FUNDING, LLC 1 2.75% $4,408
    MLD MORTGAGE INC. 1 2.75% $11,592
    MORTGAGE ACCESS CORP. 1 3.75% $8,788
    ALAMEDA MORTGAGE CORPORATION 1 3.13% $9,983
    LENOX FINANCIAL MORTGAGE CORPORATION 1 2.88% $7,789
    NORTHERN MORTGAGE SERVICES, LLC 1 3.13% $5,536
    Northwest Bank 1 3.00% $4,297
    INOVA FEDERAL CREDIT UNION 1 2.88% $4,860
    GUILD MORTGAGE COMPANY 1 3.00% $6,346
    Florida Capital Bank 1 2.63% $9,986
    FIRST COMMUNITY MORTGAGE, INC. 1 3.63% $6,842
    FBC MORTGAGE, LLC 1 2.38% $6,432
    PLUS RELOCATION MORTGAGE, LLC 1 3.25% $6,364
    EMM LOANS LLC 1 4.25% $9,575
    RAPID MORTGAGE COMPANY 1 3.38% $7,310
    DIRECT MORTGAGE LOANS, LLC 1 3.63% $8,683
    DEVELOPER'S MORTGAGE COMPANY 1 2.50% $5,396
    RESIDENTIAL MORTGAGE SERVICES, INC. 1 3.13% $5,895
    DAS Acquisition Company, LLC 1 2.75% $14,118
    Mercantile Bank of Michigan 1 2.63% $6,267
    CLEARPATH LENDING 1 2.75% $4,666
    CIBC Bank USA 1 3.38% $5,477
    Chickasaw Community Bank 1 2.88% $6,723
    CapStar Bank 1 2.38% $7,371
    The State Bank and Trust Company 1 2.75% $6,024
    BETTER MORTGAGE CORPORATION 1 2.38% $5,771
    TOWNE MORTGAGE COMPANY 1 3.25% $5,577
    Atlantic Union Bank 1 3.25% $6,355
    United Fidelity Funding Corp. 1 3.13% $7,431
    AmRes Corporation 1 3.25% $5,372
    US MORTGAGE CORPORATION 1 3.38% $5,851
    VERITAS FUNDING, LLC 1 2.75% $5,702
    ALLIED MORTGAGE GROUP, INC. 1 3.25% $3,385
    Allied First Bank,sb 1 3.50% $4,566
    V.I.P. MORTGAGE, INC. 1 3.25% $6,067
    Waterstone Mortgage Corporation 1 3.50% $5,415
    MIDLAND MORTGAGE CORPORATION 1 3.75% $6,207

    The top Indianapolis FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 1,195 FHA loans originated. Their average total fees are $5,644, which is $772 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Indianapolis FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($2,204), OCEANSIDE MORTGAGE COMPANY ($2,795), MID AMERICA MORTGAGE, INC. ($3,301), Mr. Cooper ( Nationstar Mortgage ) ($3,869) and AmeriHome Mortgage Company, LLC ($4,180).

    The lowest rate Indianapolis FHA lenders (with over 10 loans originated) are HOMEBRIDGE FINANCIAL SERVICES, INC. (2.59%), UNITED SECURITY FINANCIAL CORP (2.69%), VICTORY MORTGAGE, L.L.C. (2.70%), OCEANSIDE MORTGAGE COMPANY (2.73%) and PNC Bank (2.75%).

    Indianapolis FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    INDIANAPOLIS-CARMEL-ANDERSON, IN BOONE 2022 $420,680 $538,650 $651,050 $809,150
    INDIANAPOLIS-CARMEL-ANDERSON, IN BROWN 2022 $420,680 $538,650 $651,050 $809,150
    INDIANAPOLIS-CARMEL-ANDERSON, IN HAMILTON 2022 $420,680 $538,650 $651,050 $809,150
    INDIANAPOLIS-CARMEL-ANDERSON, IN HANCOCK 2022 $420,680 $538,650 $651,050 $809,150
    INDIANAPOLIS-CARMEL-ANDERSON, IN HENDRICKS 2022 $420,680 $538,650 $651,050 $809,150
    INDIANAPOLIS-CARMEL-ANDERSON, IN JOHNSON 2022 $420,680 $538,650 $651,050 $809,150
    INDIANAPOLIS-CARMEL-ANDERSON, IN MADISON 2022 $420,680 $538,650 $651,050 $809,150
    INDIANAPOLIS-CARMEL-ANDERSON, IN MARION 2022 $420,680 $538,650 $651,050 $809,150
    INDIANAPOLIS-CARMEL-ANDERSON, IN MORGAN 2022 $420,680 $538,650 $651,050 $809,150
    INDIANAPOLIS-CARMEL-ANDERSON, IN PUTNAM 2022 $420,680 $538,650 $651,050 $809,150
    INDIANAPOLIS-CARMEL-ANDERSON, IN SHELBY 2022 $420,680 $538,650 $651,050 $809,150

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Indianapolis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $229,950 (28.8%) $308,557 (16.1%) 0.85 4,676
    2018-02-01 $247,450 (35.7%) $320,125 (15.7%) 0.90 4,220
    2018-03-01 $259,900 (26.3%) $334,451 (13.4%) 0.91 4,142
    2018-04-01 $278,445 (26.6%) $353,465 (16.5%) 0.94 4,343
    2018-05-01 $284,950 (24.7%) $360,511 (15.4%) 0.95 4,762
    2018-06-01 $279,900 (19.2%) $354,138 (11.1%) 0.93 5,324
    2018-07-01 $272,400 (18.4%) $344,321 (9.0%) 0.91 5,892
    2018-08-01 $261,912 (14.2%) $334,724 (7.3%) 0.88 6,155
    2018-09-01 $254,900 (12.3%) $329,052 (6.3%) 0.86 6,417
    2018-10-01 $243,825 (8.4%) $317,479 (4.0%) 0.82 6,687
    2018-11-01 $239,900 (6.6%) $317,522 (3.9%) 0.81 6,403
    2018-12-01 $239,700 (7.1%) $313,705 (3.8%) 0.83 5,731
    2019-01-01 $242,400 (5.4%) $316,233 (2.5%) 0.84 5,184
    2019-02-01 $256,945 (3.8%) $331,643 (3.6%) 0.87 4,840
    2019-03-01 $267,923 (3.1%) $347,286 (3.8%) 0.88 4,754
    2019-04-01 $277,450 (-0.4%) $356,370 (0.8%) 0.88 4,592
    2019-05-01 $281,475 (-1.2%) $359,711 (-0.2%) 0.88 4,972
    2019-06-01 $279,900 (0.0%) $354,332 (0.1%) 0.87 5,373
    2019-07-01 $279,900 (2.8%) $364,928 (6.0%) 0.88 5,767
    2019-08-01 $270,909 (3.4%) $351,140 (4.9%) 0.86 6,056
    2019-09-01 $264,773 (3.9%) $340,387 (3.5%) 0.85 6,240
    2019-10-01 $260,682 (6.9%) $333,219 (5.0%) 0.84 6,386
    2019-11-01 $259,900 (8.3%) $328,325 (3.4%) 0.85 6,003
    2019-12-01 $255,450 (6.6%) $326,301 (4.0%) 0.85 5,225
    2020-01-01 $264,450 (9.1%) $347,679 (9.9%) 0.88 4,684
    2020-02-01 $269,900 (5.0%) $338,978 (2.2%) 0.88 4,100
    2020-03-01 $279,019 (4.1%) $345,181 (-0.6%) 0.87 3,874
    2020-04-01 $282,670 (1.9%) $342,108 (-4.0%) 0.88 4,080
    2020-05-01 $296,172 (5.2%) $360,980 (0.4%) 0.90 3,852
    2020-06-01 $299,900 (7.2%) $373,322 (5.4%) 0.88 3,524
    2020-07-01 $299,995 (7.2%) $379,220 (3.9%) 0.87 3,378
    2020-08-01 $299,000 (10.4%) $373,441 (6.4%) 0.86 3,224
    2020-09-01 $285,000 (7.6%) $366,194 (7.6%) 0.82 3,249
    2020-10-01 $273,237 (4.8%) $351,932 (5.6%) 0.78 3,363
    2020-11-01 $265,000 (2.0%) $341,476 (4.0%) 0.77 3,277
    2020-12-01 $259,500 (1.6%) $328,473 (0.7%) 0.77 2,812
    2021-01-01 $255,000 (-3.6%) $328,807 (-5.4%) 0.76 2,313
    2021-02-01 $264,495 (-2.0%) $343,000 (1.2%) 0.77 1,792
    2021-03-01 $269,500 (-3.4%) $353,252 (2.3%) 0.76 1,728
    2021-04-01 $273,875 (-3.1%) $363,885 (6.4%) 0.74 1,711
    2021-05-01 $275,000 (-7.2%) $368,207 (2.0%) 0.73 1,790
    2021-06-01 $275,000 (-8.3%) $372,352 (-0.3%) 0.72 2,035
    2021-07-01 $279,900 (-6.7%) $369,469 (-2.6%) 0.74 2,333
    2021-08-01 $279,000 (-6.7%) $371,964 (-0.4%) 0.74 2,468
    2021-09-01 $280,000 (-1.8%) $373,817 (2.1%) 0.75 2,514
    2021-10-01 $275,000 (0.7%) $364,574 (3.6%) 0.73 2,529
    2021-11-01 $269,075 (1.5%) $357,306 (4.6%) 0.72 2,335
    2021-12-01 $274,950 (6.0%) $363,598 (10.7%) 0.75 1,983
    2022-01-01 $275,000 (7.8%) $366,800 (11.6%) 0.74 1,651
    2022-02-01 $289,425 (9.4%) $378,946 (10.5%) 0.75 1,402
    2022-03-01 $297,000 (10.2%) $393,671 (11.4%) 0.74 1,396
    2022-04-01 $299,900 (9.5%) $398,304 (9.5%) 0.72 1,468
    2022-05-01 $314,950 (14.5%) $400,935 (8.9%) 0.72 1,996
    2022-06-01 $319,450 (16.2%) $406,081 (9.1%) 0.71 2,468
    2022-07-01 $324,900 (16.1%) $403,898 (9.3%) 0.74 3,194
    2022-08-01 $309,750 (11.0%) $386,444 (3.9%) 0.72 3,427
    2022-09-01 $299,996 (7.1%) $380,825 (1.9%) 0.70 3,621
    2022-10-01 $299,900 (9.1%) $381,085 (4.5%) 0.71 3,831
    2022-11-01 $295,000 (9.6%) $376,606 (5.4%) 0.71 3,886
    Indianapolis's median listing price for 2022-11-01 was $295,000, a difference of $25,925 (9.6%) versus the prior year and $-4,900 versus the prior month.

    Indianapolis's median listing price comes in at 71% of the national average.

    Indianapolis's average listing price for 2022-11-01 was $376,606, a difference of $19,300 (5.4%) versus the prior year and $-4,479 versus the prior month.

    For the 2022-11-01 period, Indianapolis had 3,886 MLS listings, a difference of 55 listings (1%) versus the prior month and 1,551 listings (66%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Indianapolis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 81 days 2,399 sqft
    2018-02-01 75 days 2,437 sqft
    2018-03-01 54 days 2,520 sqft
    2018-04-01 46 days 2,604 sqft
    2018-05-01 39 days 2,658 sqft
    2018-06-01 40 days 2,636 sqft
    2018-07-01 45 days 2,573 sqft
    2018-08-01 48 days 2,521 sqft
    2018-09-01 51 days 2,457 sqft
    2018-10-01 54 days 2,404 sqft
    2018-11-01 59 days 2,365 sqft
    2018-12-01 72 days 2,336 sqft
    2019-01-01 80 days 2,327 sqft
    2019-02-01 82 days 2,395 sqft
    2019-03-01 68 days 2,450 sqft
    2019-04-01 51 days 2,493 sqft
    2019-05-01 45 days 2,536 sqft
    2019-06-01 46 days 2,537 sqft
    2019-07-01 50 days 2,526 sqft
    2019-08-01 51 days 2,461 sqft
    2019-09-01 53 days 2,429 sqft
    2019-10-01 56 days 2,408 sqft
    2019-11-01 62 days 2,374 sqft
    2019-12-01 73 days 2,336 sqft
    2020-01-01 85 days 2,328 sqft
    2020-02-01 86 days 2,318 sqft
    2020-03-01 54 days 2,344 sqft
    2020-04-01 51 days 2,362 sqft
    2020-05-01 57 days 2,397 sqft
    2020-06-01 51 days 2,405 sqft
    2020-07-01 47 days 2,416 sqft
    2020-08-01 47 days 2,385 sqft
    2020-09-01 45 days 2,286 sqft
    2020-10-01 44 days 2,238 sqft
    2020-11-01 50 days 2,152 sqft
    2020-12-01 57 days 2,083 sqft
    2021-01-01 63 days 2,045 sqft
    2021-02-01 61 days 2,032 sqft
    2021-03-01 43 days 2,063 sqft
    2021-04-01 38 days 2,058 sqft
    2021-05-01 36 days 2,057 sqft
    2021-06-01 33 days 2,069 sqft
    2021-07-01 34 days 2,116 sqft
    2021-08-01 35 days 2,108 sqft
    2021-09-01 37 days 2,091 sqft
    2021-10-01 38 days 2,100 sqft
    2021-11-01 42 days 2,072 sqft
    2021-12-01 46 days 2,054 sqft
    2022-01-01 51 days 2,016 sqft
    2022-02-01 39 days 1,999 sqft
    2022-03-01 34 days 2,043 sqft
    2022-04-01 30 days 2,061 sqft
    2022-05-01 27 days 2,109 sqft
    2022-06-01 28 days 2,165 sqft
    2022-07-01 31 days 2,173 sqft
    2022-08-01 37 days 2,122 sqft
    2022-09-01 40 days 2,092 sqft
    2022-10-01 42 days 2,086 sqft
    2022-11-01 46 days 2,085 sqft
    Indianapolis's median listing age (time on market) for 2022-11-01 was 46 days. This is 11% longer than the same period one year ago.

    Indianapolis's median square footage for active listings during the 2022-11-01 period was 2,085 sqft. One year prior, the average listing was 2,072 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).