Indianapolis FHA Loans
INDIANAPOLIS-CARMEL-ANDERSON, IN
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
5.25%
for the week of 2022-05-13, compared to the national average (all FHA variants) of
5.361% for the same period.
The average rate for the prior week (2022-05-06) was
5.58% and
one month ago for the week of 2022-04-08, the
average rate was 5.15%.
The average rate one year ago was 2.95%.
For refis of the same type during the week of 2022-05-13, the average rate
was 4.92%.
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 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. Total Fees |
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 & INVESTMENT LLC
|
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
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
108
|
3.46%
|
$7,062
|
EAGLE HOME MORTGAGE, LLC
|
108
|
3.13%
|
$9,077
|
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
|
AMERIFIRST FINANCIAL CORPORATION
|
82
|
3.41%
|
$7,261
|
JLB CORPORATION
|
82
|
2.80%
|
$7,111
|
HOME POINT FINANCIAL CORPORATION
|
82
|
2.76%
|
$5,170
|
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
|
Nations Lending Corporation
|
57
|
3.34%
|
$7,128
|
AMERICAN MORTGAGE SERVICE COMPANY
|
57
|
2.96%
|
$6,742
|
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
|
Gateway First Bank
|
47
|
3.51%
|
$6,212
|
AMERISAVE MORTGAGE CORPORATION
|
47
|
3.06%
|
$8,346
|
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
|
Fifth Third Bank
|
36
|
2.98%
|
$5,020
|
HIGHLANDS RESIDENTIAL MORTGAGE, LTD.
|
36
|
3.13%
|
$7,092
|
The Home Loan Expert LLC
|
36
|
3.09%
|
$7,073
|
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
|
JPMorgan Chase Bank
|
27
|
3.01%
|
$4,344
|
AMERICAN FINANCIAL NETWORK, INC.
|
27
|
3.07%
|
$9,962
|
UNION HOME MORTGAGE CORP.
|
27
|
3.11%
|
$6,907
|
InterContinental Capital Group, Inc
|
25
|
2.81%
|
$7,891
|
Elements Financial Federal Credit Union
|
25
|
2.97%
|
$6,325
|
GSF Mortgage Corporation
|
24
|
3.07%
|
$8,303
|
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
|
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
|
KELLER MORTGAGE, LLC
|
16
|
2.85%
|
$5,098
|
First Home Bank
|
16
|
3.13%
|
$6,871
|
Mortgage Research Center, LLC
|
16
|
3.04%
|
$5,140
|
1ST SIGNATURE LENDING, LLC
|
15
|
3.08%
|
$7,314
|
Equity Prime Mortgage LLC
|
15
|
3.53%
|
$5,561
|
OCMBC, INC.
|
15
|
3.33%
|
$7,535
|
SECURITYNATIONAL MORTGAGE COMPANY
|
15
|
3.17%
|
$8,210
|
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
|
First Financial Bank
|
12
|
3.01%
|
$5,543
|
SUCCESS MORTGAGE PARTNERS, INC.
|
12
|
3.54%
|
$7,841
|
RELIANCE FIRST CAPITAL, LLC
|
12
|
3.11%
|
$7,840
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
11
|
3.03%
|
$6,667
|
Sierra Pacific Mortgage Company, Inc.
|
11
|
2.80%
|
$7,295
|
KeyBank
|
11
|
2.95%
|
$6,521
|
Old National Bank
|
10
|
3.15%
|
$5,895
|
Ixonia Bank
|
10
|
3.50%
|
$6,292
|
FIRST CENTENNIAL MORTGAGE CORPORATION
|
10
|
3.40%
|
$6,623
|
CIBM Bank
|
10
|
3.31%
|
$6,480
|
PANORAMA MORTGAGE GROUP, LLC
|
10
|
3.41%
|
$7,090
|
UNITED SECURITY FINANCIAL CORP
|
10
|
2.69%
|
$4,869
|
HOMESIDE FINANCIAL, LLC
|
10
|
3.17%
|
$7,339
|
PLANET HOME LENDING, LLC
|
9
|
2.69%
|
$4,983
|
GENEVA FINANCIAL, LLC
|
8
|
3.50%
|
$8,010
|
CHERRY CREEK MORTGAGE, LLC
|
8
|
3.80%
|
$2,312
|
PACIFIC RESIDENTIAL MORTGAGE, LLC
|
8
|
3.58%
|
$5,753
|
U.S. Bank
|
8
|
3.42%
|
$4,863
|
PHH Mortgage Corporation
|
8
|
3.80%
|
$4,925
|
Horizon Bank
|
7
|
3.45%
|
$4,613
|
Hometown Lenders, Inc.
|
7
|
3.27%
|
$6,843
|
MOVEMENT MORTGAGE, LLC
|
7
|
2.91%
|
$5,835
|
EVERETT FINANCIAL, INC.
|
7
|
3.41%
|
$5,055
|
SOVEREIGN LENDING GROUP INCORPORATED
|
6
|
3.15%
|
$9,057
|
First Savings Bank
|
6
|
3.25%
|
$7,875
|
LOANPAL, LLC
|
6
|
3.15%
|
$8,385
|
Manufacturers and Traders Trust Company
|
6
|
3.42%
|
$6,392
|
Advisors Mortgage Group, L.L.C.
|
6
|
2.92%
|
$6,241
|
BMO Harris Bank
|
6
|
3.29%
|
$5,543
|
BAYSHORE MORTGAGE FUNDING, LLC
|
6
|
3.52%
|
$6,021
|
Barrington Bank & Trust Company, N.A.
|
6
|
3.07%
|
$5,083
|
Bank of America
|
6
|
2.88%
|
$2,796
|
ARC HOME LLC
|
6
|
3.04%
|
$7,208
|
STOCKTON MORTGAGE CORPORATION
|
5
|
3.30%
|
$8,667
|
ZILLOW HOME LOANS, LLC
|
5
|
2.90%
|
$6,457
|
INSPIRE HOME LOANS INC.
|
5
|
3.35%
|
$6,433
|
CHURCHILL MORTGAGE CORPORATION
|
5
|
2.95%
|
$6,394
|
First Financial Bank
|
5
|
3.07%
|
$6,761
|
THRIVE MORTGAGE, LLC
|
5
|
3.30%
|
$5,294
|
MORTGAGE MASTERS OF INDIANA, INC.
|
5
|
2.95%
|
$6,991
|
TEACHERS CREDIT UNION
|
5
|
2.85%
|
$6,465
|
LIBERTY HOME MORTGAGE CORPORATION
|
5
|
3.05%
|
$7,766
|
NATIONS DIRECT MORTGAGE, LLC
|
4
|
3.53%
|
$8,660
|
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
|
Residential Mortgage Solutions, Inc.
|
4
|
3.08%
|
$7,285
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
4
|
3.19%
|
$9,828
|
T2 FINANCIAL LLC
|
4
|
3.63%
|
$7,125
|
AMERICAN PACIFIC MORTGAGE CORPORATION
|
4
|
3.00%
|
$7,581
|
Magnolia Bank
|
3
|
3.04%
|
$6,664
|
Servion, Inc.
|
3
|
2.75%
|
$7,941
|
EVANSVILLE TEACHERS
|
3
|
3.04%
|
$6,626
|
POLARIS HOME FUNDING CORP.
|
3
|
2.92%
|
$9,055
|
FLAT BRANCH MORTGAGE, INC.
|
3
|
3.33%
|
$7,326
|
NATIONWIDE MORTGAGE BANKERS, INC.
|
3
|
3.21%
|
$7,168
|
MICHIGAN MUTUAL, INC.
|
3
|
3.29%
|
$8,006
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
3
|
2.71%
|
$9,818
|
COMPASS MORTGAGE, INC.
|
3
|
2.88%
|
$7,484
|
Austin Capital Bank SSB
|
3
|
3.42%
|
$7,258
|
First Internet Bank of Indiana
|
3
|
2.66%
|
$6,015
|
Loan Simple, Inc.
|
2
|
3.75%
|
$9,781
|
EMBRACE HOME LOANS, INC.
|
2
|
3.06%
|
$8,930
|
MORIA DEVELOPMENT, INC.
|
2
|
3.31%
|
$6,159
|
DRAPER AND KRAMER MORTGAGE CORP.
|
2
|
2.88%
|
$6,412
|
NP, Inc.
|
2
|
3.31%
|
$7,594
|
Colonial Savings, F.A.
|
2
|
2.88%
|
$4,444
|
CMG MORTGAGE, INC.
|
2
|
4.13%
|
$6,459
|
LAND HOME FINANCIAL SERVICES, INC.
|
2
|
3.25%
|
$9,707
|
Peoples Bank
|
2
|
3.63%
|
$7,747
|
FIRST EQUITY MORTGAGE INCORPORATED
|
2
|
3.06%
|
$8,088
|
Hometown Equity Mortgage, LLC
|
2
|
2.81%
|
$8,290
|
Willamette Valley Bank
|
2
|
2.63%
|
$6,466
|
STEARNS LENDING, LLC
|
2
|
3.13%
|
$5,424
|
First Federal Bank
|
2
|
2.94%
|
$9,024
|
AMERICAN FINANCIAL RESOURCES, INC.
|
2
|
3.38%
|
$9,959
|
AMCAP MORTGAGE, LTD.
|
2
|
4.00%
|
$8,157
|
EQUITY RESOURCES, INC.
|
2
|
3.19%
|
$6,539
|
ENVOY MORTGAGE, LTD
|
2
|
2.88%
|
$8,434
|
MEMBER FIRST MORTGAGE, LLC
|
2
|
2.88%
|
$5,139
|
Waterstone Mortgage Corporation
|
1
|
3.50%
|
$5,415
|
FIRST COMMUNITY MORTGAGE, INC.
|
1
|
3.63%
|
$6,842
|
FBC MORTGAGE, LLC
|
1
|
2.38%
|
$6,432
|
ALLIED MORTGAGE GROUP, INC.
|
1
|
3.25%
|
$3,385
|
VERITAS FUNDING, LLC
|
1
|
2.75%
|
$5,702
|
SOUTHWEST STAGE FUNDING, LLC
|
1
|
2.75%
|
$4,408
|
Florida Capital Bank
|
1
|
2.63%
|
$9,986
|
Allied First Bank,sb
|
1
|
3.50%
|
$4,566
|
CLEARPATH LENDING
|
1
|
2.75%
|
$4,666
|
Mercantile Bank of Michigan
|
1
|
2.63%
|
$6,267
|
GUILD MORTGAGE COMPANY
|
1
|
3.00%
|
$6,346
|
LENOX FINANCIAL MORTGAGE CORPORATION
|
1
|
2.88%
|
$7,789
|
ALAMEDA MORTGAGE CORPORATION
|
1
|
3.13%
|
$9,983
|
Northwest Bank
|
1
|
3.00%
|
$4,297
|
Atlantic Union Bank
|
1
|
3.25%
|
$6,355
|
NORTHERN MORTGAGE SERVICES, LLC
|
1
|
3.13%
|
$5,536
|
The State Bank and Trust Company
|
1
|
2.75%
|
$6,024
|
DAS Acquisition Company, LLC
|
1
|
2.75%
|
$14,118
|
DEVELOPER'S MORTGAGE COMPANY
|
1
|
2.50%
|
$5,396
|
TOWNE MORTGAGE COMPANY
|
1
|
3.25%
|
$5,577
|
AmRes Corporation
|
1
|
3.25%
|
$5,372
|
EMM LOANS LLC
|
1
|
4.25%
|
$9,575
|
MIDLAND MORTGAGE CORPORATION
|
1
|
3.75%
|
$6,207
|
United Fidelity Funding Corp.
|
1
|
3.13%
|
$7,431
|
DIRECT MORTGAGE LOANS, LLC
|
1
|
3.63%
|
$8,683
|
MLD MORTGAGE INC.
|
1
|
2.75%
|
$11,592
|
MORTGAGE ACCESS CORP.
|
1
|
3.75%
|
$8,788
|
Chickasaw Community Bank
|
1
|
2.88%
|
$6,723
|
US MORTGAGE CORPORATION
|
1
|
3.38%
|
$5,851
|
CapStar Bank
|
1
|
2.38%
|
$7,371
|
V.I.P. MORTGAGE, INC.
|
1
|
3.25%
|
$6,067
|
RAPID MORTGAGE COMPANY
|
1
|
3.38%
|
$7,310
|
PLUS RELOCATION MORTGAGE, LLC
|
1
|
3.25%
|
$6,364
|
INOVA FEDERAL CREDIT UNION
|
1
|
2.88%
|
$4,860
|
RESIDENTIAL MORTGAGE SERVICES, INC.
|
1
|
3.13%
|
$5,895
|
CIBC Bank USA
|
1
|
3.38%
|
$5,477
|
BETTER MORTGAGE CORPORATION
|
1
|
2.38%
|
$5,771
|
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 & INVESTMENT LLC ($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 |
$229,750 (28.7%) |
$308,648 (16.2%) |
0.85 |
4,744 |
2018-02-01 |
$247,325 (35.6%) |
$319,899 (15.7%) |
0.89 |
4,271 |
2018-03-01 |
$259,900 (26.8%) |
$334,910 (13.5%) |
0.90 |
4,205 |
2018-04-01 |
$267,948 (21.9%) |
$345,320 (13.6%) |
0.90 |
4,463 |
2018-05-01 |
$272,450 (19.0%) |
$348,856 (11.5%) |
0.91 |
4,890 |
2018-06-01 |
$269,900 (15.4%) |
$345,447 (8.3%) |
0.90 |
5,453 |
2018-07-01 |
$264,500 (15.0%) |
$338,191 (6.7%) |
0.88 |
6,014 |
2018-08-01 |
$252,945 (10.2%) |
$328,446 (5.2%) |
0.85 |
6,291 |
2018-09-01 |
$249,900 (10.1%) |
$324,252 (4.4%) |
0.84 |
6,537 |
2018-10-01 |
$239,900 (7.1%) |
$313,063 (2.3%) |
0.80 |
6,809 |
2018-11-01 |
$239,900 (6.7%) |
$316,177 (3.4%) |
0.80 |
6,544 |
2018-12-01 |
$237,500 (8.0%) |
$312,682 (3.6%) |
0.81 |
5,829 |
2019-01-01 |
$239,950 (4.4%) |
$314,762 (2.0%) |
0.83 |
5,291 |
2019-02-01 |
$254,500 (2.9%) |
$329,758 (3.1%) |
0.85 |
4,937 |
2019-03-01 |
$266,425 (2.5%) |
$345,105 (3.0%) |
0.87 |
4,791 |
2019-04-01 |
$277,450 (3.6%) |
$355,258 (2.9%) |
0.87 |
4,556 |
2019-05-01 |
$280,790 (3.1%) |
$358,568 (2.8%) |
0.87 |
4,961 |
2019-06-01 |
$279,900 (3.7%) |
$354,124 (2.5%) |
0.86 |
5,351 |
2019-07-01 |
$279,900 (5.8%) |
$364,423 (7.8%) |
0.87 |
5,756 |
2019-08-01 |
$262,100 (3.6%) |
$342,675 (4.3%) |
0.82 |
6,802 |
2019-09-01 |
$249,600 (-0.1%) |
$324,535 (0.1%) |
0.79 |
7,111 |
2019-10-01 |
$260,000 (8.4%) |
$331,393 (5.9%) |
0.83 |
6,371 |
2019-11-01 |
$259,900 (8.3%) |
$328,956 (4.0%) |
0.84 |
5,995 |
2019-12-01 |
$257,450 (8.4%) |
$327,432 (4.7%) |
0.86 |
5,245 |
2020-01-01 |
$264,950 (10.4%) |
$348,358 (10.7%) |
0.88 |
4,693 |
2020-02-01 |
$274,900 (8.0%) |
$339,974 (3.1%) |
0.89 |
4,113 |
2020-03-01 |
$279,750 (5.0%) |
$345,934 (0.2%) |
0.87 |
3,850 |
2020-04-01 |
$283,582 (2.2%) |
$343,096 (-3.4%) |
0.88 |
4,074 |
2020-05-01 |
$297,990 (6.1%) |
$362,318 (1.1%) |
0.90 |
3,834 |
2020-06-01 |
$299,900 (7.2%) |
$374,709 (5.8%) |
0.88 |
3,492 |
2020-07-01 |
$302,495 (8.1%) |
$381,977 (4.8%) |
0.87 |
3,347 |
2020-08-01 |
$299,000 (14.1%) |
$375,469 (9.6%) |
0.85 |
3,169 |
2020-09-01 |
$288,498 (15.6%) |
$370,156 (14.1%) |
0.82 |
3,215 |
2020-10-01 |
$275,000 (5.8%) |
$355,286 (7.2%) |
0.79 |
3,334 |
2020-11-01 |
$273,344 (5.2%) |
$348,253 (5.9%) |
0.78 |
3,245 |
2020-12-01 |
$262,500 (2.0%) |
$330,934 (1.1%) |
0.77 |
2,806 |
2021-01-01 |
$259,500 (-2.1%) |
$328,332 (-5.8%) |
0.76 |
2,295 |
2021-02-01 |
$264,950 (-3.6%) |
$342,483 (0.7%) |
0.76 |
1,780 |
2021-03-01 |
$271,750 (-2.9%) |
$352,190 (1.8%) |
0.76 |
1,688 |
2021-04-01 |
$274,309 (-3.3%) |
$364,858 (6.3%) |
0.74 |
1,668 |
2021-05-01 |
$275,000 (-7.7%) |
$369,154 (1.9%) |
0.72 |
1,722 |
2021-06-01 |
$277,000 (-7.6%) |
$372,081 (-0.7%) |
0.72 |
1,986 |
2021-07-01 |
$279,900 (-7.5%) |
$371,011 (-2.9%) |
0.73 |
2,275 |
2021-08-01 |
$279,000 (-6.7%) |
$371,217 (-1.1%) |
0.73 |
2,439 |
2021-09-01 |
$279,950 (-3.0%) |
$373,484 (0.9%) |
0.74 |
2,486 |
2021-10-01 |
$275,000 (0.0%) |
$365,239 (2.8%) |
0.72 |
2,507 |
2021-11-01 |
$269,950 (-1.2%) |
$360,352 (3.5%) |
0.71 |
2,314 |
2021-12-01 |
$276,250 (5.2%) |
$366,277 (10.7%) |
0.74 |
1,968 |
2022-01-01 |
$275,000 (6.0%) |
$369,709 (12.6%) |
0.73 |
1,648 |
2022-02-01 |
$287,450 (8.5%) |
$382,394 (11.7%) |
0.73 |
1,377 |
2022-03-01 |
$299,000 (10.0%) |
$397,951 (13.0%) |
0.74 |
1,371 |
2022-04-01 |
$300,000 (9.4%) |
$401,097 (9.9%) |
0.71 |
1,442 |
Indianapolis's median listing price for 2022-04-01 was $300,000, a difference of
$25,691
(9.4%) versus the prior year and
$1,000 versus the prior month.
Indianapolis's median listing price comes in at 71% of the national average.
Indianapolis's average listing price for 2022-04-01 was $401,097, a difference of
$36,239
(9.9%) versus the prior year and
$3,146 versus the prior month.
For the 2022-04-01 period, Indianapolis had 1,442 MLS listings, a difference of
71 listings
(5%)
versus the prior month and
-226 listings
(-14%)
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 |
80 days |
2,392 sqft |
2018-02-01 |
75 days |
2,430 sqft |
2018-03-01 |
54 days |
2,520 sqft |
2018-04-01 |
47 days |
2,547 sqft |
2018-05-01 |
42 days |
2,575 sqft |
2018-06-01 |
43 days |
2,572 sqft |
2018-07-01 |
45 days |
2,525 sqft |
2018-08-01 |
47 days |
2,472 sqft |
2018-09-01 |
51 days |
2,428 sqft |
2018-10-01 |
54 days |
2,371 sqft |
2018-11-01 |
58 days |
2,356 sqft |
2018-12-01 |
72 days |
2,323 sqft |
2019-01-01 |
80 days |
2,322 sqft |
2019-02-01 |
82 days |
2,387 sqft |
2019-03-01 |
63 days |
2,451 sqft |
2019-04-01 |
52 days |
2,502 sqft |
2019-05-01 |
45 days |
2,539 sqft |
2019-06-01 |
45 days |
2,541 sqft |
2019-07-01 |
49 days |
2,533 sqft |
2019-08-01 |
49 days |
2,413 sqft |
2019-09-01 |
55 days |
2,347 sqft |
2019-10-01 |
56 days |
2,400 sqft |
2019-11-01 |
59 days |
2,385 sqft |
2019-12-01 |
71 days |
2,344 sqft |
2020-01-01 |
81 days |
2,334 sqft |
2020-02-01 |
82 days |
2,322 sqft |
2020-03-01 |
55 days |
2,345 sqft |
2020-04-01 |
52 days |
2,362 sqft |
2020-05-01 |
58 days |
2,400 sqft |
2020-06-01 |
52 days |
2,408 sqft |
2020-07-01 |
49 days |
2,423 sqft |
2020-08-01 |
47 days |
2,388 sqft |
2020-09-01 |
46 days |
2,292 sqft |
2020-10-01 |
43 days |
2,250 sqft |
2020-11-01 |
46 days |
2,175 sqft |
2020-12-01 |
54 days |
2,086 sqft |
2021-01-01 |
64 days |
2,050 sqft |
2021-02-01 |
64 days |
2,030 sqft |
2021-03-01 |
46 days |
2,057 sqft |
2021-04-01 |
40 days |
2,062 sqft |
2021-05-01 |
37 days |
2,053 sqft |
2021-06-01 |
35 days |
2,072 sqft |
2021-07-01 |
36 days |
2,112 sqft |
2021-08-01 |
36 days |
2,103 sqft |
2021-09-01 |
38 days |
2,084 sqft |
2021-10-01 |
39 days |
2,100 sqft |
2021-11-01 |
41 days |
2,081 sqft |
2021-12-01 |
45 days |
2,056 sqft |
2022-01-01 |
51 days |
2,020 sqft |
2022-02-01 |
43 days |
2,000 sqft |
2022-03-01 |
37 days |
2,050 sqft |
2022-04-01 |
33 days |
2,061 sqft |
Indianapolis's median listing age (time on market) for 2022-04-01 was 33 days.
This
is -18%
shorter
than the same period one year ago.
Indianapolis's median square footage for active listings during the 2022-04-01 period was
2,061 sqft. One year prior, the average listing was
2,062 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).