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 224 lenders originated 8,310 FHA loans during 2022. The total origination value was $1,864,980,000, with an average FHA loan value of $224,426.

    Indianapolis FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Indianapolis averaged 6.36% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

    Indianapolis's average FHA mortgage closing costs are $6,199.

    The average rate for the prior week (2023-05-19) was 6.43% and one month ago for the week of 2023-04-21, the average rate was 6.27%.

    The average rate one year ago was 5.09%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.12%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    QUICKEN LOANS, LLC 709 4.54% $8,757
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 667 5.47% $7,758
    CALIBER HOME LOANS, INC. 594 5.11% $7,681
    GVC MORTGAGE, INC. 387 5.47% $8,612
    RUOFF MORTGAGE COMPANY, INC. 382 5.38% $6,971
    FREEDOM MORTGAGE CORPORATION 284 4.90% $8,881
    UNITED WHOLESALE MORTGAGE, LLC 266 4.97% $9,064
    VANDERBILT MORTGAGE AND FINANCE, INC. 260 5.00% $10,694
    CROSSCOUNTRY MORTGAGE, LLC 194 5.52% $9,840
    MJW Financial LLC 179 5.20% $8,229
    LOANDEPOT.COM, LLC 175 4.74% $8,880
    DHI MORTGAGE COMPANY, LTD. 158 4.51% $8,848
    LAKEVIEW LOAN SERVICING, LLC 128 4.22% $6,895
    EAGLE HOME MORTGAGE, LLC 116 4.71% $10,657
    First Option Mortgage, LLC 108 5.20% $12,156
    The Huntington National Bank 105 4.79% $6,635
    Mr. Cooper ( Nationstar Mortgage ) 104 4.68% $11,229
    AMERISAVE MORTGAGE CORPORATION 103 4.74% $10,527
    Carrington Mortgage Services, LLC 97 5.03% $9,969
    NEWREZ LLC 94 5.01% $8,136
    BROKER SOLUTIONS, INC. 91 5.47% $9,677
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 86 5.47% $8,786
    PENNYMAC LOAN SERVICES, LLC 83 4.24% $8,436
    HALLMARK HOME MORTGAGE, LLC 82 5.32% $8,972
    Flagstar Bank, FSB 76 4.94% $7,617
    NVR Mortgage Finance, Inc. 76 4.32% $12,956
    PRIMELENDING, A PLAINSCAPITAL COMPANY 73 5.10% $8,618
    EUSTIS AND AMERICAN MORTGAGE COMPANY 65 5.39% $8,943
    The Federal Savings Bank 61 5.36% $7,750
    Nations Lending Corporation 56 5.44% $10,324
    TUCKER MORTGAGE, LLC 55 5.17% $7,077
    JLB CORPORATION 53 4.59% $7,713
    PLAZA HOME MORTGAGE, INC. 49 5.17% $8,369
    Fifth Third Bank 49 4.82% $5,741
    M/I FINANCIAL, LLC 45 4.75% $12,278
    Gateway First Bank 44 5.55% $7,426
    AMERIFIRST FINANCIAL CORPORATION 43 5.53% $9,870
    GUARANTEED RATE, INC. 43 5.14% $8,933
    JPMorgan Chase Bank 39 5.13% $6,040
    Northpointe Bank 37 5.33% $8,846
    HOME POINT FINANCIAL CORPORATION 37 4.65% $9,524
    CARDINAL FINANCIAL 37 4.48% $9,735
    VILLAGE CAPITAL MORTGAGE 35 3.85% $5,375
    FINANCE OF AMERICA MORTGAGE LLC 34 4.94% $8,775
    VICTORY MORTGAGE, L.L.C. 33 4.66% $8,683
    OPEN MORTGAGE, LLC 29 5.11% $9,017
    Equity Prime Mortgage LLC 28 5.25% $8,586
    Wolfe Financial, Inc 27 5.37% $8,893
    MILESTONE HOME LENDING, LLC 27 4.85% $8,207
    PNC Bank 27 4.22% $5,063
    PRIMARY RESIDENTIAL MORTGAGE, INC. 27 5.14% $9,296
    PULTE MORTGAGE LLC 27 4.70% $7,632
    Regions Bank 27 5.30% $6,975
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 25 5.46% $8,472
    MUTUAL OF OMAHA MORTGAGE, INC. 25 5.35% $11,191
    ROYAL UNITED MORTGAGE LLC 25 5.09% $9,710
    AMERICAN MORTGAGE SERVICE COMPANY 24 5.49% $7,541
    TOP FLITE FINANCIAL, INC. 24 5.38% $14,981
    LOANPAL, LLC 23 4.87% $10,776
    Citizens Bank 23 4.39% $7,763
    First Merchants Bank 23 5.34% $7,069
    Elements Financial Federal Credit Union 22 4.66% $7,538
    The Home Loan Expert LLC 21 5.15% $8,408
    UNION HOME MORTGAGE CORP. 21 5.14% $7,852
    EVERETT FINANCIAL, INC. 20 6.13% $5,467
    MID AMERICA MORTGAGE, INC. 19 5.19% $3,962
    HOMEBRIDGE FINANCIAL SERVICES, INC. 19 4.51% $7,918
    FORUM Credit Union 19 4.66% $6,474
    Union Savings Bank 18 5.02% $5,896
    Bank of England 18 5.35% $9,986
    Loan Simple, Inc. 18 5.31% $10,614
    Sierra Pacific Mortgage Company, Inc. 16 5.41% $7,848
    HOMESIDE FINANCIAL, LLC 16 5.30% $9,008
    M&T Bank 15 4.82% $7,699
    FIRST CENTENNIAL MORTGAGE CORPORATION 15 5.46% $9,089
    SOUTHWEST FUNDING, LP 14 5.26% $8,972
    Blue Ridge Bank 14 4.80% $7,913
    INDIANA MEMBERS CREDIT UNION 14 5.00% $6,354
    ENDEAVOR CAPITAL, LLC. 14 5.07% $7,995
    AMERICAN FINANCING CORPORATION 13 4.36% $9,339
    RELIANCE FIRST CAPITAL, LLC 13 4.85% $8,810
    MOVEMENT MORTGAGE, LLC 13 5.59% $10,220
    Mortgage Research Center, LLC 13 5.57% $6,434
    SUN WEST MORTGAGE COMPANY, INC. 13 5.09% $10,086
    MICHIGAN MUTUAL, INC. 13 4.59% $8,273
    GSF Mortgage Corporation 12 5.14% $10,730
    AmeriHome Mortgage Company, LLC 12 4.94% $9,035
    Hometown Lenders, Inc. 12 5.54% $9,953
    First Internet Bank of Indiana 12 5.08% $6,441
    FIRST COMMUNITY MORTGAGE, INC. 11 6.80% $10,840
    BMO Harris Bank 11 6.14% $7,460
    LAND HOME FINANCIAL SERVICES, INC. 11 5.49% $8,471
    SUCCESS MORTGAGE PARTNERS, INC. 10 5.30% $11,309
    GENEVA FINANCIAL, LLC 10 4.71% $8,070
    1ST SIGNATURE LENDING, LLC 10 5.94% $10,678
    CHERRY CREEK MORTGAGE, LLC 10 5.90% $4,201
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 9 4.13% $10,425
    WINTERWOOD MORTGAGE GROUP, LLC 9 5.11% $83,111
    Old National Bank 9 6.01% $5,470
    POLARIS HOME FUNDING CORP. 9 5.37% $10,967
    ZILLOW HOME LOANS, LLC 8 5.36% $9,719
    BAYSHORE MORTGAGE FUNDING, LLC 8 5.44% $10,196
    Paramount Residential Mortgage Group, Inc. 8 4.97% $8,569
    RESIDENTIAL BANCORP. 8 5.42% $10,192
    U.S. Bank 7 5.20% $7,992
    KELLER MORTGAGE, LLC 7 4.20% $9,204
    FAIR WAY LENDING LLC 6 4.50% $7,176
    Advisors Mortgage Group, L.L.C. 6 5.60% $6,610
    EMM LOANS LLC 6 5.54% $12,674
    DRAPER AND KRAMER MORTGAGE CORP. 6 5.48% $7,814
    AMERICAN PACIFIC MORTGAGE CORPORATION 6 5.89% $11,474
    Horizon Bank 6 5.75% $6,439
    KeyBank 6 3.92% $6,632
    LEADERONE FINANCIAL CORPORATION 6 4.65% $9,186
    Merchants Bank of Indiana 6 5.35% $7,312
    CITY FIRST MORTGAGE SERVICES, L.L.C. 6 6.71% $8,932
    PLANET HOME LENDING, LLC 6 4.00% $5,561
    Magnolia Bank 5 5.20% $10,132
    First Financial Bank 5 4.53% $5,561
    United Fidelity Funding Corp. 5 5.35% $17,911
    MORTGAGE 1 INCORPORATED 5 5.75% $7,587
    ALLIED MORTGAGE GROUP, INC. 5 4.95% $15,395
    First Savings Bank 5 4.20% $10,179
    CHURCHILL MORTGAGE CORPORATION 5 5.25% $8,352
    OCMBC, INC. 5 5.15% $8,804
    Wyndham Capital Mortgage, Inc. 5 4.85% $7,162
    NFM, INC. 5 5.73% $11,239
    Centier Bank 4 4.88% $7,488
    First Home Bank 4 5.38% $8,877
    Bank of America 4 5.16% $5,458
    First Guaranty Mortgage Corporation 4 3.88% $8,224
    LIBERTY HOME MORTGAGE CORPORATION 4 5.41% $17,602
    Cornerstone First Mortgage, Inc 4 5.44% $8,951
    DAS Acquisition Company, LLC 4 5.16% $9,639
    MIDLAND MORTGAGE CORPORATION 4 4.88% $6,685
    BAY EQUITY LLC 4 5.38% $7,172
    PANORAMA MORTGAGE GROUP, LLC 4 5.97% $10,447
    OCEANSIDE MORTGAGE COMPANY 4 4.25% $4,262
    AMCAP MORTGAGE, LTD. 4 5.38% $10,872
    Austin Capital Bank SSB 4 6.41% $8,862
    FirstBank 3 4.33% $6,017
    EMBRACE HOME LOANS, INC. 3 6.66% $11,140
    NATIONS DIRECT MORTGAGE, LLC 3 5.41% $9,703
    Century Mortgage Company DBA Century Lending Company 3 5.50% $8,588
    NATIONS RELIABLE LENDING, LLC 3 5.46% $12,351
    NBKC BANK 3 4.54% $7,893
    NETWORK CAPITAL FUNDING CORPORATION 3 3.67% $10,307
    North American Savings Bank, F.S.B. 3 5.50% $9,849
    NORWICH COMMERCIAL GROUP, INC. 3 5.92% $7,716
    PHH Mortgage Corporation 3 5.54% $8,258
    Plains Commerce Bank 3 5.13% $8,229
    SOVEREIGN LENDING GROUP INCORPORATED 3 4.58% $8,713
    TEACHERS CREDIT UNION 3 5.17% $6,731
    V.I.P. MORTGAGE, INC. 3 4.83% $9,066
    Waterstone Mortgage Corporation 3 5.13% $10,431
    LOANFLIGHT LENDING, LLC 2 4.75% $11,969
    DIRECT MORTGAGE LOANS, LLC 2 5.69% $8,127
    CITYWIDE HOME LOANS, LLC 2 5.31% $8,750
    GUARANTEED RATE AFFINITY, LLC 2 4.11% $8,544
    MORTGAGE MASTERS OF INDIANA, INC. 2 4.00% $5,040
    UNITED MORTGAGE CORP. 2 3.75% $7,974
    S1L, Inc. 2 5.44% $9,139
    AMERICAN FINANCIAL RESOURCES, INC. 2 4.50% $6,641
    Hometown Equity Mortgage, LLC 2 7.00% $8,381
    Prosperity Home Mortgage, LLC 2 6.44% $6,243
    ACADEMY MORTGAGE CORPORATION 2 6.31% $8,240
    VERITAS FUNDING, LLC 2 5.19% $19,007
    Texana Bank 2 3.69% $9,523
    Wells Fargo Bank 2 4.81% $7,130
    COMPASS MORTGAGE, INC. 2 5.00% $10,373
    HOMESTAR FINANCIAL CORPORATION 2 5.44% $4,964
    FIRST EQUITY MORTGAGE INCORPORATED 2 4.19% $9,481
    NP, Inc. 2 4.56% $11,314
    MORIA DEVELOPMENT, INC. 2 5.19% $14,282
    CIBM Bank 2 4.25% $4,821
    CASTLE & COOKE MORTGAGE, LLC 2 5.13% $10,280
    Colten Mortgage, LLC 2 3.44% $6,225
    Peoples Bank 2 5.69% $15,897
    Sunflower Bank 1 5.63% $7,965
    T2 FINANCIAL LLC 1 4.75% $8,223
    ARC HOME LLC 1 6.63% $10,056
    HOMESTEAD FUNDING CORP. 1 4.75% $6,444
    THE MORTGAGE FIRM, INC. 1 6.75% $15,374
    THE MORTGAGE WAREHOUSE,LLC 1 5.50% $6,969
    The State Bank and Trust Company 1 4.38% $9,340
    The Union Bank Company 1 3.88% $8,269
    DEVELOPER'S MORTGAGE COMPANY 1 6.63% $10,527
    GUARANTY HOME MORTGAGE CORPORATION 1 4.25% $4,710
    GERSHMAN INVESTMENT CORP. 1 4.25% $6,346
    UNITED SECURITY FINANCIAL CORP 1 4.88% $20,190
    UNIVERSITY LENDING GROUP, LLC 1 4.63% $7,473
    German American Bank 1 4.63% $5,477
    FLAT BRANCH MORTGAGE, INC. 1 4.13% $12,858
    ENVOY MORTGAGE, LTD 1 3.50% $6,066
    First State Bank of St. Charles, Missouri 1 4.63% $6,666
    First Federal Bank 1 6.13% $9,240
    Watermark Capital, Inc. 1 5.13% $7,572
    Notre Dame Federal Credit Union Corporation 1 4.13% $5,320
    Northwest Bank 1 5.50% $6,793
    Neighborhood Loans, Inc. 1 3.50% $7,145
    NATIONWIDE MORTGAGE BANKERS, INC. 1 3.25% $5,544
    Pacor Mortgage Corp 1 3.50% $8,161
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.88% $14,543
    BETTER MORTGAGE CORPORATION 1 5.25% $8,701
    PENTAGON FEDERAL CREDIT UNION 1 4.25% $8,747
    Willamette Valley Bank 1 6.00% $11,554
    BECKAM FUNDING CORP. 1 4.38% $11,952
    PREMIA MORTGAGE, LLC 1 4.75% $5,252
    Barrington Bank & Trust Company, N.A. 1 5.75% $10,472
    Meridian Bank Corporation 1 5.75% $12,714
    Bank of Colorado 1 3.50% $6,962
    Low VA Rates, LLC 1 3.75% $8,987
    Renasant Bank 1 5.63% $9,407
    Commerce Home Mortgage, Inc. 1 5.13% $10,319
    LENOX FINANCIAL MORTGAGE CORPORATION 1 3.75% $6,898
    SECURITYNATIONAL MORTGAGE COMPANY 1 5.25% $4,750
    Servion, Inc. 1 5.50% $9,076
    CRESCENT MORTGAGE COMPANY 1 5.63% $8,398
    SOUTHWEST STAGE FUNDING, LLC 1 6.75% $12,326
    First Financial Bank 1 5.62% $8,985
    STEARNS LENDING, LLC 1 4.25% $4,486
    STOCKTON MORTGAGE CORPORATION 1 4.75% $7,926
    Stock Yards Bank & Trust Company 1 5.88% $19,100
    IMPAC MORTGAGE CORP. 1 5.25% $7,042

    The top Indianapolis FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 709 FHA loans originated. Their average total fees are $8,757, which is $999 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Indianapolis FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($3,962), CHERRY CREEK MORTGAGE, LLC ($4,201), PNC Bank ($5,063), VILLAGE CAPITAL MORTGAGE ($5,375) and EVERETT FINANCIAL, INC. ($5,467).

    The lowest rate Indianapolis FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (3.85%), PNC Bank (4.22%), LAKEVIEW LOAN SERVICING, LLC (4.22%), PENNYMAC LOAN SERVICES, LLC (4.24%) and NVR Mortgage Finance, Inc. (4.32%).

    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
    INDIANAPOLIS-CARMEL-ANDERSON, IN BOONE 2023 $472,030 $604,400 $730,525 $907,900
    INDIANAPOLIS-CARMEL-ANDERSON, IN BROWN 2023 $472,030 $604,400 $730,525 $907,900
    INDIANAPOLIS-CARMEL-ANDERSON, IN HAMILTON 2023 $472,030 $604,400 $730,525 $907,900
    INDIANAPOLIS-CARMEL-ANDERSON, IN HANCOCK 2023 $472,030 $604,400 $730,525 $907,900
    INDIANAPOLIS-CARMEL-ANDERSON, IN HENDRICKS 2023 $472,030 $604,400 $730,525 $907,900
    INDIANAPOLIS-CARMEL-ANDERSON, IN JOHNSON 2023 $472,030 $604,400 $730,525 $907,900
    INDIANAPOLIS-CARMEL-ANDERSON, IN MADISON 2023 $472,030 $604,400 $730,525 $907,900
    INDIANAPOLIS-CARMEL-ANDERSON, IN MARION 2023 $472,030 $604,400 $730,525 $907,900
    INDIANAPOLIS-CARMEL-ANDERSON, IN MORGAN 2023 $472,030 $604,400 $730,525 $907,900
    INDIANAPOLIS-CARMEL-ANDERSON, IN PUTNAM 2023 $472,030 $604,400 $730,525 $907,900
    INDIANAPOLIS-CARMEL-ANDERSON, IN SHELBY 2023 $472,030 $604,400 $730,525 $907,900

    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%) $353,497 (16.5%) 0.94 4,342
    2018-05-01 $284,950 (24.7%) $360,568 (15.4%) 0.95 4,761
    2018-06-01 $279,900 (19.2%) $354,188 (11.1%) 0.93 5,323
    2018-07-01 $272,400 (18.4%) $344,364 (9.0%) 0.91 5,891
    2018-08-01 $261,956 (14.2%) $334,764 (7.3%) 0.88 6,154
    2018-09-01 $254,900 (12.3%) $329,089 (6.3%) 0.86 6,416
    2018-10-01 $243,900 (8.5%) $317,514 (4.0%) 0.83 6,686
    2018-11-01 $239,900 (6.6%) $317,561 (3.9%) 0.81 6,402
    2018-12-01 $239,800 (7.3%) $313,745 (3.8%) 0.83 5,730
    2019-01-01 $242,400 (5.4%) $316,279 (2.5%) 0.84 5,183
    2019-02-01 $256,948 (3.8%) $331,697 (3.6%) 0.87 4,839
    2019-03-01 $264,875 (1.9%) $342,951 (2.5%) 0.88 4,570
    2019-04-01 $278,446 (0.0%) $356,453 (0.8%) 0.88 4,541
    2019-05-01 $282,950 (-0.7%) $360,044 (-0.2%) 0.88 4,954
    2019-06-01 $279,900 (0.0%) $354,729 (0.2%) 0.87 5,353
    2019-07-01 $279,900 (2.8%) $365,360 (6.1%) 0.88 5,745
    2019-08-01 $279,900 (6.9%) $358,998 (7.2%) 0.88 6,257
    2019-09-01 $271,175 (6.4%) $351,012 (6.7%) 0.86 6,561
    2019-10-01 $260,000 (6.6%) $332,213 (4.6%) 0.84 6,365
    2019-11-01 $259,900 (8.3%) $328,551 (3.5%) 0.85 5,982
    2019-12-01 $255,925 (6.7%) $326,550 (4.1%) 0.85 5,204
    2020-01-01 $264,945 (9.3%) $348,053 (10.1%) 0.89 4,663
    2020-02-01 $269,900 (5.0%) $339,348 (2.3%) 0.88 4,080
    2020-03-01 $279,495 (5.5%) $345,530 (0.8%) 0.88 3,855
    2020-04-01 $283,789 (1.9%) $342,438 (-3.9%) 0.89 4,060
    2020-05-01 $297,422 (5.1%) $361,460 (0.4%) 0.90 3,831
    2020-06-01 $299,900 (7.2%) $373,861 (5.4%) 0.88 3,503
    2020-07-01 $300,000 (7.2%) $379,844 (4.0%) 0.87 3,357
    2020-08-01 $299,500 (7.0%) $374,056 (4.2%) 0.86 3,203
    2020-09-01 $285,000 (5.1%) $366,767 (4.5%) 0.82 3,228
    2020-10-01 $274,900 (5.7%) $352,028 (6.0%) 0.79 3,340
    2020-11-01 $266,091 (2.4%) $341,565 (4.0%) 0.78 3,254
    2020-12-01 $259,950 (1.6%) $328,491 (0.6%) 0.77 2,789
    2021-01-01 $257,245 (-2.9%) $328,831 (-5.5%) 0.77 2,290
    2021-02-01 $264,950 (-1.8%) $343,178 (1.1%) 0.77 1,769
    2021-03-01 $271,250 (-3.0%) $353,522 (2.3%) 0.77 1,705
    2021-04-01 $274,950 (-3.1%) $364,271 (6.4%) 0.74 1,689
    2021-05-01 $275,000 (-7.5%) $367,989 (1.8%) 0.73 1,767
    2021-06-01 $275,000 (-8.3%) $372,147 (-0.5%) 0.72 2,012
    2021-07-01 $279,900 (-6.7%) $369,526 (-2.7%) 0.74 2,313
    2021-08-01 $279,300 (-6.7%) $371,898 (-0.6%) 0.74 2,450
    2021-09-01 $280,000 (-1.8%) $373,895 (1.9%) 0.75 2,492
    2021-10-01 $275,000 (0.0%) $364,498 (3.5%) 0.73 2,507
    2021-11-01 $269,950 (1.5%) $358,029 (4.8%) 0.72 2,314
    2021-12-01 $277,000 (6.6%) $363,974 (10.8%) 0.75 1,961
    2022-01-01 $279,000 (8.5%) $367,956 (11.9%) 0.75 1,630
    2022-02-01 $291,450 (10.0%) $380,325 (10.8%) 0.76 1,381
    2022-03-01 $297,000 (9.5%) $395,176 (11.8%) 0.74 1,375
    2022-04-01 $299,900 (9.1%) $399,812 (9.8%) 0.71 1,446
    2022-05-01 $315,000 (14.6%) $402,059 (9.3%) 0.72 1,975
    2022-06-01 $319,950 (16.4%) $407,139 (9.4%) 0.71 2,447
    2022-07-01 $324,967 (16.1%) $404,816 (9.6%) 0.73 3,173
    2022-08-01 $311,075 (11.4%) $387,128 (4.1%) 0.72 3,405
    2022-09-01 $300,000 (7.1%) $381,405 (2.0%) 0.70 3,600
    2022-10-01 $299,997 (9.1%) $381,619 (4.7%) 0.71 3,810
    2022-11-01 $295,000 (9.3%) $377,207 (5.4%) 0.71 3,864
    2022-12-01 $294,000 (6.1%) $376,099 (3.3%) 0.73 3,487
    2023-01-01 $289,500 (3.8%) $379,764 (3.2%) 0.72 2,989
    2023-02-01 $299,500 (2.8%) $392,801 (3.3%) 0.72 2,572
    2023-03-01 $311,125 (4.8%) $408,429 (3.4%) 0.73 2,352
    2023-04-01 $329,900 (10.0%) $443,053 (10.8%) 0.77 2,343
    Indianapolis's median listing price for 2023-04-01 was $329,900, a difference of $30,000 (10.0%) versus the prior year and $18,775 versus the prior month.

    Indianapolis's median listing price comes in at 77% of the national average.

    Indianapolis's average listing price for 2023-04-01 was $443,053, a difference of $43,241 (10.8%) versus the prior year and $34,624 versus the prior month.

    For the 2023-04-01 period, Indianapolis had 2,343 MLS listings, a difference of -9 listings (0%) versus the prior month and 897 listings (62%) 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 2,605 sqft
    2018-05-01 39 days 2,659 sqft
    2018-06-01 40 days 2,640 sqft
    2018-07-01 45 days 2,574 sqft
    2018-08-01 48 days 2,521 sqft
    2018-09-01 51 days 2,458 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 60 days 2,414 sqft
    2019-04-01 51 days 2,494 sqft
    2019-05-01 45 days 2,538 sqft
    2019-06-01 45 days 2,538 sqft
    2019-07-01 50 days 2,532 sqft
    2019-08-01 58 days 2,538 sqft
    2019-09-01 67 days 2,452 sqft
    2019-10-01 57 days 2,403 sqft
    2019-11-01 61 days 2,375 sqft
    2019-12-01 73 days 2,338 sqft
    2020-01-01 84 days 2,329 sqft
    2020-02-01 85 days 2,320 sqft
    2020-03-01 54 days 2,345 sqft
    2020-04-01 51 days 2,364 sqft
    2020-05-01 57 days 2,400 sqft
    2020-06-01 50 days 2,408 sqft
    2020-07-01 47 days 2,420 sqft
    2020-08-01 46 days 2,387 sqft
    2020-09-01 45 days 2,288 sqft
    2020-10-01 43 days 2,238 sqft
    2020-11-01 50 days 2,153 sqft
    2020-12-01 57 days 2,085 sqft
    2021-01-01 62 days 2,047 sqft
    2021-02-01 60 days 2,036 sqft
    2021-03-01 43 days 2,063 sqft
    2021-04-01 37 days 2,058 sqft
    2021-05-01 36 days 2,059 sqft
    2021-06-01 33 days 2,069 sqft
    2021-07-01 34 days 2,118 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 41 days 2,074 sqft
    2021-12-01 45 days 2,056 sqft
    2022-01-01 50 days 2,017 sqft
    2022-02-01 38 days 1,999 sqft
    2022-03-01 34 days 2,045 sqft
    2022-04-01 30 days 2,063 sqft
    2022-05-01 27 days 2,110 sqft
    2022-06-01 28 days 2,166 sqft
    2022-07-01 31 days 2,176 sqft
    2022-08-01 37 days 2,123 sqft
    2022-09-01 39 days 2,093 sqft
    2022-10-01 42 days 2,086 sqft
    2022-11-01 46 days 2,086 sqft
    2022-12-01 54 days 2,080 sqft
    2023-01-01 63 days 2,049 sqft
    2023-02-01 61 days 2,089 sqft
    2023-03-01 49 days 2,100 sqft
    2023-04-01 39 days 2,160 sqft
    Indianapolis's median listing age (time on market) for 2023-04-01 was 39 days. This is 32% longer than the same period one year ago.

    Indianapolis's median square footage for active listings during the 2023-04-01 period was 2,160 sqft. One year prior, the average listing was 2,063 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).