Indianapolis FHA Loan Rates, Closing Costs & Stats

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 216 lenders originated 7,404 FHA loans during 2023. The total origination value was $1,810,610,000, with an average FHA loan value of $244,545.

Indianapolis FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Indianapolis averaged 6.81% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Indianapolis's average FHA mortgage closing costs are $6,644.

The average rate for the prior week (2024-04-05) was 6.73% and one month ago for the week of 2024-03-08, the average rate was 6.47%.

The average rate one year ago was 6.4%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.71%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 719 6.29% $9,629
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 473 7.02% $7,950
UNITED WHOLESALE MORTGAGE, LLC 369 6.43% $11,531
GVC MORTGAGE, INC. 326 6.99% $9,765
VANDERBILT MORTGAGE AND FINANCE, INC. 301 5.99% $12,224
RUOFF MORTGAGE COMPANY, INC. 274 6.92% $7,367
NEWREZ LLC 255 6.76% $9,322
CALIBER HOME LOANS, INC. 252 6.59% $8,318
FREEDOM MORTGAGE CORPORATION 203 6.76% $11,672
EAGLE HOME MORTGAGE, LLC 198 5.25% $10,439
DHI MORTGAGE COMPANY, LTD. 192 5.28% $8,055
MJW Financial LLC 190 6.82% $9,124
CROSSCOUNTRY MORTGAGE, LLC 179 6.91% $10,209
LOANDEPOT.COM, LLC 112 6.39% $11,044
M/I FINANCIAL, LLC 88 5.59% $18,154
Mr. Cooper ( Nationstar Mortgage ) 87 6.13% $13,071
BROKER SOLUTIONS, INC. 79 6.84% $10,283
Fifth Third Bank 78 6.57% $5,993
NVR Mortgage Finance, Inc. 77 5.96% $10,792
The Federal Savings Bank 77 6.93% $10,464
Carrington Mortgage Services, LLC 74 6.21% $11,247
AMERISAVE MORTGAGE CORPORATION 69 6.14% $12,555
First Option Mortgage, LLC 61 6.59% $10,265
LOANPAL, LLC 60 5.84% $11,292
PENNYMAC LOAN SERVICES, LLC 57 6.30% $10,425
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 55 7.01% $9,931
UNION HOME MORTGAGE CORP. 53 6.88% $9,448
The Huntington National Bank 53 6.69% $7,716
HALLMARK HOME MORTGAGE, LLC 53 6.77% $10,491
EUSTIS AND AMERICAN MORTGAGE COMPANY 52 7.08% $8,007
TUCKER MORTGAGE, LLC 47 6.77% $7,312
GUARANTEED RATE, INC. 46 6.21% $11,366
FIRST COMMUNITY MORTGAGE, INC. 45 7.07% $10,704
MUTUAL OF OMAHA MORTGAGE, INC. 44 6.64% $11,860
PLAZA HOME MORTGAGE, INC. 41 6.65% $11,740
JPMorgan Chase Bank 40 6.53% $6,255
Regions Bank 40 6.10% $7,755
ENDEAVOR CAPITAL, LLC. 38 6.76% $9,778
Union Savings Bank 36 6.94% $6,856
PULTE MORTGAGE LLC 36 5.94% $8,807
MILESTONE HOME LENDING, LLC 36 7.11% $8,705
Mortgage Research Center, LLC 34 7.07% $6,314
LAKEVIEW LOAN SERVICING, LLC 33 6.00% $10,482
Flagstar Bank, FSB 33 6.66% $9,795
CARDINAL FINANCIAL 32 6.07% $9,589
PRIMELENDING, A PLAINSCAPITAL COMPANY 31 7.05% $9,550
THRIVE MORTGAGE, LLC 31 6.74% $8,065
Bank of England 30 6.85% $9,706
First Merchants Bank 30 6.94% $6,872
Wolfe Financial, Inc 29 7.03% $8,997
Northpointe Bank 29 6.78% $10,123
AmeriHome Mortgage Company, LLC 26 6.71% $11,048
FORUM Credit Union 23 6.74% $6,591
HOMESIDE FINANCIAL, LLC 22 6.80% $10,612
OPEN MORTGAGE, LLC 22 6.95% $8,253
PNC Bank 22 6.81% $5,708
GUILD MORTGAGE COMPANY 21 7.38% $9,788
Advisors Mortgage Group, L.L.C. 20 6.64% $7,016
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 20 7.06% $8,175
JLB CORPORATION 20 6.44% $9,962
ROYAL UNITED MORTGAGE LLC 19 6.60% $10,194
MOVEMENT MORTGAGE, LLC 19 6.63% $13,082
ZILLOW HOME LOANS, LLC 19 6.75% $8,051
Gateway First Bank 19 6.78% $8,424
Nations Lending Corporation 18 6.49% $8,027
Prosperity Home Mortgage, LLC 18 6.46% $11,633
Loan Simple, Inc. 18 6.87% $10,707
AMERICAN FINANCIAL NETWORK, INC. 18 7.28% $13,326
Century Mortgage Company DBA Century Lending Company 17 6.43% $13,105
Plains Commerce Bank 16 6.63% $11,393
Equity Prime Mortgage LLC 16 7.05% $8,813
VICTORY MORTGAGE, L.L.C. 15 5.93% $8,723
Merchants Bank of Indiana 15 6.93% $7,362
PLANET HOME LENDING, LLC 15 5.83% $14,539
NATIONS RELIABLE LENDING, LLC 14 6.86% $9,355
Elements Financial Federal Credit Union 14 6.90% $7,411
HOMEBRIDGE FINANCIAL SERVICES, INC. 14 6.14% $9,395
KeyBank 14 6.58% $6,327
MICHIGAN MUTUAL, INC. 14 6.49% $10,177
Paramount Residential Mortgage Group, Inc. 14 6.71% $10,022
United Fidelity Funding Corp. 14 6.44% $18,815
TOP FLITE FINANCIAL, INC. 13 6.94% $17,811
Old National Bank 13 6.59% $7,114
RELIANCE FIRST CAPITAL, LLC 13 6.53% $11,379
EVERETT FINANCIAL, INC. 13 6.94% $9,936
LEADERONE FINANCIAL CORPORATION 11 6.82% $10,527
INDIANA MEMBERS CREDIT UNION 11 6.50% $7,940
DAS Acquisition Company, LLC 11 7.08% $10,081
LAND HOME FINANCIAL SERVICES, INC. 11 7.23% $12,171
BAY EQUITY LLC 10 6.64% $9,423
TJC Mortgage, Inc. 10 7.16% $13,504
SUN WEST MORTGAGE COMPANY, INC. 10 6.32% $12,363
Blue Ridge Bank 10 6.59% $6,669
VILLAGE CAPITAL MORTGAGE 9 6.24% $9,066
STOCKTON MORTGAGE CORPORATION 9 7.22% $9,942
BMO Harris Bank 9 6.82% $6,013
WesBanco 8 6.30% $7,280
AMERICAN PACIFIC MORTGAGE CORPORATION 7 7.21% $10,264
AMERICAN FINANCING CORPORATION 7 6.62% $11,354
PRIMARY RESIDENTIAL MORTGAGE, INC. 7 6.71% $11,113
U.S. Bank 7 6.39% $7,034
Centier Bank 7 7.07% $8,370
EMM LOANS LLC 7 6.41% $13,284
POLARIS HOME FUNDING CORP. 7 6.45% $13,277
ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 6.71% $8,485
CORNERSTONE HOME LENDING, INC. 6 7.15% $7,008
Horizon Bank 6 6.67% $6,082
First Financial Bank 5 6.85% $7,553
MID AMERICA MORTGAGE, INC. 5 7.44% $5,454
MORTGAGE SOLUTIONS OF COLORADO, LLC 5 6.93% $20,451
CITY FIRST MORTGAGE SERVICES, L.L.C. 5 7.45% $12,036
M&T Bank 5 6.60% $7,639
NATIONWIDE MORTGAGE BANKERS, INC. 5 6.65% $8,936
NBKC BANK 5 6.05% $7,042
CHURCHILL MORTGAGE CORPORATION 5 6.30% $8,746
OCMBC, INC. 5 7.23% $10,782
PACIFIC RESIDENTIAL MORTGAGE, LLC 5 7.50% $8,732
PHH Mortgage Corporation 5 6.40% $10,769
AXIA FINANCIAL, LLC 5 6.80% $10,398
TEACHERS CREDIT UNION 5 6.65% $6,279
LIBERTY HOME MORTGAGE CORPORATION 4 7.31% $11,122
GSF Mortgage Corporation 4 6.22% $9,367
1ST SIGNATURE LENDING, LLC 4 6.22% $10,305
DRAPER AND KRAMER MORTGAGE CORP. 4 6.03% $8,689
The State Bank and Trust Company 4 6.69% $7,641
GENEVA FINANCIAL, LLC 4 6.88% $13,415
SUCCESS MORTGAGE PARTNERS, INC. 4 6.63% $12,282
NFM, INC. 4 7.22% $10,109
Sierra Pacific Mortgage Company, Inc. 4 6.59% $11,283
Barrington Bank & Trust Company, N.A. 4 7.09% $8,179
OCEANSIDE MORTGAGE COMPANY 4 5.88% $7,388
Ixonia Bank 4 7.03% $8,303
University Bank 4 4.99% $10,230
BAYSHORE MORTGAGE FUNDING, LLC 4 6.63% $12,247
BECKAM FUNDING CORP. 4 7.09% $19,738
AMERICAN FINANCIAL RESOURCES, INC. 4 7.16% $8,867
VERITAS FUNDING, LLC 4 6.47% $14,372
Citizens Bank 4 6.31% $10,233
Waterstone Mortgage Corporation 3 5.96% $11,812
TOTAL MORTGAGE SERVICES, LLC 3 6.46% $8,385
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.75% $10,203
EMBRACE HOME LOANS, INC. 3 5.92% $12,421
SIRVA MORTGAGE, INC. 3 7.33% $9,932
BETTER MORTGAGE CORPORATION 3 6.50% $7,910
Arvest Bank 3 6.46% $12,300
CMG MORTGAGE, INC. 3 7.50% $11,435
TOWNE MORTGAGE COMPANY 3 5.96% $9,359
Wells Fargo Bank 3 6.71% $7,312
Stock Yards Bank & Trust Company 3 6.88% $6,667
NTFN, INC. 2 7.06% $5,677
KELLER MORTGAGE, LLC 2 5.62% $5,746
NATIONS DIRECT MORTGAGE, LLC 2 7.25% $9,227
ALLIED MORTGAGE GROUP, INC. 2 6.75% $11,602
First Savings Bank 2 5.75% $9,374
Flanagan State Bank 2 7.19% $10,561
Allied First Bank,sb 2 7.19% $9,796
HOMESTAR FINANCIAL CORPORATION 2 6.69% $6,195
PREMIA MORTGAGE, LLC 2 6.50% $7,353
PREMIER MORTGAGE RESOURCES, L.L.C. 2 6.19% $16,694
ENVOY MORTGAGE, LTD 2 6.31% $10,312
Bank of America 2 5.94% $7,268
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 7.00% $10,897
FAIR WAY LENDING LLC 2 7.44% $8,833
T2 FINANCIAL LLC 2 6.00% $20,401
First Federal Bank 2 5.50% $11,326
FIRST CENTENNIAL MORTGAGE CORPORATION 2 7.31% $13,214
ARC HOME LLC 2 5.94% $15,570
American Mortgage & Equity Consultants, Inc. 2 7.00% $9,679
ALAMEDA MORTGAGE CORPORATION 2 7.38% $9,994
DIRECT MORTGAGE LOANS, LLC 2 7.06% $11,295
MEMBER FIRST MORTGAGE, LLC 2 7.25% $8,617
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 2 7.19% $10,365
MIDLAND MORTGAGE CORPORATION 2 5.63% $10,665
DEVELOPER'S MORTGAGE COMPANY 2 6.44% $11,155
Encompass Lending Group, LP 1 7.38% $7,735
SECURITYNATIONAL MORTGAGE COMPANY 1 7.25% $10,258
Notre Dame Federal Credit Union Corporation 1 7.13% $7,659
NORWICH COMMERCIAL GROUP, INC. 1 5.13% $7,335
SIWELL, INC. 1 5.25% $8,199
Evolve Bank & Trust 1 7.63% $9,218
CHERRY CREEK MORTGAGE, LLC 1 6.75% $0
Strong Home Mortgage, LLC 1 6.49% $5,347
V.I.P. MORTGAGE, INC. 1 6.25% $16,679
SUMMIT FUNDING, INC. 1 5.75% $16,160
MORTGAGE ACCESS CORP. 1 7.25% $21,567
East Coast Capital Corp. 1 6.63% $18,374
MORTGAGE 1 INCORPORATED 1 5.50% $14,962
German American Bank 1 5.75% $6,936
Magnolia Bank 1 7.25% $6,593
The Loan Store, Inc. 1 7.13% $7,981
NBH Bank 1 6.25% $8,839
AmRes Corporation 1 7.13% $11,082
GUARANTEED RATE AFFINITY, LLC 1 6.18% $12,356
Cincinnati Federal 1 6.13% $6,420
MYCUMORTGAGE, LLC 1 7.00% $8,670
VAN DYK MORTGAGE CORPORATION 1 7.13% $12,691
TruHome Solutions, LLC 1 7.63% $7,415
Truist 1 5.75% $11,649
FLAT BRANCH MORTGAGE, INC. 1 6.25% $15,130
HOMEXPRESS MORTGAGE CORP. 1 7.13% $22,120
Peoples Bank 1 6.75% $6,375
PENTAGON FEDERAL CREDIT UNION 1 5.50% $6,271
INTERNATIONAL CITY MORTGAGE, INC. 1 6.63% $9,766
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.75% $11,182
Goldwater Bank, N.A. 1 5.75% $9,231
MLD MORTGAGE INC. 1 7.50% $7,429
MEMBERS 1ST FEDERAL CREDIT UNION 1 6.25% $7,369
CASTLE & COOKE MORTGAGE, LLC 1 7.88% $10,721
OAKTREE FUNDING CORP. 1 6.25% $7,142
COMPASS MORTGAGE, INC. 1 7.50% $9,223
First National Bank of Omaha 1 6.50% $3,636
RANLIFE, INC. 1 5.75% $9,113
Atlantic Union Bank 1 6.75% $11,319
EVANSVILLE TEACHERS 1 6.75% $6,277
RESIDENTIAL BANCORP 1 6.75% $9,344
Mortgage Assurance Inc. 1 5.50% $13,158

The top Indianapolis FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 719 FHA loans originated. Their average total fees are $9,629, which is $1,679 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Indianapolis FHA lenders (with over 10 loans originated) are PNC Bank ($5,708), Fifth Third Bank ($5,993), JPMorgan Chase Bank ($6,255), Mortgage Research Center, LLC ($6,314) and KeyBank ($6,327).

The lowest rate Indianapolis FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.25%), DHI MORTGAGE COMPANY, LTD. (5.28%), M/I FINANCIAL, LLC (5.59%), PLANET HOME LENDING, LLC (5.83%) and LOANPAL, LLC (5.84%).

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%) $320,291 (15.8%) 0.90 4,220
2018-03-01 $259,900 (26.4%) $334,451 (13.5%) 0.91 4,142
2018-04-01 $278,450 (26.6%) $353,623 (16.6%) 0.94 4,342
2018-05-01 $284,950 (24.7%) $360,680 (15.4%) 0.95 4,761
2018-06-01 $279,900 (19.2%) $354,418 (11.2%) 0.93 5,323
2018-07-01 $272,400 (18.4%) $344,560 (9.1%) 0.91 5,891
2018-08-01 $262,412 (14.4%) $334,846 (7.3%) 0.88 6,154
2018-09-01 $254,900 (12.3%) $329,125 (6.3%) 0.86 6,416
2018-10-01 $244,500 (8.7%) $317,617 (4.1%) 0.83 6,686
2018-11-01 $239,900 (6.6%) $317,595 (3.9%) 0.81 6,402
2018-12-01 $239,900 (7.4%) $313,848 (3.8%) 0.83 5,730
2019-01-01 $242,400 (5.4%) $316,339 (2.5%) 0.84 5,183
2019-02-01 $256,695 (3.7%) $331,687 (3.6%) 0.87 4,839
2019-03-01 $268,037 (3.1%) $347,360 (3.9%) 0.88 4,749
2019-04-01 $277,450 (-0.4%) $356,448 (0.8%) 0.88 4,582
2019-05-01 $282,950 (-0.7%) $360,044 (-0.2%) 0.88 4,954
2019-06-01 $279,900 (0.0%) $354,729 (0.1%) 0.87 5,353
2019-07-01 $279,900 (2.8%) $365,360 (6.0%) 0.88 5,745
2019-08-01 $270,909 (3.2%) $351,488 (5.0%) 0.86 6,034
2019-09-01 $264,773 (3.9%) $340,668 (3.5%) 0.85 6,219
2019-10-01 $260,682 (6.6%) $333,454 (5.0%) 0.84 6,365
2019-11-01 $259,900 (8.3%) $328,517 (3.4%) 0.85 5,983
2019-12-01 $255,750 (6.6%) $326,532 (4.0%) 0.85 5,204
2020-01-01 $264,945 (9.3%) $348,053 (10.0%) 0.89 4,663
2020-02-01 $269,945 (5.2%) $339,364 (2.3%) 0.88 4,079
2020-03-01 $279,495 (4.3%) $345,547 (-0.5%) 0.88 3,854
2020-04-01 $283,835 (2.3%) $342,457 (-3.9%) 0.89 4,059
2020-05-01 $297,500 (5.1%) $361,506 (0.4%) 0.90 3,832
2020-06-01 $299,900 (7.2%) $373,903 (5.4%) 0.88 3,503
2020-07-01 $300,000 (7.2%) $379,874 (4.0%) 0.87 3,358
2020-08-01 $299,500 (10.6%) $374,075 (6.4%) 0.86 3,204
2020-09-01 $285,000 (7.6%) $366,787 (7.7%) 0.82 3,229
2020-10-01 $274,900 (5.5%) $352,050 (5.6%) 0.79 3,341
2020-11-01 $266,091 (2.4%) $341,596 (4.0%) 0.78 3,256
2020-12-01 $259,950 (1.6%) $328,514 (0.6%) 0.77 2,791
2021-01-01 $260,000 (-1.9%) $328,997 (-5.5%) 0.78 2,291
2021-02-01 $267,000 (-1.1%) $343,033 (1.1%) 0.78 1,770
2021-03-01 $271,600 (-2.8%) $353,523 (2.3%) 0.77 1,705
2021-04-01 $274,950 (-3.1%) $364,250 (6.4%) 0.74 1,689
2021-05-01 $275,000 (-7.6%) $368,545 (2.0%) 0.73 1,767
2021-06-01 $275,000 (-8.3%) $372,653 (-0.3%) 0.72 2,013
2021-07-01 $279,900 (-6.7%) $369,976 (-2.6%) 0.74 2,314
2021-08-01 $279,849 (-6.6%) $372,386 (-0.5%) 0.75 2,451
2021-09-01 $280,000 (-1.8%) $374,322 (2.1%) 0.75 2,494
2021-10-01 $275,000 (0.0%) $364,974 (3.7%) 0.73 2,509
2021-11-01 $269,950 (1.5%) $358,081 (4.8%) 0.72 2,315
2021-12-01 $277,250 (6.7%) $364,216 (10.9%) 0.75 1,962
2022-01-01 $279,000 (7.3%) $367,963 (11.8%) 0.75 1,631
2022-02-01 $292,423 (9.5%) $380,455 (10.9%) 0.76 1,382
2022-03-01 $298,950 (10.1%) $394,790 (11.7%) 0.75 1,375
2022-04-01 $299,999 (9.1%) $399,092 (9.6%) 0.72 1,446
2022-05-01 $317,749 (15.6%) $402,147 (9.1%) 0.73 1,975
2022-06-01 $319,950 (16.4%) $407,086 (9.2%) 0.71 2,447
2022-07-01 $324,967 (16.1%) $404,797 (9.4%) 0.73 3,173
2022-08-01 $312,450 (11.7%) $387,593 (4.1%) 0.72 3,405
2022-09-01 $300,000 (7.1%) $381,663 (2.0%) 0.70 3,600
2022-10-01 $299,999 (9.1%) $381,687 (4.6%) 0.71 3,810
2022-11-01 $297,000 (10.0%) $377,207 (5.3%) 0.71 3,864
2022-12-01 $294,900 (6.4%) $376,982 (3.5%) 0.73 3,487
2023-01-01 $289,750 (3.9%) $380,027 (3.3%) 0.72 2,989
2023-02-01 $302,400 (3.4%) $392,917 (3.3%) 0.73 2,572
2023-03-01 $312,675 (4.6%) $408,482 (3.5%) 0.74 2,352
2023-04-01 $329,900 (10.0%) $442,517 (10.9%) 0.77 2,343
2023-05-01 $347,000 (9.2%) $458,814 (14.1%) 0.79 2,593
2023-06-01 $349,913 (9.4%) $456,448 (12.1%) 0.79 2,894
2023-07-01 $347,250 (6.9%) $441,685 (9.1%) 0.79 3,193
2023-08-01 $337,450 (8.0%) $430,272 (11.0%) 0.77 3,415
2023-09-01 $329,900 (10.0%) $417,694 (9.4%) 0.77 3,756
2023-10-01 $319,950 (6.7%) $407,251 (6.7%) 0.75 4,153
2023-11-01 $312,500 (5.2%) $404,419 (7.2%) 0.74 4,184
2023-12-01 $304,900 (3.4%) $401,226 (6.4%) 0.74 3,733
2024-01-01 $310,097 (7.0%) $412,005 (8.4%) 0.76 3,186
2024-02-01 $318,950 (5.5%) $419,898 (6.9%) 0.77 2,889
2024-03-01 $330,000 (5.5%) $428,857 (5.0%) 0.78 2,905
Indianapolis's median listing price for 2024-03-01 was $330,000, a difference of $17,325 (5.5%) versus the prior year and $11,050 versus the prior month.

Indianapolis's median listing price comes in at 78% of the national average.

Indianapolis's average listing price for 2024-03-01 was $428,857, a difference of $20,375 (5.0%) versus the prior year and $8,959 versus the prior month.

For the 2024-03-01 period, Indianapolis had 2,905 MLS listings, a difference of 16 listings (1%) versus the prior month and 553 listings (24%) 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 77 days 2,399 sqft
2018-02-01 71 days 2,437 sqft
2018-03-01 50 days 2,520 sqft
2018-04-01 44 days 2,605 sqft
2018-05-01 37 days 2,659 sqft
2018-06-01 39 days 2,640 sqft
2018-07-01 43 days 2,574 sqft
2018-08-01 46 days 2,521 sqft
2018-09-01 50 days 2,458 sqft
2018-10-01 53 days 2,405 sqft
2018-11-01 57 days 2,365 sqft
2018-12-01 71 days 2,336 sqft
2019-01-01 78 days 2,328 sqft
2019-02-01 78 days 2,395 sqft
2019-03-01 63 days 2,451 sqft
2019-04-01 49 days 2,493 sqft
2019-05-01 43 days 2,537 sqft
2019-06-01 44 days 2,538 sqft
2019-07-01 48 days 2,532 sqft
2019-08-01 48 days 2,466 sqft
2019-09-01 51 days 2,431 sqft
2019-10-01 53 days 2,408 sqft
2019-11-01 59 days 2,374 sqft
2019-12-01 70 days 2,337 sqft
2020-01-01 80 days 2,329 sqft
2020-02-01 81 days 2,320 sqft
2020-03-01 50 days 2,345 sqft
2020-04-01 48 days 2,365 sqft
2020-05-01 54 days 2,400 sqft
2020-06-01 47 days 2,408 sqft
2020-07-01 44 days 2,419 sqft
2020-08-01 44 days 2,387 sqft
2020-09-01 42 days 2,287 sqft
2020-10-01 41 days 2,238 sqft
2020-11-01 48 days 2,153 sqft
2020-12-01 54 days 2,084 sqft
2021-01-01 58 days 2,045 sqft
2021-02-01 52 days 2,030 sqft
2021-03-01 39 days 2,063 sqft
2021-04-01 36 days 2,058 sqft
2021-05-01 34 days 2,059 sqft
2021-06-01 31 days 2,070 sqft
2021-07-01 33 days 2,118 sqft
2021-08-01 33 days 2,110 sqft
2021-09-01 36 days 2,091 sqft
2021-10-01 37 days 2,100 sqft
2021-11-01 40 days 2,074 sqft
2021-12-01 44 days 2,057 sqft
2022-01-01 48 days 2,017 sqft
2022-02-01 37 days 2,001 sqft
2022-03-01 32 days 2,040 sqft
2022-04-01 29 days 2,048 sqft
2022-05-01 25 days 2,111 sqft
2022-06-01 26 days 2,166 sqft
2022-07-01 30 days 2,176 sqft
2022-08-01 36 days 2,127 sqft
2022-09-01 39 days 2,094 sqft
2022-10-01 41 days 2,088 sqft
2022-11-01 45 days 2,088 sqft
2022-12-01 53 days 2,088 sqft
2023-01-01 61 days 2,054 sqft
2023-02-01 59 days 2,096 sqft
2023-03-01 46 days 2,105 sqft
2023-04-01 38 days 2,160 sqft
2023-05-01 36 days 2,216 sqft
2023-06-01 36 days 2,218 sqft
2023-07-01 38 days 2,231 sqft
2023-08-01 36 days 2,194 sqft
2023-09-01 39 days 2,159 sqft
2023-10-01 41 days 2,101 sqft
2023-11-01 46 days 2,069 sqft
2023-12-01 57 days 2,028 sqft
2024-01-01 67 days 2,020 sqft
2024-02-01 59 days 2,027 sqft
2024-03-01 42 days 2,064 sqft
Indianapolis's median listing age (time on market) for 2024-03-01 was 42 days. This is -9% shorter than the same period one year ago.

Indianapolis's median square footage for active listings during the 2024-03-01 period was 2,064 sqft. One year prior, the average listing was 2,105 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).