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).