Indiana FHA Loan Rates, Closing Costs & Stats

Indiana

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.

Indiana FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Indiana averaged 6.58% for the week of 2024-03-01, compared to the national average (all FHA variants) of 6.688% for the same period.

Indiana's average FHA mortgage closing costs are $5,832.

The average rate for the prior week (2024-02-23) was 6.37% and one month ago for the week of 2024-01-26, the average rate was 6.16%.

The average rate one year ago was 6.29%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.3%.

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

Indiana 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 Indiana level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 2,459 4.63% $7,992
RUOFF MORTGAGE COMPANY, INC. 2,155 5.37% $5,596
CALIBER HOME LOANS, INC. 1,170 5.03% $7,002
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1,080 5.51% $7,364
FREEDOM MORTGAGE CORPORATION 781 4.94% $8,127
GVC MORTGAGE, INC. 757 5.51% $8,005
UNITED WHOLESALE MORTGAGE, LLC 636 5.00% $7,982
LOANDEPOT.COM, LLC 487 4.92% $8,834
CROSSCOUNTRY MORTGAGE, LLC 442 5.44% $9,208
HALLMARK HOME MORTGAGE, LLC 435 5.43% $8,105
CARDINAL FINANCIAL 408 5.45% $8,757
Mr. Cooper ( Nationstar Mortgage ) 360 4.82% $9,913
MORTGAGE MASTERS OF INDIANA, INC. 314 5.22% $6,613
PENNYMAC LOAN SERVICES, LLC 309 4.30% $7,813
VANDERBILT MORTGAGE AND FINANCE, INC. 301 5.00% $10,530
LAKEVIEW LOAN SERVICING, LLC 278 4.29% $6,515
Carrington Mortgage Services, LLC 278 5.11% $9,208
AMERISAVE MORTGAGE CORPORATION 277 4.72% $9,814
GUARANTEED RATE, INC. 263 5.14% $8,451
BROKER SOLUTIONS, INC. 249 5.27% $9,046
NEWREZ LLC 225 5.02% $7,260
PRIMELENDING, A PLAINSCAPITAL COMPANY 217 5.21% $7,807
HOME POINT FINANCIAL CORPORATION 214 4.72% $7,802
PLAZA HOME MORTGAGE, INC. 212 5.02% $6,052
MJW Financial LLC 209 5.25% $8,072
DHI MORTGAGE COMPANY, LTD. 202 4.42% $8,495
Flagstar Bank, FSB 193 5.07% $7,155
Nations Lending Corporation 183 5.35% $8,677
Fifth Third Bank 181 4.99% $5,194
DIRECT MORTGAGE LOANS, LLC 169 5.18% $10,319
Equity Prime Mortgage LLC 156 5.39% $7,025
The Huntington National Bank 155 4.74% $6,089
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 144 5.29% $8,892
AMERICAN MORTGAGE SERVICE COMPANY 143 4.92% $6,541
EAGLE HOME MORTGAGE, LLC 139 4.74% $10,784
Hometown Lenders, Inc. 139 5.36% $9,273
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 137 5.39% $8,794
EVERETT FINANCIAL, INC. 135 5.74% $5,111
First Option Mortgage, LLC 131 5.23% $11,289
Northpointe Bank 124 5.37% $8,126
JPMorgan Chase Bank 119 5.08% $5,607
UNION HOME MORTGAGE CORP. 117 5.13% $8,038
Bank of England 116 5.24% $8,354
FIRST CENTENNIAL MORTGAGE CORPORATION 107 5.30% $8,035
Wolfe Financial, Inc 100 5.19% $7,332
AMERICAN PACIFIC MORTGAGE CORPORATION 98 5.22% $9,447
GENEVA FINANCIAL, LLC 96 5.68% $8,641
AMERIFIRST FINANCIAL CORPORATION 95 5.62% $8,619
SUCCESS MORTGAGE PARTNERS, INC. 95 4.92% $8,849
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 95 4.98% $8,160
PRIMARY RESIDENTIAL MORTGAGE, INC. 94 5.20% $8,799
The Federal Savings Bank 88 5.24% $8,082
VILLAGE CAPITAL MORTGAGE 87 3.85% $4,945
MOVEMENT MORTGAGE, LLC 85 5.86% $7,610
ACADEMY MORTGAGE CORPORATION 83 5.82% $8,118
Citizens Bank 82 4.32% $7,018
LEADERONE FINANCIAL CORPORATION 80 5.22% $7,787
STOCKTON MORTGAGE CORPORATION 79 5.13% $7,355
EUSTIS AND AMERICAN MORTGAGE COMPANY 78 5.36% $8,568
TOP FLITE FINANCIAL, INC. 77 5.24% $13,650
NVR Mortgage Finance, Inc. 76 4.32% $12,956
PNC Bank 76 4.35% $5,007
Centier Bank 73 5.28% $6,620
Regions Bank 71 5.20% $6,096
JLB CORPORATION 71 4.64% $7,668
Century Mortgage Company DBA Century Lending Company 68 4.92% $7,226
MUTUAL OF OMAHA MORTGAGE, INC. 65 5.21% $9,788
Mortgage Research Center, LLC 63 5.57% $5,343
POLARIS HOME FUNDING CORP. 63 5.39% $9,738
FAIR WAY LENDING LLC 58 5.11% $8,225
OPEN MORTGAGE, LLC 58 5.32% $8,360
EVANSVILLE TEACHERS 58 4.97% $5,687
TUCKER MORTGAGE, LLC 58 5.17% $7,018
AMERICAN FINANCING CORPORATION 57 4.75% $8,236
HOMESIDE FINANCIAL, LLC 56 5.18% $8,352
Horizon Bank 54 5.31% $5,937
ROYAL UNITED MORTGAGE LLC 53 5.25% $8,989
FINANCE OF AMERICA MORTGAGE LLC 53 4.87% $8,617
Gateway First Bank 51 5.52% $7,291
VAN DYK MORTGAGE CORPORATION 50 5.09% $5,468
Old National Bank 50 5.52% $5,615
V.I.P. MORTGAGE, INC. 49 5.26% $10,078
German American Bank 48 5.02% $5,848
HOMEBRIDGE FINANCIAL SERVICES, INC. 47 4.71% $7,979
PLANET HOME LENDING, LLC 47 4.26% $6,454
LOANPAL, LLC 46 4.77% $10,749
MID AMERICA MORTGAGE, INC. 46 5.23% $4,558
First Merchants Bank 45 5.19% $6,430
AMERICAN PORTFOLIO MORTGAGE CORPORATION 45 5.24% $7,773
Union Savings Bank 45 5.22% $5,689
M/I FINANCIAL, LLC 45 4.75% $12,278
NATIONS RELIABLE LENDING, LLC 44 5.47% $8,402
INTERLINC MORTGAGE SERVICES, LLC 43 5.18% $6,953
Loan Simple, Inc. 41 5.74% $10,626
Notre Dame Federal Credit Union Corporation 41 5.21% $5,574
FIRST COMMUNITY MORTGAGE, INC. 40 6.71% $8,889
AmeriHome Mortgage Company, LLC 38 5.17% $8,181
CMG MORTGAGE, INC. 38 4.71% $6,806
First Financial Bank 37 5.16% $5,931
VICTORY MORTGAGE, L.L.C. 37 4.69% $8,563
MICHIGAN MUTUAL, INC. 36 4.95% $7,264
FBC MORTGAGE, LLC 36 4.90% $8,471
RELIANCE FIRST CAPITAL, LLC 35 4.99% $9,450
M&T Bank 34 4.49% $7,607
Plains Commerce Bank 33 5.49% $8,232
MILESTONE HOME LENDING, LLC 33 4.79% $7,977
PANORAMA MORTGAGE GROUP, LLC 32 5.50% $9,139
UNIVERSITY LENDING GROUP, LLC 32 4.52% $8,144
CHURCHILL MORTGAGE CORPORATION 32 6.32% $8,053
DAS Acquisition Company, LLC 31 5.59% $8,054
Paramount Residential Mortgage Group, Inc. 30 4.99% $8,141
TEACHERS CREDIT UNION 30 5.27% $7,096
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 29 5.47% $8,541
First Savings Bank 29 4.93% $8,480
The Home Loan Expert LLC 29 5.08% $8,426
ZILLOW HOME LOANS, LLC 29 5.35% $8,165
SUN WEST MORTGAGE COMPANY, INC. 28 4.93% $8,137
AMERICAN FINANCIAL RESOURCES, INC. 28 5.21% $6,618
PULTE MORTGAGE LLC 27 4.70% $7,632
Flanagan State Bank 26 5.46% $8,409
Barrington Bank & Trust Company, N.A. 26 5.37% $7,526
Elements Financial Federal Credit Union 26 4.72% $7,368
1ST SIGNATURE LENDING, LLC 26 5.18% $9,857
SOUTHWEST FUNDING, LP 26 5.11% $8,056
Sierra Pacific Mortgage Company, Inc. 26 5.26% $8,014
1st Source Bank 26 5.13% $5,848
EMM LOANS LLC 25 4.91% $11,004
Wells Fargo Bank 24 4.84% $7,298
ENDEAVOR CAPITAL, LLC. 23 5.18% $8,301
THRIVE MORTGAGE, LLC 23 5.10% $5,918
Blue Ridge Bank 23 4.90% $7,358
Magnolia Bank 23 5.56% $9,752
OCEANSIDE MORTGAGE COMPANY 22 4.57% $4,355
FORUM Credit Union 22 4.70% $6,493
BMO Harris Bank 22 5.74% $6,613
INSPIRE HOME LOANS INC. 22 5.36% $8,556
ARK-LA-TEX FINANCIAL SERVICES, LLC. 21 4.61% $8,542
First Harrison Bank 21 4.70% $6,411
AMCAP MORTGAGE, LTD. 21 5.59% $8,263
First Guaranty Mortgage Corporation 20 4.03% $7,609
MEMBER FIRST MORTGAGE, LLC 20 5.38% $6,941
RAPID MORTGAGE COMPANY 20 5.12% $11,200
First Financial Bank 20 5.44% $8,157
DRAPER AND KRAMER MORTGAGE CORP. 18 5.10% $7,009
BAYSHORE MORTGAGE FUNDING, LLC 17 5.38% $9,590
U.S. Bank 17 5.00% $7,355
LIBERTY HOME MORTGAGE CORPORATION 17 5.51% $11,922
MYCUMORTGAGE, LLC 17 5.21% $4,749
KeyBank 16 4.27% $6,302
INDIANA MEMBERS CREDIT UNION 16 4.96% $6,418
GUARANTEED RATE AFFINITY, LLC 16 5.05% $7,529
Neighborhood Loans, Inc. 15 5.47% $9,222
UNITED MORTGAGE CORP 15 4.01% $8,156
NATIONWIDE MORTGAGE BANKERS, INC. 15 5.03% $9,525
GSF Mortgage Corporation 14 5.24% $10,477
ENVOY MORTGAGE, LTD 14 5.00% $7,370
NFM, INC. 14 5.81% $9,114
CHERRY CREEK MORTGAGE, LLC 14 5.78% $3,961
University Bank 14 6.02% $9,650
First Internet Bank of Indiana 14 4.93% $6,115
Prosperity Home Mortgage, LLC 13 5.47% $7,499
Servion, Inc. 13 4.62% $6,499
LAND HOME FINANCIAL SERVICES, INC. 12 5.47% $8,374
MIDLAND MORTGAGE CORPORATION 12 4.86% $7,089
PHH Mortgage Corporation 12 5.27% $7,894
WINTERWOOD MORTGAGE GROUP, LLC 12 5.17% $71,256
Wyndham Capital Mortgage, Inc. 11 4.63% $7,854
GUARANTY HOME MORTGAGE CORPORATION 11 4.78% $6,567
AmRes Corporation 11 5.00% $8,634
UNITED 11 5.99% $7,782
Mortgage Assurance Inc. 11 4.77% $6,830
Northwest Bank 10 4.98% $5,723
BAY EQUITY LLC 10 4.57% $7,965
LAKE MORTGAGE COMPANY INC 10 4.84% $6,931
COMPASS MORTGAGE, INC. 10 5.33% $8,312
First Home Bank 9 4.82% $8,702
EMBRACE HOME LOANS, INC. 9 6.11% $8,737
RESIDENTIAL BANCORP 8 5.42% $10,192
THE ANDERSON FINANCIAL GROUP, INC. 8 6.28% $6,849
Merchants Bank of Indiana 8 5.36% $7,004
Stock Yards Bank & Trust Company 8 5.20% $8,330
Advisors Mortgage Group, L.L.C. 8 5.63% $6,005
FLAT BRANCH MORTGAGE, INC. 8 5.30% $7,261
Cornerstone First Mortgage, Inc 8 4.94% $8,538
SOVEREIGN LENDING GROUP INCORPORATED 7 5.00% $10,635
Peoples Bank 7 5.52% $14,748
T2 FINANCIAL LLC 7 5.45% $11,198
OCMBC, INC. 7 5.07% $7,913
KELLER MORTGAGE, LLC 7 4.20% $9,204
ALLIED MORTGAGE GROUP, INC. 7 5.29% $13,673
Colten Mortgage, LLC 7 4.36% $5,957
Bank of America 7 4.93% $6,213
Waterstone Mortgage Corporation 6 4.85% $10,584
MORTGAGE SOLUTIONS OF COLORADO, LLC 6 4.19% $14,937
CIBC Bank USA 6 4.75% $7,328
CITY FIRST MORTGAGE SERVICES, L.L.C. 6 6.71% $8,932
Pacor Mortgage Corp 6 4.98% $7,843
MORIA DEVELOPMENT, INC. 6 5.17% $11,207
NBKC BANK 6 4.48% $7,948
Republic Bank & Trust Company 6 4.15% $5,713
United Fidelity Funding Corp. 6 5.42% $16,252
The State Bank and Trust Company 5 4.95% $6,291
LOANFLIGHT LENDING, LLC 5 4.93% $7,995
Austin Capital Bank SSB 5 6.35% $8,422
MORTGAGE 1 INCORPORATED 5 5.75% $7,587
NATIONS DIRECT MORTGAGE, LLC 5 5.17% $10,346
NETWORK CAPITAL FUNDING CORPORATION 5 4.50% $8,741
NEW DAY FINANCIAL, LLC 5 4.93% $7,164
Texana Bank 5 3.88% $7,966
NORWICH COMMERCIAL GROUP, INC. 5 5.43% $7,275
BETTER MORTGAGE CORPORATION 5 4.00% $9,156
CITYWIDE HOME LOANS, LLC 5 5.43% $8,537
PROPER RATE, LLC 5 5.15% $8,907
HOMESTAR FINANCIAL CORPORATION 5 5.33% $6,052
BNC National Bank 4 4.44% $7,031
North American Savings Bank, F.S.B. 4 5.78% $8,861
Residential Mortgage Solutions, Inc. 4 4.94% $10,137
INLANTA MORTGAGE, INC. 4 5.50% $7,534
HANCOCK MORTGAGE PARTNERS, LLC 4 5.34% $9,170
INOVA FEDERAL CREDIT UNION 4 5.69% $4,749
STEARNS LENDING, LLC 4 3.84% $6,212
CIBM Bank 4 5.37% $6,995
SOUTHWEST STAGE FUNDING, LLC 4 4.78% $8,283
PREMIA MORTGAGE, LLC 4 5.50% $5,559
VERITAS FUNDING, LLC 4 5.34% $13,511
CROWN MORTGAGE COMPANY 4 5.13% $9,034
WesBanco 3 4.33% $6,117
Willamette Valley Bank 3 4.83% $9,622
Strong Home Mortgage, LLC 3 5.04% $3,003
S1L, Inc. 3 5.71% $7,932
SOUTH CENTRAL BANK, INC. 3 5.21% $6,096
FirstBank 3 4.33% $6,017
PENTAGON FEDERAL CREDIT UNION 3 4.50% $5,558
American Mortgage & Equity Consultants, Inc. 3 4.79% $5,641
NP, Inc. 3 4.29% $9,416
CRESCENT MORTGAGE COMPANY 3 4.54% $6,207
GUILD MORTGAGE COMPANY 2 3.88% $8,437
HOMESTEAD FUNDING CORP. 2 4.63% $9,213
Hometown Equity Mortgage, LLC 2 7.00% $8,381
INLAND BANK & TRUST 2 4.69% $4,061
Ixonia Bank 2 4.13% $5,722
Lend Smart Mortgage, LLC 2 6.19% $7,918
Marquette Bank 2 4.88% $7,239
Mercantile Bank of Michigan 2 4.88% $7,643
FIRST EQUITY MORTGAGE INCORPORATED 2 4.19% $9,481
MORTGAGE ACCESS CORP. 2 6.13% $6,405
Paramount Bank 2 6.44% $6,698
Civista Bank 2 3.94% $4,337
CASTLE & COOKE MORTGAGE, LLC 2 5.13% $10,280
SECURITYNATIONAL MORTGAGE COMPANY 2 5.44% $7,710
THE MORTGAGE WAREHOUSE,LLC 2 5.31% $7,409
The Union Bank Company 2 3.88% $8,477
Associated Bank 2 5.69% $5,450
ARC HOME LLC 2 6.38% $15,424
Amerifirst Financial, Inc. 2 3.50% $5,618
SIRVA MORTGAGE, INC. 1 3.63% $3,842
Cincinnati Federal 1 4.75% $7,512
Platinum Home Mortgage Corporation 1 5.75% $12,815
CityWorth Mortgage LLC 1 4.75% $9,567
Peoples Bank 1 5.75% $4,571
Peoples Bank 1 6.25% $10,107
BEST CAPITAL FUNDING 1 4.25% $10,401
Commerce Home Mortgage, Inc. 1 5.13% $10,319
Commonwealth Bank and Trust Company 1 3.00% $5,646
BECKAM FUNDING CORP. 1 4.38% $11,952
SUMMIT FUNDING, INC. 1 4.88% $9,914
Sunflower Bank 1 5.63% $7,965
NOVA FINANCIAL & INVESTMENT CORPORATION 1 5.49% $631
DATA MORTGAGE, INC. 1 6.63% $4,834
NORTHERN MORTGAGE SERVICES, LLC 1 5.25% $9,777
DEVELOPER'S MORTGAGE COMPANY 1 6.63% $10,527
EQUITY RESOURCES, INC. 1 6.50% $13,385
Bank of Colorado 1 3.50% $6,962
FAY SERVICING, LLC 1 5.25% $10,694
AXIA FINANCIAL, LLC 1 4.63% $9,554
THE MORTGAGE FIRM, INC. 1 6.75% $15,374
GERSHMAN INVESTMENT CORP. 1 4.25% $6,346
Fidelity Bank 1 5.25% $5,739
Home State Bank 1 3.99% $6,811
First Federal Bank 1 6.13% $9,240
First Federal Bank of the Midwest 1 4.13% $10,633
TOWNE MORTGAGE COMPANY 1 6.25% $7,018
Truist 1 6.50% $8,838
AHL FUNDING 1 5.63% $11,493
Arvest Bank 1 6.88% $5,745
Midwest Mortgage Associates Corporation 1 5.25% $4,176
Midwest Community Bank 1 3.13% $8,680
United Community Bank 1 6.88% $10,917
Midland States Bank 1 6.13% $8,274
First Federal Savings Bank 1 5.63% $5,315
UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 5.75% $9,097
UNITED SECURITY FINANCIAL CORP 1 4.88% $20,190
Goldwater Bank, N.A. 1 7.25% $9,742
Meridian Bank Corporation 1 5.75% $12,714
ANGEL OAK HOME LOANS LLC 1 5.63% $6,167
Low VA Rates, LLC 1 3.75% $8,987
LENOX FINANCIAL MORTGAGE CORPORATION 1 3.75% $6,898
HAMILTON HOME LOANS, INC. 1 4.63% $7,015
First Midwest Bank 1 3.50% $6,542
LAKE MICHIGAN CREDIT UNION 1 3.00% $8,150
Key Mortgage Services, Inc. 1 7.25% $12,883
Firstrust Savings Bank 1 5.63% $9,894
Watermark Capital, Inc. 1 5.13% $7,572
First State Bank of St. Charles, Missouri 1 4.63% $6,666
IMPAC MORTGAGE CORP. 1 5.25% $7,042
RiverHills Bank 1 5.00% $9,890
Renasant Bank 1 5.63% $9,407
HOMEXPRESS MORTGAGE CORP. 1 6.13% $8,305
Chicago Financial Services, Inc. 1 4.99% $5,539
Shamrock Home Loans, Inc. 1 3.75% $8,237
BLUELEAF LENDING, LLC 1 5.00% $6,027

The top Indiana FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 2,459 FHA loans originated. Their average total fees are $7,992, which is $2,396 higher than the next largest lender, RUOFF MORTGAGE COMPANY, INC..

The lowest fee Indiana FHA lenders (with over 10 loans originated) are CHERRY CREEK MORTGAGE, LLC ($3,961), OCEANSIDE MORTGAGE COMPANY ($4,355), MID AMERICA MORTGAGE, INC. ($4,558), MYCUMORTGAGE, LLC ($4,749) and VILLAGE CAPITAL MORTGAGE ($4,945).

The lowest rate Indiana FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (3.85%), UNITED MORTGAGE CORP (4.01%), First Guaranty Mortgage Corporation (4.03%), PLANET HOME LENDING, LLC (4.26%) and KeyBank (4.27%).

Indiana FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
DECATUR, IN ADAMS 2022 $420,680 $538,650 $651,050 $809,150
FORT WAYNE, IN ALLEN 2022 $420,680 $538,650 $651,050 $809,150
COLUMBUS, IN BARTHOLOMEW 2022 $420,680 $538,650 $651,050 $809,150
LAFAYETTE-WEST LAFAYETTE, IN BENTON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO BLACKFORD 2022 $420,680 $538,650 $651,050 $809,150
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
LAFAYETTE-WEST LAFAYETTE, IN CARROLL 2022 $420,680 $538,650 $651,050 $809,150
LOGANSPORT, IN CASS 2022 $420,680 $538,650 $651,050 $809,150
LOUISVILLE/JEFFERSON COUNTY, KY-IN CLARK 2022 $420,680 $538,650 $651,050 $809,150
TERRE HAUTE, IN CLAY 2022 $420,680 $538,650 $651,050 $809,150
FRANKFORT, IN CLINTON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CRAWFORD 2022 $420,680 $538,650 $651,050 $809,150
WASHINGTON, IN DAVIESS 2022 $420,680 $538,650 $651,050 $809,150
CINCINNATI, OH-KY-IN DEARBORN 2022 $420,680 $538,650 $651,050 $809,150
GREENSBURG, IN DECATUR 2022 $420,680 $538,650 $651,050 $809,150
AUBURN, IN DEKALB 2022 $420,680 $538,650 $651,050 $809,150
MUNCIE, IN DELAWARE 2022 $420,680 $538,650 $651,050 $809,150
JASPER, IN DUBOIS 2022 $420,680 $538,650 $651,050 $809,150
ELKHART-GOSHEN, IN ELKHART 2022 $420,680 $538,650 $651,050 $809,150
CONNERSVILLE, IN FAYETTE 2022 $420,680 $538,650 $651,050 $809,150
LOUISVILLE/JEFFERSON COUNTY, KY-IN FLOYD 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO FOUNTAIN 2022 $420,680 $538,650 $651,050 $809,150
CINCINNATI, OH-KY-IN FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO FULTON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO GIBSON 2022 $420,680 $538,650 $651,050 $809,150
MARION, IN GRANT 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO GREENE 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
LOUISVILLE/JEFFERSON COUNTY, KY-IN HARRISON 2022 $420,680 $538,650 $651,050 $809,150
INDIANAPOLIS-CARMEL-ANDERSON, IN HENDRICKS 2022 $420,680 $538,650 $651,050 $809,150
NEW CASTLE, IN HENRY 2022 $420,680 $538,650 $651,050 $809,150
KOKOMO, IN HOWARD 2022 $420,680 $538,650 $651,050 $809,150
HUNTINGTON, IN HUNTINGTON 2022 $420,680 $538,650 $651,050 $809,150
SEYMOUR, IN JACKSON 2022 $420,680 $538,650 $651,050 $809,150
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI JASPER 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO JAY 2022 $420,680 $538,650 $651,050 $809,150
MADISON, IN JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
NORTH VERNON, IN JENNINGS 2022 $420,680 $538,650 $651,050 $809,150
INDIANAPOLIS-CARMEL-ANDERSON, IN JOHNSON 2022 $420,680 $538,650 $651,050 $809,150
VINCENNES, IN KNOX 2022 $420,680 $538,650 $651,050 $809,150
WARSAW, IN KOSCIUSKO 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO LAGRANGE 2022 $420,680 $538,650 $651,050 $809,150
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI LAKE 2022 $420,680 $538,650 $651,050 $809,150
MICHIGAN CITY-LA PORTE, IN LAPORTE 2022 $420,680 $538,650 $651,050 $809,150
BEDFORD, IN LAWRENCE 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
PLYMOUTH, IN MARSHALL 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO MARTIN 2022 $420,680 $538,650 $651,050 $809,150
PERU, IN MIAMI 2022 $420,680 $538,650 $651,050 $809,150
BLOOMINGTON, IN MONROE 2022 $420,680 $538,650 $651,050 $809,150
CRAWFORDSVILLE, IN MONTGOMERY 2022 $420,680 $538,650 $651,050 $809,150
INDIANAPOLIS-CARMEL-ANDERSON, IN MORGAN 2022 $420,680 $538,650 $651,050 $809,150
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI NEWTON 2022 $420,680 $538,650 $651,050 $809,150
KENDALLVILLE, IN NOBLE 2022 $420,680 $538,650 $651,050 $809,150
CINCINNATI, OH-KY-IN OHIO 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO ORANGE 2022 $420,680 $538,650 $651,050 $809,150
BLOOMINGTON, IN OWEN 2022 $420,680 $538,650 $651,050 $809,150
TERRE HAUTE, IN PARKE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO PERRY 2022 $420,680 $538,650 $651,050 $809,150
JASPER, IN PIKE 2022 $420,680 $538,650 $651,050 $809,150
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI PORTER 2022 $420,680 $538,650 $651,050 $809,150
EVANSVILLE, IN-KY POSEY 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO PULASKI 2022 $420,680 $538,650 $651,050 $809,150
INDIANAPOLIS-CARMEL-ANDERSON, IN PUTNAM 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO RANDOLPH 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO RIPLEY 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO RUSH 2022 $420,680 $538,650 $651,050 $809,150
SOUTH BEND-MISHAWAKA, IN-MI ST. JOSEPH 2022 $420,680 $538,650 $651,050 $809,150
SCOTTSBURG, IN SCOTT 2022 $420,680 $538,650 $651,050 $809,150
INDIANAPOLIS-CARMEL-ANDERSON, IN SHELBY 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO SPENCER 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO STARKE 2022 $420,680 $538,650 $651,050 $809,150
ANGOLA, IN STEUBEN 2022 $420,680 $538,650 $651,050 $809,150
TERRE HAUTE, IN SULLIVAN 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO SWITZERLAND 2022 $420,680 $538,650 $651,050 $809,150
LAFAYETTE-WEST LAFAYETTE, IN TIPPECANOE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO TIPTON 2022 $420,680 $538,650 $651,050 $809,150
CINCINNATI, OH-KY-IN UNION 2022 $420,680 $538,650 $651,050 $809,150
EVANSVILLE, IN-KY VANDERBURGH 2022 $420,680 $538,650 $651,050 $809,150
TERRE HAUTE, IN VERMILLION 2022 $420,680 $538,650 $651,050 $809,150
TERRE HAUTE, IN VIGO 2022 $420,680 $538,650 $651,050 $809,150
WABASH, IN WABASH 2022 $420,680 $538,650 $651,050 $809,150
LAFAYETTE-WEST LAFAYETTE, IN WARREN 2022 $420,680 $538,650 $651,050 $809,150
EVANSVILLE, IN-KY WARRICK 2022 $420,680 $538,650 $651,050 $809,150
LOUISVILLE/JEFFERSON COUNTY, KY-IN WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
RICHMOND, IN WAYNE 2022 $420,680 $538,650 $651,050 $809,150
BLUFFTON, IN WELLS 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO WHITE 2022 $420,680 $538,650 $651,050 $809,150
FORT WAYNE, IN WHITLEY 2022 $420,680 $538,650 $651,050 $809,150
DECATUR, IN ADAMS 2023 $472,030 $604,400 $730,525 $907,900
FORT WAYNE, IN ALLEN 2023 $472,030 $604,400 $730,525 $907,900
COLUMBUS, IN BARTHOLOMEW 2023 $472,030 $604,400 $730,525 $907,900
LAFAYETTE-WEST LAFAYETTE, IN BENTON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO BLACKFORD 2023 $472,030 $604,400 $730,525 $907,900
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
LAFAYETTE-WEST LAFAYETTE, IN CARROLL 2023 $472,030 $604,400 $730,525 $907,900
LOGANSPORT, IN CASS 2023 $472,030 $604,400 $730,525 $907,900
LOUISVILLE/JEFFERSON COUNTY, KY-IN CLARK 2023 $472,030 $604,400 $730,525 $907,900
TERRE HAUTE, IN CLAY 2023 $472,030 $604,400 $730,525 $907,900
FRANKFORT, IN CLINTON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CRAWFORD 2023 $472,030 $604,400 $730,525 $907,900
WASHINGTON, IN DAVIESS 2023 $472,030 $604,400 $730,525 $907,900
CINCINNATI, OH-KY-IN DEARBORN 2023 $472,030 $604,400 $730,525 $907,900
GREENSBURG, IN DECATUR 2023 $472,030 $604,400 $730,525 $907,900
AUBURN, IN DEKALB 2023 $472,030 $604,400 $730,525 $907,900
MUNCIE, IN DELAWARE 2023 $472,030 $604,400 $730,525 $907,900
JASPER, IN DUBOIS 2023 $472,030 $604,400 $730,525 $907,900
ELKHART-GOSHEN, IN ELKHART 2023 $472,030 $604,400 $730,525 $907,900
CONNERSVILLE, IN FAYETTE 2023 $472,030 $604,400 $730,525 $907,900
LOUISVILLE/JEFFERSON COUNTY, KY-IN FLOYD 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO FOUNTAIN 2023 $472,030 $604,400 $730,525 $907,900
CINCINNATI, OH-KY-IN FRANKLIN 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO FULTON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO GIBSON 2023 $472,030 $604,400 $730,525 $907,900
MARION, IN GRANT 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO GREENE 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
LOUISVILLE/JEFFERSON COUNTY, KY-IN HARRISON 2023 $472,030 $604,400 $730,525 $907,900
INDIANAPOLIS-CARMEL-ANDERSON, IN HENDRICKS 2023 $472,030 $604,400 $730,525 $907,900
NEW CASTLE, IN HENRY 2023 $472,030 $604,400 $730,525 $907,900
KOKOMO, IN HOWARD 2023 $472,030 $604,400 $730,525 $907,900
HUNTINGTON, IN HUNTINGTON 2023 $472,030 $604,400 $730,525 $907,900
SEYMOUR, IN JACKSON 2023 $472,030 $604,400 $730,525 $907,900
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI JASPER 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO JAY 2023 $472,030 $604,400 $730,525 $907,900
MADISON, IN JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
NORTH VERNON, IN JENNINGS 2023 $472,030 $604,400 $730,525 $907,900
INDIANAPOLIS-CARMEL-ANDERSON, IN JOHNSON 2023 $472,030 $604,400 $730,525 $907,900
VINCENNES, IN KNOX 2023 $472,030 $604,400 $730,525 $907,900
WARSAW, IN KOSCIUSKO 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO LAGRANGE 2023 $472,030 $604,400 $730,525 $907,900
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI LAKE 2023 $472,030 $604,400 $730,525 $907,900
MICHIGAN CITY-LA PORTE, IN LAPORTE 2023 $472,030 $604,400 $730,525 $907,900
BEDFORD, IN LAWRENCE 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
PLYMOUTH, IN MARSHALL 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO MARTIN 2023 $472,030 $604,400 $730,525 $907,900
PERU, IN MIAMI 2023 $472,030 $604,400 $730,525 $907,900
BLOOMINGTON, IN MONROE 2023 $472,030 $604,400 $730,525 $907,900
CRAWFORDSVILLE, IN MONTGOMERY 2023 $472,030 $604,400 $730,525 $907,900
INDIANAPOLIS-CARMEL-ANDERSON, IN MORGAN 2023 $472,030 $604,400 $730,525 $907,900
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI NEWTON 2023 $472,030 $604,400 $730,525 $907,900
KENDALLVILLE, IN NOBLE 2023 $472,030 $604,400 $730,525 $907,900
CINCINNATI, OH-KY-IN OHIO 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO ORANGE 2023 $472,030 $604,400 $730,525 $907,900
BLOOMINGTON, IN OWEN 2023 $472,030 $604,400 $730,525 $907,900
TERRE HAUTE, IN PARKE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO PERRY 2023 $472,030 $604,400 $730,525 $907,900
JASPER, IN PIKE 2023 $472,030 $604,400 $730,525 $907,900
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI PORTER 2023 $472,030 $604,400 $730,525 $907,900
EVANSVILLE, IN-KY POSEY 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO PULASKI 2023 $472,030 $604,400 $730,525 $907,900
INDIANAPOLIS-CARMEL-ANDERSON, IN PUTNAM 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO RANDOLPH 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO RIPLEY 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO RUSH 2023 $472,030 $604,400 $730,525 $907,900
SOUTH BEND-MISHAWAKA, IN-MI ST. JOSEPH 2023 $472,030 $604,400 $730,525 $907,900
SCOTTSBURG, IN SCOTT 2023 $472,030 $604,400 $730,525 $907,900
INDIANAPOLIS-CARMEL-ANDERSON, IN SHELBY 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO SPENCER 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO STARKE 2023 $472,030 $604,400 $730,525 $907,900
ANGOLA, IN STEUBEN 2023 $472,030 $604,400 $730,525 $907,900
TERRE HAUTE, IN SULLIVAN 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO SWITZERLAND 2023 $472,030 $604,400 $730,525 $907,900
LAFAYETTE-WEST LAFAYETTE, IN TIPPECANOE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO TIPTON 2023 $472,030 $604,400 $730,525 $907,900
CINCINNATI, OH-KY-IN UNION 2023 $472,030 $604,400 $730,525 $907,900
EVANSVILLE, IN-KY VANDERBURGH 2023 $472,030 $604,400 $730,525 $907,900
TERRE HAUTE, IN VERMILLION 2023 $472,030 $604,400 $730,525 $907,900
TERRE HAUTE, IN VIGO 2023 $472,030 $604,400 $730,525 $907,900
WABASH, IN WABASH 2023 $472,030 $604,400 $730,525 $907,900
LAFAYETTE-WEST LAFAYETTE, IN WARREN 2023 $472,030 $604,400 $730,525 $907,900
EVANSVILLE, IN-KY WARRICK 2023 $472,030 $604,400 $730,525 $907,900
LOUISVILLE/JEFFERSON COUNTY, KY-IN WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900
RICHMOND, IN WAYNE 2023 $472,030 $604,400 $730,525 $907,900
BLUFFTON, IN WELLS 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO WHITE 2023 $472,030 $604,400 $730,525 $907,900
FORT WAYNE, IN WHITLEY 2023 $472,030 $604,400 $730,525 $907,900

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).