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 0.09% for the week of 2024-06-21, compared to the national average (all FHA variants) of 0% for the same period.

Indiana's average FHA mortgage closing costs are $6,211.

The average rate for the prior week (2024-06-14) was 6.69% and one month ago for the week of 2024-05-17, the average rate was 7.03%.

The average rate one year ago was 6.72%.

For refis of the same type during the week of 2024-06-21, the average rate was 0.27%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 2,163 6.32% $8,974
RUOFF MORTGAGE COMPANY, INC. 1,363 6.97% $6,013
UNITED WHOLESALE MORTGAGE, LLC 821 6.51% $10,422
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 807 7.06% $7,437
GVC MORTGAGE, INC. 677 7.07% $9,016
NEWREZ LLC 548 6.77% $8,249
FREEDOM MORTGAGE CORPORATION 521 6.85% $10,949
CALIBER HOME LOANS, INC. 403 6.58% $8,043
CROSSCOUNTRY MORTGAGE, LLC 393 6.90% $9,908
LOANDEPOT.COM, LLC 388 6.48% $10,106
VANDERBILT MORTGAGE AND FINANCE, INC. 343 5.99% $12,261
CARDINAL FINANCIAL 331 7.03% $9,070
HALLMARK HOME MORTGAGE, LLC 326 7.02% $9,013
DHI MORTGAGE COMPANY, LTD. 279 5.30% $7,830
EAGLE HOME MORTGAGE, LLC 272 5.26% $10,304
BROKER SOLUTIONS, INC. 255 6.86% $9,786
MORTGAGE MASTERS OF INDIANA, INC. 248 6.78% $6,923
Mr. Cooper ( Nationstar Mortgage ) 244 6.12% $12,188
Fifth Third Bank 242 6.50% $5,465
MJW Financial LLC 239 6.79% $8,962
PENNYMAC LOAN SERVICES, LLC 222 6.26% $9,561
Carrington Mortgage Services, LLC 215 6.28% $10,078
GUARANTEED RATE, INC. 214 6.48% $9,894
AMERISAVE MORTGAGE CORPORATION 199 6.17% $11,890
UNION HOME MORTGAGE CORP. 171 6.98% $8,831
PLAZA HOME MORTGAGE, INC. 166 6.65% $7,703
MOVEMENT MORTGAGE, LLC 161 7.17% $8,246
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 151 7.13% $9,964
The Huntington National Bank 130 6.62% $7,418
MUTUAL OF OMAHA MORTGAGE, INC. 129 6.73% $11,999
FIRST COMMUNITY MORTGAGE, INC. 126 7.12% $9,468
THRIVE MORTGAGE, LLC 126 6.92% $7,260
Northpointe Bank 124 6.74% $8,662
AMERICAN PACIFIC MORTGAGE CORPORATION 117 6.99% $9,843
JPMorgan Chase Bank 115 6.67% $5,718
AMERICAN FINANCIAL NETWORK, INC. 114 7.21% $10,386
DIRECT MORTGAGE LOANS, LLC 114 6.94% $10,805
The Federal Savings Bank 112 6.78% $10,829
Wolfe Financial, Inc 111 7.09% $8,095
STOCKTON MORTGAGE CORPORATION 106 7.08% $8,967
Bank of England 105 6.83% $8,504
LOANPAL, LLC 104 5.96% $10,493
Equity Prime Mortgage LLC 104 6.93% $8,405
GENEVA FINANCIAL, LLC 102 6.98% $9,422
LAKEVIEW LOAN SERVICING, LLC 101 6.19% $9,976
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 101 6.97% $9,623
ENDEAVOR CAPITAL, LLC. 98 6.75% $9,329
Nations Lending Corporation 97 6.90% $7,947
First Merchants Bank 92 7.01% $6,603
Mortgage Research Center, LLC 88 7.03% $5,724
M/I FINANCIAL, LLC 88 5.59% $18,154
First Option Mortgage, LLC 84 6.64% $10,008
Regions Bank 84 6.19% $7,043
Flagstar Bank, FSB 83 6.69% $8,707
Century Mortgage Company DBA Century Lending Company 82 6.61% $8,508
NVR Mortgage Finance, Inc. 79 5.98% $10,874
AmeriHome Mortgage Company, LLC 78 6.65% $9,423
LEADERONE FINANCIAL CORPORATION 75 7.06% $9,142
EVERETT FINANCIAL, INC. 74 7.05% $8,283
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 74 6.60% $9,011
FIRST CENTENNIAL MORTGAGE CORPORATION 68 7.01% $9,019
EVANSVILLE TEACHERS 66 6.65% $5,841
GUILD MORTGAGE COMPANY 62 7.19% $9,230
PRIMELENDING, A PLAINSCAPITAL COMPANY 60 7.05% $8,930
EUSTIS AND AMERICAN MORTGAGE COMPANY 59 7.09% $7,796
TUCKER MORTGAGE, LLC 57 6.81% $7,214
Prosperity Home Mortgage, LLC 56 6.58% $9,938
TEACHERS CREDIT UNION 56 6.58% $6,270
Union Savings Bank 55 6.86% $6,431
Plains Commerce Bank 55 6.69% $9,311
MILESTONE HOME LENDING, LLC 55 7.04% $8,683
CHURCHILL MORTGAGE CORPORATION 55 6.94% $8,203
Horizon Bank 53 6.58% $5,336
First Financial Bank 50 6.61% $6,770
PRIMARY RESIDENTIAL MORTGAGE, INC. 50 6.85% $9,781
PNC Bank 48 6.82% $5,644
TOP FLITE FINANCIAL, INC. 48 6.96% $14,265
Centier Bank 47 7.08% $6,630
ROYAL UNITED MORTGAGE LLC 47 6.82% $10,136
OPEN MORTGAGE, LLC 47 6.98% $8,568
POLARIS HOME FUNDING CORP. 47 6.72% $10,146
AMERICAN PORTFOLIO MORTGAGE CORPORATION 47 6.85% $8,488
University Bank 46 6.20% $10,255
MICHIGAN MUTUAL, INC. 45 6.75% $9,855
FBC MORTGAGE, LLC 45 5.15% $8,502
ZILLOW HOME LOANS, LLC 45 6.67% $8,416
German American Bank 43 6.75% $6,281
Old National Bank 43 6.50% $6,462
VAN DYK MORTGAGE CORPORATION 43 7.05% $6,572
PLANET HOME LENDING, LLC 42 5.92% $9,759
HOMESIDE FINANCIAL, LLC 41 6.72% $9,630
V.I.P. MORTGAGE, INC. 41 7.04% $11,186
Flanagan State Bank 40 6.75% $7,334
INSPIRE HOME LOANS INC. 40 5.51% $8,409
NATIONS RELIABLE LENDING, LLC 39 7.01% $9,859
ACADEMY MORTGAGE CORPORATION 38 6.66% $8,592
FAIR WAY LENDING LLC 38 6.97% $10,399
INTERLINC MORTGAGE SERVICES, LLC 37 6.84% $7,298
DAS Acquisition Company, LLC 36 7.15% $8,955
PULTE MORTGAGE LLC 36 5.94% $8,807
Paramount Residential Mortgage Group, Inc. 36 6.87% $9,485
U.S. Bank 35 6.78% $6,829
Ixonia Bank 35 7.34% $10,450
Notre Dame Federal Credit Union Corporation 34 6.87% $5,851
AMERICAN FINANCIAL RESOURCES, INC. 33 6.91% $8,713
ARK-LA-TEX FINANCIAL SERVICES, LLC. 33 6.91% $8,303
SUCCESS MORTGAGE PARTNERS, INC. 33 6.73% $10,214
AMERICAN FINANCING CORPORATION 32 6.42% $9,913
SUN WEST MORTGAGE COMPANY, INC. 30 6.50% $8,579
KeyBank 30 6.49% $6,757
Loan Simple, Inc. 29 6.90% $11,795
RELIANCE FIRST CAPITAL, LLC 29 6.47% $12,131
HOMEBRIDGE FINANCIAL SERVICES, INC. 28 6.38% $9,865
VILLAGE CAPITAL MORTGAGE 28 6.10% $7,979
FORUM Credit Union 26 6.71% $6,613
Blue Ridge Bank 25 6.74% $6,865
Gateway First Bank 25 6.76% $8,371
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 24 7.08% $8,231
EMM LOANS LLC 24 6.07% $12,078
JLB CORPORATION 24 6.50% $9,766
Magnolia Bank 23 6.25% $10,105
Pacor Mortgage Corp 22 7.01% $9,877
VICTORY MORTGAGE, L.L.C. 22 5.93% $8,296
Advisors Mortgage Group, L.L.C. 22 6.72% $6,963
M&T Bank 21 6.56% $7,722
Wells Fargo Bank 21 6.47% $8,754
American Mortgage & Equity Consultants, Inc. 20 7.07% $8,718
Merchants Bank of Indiana 20 6.91% $6,720
Servion, Inc. 20 6.31% $6,343
OCEANSIDE MORTGAGE COMPANY 20 6.18% $5,369
First Financial Bank 19 7.05% $6,665
MID AMERICA MORTGAGE, INC. 18 7.62% $5,267
Barrington Bank & Trust Company, N.A. 18 6.67% $9,258
GUARANTEED RATE AFFINITY, LLC 18 6.74% $10,740
PHH Mortgage Corporation 18 6.64% $9,044
Elements Financial Federal Credit Union 17 6.92% $7,067
BMO Harris Bank 17 6.89% $5,743
CMG MORTGAGE, INC. 16 7.51% $9,606
MEMBER FIRST MORTGAGE, LLC 16 6.84% $6,518
Citizens Bank 15 6.40% $7,592
LIBERTY HOME MORTGAGE CORPORATION 15 6.81% $13,543
United Fidelity Funding Corp. 14 6.44% $18,815
First Savings Bank 14 6.27% $9,700
1ST SIGNATURE LENDING, LLC 14 6.64% $11,266
WesBanco 13 6.42% $6,662
RAPID MORTGAGE COMPANY 13 6.74% $11,501
LAND HOME FINANCIAL SERVICES, INC. 13 7.17% $12,315
Sierra Pacific Mortgage Company, Inc. 13 6.65% $11,242
INDIANA MEMBERS CREDIT UNION 13 6.47% $7,382
NATIONWIDE MORTGAGE BANKERS, INC. 12 6.55% $7,918
AmRes Corporation 12 6.57% $10,089
BAY EQUITY LLC 12 6.65% $9,303
Stock Yards Bank & Trust Company 12 6.91% $6,478
THE ANDERSON FINANCIAL GROUP, INC. 11 6.73% $7,174
ON Q FINANCIAL, INC. 11 7.16% $8,603
NBKC BANK 11 6.06% $7,219
TJC Mortgage, Inc. 10 7.16% $13,504
OCMBC, INC. 10 7.21% $10,855
DRAPER AND KRAMER MORTGAGE CORP. 10 6.24% $8,196
AMCAP MORTGAGE, LTD. 10 6.88% $8,478
MORTGAGE SOLUTIONS OF COLORADO, LLC 10 6.88% $18,428
1st Source Bank 10 6.93% $6,721
AXIA FINANCIAL, LLC 10 6.94% $9,279
VERITAS FUNDING, LLC 9 6.78% $15,756
EMBRACE HOME LOANS, INC. 9 6.32% $10,429
TOWNE MORTGAGE COMPANY 9 6.36% $8,124
Mortgage Assurance Inc. 9 6.39% $8,112
CIBM Bank 9 6.72% $8,391
First Harrison Bank 9 6.61% $6,206
ENVOY MORTGAGE, LTD 9 6.81% $10,852
TOTAL MORTGAGE SERVICES, LLC 8 6.64% $8,730
NFM, INC. 8 7.03% $8,979
ALLIED MORTGAGE GROUP, INC. 8 6.64% $9,889
PANORAMA MORTGAGE GROUP, LLC 8 6.89% $9,687
T2 FINANCIAL LLC 8 6.67% $11,477
FLAT BRANCH MORTGAGE, INC. 7 6.66% $7,616
PENTAGON FEDERAL CREDIT UNION 7 5.68% $7,095
BAYSHORE MORTGAGE FUNDING, LLC 7 6.93% $10,905
Neighborhood Loans, Inc. 7 7.20% $9,709
MYCUMORTGAGE, LLC 7 7.16% $8,256
COMPASS MORTGAGE, INC. 7 6.79% $10,272
Civista Bank 6 6.90% $7,285
CITY FIRST MORTGAGE SERVICES, L.L.C. 6 7.42% $11,331
GSF Mortgage Corporation 6 6.23% $8,289
PACIFIC RESIDENTIAL MORTGAGE, LLC 6 7.54% $8,407
Peoples Bank 6 6.42% $7,002
CORNERSTONE HOME LENDING, INC. 6 7.15% $7,008
Northwest Bank 5 6.32% $7,133
First Federal Bank 5 6.15% $10,186
UNITED 5 6.93% $8,004
Goldwater Bank, N.A. 5 6.45% $7,372
Arvest Bank 5 6.53% $9,921
PREMIA MORTGAGE, LLC 5 6.53% $7,109
MIDLAND MORTGAGE CORPORATION 5 6.18% $11,183
HOMESTAR FINANCIAL CORPORATION 5 6.98% $5,466
Republic Bank & Trust Company 5 6.63% $6,848
LAKE MORTGAGE COMPANY INC 5 7.08% $8,598
Bank of America 5 6.55% $7,240
BETTER MORTGAGE CORPORATION 4 6.63% $8,043
ARC HOME LLC 4 6.28% $12,534
Residential Mortgage Solutions, Inc. 4 6.50% $11,458
PREMIER MORTGAGE RESOURCES, L.L.C. 4 7.00% $12,890
Truist 4 6.33% $7,185
The State Bank and Trust Company 4 6.69% $7,641
EQUITY RESOURCES, INC. 4 7.38% $6,080
BECKAM FUNDING CORP. 4 7.09% $19,738
Town Square Mortgage & Investments, Inc. 3 7.04% $7,003
SIRVA MORTGAGE, INC. 3 7.33% $9,932
Marquette Bank 3 6.38% $5,680
MLD MORTGAGE INC. 3 7.08% $7,359
Cincinnati Federal 3 6.46% $6,700
RANLIFE, INC. 3 6.00% $8,357
Waterstone Mortgage Corporation 3 5.96% $11,812
ALAMEDA MORTGAGE CORPORATION 3 7.25% $9,670
The Loan Store, Inc. 3 7.17% $8,601
NATIONS DIRECT MORTGAGE, LLC 3 6.92% $9,686
CHERRY CREEK MORTGAGE, LLC 2 6.94% $307
Key Mortgage Services, Inc. 2 6.88% $7,722
KELLER MORTGAGE, LLC 2 5.62% $5,746
LENOX FINANCIAL MORTGAGE CORPORATION 2 6.69% $7,602
INTERNATIONAL CITY MORTGAGE, INC. 2 6.63% $11,092
MORTGAGE 1 INCORPORATED 2 6.25% $11,469
MORTGAGE ACCESS CORP. 2 6.50% $14,982
NEW DAY FINANCIAL, LLC 2 7.75% $5,789
NTFN, INC. 2 7.06% $5,677
Encompass Lending Group, LP 2 7.31% $10,043
East Coast Capital Corp. 2 6.63% $13,945
DEVELOPER'S MORTGAGE COMPANY 2 6.44% $11,155
Colonial Savings, F.A. 2 6.88% $10,721
SOUTHWEST STAGE FUNDING, LLC 2 7.25% $6,667
Strong Home Mortgage, LLC 2 6.50% $5,273
THE MORTGAGE WAREHOUSE,LLC 2 6.63% $9,506
TIB The Independent Bankersbank 2 7.25% $5,684
Atlantic Union Bank 2 6.94% $10,462
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 7.00% $10,897
Allied First Bank,sb 2 7.19% $9,796
AHL FUNDING 2 6.38% $11,402
SOVEREIGN LENDING GROUP INCORPORATED 1 5.38% $11,654
CALCON MUTUAL MORTGAGE LLC 1 6.13% $13,206
Citibank 1 6.75% $6,761
Honor Credit Union 1 6.88% $5,350
BNC National Bank 1 5.25% $10,682
SUMMIT FUNDING, INC. 1 5.75% $16,160
PROPER RATE, LLC 1 5.70% $11,819
SUPERIOR FINANCIAL SOLUTIONS, LLC 1 7.38% $4,797
POINT Mortgage 1 5.63% $9,707
Bell Bank 1 7.25% $9,733
TEXAS TECH 1 7.63% $8,703
CRESCENT MORTGAGE COMPANY 1 7.00% $8,019
CROWN MORTGAGE COMPANY 1 5.50% $10,171
Paramount Bank 1 7.25% $8,118
OAKTREE FUNDING CORP. 1 6.25% $7,142
MEMBERS 1ST FEDERAL CREDIT UNION 1 6.25% $7,369
Evolve Bank & Trust 1 7.63% $9,218
Three Rivers Federal Credit Union 1 5.75% $2,099
NORWICH COMMERCIAL GROUP, INC. 1 5.13% $7,335
INOVA FEDERAL CREDIT UNION 1 6.50% $6,068
Fidelity Bank 1 7.13% $5,962
NORTHERN MORTGAGE SERVICES, LLC 1 6.13% $3,713
FirstBank 1 6.13% $11,049
NETWORK CAPITAL FUNDING CORPORATION 1 7.13% $6,350
NBH Bank 1 6.25% $8,839
TruHome Solutions, LLC 1 7.63% $7,415
First Citizens National Bank 1 6.63% $7,000
First Federal Bank of the Midwest 1 5.63% $7,333
Western Ohio Mortgage Corporation 1 5.25% $3,639
Willamette Valley Bank 1 6.25% $10,229
First National Bank of Omaha 1 6.50% $3,636
United Community Bank 1 6.75% $5,960
MLB RESIDENTIAL LENDING, LLC 1 6.50% $4,873
UNITED SECURITY FINANCIAL CORP 1 7.50% $9,977
Associated Bank 1 5.75% $7,035
GREENSTATE CREDIT UNION 1 5.75% $8,683
Armed Forces Bank 1 7.63% $4,984
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.75% $8,010
Midwest Mortgage Associates Corporation 1 7.13% $11,795
Mid-Continent Funding, Inc. 1 6.75% $4,326
HOMEXPRESS MORTGAGE CORP. 1 7.13% $22,120
Meridian Bank Corporation 1 6.25% $8,922
CIBC Bank USA 1 7.13% $9,514
LAKE MICHIGAN CREDIT UNION 1 6.25% $5,292
SECURITYNATIONAL MORTGAGE COMPANY 1 7.25% $10,258
CASTLE & COOKE MORTGAGE, LLC 1 7.88% $10,721
ROSS MORTGAGE CORPORATION 1 6.50% $13,915
RESIDENTIAL BANCORP 1 6.75% $9,344
SIWELL, INC. 1 5.25% $8,199
INTERCAP LENDING INC. 1 5.50% $10,820

The top Indiana FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 2,163 FHA loans originated. Their average total fees are $8,974, which is $2,961 higher than the next largest lender, RUOFF MORTGAGE COMPANY, INC..

The lowest fee Indiana FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($5,267), Horizon Bank ($5,336), OCEANSIDE MORTGAGE COMPANY ($5,369), Fifth Third Bank ($5,465) and PNC Bank ($5,644).

The lowest rate Indiana FHA lenders (with over 10 loans originated) are FBC MORTGAGE, LLC (5.15%), EAGLE HOME MORTGAGE, LLC (5.26%), DHI MORTGAGE COMPANY, LTD. (5.30%), INSPIRE HOME LOANS INC. (5.51%) and M/I FINANCIAL, LLC (5.59%).

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).