Mortgage rates
Current mortgage rates · week of June 11, 2026
| Week | 30-yr / 15-yr fixed |
| June 11, 2026 | 6.52% / 5.84% |
| June 4, 2026 | 6.48% / 5.79% |
| May 28, 2026 | 6.53% / 5.87% |
| May 21, 2026 | 6.51% / 5.85% |
| May 14, 2026 | 6.36% / 5.71% |
| May 7, 2026 | 6.37% / 5.72% |
| April 30, 2026 | 6.30% / 5.64% |
| April 23, 2026 | 6.23% / 5.58% |
U.S. weekly averages — Freddie Mac Primary Mortgage Market Survey via FRED.
Indiana Mortgage Overview
If you live in the Hoosier State, you're among 6.7 million people. The median home price in Indiana is an affordable $275,000 and almost 70 percent of the homes are owner-occupied. Indiana offers many first-time homebuyer programs, making it easy to go from renting to homeownership with support.
Indiana FHA loans
The Indiana FHA loan is a low down payment program for borrowers with less than perfect credit. You need just a 580 credit score and a 3.5 percent down payment to qualify. If you have a credit score between 500 - 579, you can still get a loan, but with a 10 percent down payment. The FHA underwriting guidelines are flexible and easy for first-time homebuyers.
Indiana VA loans
Veterans of the military enjoy the benefits of a 100 percent loan program from the VA. With no down payment and only 620 credit score requirements, it's easy for veterans to secure the financing they need to become homeowners.
Indiana USDA loans
Borrowers who don't qualify for either of the above government loans may be eligible for an Indiana USDA loan. The program doesn't require a down payment and has flexible underwriting guidelines. All you need is a 640 credit score and income that's less than 115 percent of the average for the area to be eligible.
Indiana conventional loans
If you have good credit and at least 3 percent to put down on a home, you may qualify for a conventional loan. You need a 660 credit score and a decent debt-to-income ratio. Conventional loans have tougher guidelines, but if you qualify, you only pay PMI until you owe less than 80 percent of the home's value.
First-Time Homebuyer Programs in Indiana
First Place Program
Eligible applicants receive down payment assistance of up to 6 percent of the sales price and an FHA 30-year fixed-rate loan. You need at least a credit score of 640 if your debt ratio is less than 45 percent or 680 credit score with a debt ratio of 50 percent.
Next Home
Eligible applicants receive down payment assistance of up to 3.5 percent and an FHA 30-year fixed-rate loan. Like the First Place Program, you need a minimum 640 credit score with a 45 percent debt ratio and 680 credit score with a 50 percent debt ratio.
Mortgage Credit Certificate
The Mortgage Credit Certificate gives first-time homebuyers a tax credit for the interest they pay on their mortgage (up to $2,000) per year.