Current Indianapolis Mortgage Rates
View the most current Indianapolis mortgage rates and how much they have changed since yesterday.
Get the most up-to-date Indianapolis mortgage rates for 30 Year Fixed, 15 Year Fixed, and 5/1 ARM below. Click "View Trend" to view the changes in Indianapolis mortgage rates over the past couple months.
Bookmark this page! We update our Indianapolis mortgage rates daily.
Please keep in mind that YOUR Indianapolis mortgage rates can be higher or lower than the current Indianapolis mortgage rates.
Things That Can Affect Your Mortgage Rate
First of all, here are four major things that can affect your Indianapolis mortgage rates.
- the size of your loan
- the type of your loan
- your credit score
- your loan-to-value ratio
Another thing that can affect your Indianapolis mortgage rate is whether you are purchasing a new home or if you are refinancing your current mortgage.
Don’t Go It Alone!
Because there are so many variables to take into consideration, it is literally impossible for you to accurately predict what your actual mortgage rate will be. That’s what WE are here for!
Our job is to take a look at your situation and match you with a lender and a customized mortgage solution that fits right for YOU.
We have many different ways you can get started.
Call Us Today
We’re just a phone call away! Call us now at 317-207-4435.
Contact Us Online
Click here to contact us online, or you can also email us at firstname.lastname@example.org.
Pre-Qualify Online Now
We can help you more if you fill out a very brief Pre-Qualification form online. This is just a few basic questions that will allow us to get a good idea of what type of loan would work best for you. Click here to Pre-Qualify online!
Full Online Mortgage Application
If you’re ready to go and you have all the required documents in order, you can fill out the full mortgage application online! Click here to apply online now.
About Indianapolis Mortgage Rates
Indianapolis mortgage rates are the current interest rates available on a loan that you use to buy real estate. There are lots of different kinds of mortgages. Here’s a few of the most common types of mortgages and a little more information about them.
Fixed Rate Indianapolis Mortgages
A Fixed Rate mortgage will have the same interest rate over the entire life of your loan, so you know it will not go up or down.
An Adjustable Rate mortgage means that your interest rate will go up and down during the life of your loan. The change in your Adjustable Rate mortgage will be based on all the other current Indianapolis mortgage rates, as well as how much money your loan is for and how long you have left until your loan is paid off.
Because Indianapolis mortgage rates are constantly changing, its good to consider refinancing every few years. Refinancing your mortgage means you will entirely pay off your original mortgage, and then replace your old mortgage with a new mortgage. Your new mortgage will usually have a lower monthly payment, lower interest rate, etc.
How Refinancing Works
It’s usually easier to refinance than it is to get your first mortgage. You also may have a good amount of equity if you have owned your home for a while. This can make refinancing even easier!
How to Refinance
There are many different ways to refinance your loan, and the Indianapolis mortgage rates are literally changing every day. Refinancing can be complicated and it’s best to have an expert in your corner to guide you through the process.
Even one mistake or overlooked item could cost you thousands in the long run.
That’s what we’re here for! We’ve been helping our clients find the best customized refinancing loans for over 30 years combined.
Veterans VA Loan
We also specialize in Guaranteed VA Loans. The USA guarantees VA Loans for all qualifying veterans. Jim is a veteran himself and he has a passion for helping you get your Guaranteed VA Loan.
VA Loan Benefits
- No Down Payment
- No Private Mortgage Insurance
- Low Monthly Payments
Who is Eligible for a VA Loan?
- Active-duty personnel
- Reserve members
- National Guard members
- Some surviving spouses
We also specialize in Physician Loans for professionals and doctors. This program offers great benefits for both new and established doctors and professionals.
Who qualifies for the Physician Loan Program?
- Licensed Medical Residents
- Doctor of Osteopathy
Physician Loan Program Benefits
- Low or zero down payment
- No Private Mortgage Insurance payments
- School loans not a problem
3 Questions To Ask Yourself If You’re Thinking About Buying Your Own Home
If you’re thinking about buying a home, it’s easy for the important things to get lost in the shuffle. Before you go any further down the road to buying a home, you should definitely ask yourself these 3 quick questions. The answers could save you thousands of dollars and keep you from buying something you don’t really want or even need.
These 3 simple questions will allow you to figure out if right now is a good time for you to buy a house!
1. Why do I want to buy a home?
This is definitely the first and most important question that you should ask yourself if you’re considering getting a new home. Don’t think about your credit history or your finances at all right now. Ask yourself this question:
What made me think about buying a home?
You might be surprised to learn that the answer actually doesn’t have anything to do with money. Most people have more important reasons when they set out to purchase a home.
Harvard University did a study to find out the reasons that people begin to look for a new home. Here’s the top four reasons that people give for buying a home, and none of them involve money! The top four reasons people buy a home are:
- You need a better place to raise your children that has a good education system
- You need a safer neighborhood for yourself or your family
- You need more living space for yourself or your family
- You need to have more control over your housing space
What about you? Try to come up with a reason that doesn’t involve money. While money may be a factor, it is usually not the overall deciding factor. There’s something else that you’re looking for in a home besides the cheapest house on the block, and finding out what that is should be the deciding factor in whether or not you choose to purchase a home.
2. Are home values increasing or decreasing?
It’s important to look at the housing market trends and see where their values are heading in the future. The reason this is important is because if you buy at the wrong time, you will end up paying more money for the same house.
For example, say you wanted to buy a $250,000 house. If you wait a year, that same house could cost an extra $10,000 or more. You will also need to put down a larger downpayment than you would have had to if you had bought the house at the right time.
3. Are mortgage rates going up or down in the future?
It’s not just about the price of the home. You also have to think about the overall long term cost of the home. If mortgage rates go up even by a tiny amount, that could actually cost you a lot of money in the long run.
We understand that the home buying process can be stressful enough to begin with - that’s why we’re here to help! We are mortgage experts, and we can take care of all of this for you. Just give us a call or use our contact form to get started today!
5 Financial Bonuses You Get When You Buy A Home
According to Eric Belsky at Harvard University, there are 5 big financial benefits that come along with owning your own home. If you aren’t already taking advantage of these, then now is the time to start!
- You can leverage your housing investment for equity. Many homeowners do not want to borrow money so they can invest in stocks or bonds, and even if a homeowner wants to borrow money to invest in stocks and bonds there aren’t many lenders out there who will lend money to homeowners like this. What owning your home does is it lets you amplify the appreciation value of your home by a leverage factor. Say you put 20 percent down on your home. This would come out to a leverage factor of 5. That means that each percentage point rise in your home’s value equals a 5% return on your equity. Many home buyers do not put 20% down. Say you put 10% down on your home, or less. That gives you a leverage factor of 10 or more!
- You’re paying someone else’s mortgage if you’re renting. If you own your own home, you’re working to pay down your own principal amount that you owe on your home. If you are renting, you’re working to pay down the principal amount that your landlord owes on the property you’re renting. Why not spend your money paying off your own home instead of someone else’s?
- Owning forces you to save money. A lot of people find it difficult to put aside money into savings on a regular basis. What Eric Belsky at Harvard University found is that by owning your own home, it helps you also overcome the natural tendency to put off savings until another time. In short, owning your own home gives you a more responsible spending habit.
- Huge tax bonuses for homeowners. If you own your home, you can deduct your mortgage interest payments from what you owe the government for your taxes. You can also write off all your property taxes, as well. Not only that, but all capital gains up to $250,000 are not counted on your income if you’re single and you sell your home for a profit. Married households can keep up to $500,000 if you make a profit selling your home.
- Owning helps protect you from inflation. The trend is that costs of housing and costs of renting usually increases to the same amount or higher than the current cost of inflation. So owning your home can protect you from the rising costs of inflation.
The bottom line is this: Owning your own home can help you and your family save a lot of money in the long run.
Buying A Home Costs 36% Less Than Renting
Trulia reports that right now it’s about 36% cheaper for you to own your own home than it is to rent a home or apartment. This is based on a standard 30-year mortgage on a fixed rate. Some areas are cheaper than others to live in, but the overall savings across the USA is that you will save 36% more money by owning your home than if you’re renting.
Here’s some more interesting facts about home ownership:
- Indianapolis mortgage rates have stayed on the low side despite the fact that the prices for homes have appreciated recently; but home prices have not gotten higher than the appreciation of rental properties
- It’s true that there are some housing markets that may tip the scale in favor of renting vs buying, but only if home prices begin to go up more than rental properties, and if the mortgage rates go up as well
- However, mortgage rates would have to go up over 10% to make it cheaper to rent than it is to buy; we have not seen rates go this high since the end of the 1980’s!
Right now it makes more sense financially for you to buy your own home than to rent. If you’re currently renting right now and you’d like to find out if you’ll be able to buy a home this coming year, contact us today and we will help you figure out what the best thing is for you to do to get you moved into the home of your dreams!
Why choose us?
When you work with us, you get something you won’t find elsewhere. We honestly respect you and want what’s best for you. We will never let you buy a home or sign up for a mortgage that you cannot afford.
We understand that good business is what makes our community grow stronger. We have been in the local community for decades fostering relationships and helping our community grow.
We believe that every person and every family has the right to a sound mind when buying or selling their home. Jim DeCamp has personally been scammed on a mortgage and he know how that feels.
That is actually how Jim got into the mortgage industry. A local mortgage broker sold Jim a home with a terrible mortgage. The broker was just interested in making a commission and not interested in helping Jim and his family achieve a home loan that was right for them.
Now Jim helps individuals and families around the Indianapolis area secure the right home and the right mortgage to go along with it. You should never lose sleep wondering if you will be able to afford your mortgage payment.
If you are stuck in a bad mortgage loan, or you want to look into getting a brand new home mortgage loan, Jim and Susan are here to help you. Just fill out the brief contact form or call now to learn what your options are.
You can also use our website to pre-qualify online. That will help speed things up and let Jim and Susan know what types of loans you might be eligible for.
Jim and Susan have access to hundreds of different lenders. That’s another great thing about using Jim and Susan to handle your mortgage. Other mortgage loan officers may only have a handful of lenders to choose from. This damages your ability to get the absolute best loan possible.
With hundreds of different lenders to choose from, Jim & Susan can help you choose which lender will offer you the best rates and terms. Instead of forcing you into one of a few cookie-cutter loan programs, Jim & Susan can literally create a personalized mortgage loan just for you and your circumstances.
If you’ve been putting off refinancing your current mortgage, now is the time to look into getting a better deal! Let Jim & Susan do all the heavy lifting to get you the best deals - that’s their job!
No matter what type of loan you’re looking for, Jim & Susan can help you get the best one in Indianapolis. There are many, many different home loan programs out there and there is no reason why you should be stuck picking one that you do not like.
It’s always worth your time to play the field and see what your options are. The mortgage industry changes every day, and it’s important to have someone in your corner who is watching these changes and will help you navigate and review your options. Give us a call today!
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