Getting the right mortgage for a Indiana home a little more difficult than you thought? Annoyed with WebPages that don’t help you find what you are looking for? That is why Mortgage-Info.us is here. So if you are looking for lenders, Mortgage Rates, or Mortgage Brokers – we’ve got it. Plus when you fill out a mortgage quote form from Mortgage-Info.us, we will get you offers from 2-4 different lenders, meaning you will be able to choose the rate that you want.
Featured Mortgage Lenders in Indiana
Indiana Mortgage Quick Facts
Indiana State Population: 6,080,485*
Median Indiana Home Price: $94,300*
Indiana Home Ownership Rate: 71.4%*
Types of Mortgage Loans Available in Indiana
- Fixed Rate Loan
- Adjustable Rate Mortgage Loans
- Cash Out
- Home Purchase
- Home Equity Loan
- Special Mortgage Loans
How Your Credit Score Affects Your Mortgage Rate
First you need to know what your current credit score is. You should compare that with the average Indiana consumer credit score which is 676. The average national credit score is 677. Your credit score can impact what your home mortgage rate will be. Historically, home mortgage rates have ranged from 5% to over 13%. Indiana and national mortgage lenders create their home mortgage rates by using the Federal Discount Interest Rate (FDIR) and then raising it by using an internal formula to create their own home mortgage rate. When you apply for a home mortgage, your home mortgage rate will be determined by a whole host of factors, including your credit score.
Indiana Mortgage State Laws
Indiana Loan Broker Act
This law regulates loan brokers working in Indiana.
Some mortgage brokers are exempt from this act.
Indiana Housing Finance Authority (IHFA)
This organization has set aside at least two million dollars to assist Indiana residents with their housing needs. It especially helps people with high down payments.
Judicial foreclosure is the only option in Indiana. After the court declares foreclosure, the property is auctioned off to the highest bidder.
The length of time before the auction can be from three months to one year, but the owner ma file for a waiver that would allow the selling process to begin immediately.
The foreclosure sale must be advertised according to Indiana law.
Indiana allows right to redemption.
Indiana allows deficiency judgment.
Mortgage Fraud Office
White Collar Crime Supervisor
575 N. Pennsylvania Street, Rm 679 FOB
Indianapolis, IN 46204-1585
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This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.