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The average home value in Indiana is $242,672, up 4.0% over the past year. Learn more about the Indiana housing market and real estate trends.
Use this free Indiana mortgage calculator to estimate your monthly mortgage payments and annual amortization.
Sep 22, 2021 · According to estimates from Zillow, a Seattle-based real estate data company, the value of a typical single-family home in Indiana is $191,054, lower than the national average.
- Contributor
Prices for Housing, 1967-2024 ($100,000) According to the U.S. Bureau of Labor Statistics, prices for housing are 981.16% higher in 2024 versus 1967 (a $981,163.42 difference in value). Between 1967 and 2024: Housing experienced an average inflation rate of 4.26% per year.
- Average Closing Costs in Indiana
- Does The Buyer Or Seller Pay Closing Costs in Indiana?
- Ongoing Costs of Homeownership in Indiana
- Top Ways to Save Money When Buying A House in Indiana
- Methodology
Buyer closing costs in Indiana
While the other costs to buy a house in Indiana are pretty transparent, Indiana closing costs are a bit more nuanced. They're actually a series of smaller costs lumped together into one total. Here's a breakdown of all of the Indiana closing costsyou'll likely pay when buying a home.
The seller typically pays the bulk of the closing costs in Indiana. The seller is responsible for costs like title insurance, real estate transfer tax, and recording fees. The seller also pays their listing agent. 1. Traditionally, the seller set the fee they were willing to pay a buyer's agent. 2. In August 2024, a lawsuit against the National Ass...
Unfortunately, the cost to buy a house is just the beginning. After closing, you'll officially own the home and begin paying for the ongoing costs of homeownership. Besides the expenses outlined above, you'll also want to consider private mortgage insurance (PMI) and homeowner's association (HOA) fees. 1. If you pay less than 20% as a down payment ...
1. Look into better financing options
Paying off debts and getting your credit in the best shape possible before applying for a loan will help you get a better interest rate, which will lower your monthly payments for the life of the loan. You can also shop around to compare lenders so you get the lowest fees and interest rates available. It may be a good idea to enlist the help of a mortgage broker if you're not sure how to go about vetting lenders.
2. Participate in home buyer programs in Indiana
Indiana has several statewide home buyer programs available — the Indiana Housing and Community Development Authority (IHCDA)alone has three: 1. The First Place Program (For first-time buyers) 2. The Next Home Program (For first-time and repeat buyers) 3. Mortgage Credit Certificate (For first-time buyer, qualified veterans, or those buying in a target area) Eligible buyers may also look into the US Department of Agriculture's (USDA) rural development program. It offers mortgage loans with re...
3. Partner with an expert agent
Some real estate companies, like Clever, offer home buyers a percentage of their home's price back after the sale finalizes. That means if you work with a Clever agent, you'll not only get the expertise that helps you get the best deal possible — you could also get up to 0.5% of your home price back after closing!
The Clever team of researchers gathered data for property taxes, transfer taxes, and recording fees using publicly available information. We found average costs for attorney fees, title insurance, and other services by requesting quotes from local providers. Home values are based onZillowdata as of July 2024.
- $101
- $1,276
- $202
- Varies but averages $169 statewide
Use our simple mortgage calculator to quickly estimate monthly payments for your new home. This free mortgage tool includes principal and interest, plus estimated taxes, insurance, PMI and current mortgage rates.
4 days ago · The table below is updated daily with Indiana mortgage rates for the most common types of home loans. Compare week-over-week changes to mortgage rates and APRs in Indiana. The APR includes both the interest rate and lender fees for a more realistic value comparison.
