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Compare Current Fort Wayne, Indiana Mortgage Rates
Compare Fort Wayne, IN mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Fort Wayne.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Fort Wayne. Plus, shopping lenders is free and there is no obligation.
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Fort Wayne, IN Mortgage Rates as of November 28, 2024
Loan terms assume conforming mortgage amount on single family residence, 80% LTV ratio and minimum borrower credit score of 740. $150,000 minimum mortgage amount. Borrower is responsible for $1,055 lender fee. Loan terms are subject to change without notice.
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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's Fort Wayne, IN Mortgage Rates
November 28, 2024
Current mortgage rates in Fort Wayne, IN are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)
Mortgage Program
Today's Fort Wayne, IN Rates
National Average
Comparison
30 Year Fixed Rate
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6.670%
15 Year Fixed Rate
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5.960%
5/1 Adjustable Rate Mortgage
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6.250%
How Affordable is Housing in Fort Wayne, Indiana?
Below we provide helpful information on the real estate market, home prices and housing affordability in Fort Wayne. Understand how much you need to earn to afford a home in Fort Wayne, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Fort Wayne fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Fort Wayne is right for you.
The median home value for Fort Wayne, IN (Allen County) is $193,281
Based on current mortgage rates and a 10% down payment, you need to make $40,321 per year to buy the median priced home in Fort Wayne
With this income, you could qualify for a $173,952 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Fort Wayne is $934
The median household income for Fort Wayne, IN (Allen County) is $63,455
Based on this income, you can afford a home valued at approximately $304,172
The home price you can afford to buy based on household income in Fort Wayne is 157% of the median home value which means housing prices are average.
Fort Wayne (Allen County) ranks 72 out of 92 counties in Indiana and 1,684 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Fort Wayne, IN is average
Loan Limits for Fort Wayne, Indiana
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Fort Wayne (Allen County) below.
Conforming loan limits for Fort Wayne, IN
1 unit:$726,200
2 units:$929,850
3 units:$1,123,900
4 units:$1,396,800
FHA loan limits for Fort Wayne, IN
1 unit:$472,030
2 units:$604,400
3 units:$730,525
4 units:$907,900
VA loan limits for Fort Wayne, IN
1 unit:$726,200
Additional Mortgage Resources for Fort Wayne, IN Residents