Elkhart, Indiana Mortgage Rates - October 2026
Brian McKay
Brian McKay
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Elkhart, Indiana mortgage rates range from 5.62% to 8.75%, verified by MonitorBankRates as of October 23, 2026. Current mortgage rates in Elkhart, Indiana include Old National BankOld National Bank320 N Main St, Elkhart, IN, 46516A+5.0 ★Texas Ratio: 4.98%Rate verified Oct 20, 2026 at 7.125%, Inova Federal Credit UnionInova Federal Credit Union358 S Elkhart Ave, Elkhart, IN, 46514A5.0 ★Texas Ratio: 8.94%Rate verified Oct 20, 2026 at 7.25%, Key BankKey Bank138 W Hively Ave, Elkhart, IN, 46514A+5.0 ★Texas Ratio: 4.81%Rate verified Oct 20, 2026 at 7.25%, Lake City BankLake City Bank1206 N Nappanee St, Elkhart, IN, 46514A+5.0 ★Texas Ratio: 2.66%Rate verified Oct 22, 2026 at 7.875%, and Advance Financial Federal Credit UnionAdvance Financial Federal Credit UnionA+5.0 ★Texas Ratio: 2.82%Rate verified Oct 23, 2026 at 5.625%. Mortgage rates as of October 23, 2026 according to verified data from MonitorBankRates.
Elkhart borrowers can compare 140 mortgage rates from 32 lenders serving the Indiana area, including 4 local, with rates as low as 6.13% from Inova Federal Credit Union at 358 S Elkhart Ave, Elkhart, IN, 46514. Use the tabs below to compare all available loan types and terms. Rates are continually updated, so we recommend checking back frequently.
Mortgage Rates reflect actual verified offers from lenders actively lending to Indiana borrowers. Your final approved rate will depend on your credit profile, loan-to-value ratio, and daily market movements. Last Updated and Verified: October 23, 2026
Compare Mortgage Rates Today in Elkhart, Indiana & the Surrounding Area
Elkhart 30 Year Fixed Mortgage Rates
Construction loan; Principal & Interest Payment $1,549.55; Credit score 740 or higher; LTV 80% (20% down payment); Loan amount of $230,000; One-time close construction; 1-year construction phase followed by fully amortizing 30-year permanent phase; 90-day lock; Finance charges include $1,350 origination fee, $6.70 flood certification fee and $72 tax service fee; Purchase rate for sample homebuyer; Rates effective 10/19/2026 are for sample purposes only and subject to change
- Oct 20, 20267.19%▼ from 7.31%
- Sep 27, 20267.31%▲ from 7.06%
- Sep 15, 20267.06%first recorded
No additional details available.
- Oct 20, 20267.29%▼ from 7.66%
- Oct 1, 20267.66%▲ from 7.02%
- Sep 24, 20267.02%▲ from 6.13%
- Sep 15, 20266.13%first recorded
States: NY; Rate/term refinance; $250,000 conforming loan, owner-occupied, max 75% LTV, 740+ FICO, 60-day lock; includes 0.25% relationship/autopay discount; updated October 2, 2026
Purchase; Current Mortgage Rates; advertised rates effective 10/19/2026
- Oct 20, 20267.43%▲ from 7.30%
- Sep 15, 20267.30%first recorded
Conventional Fixed-Rate Mortgage; Credit score 780 or higher; LTV 80% (20% down); Loan amount $230,000; Purchase, owner occupied single family; 45-day lock; Principal & Interest Payment $1,588.55; Sample rates effective 10/19/2026
No additional details available.
- Oct 20, 20267.55%▼ from 7.80%
- Oct 1, 20267.80%▲ from 7.19%
- Sep 24, 20267.19%▲ from 6.39%
- Sep 15, 20266.39%first recorded
Refinance; advertised rates effective as of 10/19/2026
States: AK, CO, ID, IN, MA, MI, OH, OR, PA, UT, VT, WA; Rate/term refinance; $250,000 conforming loan, owner-occupied, max 75% LTV, 740+ FICO, 60-day lock; includes 0.25% relationship/autopay discount; updated October 2, 2026
States: ME; Rate/term refinance; $250,000 conforming loan, owner-occupied, max 75% LTV, 740+ FICO, 60-day lock; includes 0.25% relationship/autopay discount; updated October 2, 2026
No Closing Cost
- Oct 20, 20267.66%▼ from 7.92%
- Oct 1, 20267.92%▲ from 7.40%
- Sep 27, 20267.40%▲ from 7.28%
- Sep 24, 20267.28%▲ from 6.39%
Principal & Interest Payment: $1,201.15; Purchase, owner occupied single family; assumes credit score 680 or higher, LTV 100%, 45-day lock
- Oct 20, 20267.67%▲ from 7.54%
- Oct 14, 20267.54%▼ from 7.92%
- Oct 7, 20267.92%▲ from 7.54%
- Oct 1, 20267.54%▲ from 7.42%
FHA
- Oct 20, 20267.69%▼ from 8.07%
- Oct 1, 20268.07%▲ from 7.42%
- Sep 27, 20267.42%▲ from 6.78%
- Sep 15, 20266.78%first recorded
No additional details available.
No Closing Cost; FHA
- Oct 20, 20268.06%▼ from 8.33%
- Oct 1, 20268.33%▲ from 7.81%
- Sep 27, 20267.81%▲ from 7.04%
- Sep 15, 20267.04%first recorded
Principal & Interest Payment: $1,179.99
- Oct 20, 20269.57%▲ from 9.57%
- Sep 27, 20269.57%▲ from 9.26%
- Sep 24, 20269.26%▲ from 8.96%
- Sep 15, 20268.96%first recorded
As Low As; Competitive 30-Year Fixed Mortgage Rates starting at 5.625%
Homepage banner: New Fixed Rate Mortgage! 5.75%/ 5.848% APR*
As Low As; Real Estate Loan Rates; Effective 10/1/2026
- Oct 10, 20266.24%▲ from 5.49%
- Sep 18, 20265.49%first recorded
APR as low as; Discount: 0.00%; No discount points; Mortgage loans assume $150,000 inclusive of loan fees
Purchase rate; available to credit scores 780+ and 75% LTV; based on Indiana property
- Oct 23, 20267.04%▼ from 7.29%
- Oct 13, 20267.29%first recorded
As Low As; Lock in peace of mind for the long haul. A 30-year mortgage means lower monthly payments and lasting security.
- Oct 14, 20267.13%▼ from 7.25%
- Oct 1, 20267.25%▲ from 7.13%
- Sep 27, 20267.13%▲ from 7.00%
- Sep 22, 20267.00%▲ from 6.88%
Interest rate and APR available to borrowers with credit scores 780 or greater and 100% LTV; based on Indiana property
- Oct 23, 20267.23%▼ from 7.36%
- Oct 15, 20267.36%first recorded
No additional details available.
- Oct 23, 20267.23%▼ from 7.36%
- Oct 15, 20267.36%first recorded
Owner-occupied single-family residences; effective October 19, 2026; subject to credit score & loan-to-value
- Oct 21, 20267.27%▼ from 7.52%
- Oct 11, 20267.52%▼ from 7.65%
- Oct 7, 20267.65%▲ from 7.40%
- Oct 3, 20267.40%▼ from 7.52%
Purchase; example monthly payment $1,680.08
Refinance
- Oct 23, 20267.29%▼ from 7.42%
- Oct 15, 20267.42%first recorded
Payment is based on a $240,000 loan at 80% loan-to-value, purchase of a single-family residence; Interest Only Term: 0 Months
- Oct 19, 20267.32%▲ from 7.07%
- Sep 18, 20267.07%first recorded
Owner-occupied single-family residences; effective October 19, 2026; subject to credit score & loan-to-value
- Oct 21, 20267.35%▼ from 7.60%
- Oct 11, 20267.60%▼ from 7.72%
- Oct 7, 20267.72%▲ from 7.47%
- Oct 3, 20267.47%▼ from 7.60%
Owner-occupied single-family residences; effective October 19, 2026; subject to credit score & loan-to-value
- Oct 21, 20267.42%▼ from 7.67%
- Oct 11, 20267.67%▼ from 7.92%
- Oct 7, 20267.92%▲ from 7.55%
- Oct 3, 20267.55%▼ from 7.67%
1-point option; APR assumes 20% down and $200,000 loan; PMI required for LTV 80.01% or higher
rates last updated 10/19/2026
Mortgage; posted rates as of 10/22/2026
No additional details available.
Rates available to borrowers with credit scores 780 or greater and 100% LTV, on loans secured by Indiana property
APR based on $60,000 loan amount
Mortgage Rates effective as of 10/19/2026; Interest rate 7.375%, APR 7.529%; assumes $100,000 loan amount and $125,000 estimated property value; no escrow account for taxes and insurance
- Oct 22, 20267.53%▼ from 7.65%
- Oct 7, 20267.65%▲ from 7.15%
- Sep 24, 20267.15%first recorded
0-point option; APR assumes 20% down and $200,000 loan; PMI required for LTV 80.01% or higher
APR equals Annual Percentage Rate; rates subject to change without notice
Conforming and Government; Effective Date: Thursday, October 22nd, 2026
- Oct 23, 20267.70%▼ from 7.83%
- Oct 15, 20267.83%▼ from 8.08%
- Oct 8, 20268.08%▲ from 7.83%
- Oct 2, 20267.83%▲ from 7.70%
No additional details available.
P & I: $707.79
- Oct 20, 20267.73%▼ from 7.99%
- Oct 1, 20267.99%▲ from 7.73%
- Sep 27, 20267.73%▲ from 7.61%
- Sep 24, 20267.61%▲ from 7.48%
FTHB loan; APR based on $60,000 loan amount; minimum loan $30,000, maximum $832,750; maximum purchase transaction 97% LTV; PMI not required
- Oct 23, 20268.66%▼ from 8.91%
- Oct 12, 20268.91%first recorded
Maximum Term: 30 Years; Payment: $1169.20; Maximum LTV 90%; LTVs above 80% require PMI
- Oct 1, 20268.67%▲ from 8.29%
- Sep 24, 20268.29%▲ from 8.12%
- Sep 16, 20268.12%first recorded
Elkhart 15 Year Fixed Mortgage Rates
States: CT; Rate/term refinance; $250,000 conforming loan, owner-occupied, max 75% LTV, 740+ FICO, 60-day lock; includes 0.25% relationship/autopay discount; updated October 2, 2026
No additional details available.
- Oct 20, 20266.81%▼ from 7.12%
- Oct 1, 20267.12%▲ from 6.74%
- Sep 27, 20266.74%▲ from 5.73%
- Sep 15, 20265.73%first recorded
States: AK, CO, ID, IN, MA, MI, OH, OR, PA, UT, VT, WA; Rate/term refinance; $250,000 conforming loan, owner-occupied, max 75% LTV, 740+ FICO, 60-day lock; includes 0.25% relationship/autopay discount; updated October 2, 2026
States: ME; Rate/term refinance; $250,000 conforming loan, owner-occupied, max 75% LTV, 740+ FICO, 60-day lock; includes 0.25% relationship/autopay discount; updated October 2, 2026
Purchase; Current Mortgage Rates; advertised rates effective 10/19/2026
- Oct 20, 20267.08%▲ from 6.71%
- Sep 15, 20266.71%first recorded
Conventional Fixed-Rate Mortgage; Credit score 780 or higher; LTV 80% (20% down); Loan amount $230,000; Purchase, owner occupied single family; 45-day lock; Principal & Interest Payment $2,067.31; Sample rates effective 10/19/2026
Refinance; advertised rates effective as of 10/19/2026
No Closing Cost
- Oct 20, 20267.18%▼ from 7.32%
- Oct 1, 20267.32%▲ from 7.12%
- Sep 27, 20267.12%▲ from 5.98%
- Sep 15, 20265.98%first recorded
FHA
- Oct 20, 20267.34%▼ from 7.65%
- Oct 1, 20267.65%▲ from 7.27%
- Sep 27, 20267.27%▲ from 6.38%
- Sep 15, 20266.38%first recorded
No additional details available.
No Closing Cost; FHA
- Oct 20, 20267.71%▼ from 7.85%
- Oct 1, 20267.85%▲ from 7.65%
- Sep 27, 20267.65%▲ from 6.63%
- Sep 15, 20266.63%first recorded
As Low As; Get peace of mind with predictable monthly payments. Both traditional and short-term options available.
- Oct 19, 20266.38%▼ from 6.50%
- Sep 27, 20266.50%▲ from 6.25%
- Sep 18, 20266.25%▲ from 6.13%
- Sep 14, 20266.13%first recorded
APR as low as; Discount: 0.00%; No discount points; Mortgage loans assume $150,000 inclusive of loan fees
Payment is based on a $240,000 loan at 80% loan-to-value, purchase of a single-family residence; Interest Only Term: 0 Months
- Oct 19, 20266.70%▼ from 6.83%
- Sep 27, 20266.83%first recorded
Purchase; example monthly payment $2,176.40
Purchase rate; available to credit scores 780+ and 75% LTV; based on Indiana property
- Oct 23, 20266.82%▼ from 6.94%
- Oct 13, 20266.94%first recorded
Refinance
- Oct 23, 20266.82%▼ from 7.19%
- Oct 15, 20267.19%▲ from 6.94%
- Oct 13, 20266.94%first recorded
No additional details available.
rates last updated 10/19/2026
Mortgage Rates effective as of 10/19/2026; Interest rate 6.750%, APR 6.991%; assumes $100,000 loan amount and $125,000 estimated property value; no escrow account for taxes and insurance
- Oct 22, 20266.99%▼ from 7.11%
- Oct 7, 20267.11%▲ from 6.86%
- Sep 24, 20266.86%first recorded
As Low As; Actual APR based on credit, loan amount, term and prepaid items; Click to apply; Page lists term as 0 M
As Low As; Actual APR based on credit, loan amount, term and prepaid items; Click to apply; Page lists term as 0 M
Mortgage; Current posted rates as of 10/22/2026
- Oct 22, 20267.02%▼ from 7.52%
- Oct 14, 20267.52%first recorded
Posted rates as of 10/22/2026 8:30 AM Eastern Time
Interest rate and APR available to borrowers with credit scores 780 or greater and 100% LTV; based on Indiana property
- Oct 23, 20267.10%▲ from 6.72%
- Sep 21, 20266.72%first recorded
No additional details available.
- Oct 23, 20267.10%▲ from 6.72%
- Sep 21, 20266.72%first recorded
APR based on $60,000 loan amount
1-point option; APR assumes 20% down and $200,000 loan; PMI required for LTV 80.01% or higher
APR equals Annual Percentage Rate; rates subject to change without notice
0-point option; APR assumes 20% down and $200,000 loan; PMI required for LTV 80.01% or higher
P & I: $905.83
- Oct 21, 20267.30%▲ from 7.17%
- Oct 20, 20267.17%▼ from 7.30%
- Oct 11, 20267.30%▲ from 7.17%
- Oct 3, 20267.17%▼ from 7.30%
Conforming and Government; Effective Date: Thursday, October 22nd, 2026
- Oct 23, 20267.32%▼ from 7.80%
- Oct 8, 20267.80%▲ from 7.32%
- Oct 4, 20267.32%▼ from 7.80%
- Oct 2, 20267.80%▲ from 7.32%
Private Banking Professional Mortgage Rate; rates calculated based on loan purpose, loan-to-value, loan term, loan amount and credit score
- Oct 23, 20267.32%▼ from 7.80%
- Oct 12, 20267.80%first recorded
No additional details available.
Maximum Term: 15 Years; Payment: $1430.91; Maximum LTV 90%; LTVs above 80% require PMI
- Oct 1, 20268.01%▲ from 7.63%
- Sep 24, 20267.63%▲ from 7.51%
- Sep 16, 20267.51%first recorded
Fixed Rate; Loan to Value (LTV) Ratio of 80% or less; APR based on a typical $80,000 loan with standard loan fees
Elkhart 5/1 ARM Mortgage Rates
Rate may be increased after closing
- Oct 20, 20266.54%▼ from 6.54%
- Oct 14, 20266.54%first recorded
Rate may be increased after closing
- Oct 20, 20266.69%▼ from 6.69%
- Oct 14, 20266.69%first recorded
No additional details available.
Initial Monthly Payment: Months 1-60 $1,970.79; Maximum Monthly Payment: Months 61-360 $2,272.00; Requires credit score 780+ and 75% LTV
Adjustable Rate Loans; Maximum Loan to Value: 80%
- Oct 20, 20266.62%▼ from 6.63%
- Oct 20, 20266.63%▼ from 6.64%
- Oct 14, 20266.64%first recorded
Mortgage; APR for A credit based on $60,000.00 loan; minimum loan $20,000.00, maximum $832,750; minimum loan term 10 years, maximum 30 years; adjusts after 5 years then every 5th year, max 2% change per adjustment, 6% loan maximum; index 5YR Treasury bill
Owner Occupied Residential Real Estate; 2% Annual Cap, 5% Lifetime Cap; Loan to Value Ratio: <=95%
P & I: $648.60
- Oct 21, 20266.85%▲ from 6.60%
- Sep 15, 20266.60%first recorded
As Low As; 5-year initial fixed-rate period, then adjusts; available for home purchases and refinances; APR shown for $160,000 loan on $200,000 property, 780 credit score, 60-day rate lock; escrow required
Initial fixed period: Months 1-60; Initial; Maximum; Rates for credit scores 780+, 75% LTV, Indiana properties; Source table headed 'Adjustable Rate Mortgage Refinance', page tab shows Purchase Rates
Initial Monthly Payment: Months 1-60 $1,970.79; Maximum Monthly Payment: Months 61-360 $2,337.00; Requires credit score 780+ and 75% LTV
Payment is based on a $240,000 loan at 80% loan-to-value, purchase of a single-family residence; Fully Indexed Rate: 7.315%; Maximum Interest Rate: 10.875%; Months to First Rate Adjustment: 60 Months; Interest Only Term: 0 Months
- Oct 19, 20266.93%▲ from 6.83%
- Sep 27, 20266.83%▲ from 6.78%
- Sep 18, 20266.78%first recorded
Effective Date: Thursday, October 22nd, 2026
As Low As; Payment: 1,438.92
Mortgage; APR for A credit based on $60,000.00 loan; minimum loan $20,000.00, maximum $832,750; 6% cap every 15 years, 6% lifetime cap; index 10YR Treasury bill
As Low As; Refinance (cash-out refinance of primary residence); based on $200,000 loan, 70% LTV, 760 credit score; rates as of October 15, 2026
Adjustable Rate Loan; Rates as low as; Purchase; APR based on $200,000 loan, 70% LTV, 760 credit score; as of October 15, 2026
- Oct 20, 20267.65%▲ from 7.63%
- Oct 14, 20267.63%first recorded
Mortgage; APR for A credit based on $60,000.00 loan; 6% cap every 15 years, 6% lifetime cap; index 10YR Treasury bill
Mortgage construction to perm ARM; APR based on $60,000 loan amount
- Oct 23, 20268.05%▲ from 7.91%
- Oct 15, 20267.91%▼ from 8.05%
- Oct 12, 20268.05%first recorded
Elkhart 30-Year Jumbo Mortgage Rates
Purchase; Current Mortgage Rates; advertised rates effective 10/19/2026
- Oct 20, 20267.14%▲ from 7.01%
- Sep 15, 20267.01%first recorded
Jumbo purchase mortgage sample: credit score 780 or higher; LTV 75% (25% down payment); loan amount $1,000,000; owner occupied single family; no secondary financing; 60-day lock; Principal & Interest payment $6,737.19; minimum loan amount $832,751; rates effective 10/19/2026
- Oct 20, 20267.14%▼ from 7.26%
- Sep 27, 20267.26%▲ from 7.01%
- Sep 15, 20267.01%first recorded
Refinance; advertised rates effective as of 10/19/2026
7-year fixed-rate period, adjusts yearly; Based on $940,000 loan amount and down payment of at least 25%; Rates current as of 10/19/2026
based on $940,000 loan and at least 25% equity; 7-year fixed period, adjusts yearly; current as of 10/19/2026
10-year fixed-rate period, adjusts yearly; Based on $940,000 loan amount and down payment of at least 25%; Rates current as of 10/19/2026
based on $940,000 loan and at least 25% equity; 10-year fixed period, adjusts yearly; current as of 10/19/2026
** Payment is based on a $726,300 loan at 80% loan-to-value, purchase of a single-family residence; Interest Only Term: 0 Months
- Oct 19, 20267.40%▲ from 7.02%
- Sep 18, 20267.02%first recorded
Based on $940,000 loan amount and down payment of at least 25%; Rates current as of 10/19/2026
Based on $940,000 loan amount and down payment of at least 25%; Rates current as of 10/19/2026
based on $940,000 loan and at least 25% equity; current as of 10/19/2026
based on $940,000 loan and at least 25% equity; current as of 10/19/2026
Purchase; example monthly payment $5,881.93
Elkhart 15-Year Jumbo Mortgage Rates
Based on $940,000 loan amount and down payment of at least 25%; Rates current as of 10/19/2026
based on $940,000 loan and at least 25% equity; current as of 10/19/2026
Elkhart 5/1 Jumbo ARM Mortgage Rates
5-year fixed-rate period, adjusts yearly; Based on $940,000 loan amount and down payment of at least 25%; Rates current as of 10/19/2026
based on $940,000 loan and at least 25% equity; 5-year fixed period, adjusts yearly; current as of 10/19/2026
Elkhart FHA Loan Rates
FHA
- Oct 20, 20267.34%▼ from 7.65%
- Oct 1, 20267.65%▲ from 7.27%
- Sep 27, 20267.27%▲ from 6.38%
- Sep 15, 20266.38%first recorded
FHA
- Oct 20, 20267.69%▼ from 8.07%
- Oct 1, 20268.07%▲ from 7.42%
- Sep 27, 20267.42%▲ from 6.78%
- Sep 15, 20266.78%first recorded
No Closing Cost; FHA
- Oct 20, 20267.71%▼ from 7.85%
- Oct 1, 20267.85%▲ from 7.65%
- Sep 27, 20267.65%▲ from 6.63%
- Sep 15, 20266.63%first recorded
No Closing Cost; FHA
- Oct 20, 20268.06%▼ from 8.33%
- Oct 1, 20268.33%▲ from 7.81%
- Sep 27, 20267.81%▲ from 7.04%
- Sep 15, 20267.04%first recorded
Purchase; Current Mortgage Rates; advertised rates effective 10/19/2026
- Oct 20, 20269.57%▲ from 8.96%
- Sep 15, 20268.96%first recorded
Principal & Interest Payment: $1,179.99
- Oct 20, 20269.57%▲ from 9.57%
- Sep 27, 20269.57%▲ from 9.26%
- Sep 24, 20269.26%▲ from 8.96%
- Sep 15, 20268.96%first recorded
Refinance; advertised rates effective as of 10/19/2026
As Low As; 30-year rate shown; Rate shown as APR*
- Oct 5, 20267.10%▲ from 6.85%
- Sep 25, 20266.85%▲ from 6.48%
- Sep 17, 20266.48%first recorded
Purchase; example monthly payment $1,411.12
Rate Type: Fixed
- Oct 23, 20268.00%▲ from 7.75%
- Sep 25, 20267.75%▲ from 7.50%
- Sep 14, 20267.50%first recorded
Rate Type: Fixed
- Oct 23, 20268.50%▲ from 8.25%
- Sep 25, 20268.25%▲ from 8.00%
- Sep 14, 20268.00%first recorded
Based on $270,019 loan amount and down payment of at least 3.5%; Rates current as of 10/19/2026
based on $270,019 loan and at least 3.5% equity; assumes FICO 680+; current as of 10/19/2026
Rate Type: Fixed
- Oct 23, 20268.75%▲ from 8.50%
- Sep 25, 20268.50%▲ from 8.25%
- Sep 14, 20268.25%first recorded
Elkhart VA Loan Rates
Purchase; Current Mortgage Rates; advertised rates effective 10/19/2026
- Oct 20, 20267.67%▼ from 7.92%
- Oct 7, 20267.92%▲ from 7.42%
- Sep 27, 20267.42%▲ from 7.16%
- Sep 24, 20267.16%▲ from 7.04%
Refinance; advertised rates effective as of 10/19/2026
- Oct 20, 20267.67%▲ from 7.04%
- Sep 15, 20267.04%first recorded
Principal & Interest Payment: $1,201.15; Purchase, owner occupied single family; assumes credit score 680 or higher, LTV 100%, 45-day lock
- Oct 20, 20267.67%▲ from 7.54%
- Oct 14, 20267.54%▼ from 7.92%
- Oct 7, 20267.92%▲ from 7.54%
- Oct 1, 20267.54%▲ from 7.42%
Purchase; example monthly payment $1,647.88
Interest rate and APR available to borrowers with credit scores 780 or greater and 100% LTV; based on Indiana property
- Oct 23, 20267.10%▲ from 6.72%
- Sep 21, 20266.72%first recorded
As Low As; 30-year rate shown; Rate shown as APR*
- Oct 5, 20267.10%▲ from 6.85%
- Sep 25, 20266.85%▲ from 6.48%
- Sep 17, 20266.48%first recorded
No additional details available.
- Oct 23, 20267.10%▲ from 6.72%
- Sep 21, 20266.72%first recorded
Interest rate and APR available to borrowers with credit scores 780 or greater and 100% LTV; based on Indiana property
- Oct 23, 20267.23%▼ from 7.36%
- Oct 15, 20267.36%first recorded
No additional details available.
- Oct 23, 20267.23%▼ from 7.36%
- Oct 15, 20267.36%first recorded
Based on $383,625 loan amount and no down payment; Rates current as of 10/19/2026
based on $305,059 loan and 14.8% equity; current as of 10/19/2026
Banks and Credit Unions: If you need to update your rate data or request removal from MonitorBankRates.com, please contact us here.
Elkhart, IN Mortgage Rate Trends
Compare local Elkhart, IN mortgage rate quotes against the statewide average
Daily mortgage rate averages tracked across our database of verified mortgage rate quotes, updated every evening.
Indiana 30-year fixed rates fell 0.075 points over the past 7 days to 7.461%.
Indiana 15-year fixed rates fell 0.074 points over the past 7 days to 7.030%.
Indiana Mortgage Rate Forecast, Next 12 Months
Where are Indiana mortgage rates headed through October 2027?
Based on Fed funds rate futures, 10-year Treasury path, and historical mortgage spread model. Not financial advice.
What Forecast Rates Mean for Elkhart, IN Home Buyers
Monthly principal & interest payment on Elkhart, IN median home of $139,500 (20% down, 30-year fixed, city-level Census ACS median)
| Scenario | Rate | Mo. Payment | vs. Today | % of Income |
|---|---|---|---|---|
| Today (IN avg) | 7.461% | $777 | 18.3% | |
| 6-Month Forecast | 7.461% (7.11, 7.76%) | $777 | +$0/mo | 18.3% |
| 12-Month Forecast | 7.711% (7.36, 8.01%) | $797 | +$19/mo | 18.7% |
Income column = annual mortgage payment as % of Elkhart, IN median household income ($51,028). Above 30% is generally considered cost-burdened.
MonitorBankRates Housing Affordability Index (MBR-HAI)
A daily-updated affordability score for Elkhart, Indiana , computed from local Census Bureau data combined with current Indiana mortgage rates.
What This Score Means for Elkhart, Indiana Home Buyers
With a score of 115.5, Elkhart, Indiana is 18.3 points more affordable than the national average of 97.3. The area’s median home value of $139,500 against a median household income of $51,028 produces a price-to-income ratio of 2.7x , relatively affordable compared to national levels. At the current Indiana mortgage rate of 7.461%, a buyer purchasing the median-priced home with 20% down would carry a monthly payment of approximately $777 in principal and interest.
Beyond the mortgage payment, the median total monthly owner cost in this area is $856, covering mortgage, property taxes, insurance, and utilities. Property taxes alone average $107/month ($1,286/year). These ongoing costs factor directly into the MBR-HAI alongside the mortgage rate and income data.
Score computed from local U.S. Census Bureau ACS 5-Year Estimates (2024) and CPS/HVS Q4 2025 data, combined with the current Indiana live mortgage rate. Score of 100 = national average at 6.5% reference rate. Full methodology
How Mortgage Rates Impact Home Affordability in Elkhart, Indiana
Elkhart, Indiana Housing Market Overview
According to the U.S. Census Bureau, the median owner-occupied home value in Elkhart, Indiana is approximately $139,500. The 2026 FHFA conforming loan limit for this area is $832,750, meaning most buyers financing at 80% LTV will qualify for conforming loan pricing, making rate comparison across local lenders especially valuable.
Elkhart, Indiana Homeownership Rate
The homeownership rate in Elkhart, Indiana stands at 69.7%, near the national average of 65.7%. The homeowner vacancy rate of 1.4% signals a tight market with limited available inventory, making it critical to secure the best possible rate quickly when a suitable property becomes available.
Monthly Payment Estimates for Elkhart, Indiana Buyers
Even a small difference in your interest rate can add up to tens of thousands of dollars over the life of a loan. The table below shows monthly principal and interest payments on a $110,000 mortgage, based on a 20% down payment on the Elkhart, Indiana median home value.
| Interest Rate | Loan Term | Monthly Payment | Total Interest Paid |
|---|---|---|---|
| 6.961% | 30-year fixed | $729 | $152,423 |
| 7.461% Current Avg | 30-year fixed | $766 | $165,832 |
| 7.961% | 30-year fixed | $804 | $179,495 |
| 7.030% | 15-year fixed | $991 | $68,300 |
A 0.500% rate increase on a $110,000 loan adds roughly $38 per month and over $13,663 in total interest over a 30-year term. That’s why comparing verified, current rates from multiple lenders, using the rate table above, is one of the most impactful financial decisions a Elkhart, Indiana buyer can make.
Data sources: U.S. Census Bureau; Federal Housing Finance Agency (FHFA). Monthly payments shown are principal & interest only; taxes, insurance, and PMI not included.
Elkhart, Indiana Income & Housing Affordability
At a price-to-income ratio of 2.7x, Elkhart, Indiana is a relatively affordable housing market compared to national averages. That ratio, median home value divided by median household income, is a standard benchmark used by housing economists to gauge how accessible homeownership is relative to local earnings. The national baseline is approximately 3.8x.
What This Means for Elkhart, Indiana Buyers
With a median household income of $51,028 per year in Elkhart, Indiana ($4,252/month) and a median home value of approximately $139,500, a buyer financing at 80% LTV at the current average rate would commit roughly 18% of gross monthly income to principal and interest alone. that falls within a manageable range relative to income, though taxes, insurance, HOA fees, and PMI will add to the true monthly cost of ownership.
Compared to the Indiana statewide price-to-income ratio of 3x, Elkhart tracks closely with the broader Indiana market on income-adjusted affordability. In either case, even a 0.25% improvement in your mortgage rate meaningfully reduces both the income needed to qualify and the total cost over the loan term.
Data sources: U.S. Census Bureau. Monthly payment estimate assumes 80% LTV at current average rate; principal and interest only.
Full Cost of Homeownership in Elkhart, Indiana
A mortgage payment is just the starting point. Property taxes, insurance, and utilities add hundreds of dollars per month to the true cost of owning a home in Elkhart, Indiana. Understanding the full picture before you buy is the difference between a home you can afford and one that stretches you thin.
Owner vs. Renter Costs
In Elkhart, Indiana, the median homeowner with a mortgage pays approximately $856/month in total housing costs, covering the mortgage payment, property taxes, insurance, and utilities. The median renter pays $998/month including utilities. In this market, owning costs less per month than renting, a compelling financial case for buyers who can qualify for financing. Property taxes alone account for $107/month of the ownership cost, a figure that can vary dramatically by location and is often underestimated by first-time buyers.
Housing Cost Burden
The federal standard defines “cost burdened” as spending more than 30% of gross household income on housing. “Severely cost burdened” means spending 50% or more. Both thresholds leave little room for savings, emergencies, or other financial goals.
In Elkhart, Indiana, 28.1% of homeowners with mortgages are cost burdened and 43.6% of renters are cost burdened. Renters face significantly higher burden rates than owners, a pattern that often reflects lower renter incomes rather than lower rental costs, and one that can make the path from renting to owning financially difficult even when mortgage payments might be affordable. With an owner burden rate of 28.1% near the national average of 28.0%, this market reflects typical affordability conditions for mortgage holders.
Data sources: U.S. Census Bureau, American Community Survey 5-Year Estimates. Monthly owner costs include mortgage payment, taxes, insurance, and utilities. Property taxes reflect median annual taxes for mortgage holders. Rent reflects median gross rent including utilities. Cost burden figures reflect households spending 30%+ of gross income on housing.
Elkhart, Indiana Mortgage Payment Calculator
See your estimated monthly principal & interest payment at today’s Elkhart, Indiana rates. The home price is prefilled with the local median home value. Adjust anything, or click a current rate on the right to apply that loan type’s rate and term instantly.
Principal & interest only, excludes property taxes, homeowners insurance, PMI, and HOA dues. See the Full Cost of Homeownership section above for those figures. Estimates are for informational purposes only.
Run the Numbers on Your Elkhart, Indiana Home Loan
Rates are only part of the equation. Use these calculators to translate current Elkhart, Indiana mortgage rates and home loan rates into real numbers for your specific situation before you request quotes from mortgage lenders.
Enter your loan amount, interest rate, and term length to see your estimated monthly principal and interest payment. Adjust any variable to model different scenarios: a larger down payment, a shorter term, or a rate a quarter-point lower than what you were quoted.
CalculateTell us your gross income, monthly debt obligations, and how much you have for a down payment. We’ll show you the home price range you’re likely to qualify for at current Elkhart, Indiana rates, so you can shop with a realistic number in mind rather than discovering your ceiling after you’ve fallen in love with a property.
CalculateIf you already own a home, enter your current rate, remaining loan balance, and the rate you’ve been quoted to refinance. The calculator shows your new monthly payment, how much you’d save each month, and the break-even point, the number of months it takes for your savings to cover the closing costs of refinancing.
CalculateBuying isn’t always the better financial decision, and renting isn’t always throwing money away. This calculator weighs the full cost of each path: mortgage payments, taxes, insurance, and maintenance against rent increases and the opportunity cost of a down payment, to show which option builds more wealth over your intended time horizon in Elkhart, Indiana.
CalculateTypes of Mortgages Available in Elkhart, Indiana
Not every loan program is right for every buyer in Elkhart, Indiana. Rates, down payment requirements, eligibility rules, and long-term costs vary significantly across products, and the right choice depends on your credit profile, how long you plan to stay, and whether you qualify for any government-backed programs.
Fixed-Rate Mortgage
A fixed-rate mortgage locks your interest rate in for the entire loan term. Your principal and interest payment on day one is identical to payment 360. That predictability is valuable for long-term financial planning, especially in markets where housing costs represent a large share of household income.
Available in 10-, 15-, 20-, and 30-year terms. The 30-year minimizes monthly payments; the 15-year cuts total interest paid dramatically but requires a higher monthly commitment. The payment comparison table above shows exactly how those trade-offs look at today’s Elkhart, Indiana rate levels.
Adjustable-Rate Mortgage (ARM)
An ARM offers a fixed introductory rate for an initial period, commonly 5, 7, or 10 years, after which the rate adjusts periodically based on a market index. The starting rate is typically lower than a comparable fixed-rate loan, which reduces your monthly payment during the initial window.
ARMs work best when you have a defined exit timeline: if you plan to sell or refinance before the fixed period ends, you capture the lower rate without exposure to future adjustments. Rate caps govern how much the rate can move at each adjustment and in total, so read those terms closely before committing.
FHA Loan
Backed by the Federal Housing Administration, FHA loans are built for buyers who don’t yet meet conventional loan standards. You can qualify with a credit score of 580 and just 3.5% down, and some lenders will consider scores as low as 500 with a 10% down payment.
The cost of that lower barrier is mortgage insurance. FHA loans carry an upfront MIP of 1.75% of the loan amount (which can be rolled in) plus an annual MIP of 0.15% to 0.75% depending on your term and LTV. For buyers who would otherwise wait years to save a larger down payment, given ongoing home price trends in Elkhart, Indiana, FHA is often the faster path to ownership.
VA Loan
Available to eligible active-duty service members, veterans, reservists, National Guard members, and qualifying surviving spouses, VA loans are among the most favorable mortgage programs available anywhere. No down payment is required, there is no monthly mortgage insurance, and rates are generally competitive with, and often better than, conventional loan rates.
A one-time funding fee applies, 2.15% of the loan for first-time VA borrowers with no down payment, which can be financed into the loan. In Elkhart, Indiana, where home prices require substantial savings for a conventional down payment, the zero-down VA benefit is an enormous advantage for those who qualify.
Jumbo Loan
The 2026 FHFA conforming loan limit for Elkhart, Indiana is $832,750. Mortgages above that amount are classified as jumbo loans and are not eligible for purchase by Fannie Mae or Freddie Mac, which means lenders carry the full risk and price that risk accordingly.
Jumbo underwriting is stricter: lenders typically require a credit score of 700 or higher, substantial cash reserves, thorough income documentation, and a down payment of at least 10 to 20%. Rates may run slightly above conforming levels, though the gap narrows in competitive lending environments.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Elkhart, Indiana mortgage rate tables are free for consumers to use, and we do not receive payment from any lender to be included or to be ranked in any particular order. Listings are based solely on the rates each lender publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Mortgage Rate Data: We aggregate mortgage and refinance rates for Elkhart, Indiana directly from the official websites of local lenders, credit unions, and national mortgage originators using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every rate displayed is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available home loan products in Elkhart, Indiana. We feature a comprehensive mix of licensed NMLS financial institutions, from neighborhood credit unions and competitive regional banks to large national originators available to borrowers in IN.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update mortgage rates daily. Because rates and APRs can fluctuate rapidly based on bond markets and economic conditions, every loan product features its own “last updated” date for full transparency.
Proprietary Lender Health & Safety Grades: Beyond tracking rates, MonitorBankRates evaluates the financial stability of every listed institution. Our Health Grades (A+ to F) and Star Ratings are composite metrics calculated using objective regulatory data, including the Texas Ratio, ensuring you compare rates from secure, reliable lenders.
How a Mortgage Works in Elkhart, Indiana
A mortgage is a loan used to buy a home in Elkhart, Indiana, secured by the property itself as collateral. The borrower repays the amount over a set term, most commonly 30 or 15 years, in monthly installments that cover both principal and interest. Because the loan is secured, the lender can foreclose on the home if payments are not made, which is part of why mortgage rates are lower than rates on unsecured debt.
Fixed-Rate vs. Adjustable-Rate Mortgages for Elkhart, Indiana Buyers
A fixed-rate mortgage keeps the same interest rate for the entire term, so a Elkhart, Indiana homeowner’s principal-and-interest payment never changes. For example, Old National Bank is listing a Construction 30 Yr Loan at 7.125%. An adjustable-rate mortgage (ARM) starts with a fixed period, often five, seven, or ten years, and then adjusts periodically based on a market index. ARMs usually open with a lower rate, but the payment can rise once the fixed period ends, so they tend to suit Elkhart, Indiana borrowers who expect to move or refinance before that point. On the adjustable-rate side, Inova Federal Credit Union is listing a Adjustable Rate Program - 5/6 ARM at 6.13%.
How Elkhart, Indiana Mortgage Rates Are Set
Mortgage rates move with the broader bond market, particularly the yield on the 10-year Treasury, plus a spread that reflects lender costs and risk. On top of that national baseline, the rate a Indiana borrower is offered depends on individual factors: credit score, down payment size, loan amount, loan type, and the property itself. This is why the advertised rates above are a starting point, and a borrower’s final rate is set once an application is underwritten.
Points and Closing Costs in Elkhart, Indiana
The interest rate is not the only cost of buying a home in Elkhart, Indiana. Discount points are an optional upfront fee (one point equals one percent of the loan amount) paid to lower the rate over the life of the loan. Closing costs cover items such as origination fees, appraisal, title insurance, and recording, and typically run two to five percent of the loan. Comparing the annual percentage rate (APR) alongside the note rate helps Elkhart, Indiana shoppers account for these costs when weighing lenders.
When Elkhart, Indiana Homeowners Should Consider Refinancing
Refinancing replaces an existing mortgage with a new one, usually to secure a lower rate, change the term, or tap home equity. For Elkhart, Indiana homeowners, the general guideline is that refinancing makes sense when the savings from a lower rate recoup the closing costs within the time the borrower plans to stay in the home, known as the break-even point. Borrowers also refinance to switch from an adjustable rate to a fixed rate, or to remove mortgage insurance once enough equity has built up. Current Elkhart, Indiana refinance rates from local lenders are listed on our refinance page.
Frequently Asked Questions about Mortgage Rates in Elkhart, Indiana
What are home loan rates in Elkhart, IN today?
How does my credit score affect my rate in Indiana?
What is a 30-Year Fixed Mortgage?
What are closing costs in Indiana?
Should I lock my mortgage rate?
What is an Adjustable-Rate Mortgage (ARM)?
What is a Jumbo Loan in Elkhart, Indiana?
Do I need 20% down to buy a house in Indiana?
What is the difference between Interest Rate and APR?
How do I compare mortgage lenders in Elkhart, Indiana?
How do I get mortgage quotes in Elkhart, Indiana?
What is the median home value in Elkhart, Indiana?
What is the homeownership rate in Elkhart, Indiana?
What is the conforming loan limit in Elkhart, Indiana?
What is the median monthly cost of homeownership in Elkhart, Indiana?
What are the median property taxes in Elkhart, Indiana?
What is the median rent in Elkhart, Indiana?
What percentage of homeowners are cost burdened in Elkhart, Indiana?
What percentage of renters are cost burdened in Elkhart, Indiana?
What are the best Mortgage rates in Elkhart, Indiana?
- Old National Bank: 7.125% (Construction 30 Yr Loan)
- Inova Federal Credit Union: 7.25% (30 Year Fixed Rate)
- Key Bank: 7.25% (30 Year Fixed Mortgage Refinance)
- Lake City Bank: 7.875% (30 Year Fixed)
- Advance Financial Federal Credit Union: 5.625% (30-Year Fixed Mortgage)
Elkhart, Indiana Rates & Resources
