Indiana Refinance Rates - October 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Indiana mortgage refinance rates range from 5.62% to 8.62%, verified by MonitorBankRates as of October 14, 2026. Current mortgage refinance rates in Indiana include Elements Financial Federal Credit UnionElements Financial Federal Credit Union1400 W Raymond St, Indianapolis, IN, 46202A+5.0 ★Texas Ratio: 2.46% at 7.50%, Old National BankOld National Bank1 Main St, Anderson, IN, 46012A+5.0 ★Texas Ratio: 4.98% at 7.50%, Advance Financial Federal Credit UnionAdvance Financial Federal Credit Union31 W US Highway 30, East Chicago, IN, 46312A+5.0 ★Texas Ratio: 2.82% at 5.625%, Thrive Federal Credit UnionThrive Federal Credit Union2610 N Wheeling Ave, Muncie, IN, 47302 9405A+5.0 ★Texas Ratio: 5.88% at 5.75%, and GenFed Financial Credit UnionGenFed Financial Credit Union709 E State Road 44, Shelbyville, IN, 46176A+5.0 ★Texas Ratio: 4.88% at 6.24%. Refinance rates as of October 14, 2026 according to verified data from MonitorBankRates.
Use the tabs below to compare refinance rates across all loan types in Indiana side-by-side. Indiana refinance rates currently start as low as 5.625% from Advance Financial Federal Credit Union at 31 W US Highway 30, East Chicago, IN, 46312. Rates are continually updated, so we recommend checking back frequently.
Refinance rates reflect actual verified offers from lenders actively lending to Indiana homeowners. Your final approved rate will depend on your credit profile, loan-to-value ratio, cash-out amount, and daily market movements. Last Updated and Verified: October 14, 2026
Compare Refinance Rates Today in Indiana
Rates shown are each lender’s posted rate for that loan type, which most lenders apply to purchase and refinance loans alike. Local Indiana lenders are listed first in every tab. Among lenders that post both, refinance pricing currently runs about 0.131 points above the same lender’s purchase rate nationally. That premium is shown for context only; every rate in the table is the lender’s posted rate.
Indiana 30 Year Fixed Refinance Rates
Refinance; available to credit scores 780+ and 75% LTV; Indiana properties
Advertised rates effective as of 10/13/2026
Refinance rates effective as of October 11, 2026; available to borrowers with credit scores 780 or greater and 90% LTV; based on loans secured by property in Indiana
- Sep 29, 20267.74%▲ from 7.11%
- Sep 18, 20267.11%▲ from 6.98%
- Sep 14, 20266.98%first recorded
As Low As; Competitive 30-Year Fixed Mortgage Rates starting at 5.625%
New Fixed Rate Mortgage!
As Low As; Real Estate Loan Rates; Effective Date: 10/1/2026
- Oct 10, 20266.24%▲ from 5.49%
- Sep 18, 20265.49%first recorded
Discount: 0.00%; Mortgage loan assumes $150,000 borrowed inclusive of loan fees; No discount points
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%
Loan Rate Discount; Conventional conforming financing of purchases for primary residences only. Certain product restrictions apply. Closing costs may apply. A sample principal and interest payment on a (30)-year $200,000 fixed rate loan amount with a 7.125% interest rate (7.205% APR) is $1,629 including taxes, insurance, and PMI. This sample is based on a credit score of 760 and a LTV of 95% (5% down payment) and includes our loan rate discount. Actual interest rate may vary based on credit history, loan purpose, loan to value, etc. Product offerings may vary by state or , and all rates listed are specific to their respective mortgage program.
No additional details available.
Principal & Interest Payment: $1,569.01; Credit score 740 or higher; LTV 80% (20% down payment); Loan amount $230,000; One-time close construction; 1-year construction phase followed by 30-year permanent phase; Finance charges include $1,350 origination fee, $6.70 flood certification fee and $72 tax service fee
- Sep 27, 20267.31%▲ from 7.06%
- Sep 15, 20267.06%first recorded
Mortgage rate as low as; Rates subject to change without notice
- Oct 5, 20267.35%▲ from 7.10%
- Sep 17, 20267.10%first recorded
Conventional Fixed-Rate Mortgage; Principal & Interest Payment: $1,588.55; Assumptions: credit score 780 or higher, LTV 80% (20% down payment), loan amount $230,000, purchase, owner occupied/single family home, no secondary financing, escrow for taxes and insurance, 45-day lock
- Oct 14, 20267.43%▼ from 7.55%
- Oct 1, 20267.55%▲ from 7.30%
- Sep 24, 20267.30%▲ from 7.18%
- Sep 15, 20267.18%first recorded
Purchase rate; Advertised rates effective as of 10/13/2026
Rates last updated 10/13/2026
- Oct 14, 20267.44%▼ from 7.57%
- Oct 7, 20267.57%first recorded
As Low As; w/ 0.625 Points; Payment: 1,637.22
No additional details available.
- Oct 11, 20267.48%▼ from 7.61%
- Oct 1, 20267.61%▲ from 7.36%
- Sep 27, 20267.36%▲ from 7.11%
- Sep 15, 20267.11%first recorded
No additional details available.
- Oct 11, 20267.52%▼ from 7.65%
- Oct 7, 20267.65%▲ from 7.40%
- Oct 3, 20267.40%▼ from 7.52%
- Oct 1, 20267.52%▲ from 7.40%
Principal & Interest Payment: $1,186.37; Rate example assumes credit score 680 or higher, LTV 100%, 45-day lock; rate subject to change daily
- Oct 14, 20267.54%▼ from 7.92%
- Oct 7, 20267.92%▲ from 7.54%
- Oct 1, 20267.54%▲ from 7.42%
- Sep 27, 20267.42%▲ from 7.16%
0-Point Rate: 7.625%; 0-Point APR: 7.696%
No additional details available.
- Oct 12, 20267.59%▼ from 7.72%
- Oct 1, 20267.72%▲ from 7.47%
- Sep 24, 20267.47%first recorded
No additional details available.
- Oct 11, 20267.60%▼ from 7.72%
- Oct 7, 20267.72%▲ from 7.47%
- Oct 3, 20267.47%▼ from 7.60%
- Oct 1, 20267.60%▲ from 7.47%
Available to borrowers with credit scores 780 or greater and 100% LTV; based on loans secured by property in Indiana
No additional details available.
- Oct 7, 20267.65%▲ from 7.15%
- Sep 24, 20267.15%first recorded
No additional details available.
No additional details available.
- Oct 11, 20267.67%▼ from 7.92%
- Oct 7, 20267.92%▲ from 7.55%
- Oct 3, 20267.55%▼ from 7.67%
- Sep 27, 20267.67%▲ from 7.42%
1-Point Rate: 7.375%; 1-Point APR: 7.548%
- Oct 11, 20267.70%▼ from 7.80%
- Oct 7, 20267.80%first recorded
Conventional Fixed Rate
- Oct 7, 20267.70%▲ from 6.79%
- Sep 15, 20266.79%first recorded
Available to credit scores 780+ and 100% LTV; Indiana properties
Fixed Rate Mortgage (FRM)
No additional details available.
No additional details available.
No additional details available.
- Oct 1, 20267.99%▲ from 7.73%
- Sep 27, 20267.73%▲ from 7.61%
- Sep 24, 20267.61%▲ from 7.48%
- Sep 19, 20267.48%first recorded
No additional details available.
Fixed Rate Loans - Conforming and Government
- Oct 8, 20268.08%▲ from 7.83%
- Oct 2, 20267.83%▲ from 7.70%
- Sep 25, 20267.70%▲ from 7.45%
- Sep 17, 20267.45%first recorded
No additional details available.
No additional details available.
- Oct 1, 20268.67%▲ from 8.29%
- Sep 24, 20268.29%▲ from 8.12%
- Sep 16, 20268.12%first recorded
First Time Home Buyer program; Minimum loan amount $30,000.00
APR based on $60,000.00 loan amount; min loan $30,000, max $832,750; max purchase 97% LTV, no PMI required; fully amortized; not assumable
Principal & Interest Payment: $1,179.99; Credit score 640 or higher; LTV 96.5% (3.5% down payment); Base loan amount of $170,000; Total loan amount of $172,975; 45-day lock
- Sep 27, 20269.57%▲ from 9.26%
- Sep 24, 20269.26%▲ from 8.96%
- Sep 15, 20268.96%first recorded
Indiana 15 Year Fixed Refinance Rates
Refinance; available to credit scores 780+ and 75% LTV; Indiana properties
Advertised rates effective as of 10/13/2026
Refinance rates effective as of October 11, 2026; available to borrowers with credit scores 780 or greater and 90% LTV; based on loans secured by property in Indiana
As Low As; Get peace of mind with predictable monthly payments. Both traditional and short-term options available.
- Sep 27, 20266.50%▲ from 6.25%
- Sep 18, 20266.25%▲ from 6.13%
- Sep 14, 20266.13%first recorded
Discount: 0.00%; Mortgage loan assumes $150,000 borrowed inclusive of loan fees; No discount points
As Low As; w/ 0.875 Points; Payment: 2,090.66
No additional details available.
As Low As; Click to apply!
As Low As; Click to apply!
No additional details available.
- Oct 1, 20267.05%▲ from 6.80%
- Sep 24, 20266.80%▲ from 6.54%
- Sep 15, 20266.54%first recorded
Rates last updated 10/13/2026
- Oct 14, 20267.06%▲ from 6.94%
- Oct 7, 20266.94%first recorded
Conventional Fixed-Rate Mortgage; Principal & Interest Payment: $2,067.31; Assumptions: credit score 780 or higher, LTV 80% (20% down payment), loan amount $230,000, purchase, owner occupied/single family home, no secondary financing, escrow for taxes and insurance, 45-day lock
- Oct 14, 20267.08%▼ from 7.21%
- Oct 1, 20267.21%▲ from 6.96%
- Sep 24, 20266.96%▲ from 6.71%
- Sep 15, 20266.71%first recorded
Purchase rate; Advertised rates effective as of 10/13/2026
No additional details available.
- Oct 7, 20267.11%▲ from 6.86%
- Sep 24, 20266.86%first recorded
No additional details available.
No additional details available.
- Oct 12, 20267.15%▼ from 7.27%
- Oct 8, 20267.27%▲ from 7.02%
- Oct 3, 20267.02%▼ from 7.15%
- Sep 28, 20267.15%▲ from 6.90%
Available to credit scores 780+ and 100% LTV; Indiana properties
Fixed Rate Mortgage (FRM)
0-Point Rate: 7.250%; 0-Point APR: 7.361%
No additional details available.
- Oct 11, 20267.30%▲ from 7.17%
- Oct 3, 20267.17%▼ from 7.30%
- Sep 27, 20267.30%▲ from 7.04%
- Sep 24, 20267.04%▼ from 7.17%
No additional details available.
1-Point Rate: 7.000%; 1-Point APR: 7.274%
- Oct 11, 20267.36%▼ from 7.40%
- Oct 7, 20267.40%first recorded
Conventional Fixed Rate
No additional details available.
Fixed Rate Loans - Conforming and Government
- Oct 8, 20267.80%▲ from 7.32%
- Oct 4, 20267.32%▼ from 7.80%
- Oct 2, 20267.80%▲ from 7.32%
- Sep 25, 20267.32%▲ from 7.19%
Rates calculated based on loan purpose, loan-to-value, loan term, loan amount and credit score.
No additional details available.
No additional details available.
- Oct 1, 20268.01%▲ from 7.63%
- Sep 24, 20267.63%▲ from 7.51%
- Sep 16, 20267.51%first recorded
Indiana 5/1 ARM Refinance Rates
As Low As; Adjustable Rate Loan Terms; APR assumes cash-out refinance of primary residence, $200,000 loan, 70% LTV, 760 credit score
As Low As; Enjoy a low initial rate that adjusts with the market. Various terms and options available.
- Oct 14, 20266.00%▼ from 6.13%
- Oct 1, 20266.13%▲ from 5.63%
- Sep 18, 20265.63%▲ from 5.50%
- Sep 14, 20265.50%first recorded
Rate may be increased after closing
Adjustable Rate Loan; Maximum Loan to Value: 80%; Est.; Rates effective as of 10/14/2026
Adjustable Rate Mortgage (ARM); Minimum loan amount $20,000.00
APR based on $60,000.00 loan amount; Min loan $20,000.00, max $832,750; min term 10 years, max 30 years; rate adjusts after 5 years, max 2% change per adjustment, loan max 6%; FICO 720+ pricing varies by LTV
Rate may be increased after closing
Owner Occupied Residential Real Estate; 2% Annual Cap, 5% Lifetime Cap; Loan to Value: <=95%
No additional details available.
As Low As; introductory rate; initial fixed-rate period followed by periodic adjustments; available for home purchases and refinances; example assumes $160,000 loan on $200,000 property
Adjustable-rate mortgage; Effective Date: Monday, October 12th, 2026
Initial Monthly Payment (Months 1-60): $2,046.53; Maximum Monthly Payment (Months 61-360): $2,410.00
- Oct 13, 20267.07%▲ from 6.99%
- Oct 9, 20266.99%first recorded
Initial Monthly Payment (Months 1-60): $2,046.53; Maximum Monthly Payment (Months 61-360): $2,410.00; Rates for credit scores 780+ and 75% LTV, Indiana properties
- Oct 13, 20267.07%▲ from 6.99%
- Oct 9, 20266.99%first recorded
Initial Monthly Payment (Months 1-36): $2,123.38; Maximum Monthly Payment (Months 37-360): $2,522.00; Rates for credit scores 780+ and 75% LTV, Indiana properties
- Oct 13, 20267.12%▲ from 7.02%
- Oct 9, 20267.02%first recorded
Initial Monthly Payment (Months 1-84): $2,097.64; Maximum Monthly Payment (Months 85-360): $2,438.00; Rates for credit scores 780+ and 75% LTV, Indiana properties
- Oct 13, 20267.25%▲ from 7.19%
- Oct 9, 20267.19%first recorded
Initial Monthly Payment (Months 1-60): $2,046.53; Maximum Monthly Payment (Months 61-360): $2,370.00
Initial Monthly Payment (Months 1-60): $2,046.53; Maximum Monthly Payment (Months 61-360): $2,370.00; Rates for credit scores 780+ and 75% LTV, Indiana properties
Adjustable Rate Mortgage (ARM); Minimum loan amount $20,000.00
APR based on $60,000.00 loan amount; Min loan $20,000.00, max $832,750; 6% cap every 15 years, 6% lifetime cap; APR for 'A' credit
As Low As; Adjustable Rate Loan Terms; APR calculated for purchase of primary residence, $200,000 loan amount, 70% LTV, 760 credit score
Adjustable Rate Mortgage (ARM); Construction to Permanent
Indiana 30-Year Jumbo Refinance Rates
Loan amount $940,000 with at least 25% equity; 30-year term
Advertised rates effective as of 10/13/2026
Loan amount $940,000 with at least 25% equity; 30-year term
Loan amount $940,000 with at least 25% equity
Loan amount $940,000 with at least 25% equity
As Low As; Finance higher-priced homes without a large down payment or multiple mortgages.
- Oct 1, 20267.13%▲ from 6.88%
- Sep 18, 20266.88%▲ from 6.63%
- Sep 14, 20266.63%first recorded
Loan amount $940,000; down payment of at least 25%
Principal & Interest Payment: $6,821.76; Jumbo loan; LTV 75% (25% down payment); loan amount $1,000,000; credit score 780 or higher; owner occupied single family; 60-day lock; minimum loan amount $832,751
- Sep 27, 20267.26%▲ from 7.01%
- Sep 15, 20267.01%first recorded
Purchase rate; Advertised rates effective as of 10/13/2026
Loan amount $940,000; down payment of at least 25%
Loan amount $940,000; down payment of at least 25%
Loan amount $940,000; down payment of at least 25%
Indiana 15-Year Jumbo Refinance Rates
Loan amount $940,000 with at least 25% equity
Loan amount $940,000; down payment of at least 25%
Indiana 5/1 Jumbo ARM Refinance Rates
Loan amount $940,000 with at least 25% equity; 30-year term
Loan amount $940,000; down payment of at least 25%
Indiana FHA Loan Rates
Loan amount $270,019 with at least 3.5% equity; assumes FICO 680+
Advertised rates effective as of 10/13/2026
Mortgage rate as low as; 30-year rate shown; Rates subject to change without notice
- Oct 5, 20267.10%▲ from 6.85%
- Sep 25, 20266.85%▲ from 6.48%
- Sep 17, 20266.48%first recorded
No additional details available.
No additional details available.
No additional details available.
No additional details available.
Loan amount $270,019; down payment of at least 3.5%
Principal & Interest Payment: $1,179.99; Credit score 640 or higher; LTV 96.5% (3.5% down payment); Base loan amount of $170,000; Total loan amount of $172,975; 45-day lock
- Sep 27, 20269.57%▲ from 9.26%
- Sep 24, 20269.26%▲ from 8.96%
- Sep 15, 20268.96%first recorded
Purchase rate; Advertised rates effective as of 10/13/2026
Indiana VA Loan Rates
Refinance rates effective as of October 11, 2026; available to borrowers with credit scores 780 or greater and 90% LTV; based on loans secured by property in Indiana
Advertised rates effective as of 10/13/2026
- Oct 14, 20267.54%▼ 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 rates effective as of October 11, 2026; available to borrowers with credit scores 780 or greater and 90% LTV; based on loans secured by property in Indiana
- Sep 29, 20267.74%▲ from 7.11%
- Sep 18, 20267.11%▲ from 6.98%
- Sep 14, 20266.98%first recorded
Mortgage rate as low as; 30-year rate shown; Rates subject to change without notice
- Oct 5, 20267.10%▲ from 6.85%
- Sep 25, 20266.85%▲ from 6.48%
- Sep 17, 20266.48%first recorded
Available to credit scores 780+ and 100% LTV; Indiana properties
Loan amount $383,625; no down payment
Purchase rate; Advertised rates effective as of 10/13/2026
Principal & Interest Payment: $1,186.37; Rate example assumes credit score 680 or higher, LTV 100%, 45-day lock; rate subject to change daily
- Oct 14, 20267.54%▼ from 7.92%
- Oct 7, 20267.92%▲ from 7.54%
- Oct 1, 20267.54%▲ from 7.42%
- Sep 27, 20267.42%▲ from 7.16%
Available to credit scores 780+ and 100% LTV; Indiana properties
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National Refinance Rate Averages
Daily averages of posted rates across every lender we track, as of October 14, 2026. Use these as the benchmark for the Indiana quotes above; lenders that price refinances separately currently run about 0.131 points higher.
Indiana Refinance Rate Trends
Compare local Indiana refinance quotes against the statewide average
Daily averages of posted first-mortgage rates across our lender network, updated every evening. Because most lenders price purchase and refinance loans identically, this is the benchmark a Indiana refinance quote should be measured against, plus roughly 0.131 points at lenders that price refinances separately.
Indiana 30-year fixed rates fell 0.002 points over the past 7 days to 7.540%.
Indiana 15-year fixed rates rose 0.067 points over the past 7 days to 7.117%.
What Indiana Homeowners Actually Pay to Refinance
Posted refinance rates from our lender network alongside the rates borrowers closed at, from federal HMDA filings
Two different measures. The refinance premium is computed nightly from lenders that publish separate purchase and refinance pricing. HMDA figures are median note rates on loans that actually closed.
Indiana Refinance Rate Forecast, Next 12 Months
Where are Indiana refinance rates headed through October 2027?
Based on Fed funds rate futures, 10-year Treasury path, and historical mortgage spread model. If the forecast shows rates falling, waiting may beat refinancing today; the break-even calculator below shows what each scenario is worth. Not financial advice.
What Forecast Rates Mean for Indiana Homeowners Refinancing
Monthly principal & interest on a 30-year refinance of the loan of $174,560 (80% of the state median home value). Payment differences show what waiting for the forecast rate would be worth each month.
| Scenario | Rate | Mo. Payment | vs. Today | % of Income |
|---|---|---|---|---|
| Today (IN avg) | 7.540% | $1,225 | 20.4% | |
| 6-Month Forecast | 7.540% (7.19, 7.84%) | $1,225 | +$0/mo | 20.4% |
| 12-Month Forecast | 7.790% (7.44, 8.09%) | $1,255 | +$30/mo | 20.9% |
Income column = annual mortgage payment as % of Indiana median household income ($71,957). Above 30% is generally considered cost-burdened.
Indiana Refinance Break-Even Calculator
Enter your current loan and the refinance rate you have been quoted. The calculator shows the new payment, monthly savings, and how many months it takes for those savings to pay back the closing costs. Click a current Indiana rate on the right to test it instantly.
Principal and interest only. Excludes escrow, mortgage insurance, and any prepayment penalty on the current loan. Lifetime interest compares the remaining interest on the current loan to total interest on the new loan. Estimates are for informational purposes only.
Run the Numbers on Your Indiana Refinance
The rate is only part of the decision. Use these calculators to turn current Indiana home refinance rates into monthly savings, break-even months, and total interest before you request quotes from refinance lenders.
If 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.
CalculateEnter 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.
CalculateIf your goal is cash rather than a lower rate, compare current Indiana home equity loan and HELOC rates against a cash-out refinance. Keeping a low existing first mortgage and adding a second lien is often the cheaper path, especially for loans originated between 2020 and 2022.
CompareTell 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 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.
CalculateTypes of Refinance Loans Available in Indiana
Homeowners across Indiana can choose from several refinance programs. The right one depends on what you are trying to do: lower the rate, shorten the term, pull cash out, or drop mortgage insurance. Pricing, appraisal requirements, and eligibility differ across each, and the cheapest program is not always the lowest posted rate once fees are counted.
Rate-and-Term Refinance
The standard refinance. You replace your existing mortgage with a new loan for about the same balance, changing only the rate, the term, or both. It is the lowest-priced refinance product at nearly every Indiana lender because the loan-to-value ratio does not rise.
Best for homeowners whose rate is at least half a point above today’s Indiana average and who plan to stay past the break-even point. Choosing a term that matches your remaining years, rather than resetting to 30, keeps the payoff date where it is.
Cash-Out Refinance
A cash-out refinance replaces your mortgage with a larger one and hands you the difference at closing. Conventional lenders cap the new loan at 80% of appraised value; VA cash-out loans go to 90%. Rates run above rate-and-term pricing.
If you hold a low rate from 2020 to 2022, a home equity loan or HELOC in Indiana usually costs less than refinancing the whole balance at today’s rate to pull out cash.
FHA Streamline Refinance
For homeowners already in an FHA loan. No appraisal, no income verification, and limited credit review, as long as the new loan produces a net tangible benefit (generally a rate at least 0.5% lower, or a move from an ARM to a fixed rate). You need 210 days since the first payment and six on-time payments.
The upfront mortgage insurance premium is reduced to 0.01% and annual MIP continues, so FHA borrowers with 20% equity and good credit should also price a conventional rate-and-term refinance, which drops mortgage insurance entirely.
VA IRRRL (Streamline Refinance)
The Interest Rate Reduction Refinance Loan lets veterans refinance an existing VA loan with no appraisal, no income documentation, and a funding fee of just 0.5% (waived for borrowers with a service-connected disability). Closing costs can be rolled into the loan.
The new rate must be lower than the current one unless you are moving from an ARM to a fixed rate, and you must recoup closing costs within 36 months. VA lenders in Indiana quote IRRRL pricing separately, so ask for it by name.
USDA Streamlined-Assist Refinance
For homeowners with an existing USDA Rural Development loan. No appraisal or credit review in most cases, and the new payment must be at least $50 a month lower than the current one. The property no longer has to meet the rural eligibility map.
Twelve months of on-time payments are required, and the 1% upfront guarantee fee plus the annual fee apply to the new loan.
Jumbo Refinance
The 2026 FHFA conforming baseline in Indiana is $832,750 for most counties, higher in designated high-cost areas. A refinance above the county limit is a jumbo loan, priced and underwritten lender by lender.
Jumbo refinances usually require a 700 or higher credit score, reserves of six to twelve months of payments, and a loan-to-value of 80% or less. Because balances are large, even a quarter-point rate difference is worth thousands a year, so compare the 30-Year Jumbo and 15-Year Jumbo tabs above closely. If paying the balance down to the conforming limit at closing is possible, conforming refinance pricing is often noticeably better.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Indiana refinance 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 Refinance Rate Data: We aggregate mortgage and refinance rates for 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. Where a lender publishes a product specifically for refinancing, that product is listed by name; where a lender publishes one rate sheet for purchase and refinance loans, that rate is shown as the refinance rate, which is how the lender itself quotes it.
Refinance Premium and HMDA Figures: The refinance premium is the average difference between a lender’s refinance-labeled product and the same lender’s standard product of the same term, computed nightly across lenders that publish both. It is shown for context and is never added to any rate in the tables. HMDA figures are median note rates on first-lien, owner-occupied, one-to-four-unit loans originated in the most recent reporting year, from the Consumer Financial Protection Bureau’s public Loan/Application Register.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available home loan products in 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 and refinance 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 Refinance Works in Indiana
A refinance pays off your current mortgage with a new loan on the same Indiana home. The new lender wires the payoff to the old lender at closing, and from that point you make payments on the new loan only. Because it is a brand-new mortgage, you go through an application, credit check, and usually an appraisal, and you pay closing costs, just as you did when you bought the home.
How Indiana Refinance Rates Compare to Purchase Rates
Most Indiana banks and credit unions post one rate sheet that applies to purchase and refinance loans alike, which is why the tables above show the same lenders you will find on our Indiana mortgage rates page. For example, Elements Financial Federal Credit Union is listing a Fixed-Rate Mortgage Refinance - 30-Year Fixed at 7.50% for either purpose. Some lenders price refinances separately and list them by name, such as Elements Financial Federal Credit Union’s Fixed-Rate Mortgage Refinance - 15-Year Fixed at 6.875%. Across lenders that post both, refinance pricing currently runs about 0.131 points above the same lender’s purchase rate nationally. Cash-out refinances, investment properties, and second homes carry pricing add-ons at every lender.
Finding Your Break-Even Point in Indiana
Divide total closing costs by the monthly payment savings and you get the number of months until the refinance has paid for itself. A Indiana homeowner who expects to sell before that month should not refinance, no matter how good the rate looks. The calculator above runs this math with today’s local rates. A shorter break-even, under three years, is a comfortable margin; anything past five years needs a long stay to pay off.
Refinance Closing Costs and No-Closing-Cost Loans in Indiana
Refinance closing costs in Indiana typically run two to five percent of the loan and include the lender’s origination fee, appraisal, title search and lender’s title policy, recording fees, and prepaid interest. Discount points are optional and buy the rate down. A no-closing-cost refinance rolls the fees into a higher rate or the loan balance. It is not free, but it can be the better choice for a homeowner likely to move or refinance again within a few years, because there is nothing to recoup.
When Indiana Homeowners Should Wait
Refinancing rarely pays when the new rate is less than half a point below the current one, when you are more than ten years into a 30-year loan and would reset the clock, or when your credit score has dropped since the original loan. Homeowners holding a rate from 2020 to 2022 are usually better served by keeping that loan and using a home equity loan or HELOC for cash needs. Our Indiana refinance rate trends above show where rates have been over the past 90 days, and the forecast gives a sense of where they may head, so you can decide whether to lock now or wait.
Frequently Asked Questions about Refinance Rates in Indiana
What are home loan refinance rates in Indiana (IN) today?
Are refinance rates higher than purchase mortgage rates in Indiana?
When does refinancing make sense in Indiana?
How soon can I refinance a mortgage in Indiana?
What is a rate-and-term refinance?
What is a cash-out refinance?
Does refinancing reset my 30-year term?
What are typical refinance closing costs in Indiana?
What is the difference between interest rate and APR on a refinance?
Should I lock my refinance rate?
How do I compare refinance lenders in Indiana?
How do I get refinance quotes in Indiana?
What are the best refinance rates in Indiana?
- Elements Financial Federal Credit Union: 7.50% (Fixed-Rate Mortgage Refinance - 30-Year Fixed)
- Old National Bank: 7.50% (Refinance - 30 Year Fixed)
- Advance Financial Federal Credit Union: 5.625% (30-Year Fixed Mortgage)
- Thrive Federal Credit Union: 5.75% (New Fixed Rate Mortgage - 30 Year Fixed)
- GenFed Financial Credit Union: 6.24% (30 Year Mortgage (Fixed))
Indiana Rates & Resources
Home Refinance Rates by City in Indiana (IN)
