Median Total Costs
$3,902
−41.6% vs national ($6,680)
↓ $56 vs prior year
Median Rate
6.620%
+2.0% vs national (6.490%)
Median Origination
$1,572
Purchase Originations
71,927
Denial Rate
7.8%
vs national avg (9.0%)
Indiana is a judicial foreclosure state; lenders must file a lawsuit and obtain a court order before a property can be sold at foreclosure. The state uses mortgage instruments rather than deeds of trust. Indiana is not an attorney-closing-required state, so title companies and escrow agents routinely handle closings without mandatory attorney involvement. Indiana does not impose a state or county real estate transfer tax; instead, a nominal sales disclosure filing fee applies at recording. Title insurance rates in Indiana operate under a prior-approval system, meaning insurers must file rates with the Department of Insurance and obtain approval before use. Indiana does not impose a blanket ban on prepayment penalties, though federal rules under the Dodd-Frank Act limit them on qualified mortgages. The Indiana Department of Financial Institutions oversees state-chartered lenders and mortgage servicers and handles consumer complaints related to mortgage lending. Buyers should confirm current transfer fee amounts with their title company, as county-level rules vary.
Conventional loans dominate Indiana's purchase market, accounting for 68.7% of 2024 originations (48,503 loans) per HMDA data. FHA loans are the second most common at 21.6% (15,242 loans), a share that reflects Indiana's relatively affordable home prices and a buyer pool that includes many first-time purchasers with smaller down payments. VA loans represent 7.5% of volume (5,331 loans), consistent with a moderate military presence in the state. USDA loans make up 2.2% (1,549 loans), reflecting rural and suburban areas across Indiana that qualify for USDA Rural Development financing.
Ruoff Mortgage Company, Inc.
Ruoff Mortgage is headquartered in Fort Wayne, Indiana, and led all Indiana purchase originations in the 2024 HMDA data with 5,394 loans. Its median total closing costs of $3,152 were among the lowest of the top-five lenders by volume.
GVC Mortgage, Inc.
GVC Mortgage is an Indiana-based lender with a network of branches concentrated in the Midwest. It ranked third by purchase origination volume in Indiana in 2024, with 2,785 loans originated in the state.
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage ranked fifth by Indiana purchase volume in 2024 with 2,642 originations and posted a median total closing cost of $4,589, sitting in the middle of the top-five lenders on that measure.
| Loan type | Volume | Median Rate | Median Total Costs |
|---|---|---|---|
| conventional | 48,839 | 6.625% | $3,342 |
| fha | 15,918 | 6.500% | $8,113 |
| va | 5,579 | 6.250% | $4,241 |
| usda | 1,591 | 6.500% | $5,258 |
Ranked by median total loan costs among lenders with 50+ purchase originations in Indiana.
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $501 | 6.812% | $0 | 50 | −$3,401 | |
| 2 | $774 | 7.750% | $0 | 59 | −$3,128 | |
| 3 | $1,231 | 5.500% | $0 | 576 | −$2,671 | |
| 4 | $1,810 | 6.750% | $750 | 67 | −$2,092 | |
| 5 | $1,934 | 6.250% | $430 | 202 | −$1,968 | |
| 6 | $1,935 | 8.000% | $1,579 | 514 | −$1,967 | |
| 7 | $2,024 | 6.500% | $0 | 297 | −$1,878 | |
| 8 | $2,132 | 6.500% | $799 | 58 | −$1,770 | |
| 9 | $2,152 | 6.125% | $0 | 391 | −$1,750 | |
| 10 | $2,168 | 6.500% | $770 | 78 | −$1,734 | |
| 11 | $2,248 | 6.625% | $500 | 627 | −$1,654 | |
| 12 | $2,304 | 6.750% | $700 | 123 | −$1,598 | |
| 13 | $2,338 | 6.750% | $825 | 186 | −$1,564 | |
| 14 | $2,358 | 6.000% | $850 | 286 | −$1,544 | |
| 15 | $2,383 | 6.875% | $850 | 227 | −$1,519 | |
| 16 | $2,405 | 4.990% | $125 | 217 | −$1,497 | |
| 17 | $2,406 | 6.500% | $813 | 54 | −$1,496 | |
| 18 | $2,418 | 6.625% | $825 | 51 | −$1,484 | |
| 19 | $2,426 | 6.625% | $775 | 67 | −$1,476 | |
| 20 | $2,444 | 6.750% | $1,035 | 136 | −$1,458 | |
| 21 | $2,513 | 6.500% | $980 | 67 | −$1,389 | |
| 22 | $2,545 | 6.750% | $1,025 | 139 | −$1,357 | |
| 23 | $2,552 | 6.250% | $250 | 71 | −$1,350 | |
| 24 | $2,554 | 6.500% | $816 | 82 | −$1,348 | |
| 25 | $2,574 | 6.625% | $795 | 413 | −$1,328 |
Includes lenders with 50+ purchase originations in Indiana. Source: HMDA 2025. Sorted by median total loan costs.
Indiana's total closing costs tend to land well below national norms, but the cost structure varies significantly by loan type. Conventional loans carried a median of $3,319 in total costs, while FHA loans reached $8,300 — largely because FHA's upfront mortgage insurance premium adds a substantial fixed charge regardless of purchase price. VA and USDA loans fell in between, at $4,793 and $5,148 respectively, each carrying their own government-mandated fees. Among the line items buyers can shop, lender origination charges and title insurance premiums offer the most room for comparison. Third-party fees — appraisal, settlement, and title search — vary by provider and are worth collecting quotes on. Indiana's lower home prices also help keep loan-amount-dependent fees, such as a percentage-based origination charge, naturally smaller than in higher-cost states.
Got a Indiana Closing Disclosure or Loan Estimate?
HMDA medians tell you what Indiana lenders usually charge. Upload your paperwork to see exactly how your quote compares — and get a ready-to-send negotiation email.
See user-reported fees for lenders serving Indiana →
Grades A–F from verified closing disclosure and loan estimate uploads — not industry medians.
Marion County
9,342 originations
Hamilton County
5,633 originations
Lake County
4,720 originations
Allen County
4,671 originations
Hendricks County
2,842 originations
Johnson County
2,625 originations
St. Joseph County
2,436 originations
Porter County
1,944 originations
Vanderburgh County
1,861 originations
Clark County
1,851 originations
Hancock County
1,780 originations
Elkhart County
1,741 originations
Tippecanoe County
1,679 originations
Madison County
1,423 originations
Boone County
1,255 originations
Howard County
1,113 originations
Delaware County
1,036 originations
Monroe County
1,032 originations
Floyd County
1,030 originations
Morgan County
1,007 originations
Bartholomew County
940 originations
Vigo County
918 originations
LaPorte County
802 originations
Kosciusko County
796 originations
Warrick County
727 originations
Shelby County
531 originations
DeKalb County
530 originations
Wayne County
524 originations
Grant County
524 originations
Dearborn County
518 originations
Montgomery County
461 originations
Henry County
450 originations
Lawrence County
439 originations
Harrison County
426 originations
Noble County
386 originations
Whitley County
374 originations
Jackson County
364 originations
Huntington County
361 originations
Marshall County
360 originations
Putnam County
360 originations
Steuben County
335 originations
Jefferson County
329 originations
Jasper County
325 originations
Cass County
322 originations
Gibson County
316 originations
Wells County
314 originations
Scott County
308 originations
Dubois County
297 originations
Clinton County
295 originations
Knox County
278 originations
Greene County
275 originations
LaGrange County
272 originations
Wabash County
261 originations
Posey County
260 originations
Washington County
250 originations
Miami County
248 originations
Decatur County
242 originations
Adams County
241 originations
Clay County
232 originations
Jennings County
227 originations
Ripley County
225 originations
Starke County
221 originations
Randolph County
210 originations
White County
200 originations
Fulton County
194 originations
Carroll County
190 originations
Fayette County
188 originations
Daviess County
185 originations
Perry County
180 originations
Sullivan County
169 originations
Tipton County
165 originations
Owen County
162 originations
Spencer County
153 originations
Franklin County
150 originations
Vermillion County
147 originations
Newton County
147 originations
Rush County
147 originations
Fountain County
141 originations
Orange County
141 originations
Brown County
136 originations
Jay County
129 originations
Blackford County
106 originations
Parke County
106 originations
Benton County
102 originations
Pike County
102 originations
Switzerland County
101 originations
See Indiana closing cost details, fee benchmarks, and county comparisons → Indiana Closing Costs Guide
Found your lender? Make sure their quote is fair.
HMDA data shows industry-wide medians. Your actual quote may differ. Upload your Closing Disclosure or Loan Estimate to see exactly where your fees stand — and get a ready-to-send negotiation email.
Data source: HMDA Modified Loan Application Register 2025, published by the Consumer Financial Protection Bureau (CFPB).
Statistics reflect originated first-lien purchase mortgages on owner-occupied principal residences. Medians exclude loans with exempt or unreported fee disclosures. Learn more at ffiec.cfpb.gov.