The next step is hunting down the best mortgage for that Elkhart home for purchasing or refinancing. An excellent starting point is here: simply give us an idea of the type of loan you want. You will receive bids from multiple Elkhart lenders that will compete to provide a loan at the lowest rate, matching you with nearly 6 Elkhart mortgage lenders. Your mortgage may be for a new home, refinancing or perhaps a home equity loan - in any case, the best way to start is to see what everybody offers.

How much of a Mortgage?

Mortgage affordability is important to the bank, but crucial for you. As of 2005, the average Elkhart mortgage payment was $757 which will give you an idea of what you can expect even with historically low rates. Our mortgage calculator will help you plug in the critical components so that you can determine how large a home loan is reasonable for your Elkhart home.

Elkhart is a major city in Indiana with no shortage of reputable mortgage lending institutions. These include financial houses working with us such as: Credit Union Mortgage Company, Bayer Federal Credit Union, Integrity Mortgage Group Inc, Home America Mortgage Inc.Patriot Acceptance Corp.One Stop Mortgage llc.

Elkhart Mortgage & Real Estate Market

In 2006 Elkhart housing sales were at an all time high; down recently but leveling off. As of 2005, the median home value in Elkhart was $78,200. This number is big in comparison to the median home value back in 2000 of $78,200. Elkhart has a solid home ownership base with 21,688 houses and apartments and 50% of those are occupied by their owners. Despite the current market, historically Elkhart has been a city where people move, buy and stay - with 54% of homeowners currently paying off a mortgage. About 18% of the city's current homeowners are carrying a second mortgage or home equity loan.

Gateway Mortgage
252 Ortonville Road Suite B Ortonville, MI	Phone: 877-291-5626 OR 248-627-7283 Ask for: Dwyer Lisa
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Housing	Elkhart, IN	United States
Homes Owned	49.87%	64.07%
Home Appreciation	4.20%	9.80%
Median Home Cost	$100,400	$217,200
Homes Rented	42.56%	21.45%

Location	Population	Median Family Income (2005)
Anderson	59,734	$32,577
Bloomington	69,291	$25,377
Carmel	37,733	$81,583
Columbus	39,059	$41,723
Elkhart	51,874	$34,863
Evansville	121,582	$31,963

Category	Value
Home Equity Loan Only	9%
First Mortgage Only	54%
Homes With No Mortgage	29%
2nd Mortgage or Home Equity	18%
Second Mortgage Only	9%

Mortgage Type	Today	Last Week	Change
30 yr fixed	6.03	6.24	0.035%
15 yr fixed	5.47	5.72	0.046%
5/1 ARM	5.34	5.43	0.017%
3/1 ARM	5.48	5.42	0.011%

Your dream of home ownership, refinancing, or using your homes equity might just be an
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