Indiana Mortgages

Written by Beth Hrusch
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In Indiana, mortgages for a variety of needs are available both online and through local lenders. Most mortgages are procured through either a mortgage company, bank or broker. Within the state, all lenders are regulated by state law, which contains stipulations about such aspects as loan fees and the rights of the consumer when using lenders and brokers to get a mortgage.

Indiana Home Mortgages

Many brokers and mortgage companies that are licensed to operate in Indiana also serve customers in other states. As in other states, Indiana lenders must first obtain a loan license in order to engage in loan transactions. An exception is a lender making only first lien loans. Lending money to someone as part of a business transaction, for example, is a transaction that is exempt from regulation.

A directory of Indiana lenders is available on the Internet. Many specialize in bad credit loans or first-time home buyers. Commercial and investment loans, traditional home mortgages and refinance loans are other types of loans that are serviced and regulated in the state.

An experienced lender licensed in the state of Indiana will be familiar with state laws governing these transactions. For example, there are requirements made of lenders regarding when fees can be charged and in what amount. Other rules apply to all home loans, and can be explained by the lender. Indiana residents have many options in home mortgages and many resources to help them make an educated decision.


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