Mortgage Rates in West Lafayette, Indiana — March 2026
Updated March 2026 | Based on West Lafayette market data and regional lending conditions
West Lafayette is a growing city in Indiana with a population of 49,668. The current 30-year fixed mortgage rate in West Lafayette is 6.73%, which is 0.08% above the national average. With a median home price of $207,000 and a 20% down payment of $41,400, homebuyers can expect a monthly principal and interest payment of approximately $1,072.
Current Mortgage Rates in West Lafayette, IN
Below are the current average mortgage rates available in the West Lafayette area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.73% | 6.65% | +0.08% |
| 15-Year Fixed | 5.97% | 5.89% | +0.08% |
| 5/1 ARM | 6.24% | 6.15% | +0.09% |
| FHA | 6.49% | 6.25% | +0.24% |
| VA | 6.24% | 6.05% | +0.19% |
| Jumbo | 6.98% | 6.85% | +0.13% |
West Lafayette Housing Market Overview
The West Lafayette housing market offers relatively affordable housing compared to many major cities. The median household income in West Lafayette is $51,400, and the cost of living index is 89.3 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $52,243 to comfortably afford the median-priced home in West Lafayette, which exceeds the current median household income.
Monthly Payment Breakdown for West Lafayette
Based on the median home price of $207,000 with 20% down ($41,400), here is what you can expect to pay monthly in West Lafayette:
15-Year vs. 30-Year Mortgage in West Lafayette
Choosing a 15-year mortgage in West Lafayette at 5.97% instead of a 30-year at 6.73% would save you $134,820 in total interest over the life of the loan. However, your monthly payment would be $1,395 instead of $1,072 — an increase of $323 per month.
Calculate Your West Lafayette Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in West Lafayette
What are the current mortgage rates in West Lafayette, IN?
As of March 2026, the average 30-year fixed mortgage rate in West Lafayette, Indiana is 6.73%, while the 15-year fixed rate is 5.97%. FHA loans average 6.49% and VA loans 6.24%. These rates are 0.08% above the national average of 6.65%.
How much is a monthly mortgage payment in West Lafayette?
Based on the median home price of $207,000 with 20% down, the estimated monthly mortgage payment in West Lafayette is $1,072 for principal and interest. Including property taxes of $147/month, the total monthly housing cost is approximately $1,219.
What income do I need to buy a home in West Lafayette?
Using the 28% rule, you would need an annual income of approximately $52,243 to afford the median-priced home in West Lafayette at $207,000. The median household income in West Lafayette is $51,400. This means most households would need to either earn above the median or consider homes below $207,000.
Is West Lafayette a good place to buy a home in 2026?
West Lafayette offers a below-average cost of living with a cost of living index of 89.3 (national average = 100). The property tax rate in Indiana is 0.85%, which is near the national average. West Lafayette has a population of 49,668 and offers a very affordable lifestyle.
Mortgage Rates in Other Indiana Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the West Lafayette, Indiana area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.