Mortgage Rates in Peru, Indiana — March 2026
Updated March 2026 | Based on Peru market data and regional lending conditions
Peru is a growing city in Indiana with a population of 11,324. The current 30-year fixed mortgage rate in Peru is 6.88%, which is 0.23% above the national average. With a median home price of $180,000 and a 20% down payment of $36,000, homebuyers can expect a monthly principal and interest payment of approximately $946.
Current Mortgage Rates in Peru, IN
Below are the current average mortgage rates available in the Peru 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 | 6.88% | 6.65% | +0.23% |
| 15-Year Fixed | 6.09% | 5.89% | +0.2% |
| 5/1 ARM | 6.33% | 6.15% | +0.18% |
| FHA | 6.56% | 6.25% | +0.31% |
| VA | 6.31% | 6.05% | +0.26% |
| Jumbo | 7.13% | 6.85% | +0.28% |
Peru Housing Market Overview
The Peru housing market offers relatively affordable housing compared to many major cities. The median household income in Peru is $50,000, and the cost of living index is 81.7 (national average = 100). Based on the 28% affordability rule, the median income in Peru is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Peru
Based on the median home price of $180,000 with 20% down ($36,000), here is what you can expect to pay monthly in Peru:
15-Year vs. 30-Year Mortgage in Peru
Choosing a 15-year mortgage in Peru at 6.09% instead of a 30-year at 6.88% would save you $120,600 in total interest over the life of the loan. However, your monthly payment would be $1,222 instead of $946 — an increase of $276 per month.
Calculate Your Peru Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Peru
What are the current mortgage rates in Peru, IN?
As of March 2026, the average 30-year fixed mortgage rate in Peru, Indiana is 6.88%, while the 15-year fixed rate is 6.09%. FHA loans average 6.56% and VA loans 6.31%. These rates are 0.23% above the national average of 6.65%.
How much is a monthly mortgage payment in Peru?
Based on the median home price of $180,000 with 20% down, the estimated monthly mortgage payment in Peru is $946 for principal and interest. Including property taxes of $135/month, the total monthly housing cost is approximately $1,081.
What income do I need to buy a home in Peru?
Using the 28% rule, you would need an annual income of approximately $46,329 to afford the median-priced home in Peru at $180,000. The median household income in Peru is $50,000. The median income is currently sufficient to meet this threshold.
Is Peru a good place to buy a home in 2026?
Peru offers a below-average cost of living with a cost of living index of 81.7 (national average = 100). The property tax rate in Indiana is 0.9%, which is near the national average. Peru has a population of 11,324 and offers a very affordable lifestyle.
Mortgage Rates in Other Indiana Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Peru, Indiana area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.