Mortgage guides and answers for Indiana buyers

Name: Dillon Baker at Rate (NMLS #2681440)
Address: 252 W Main St, Carmel, IN, 46032, US
Telephone: 317-847-6869

Everything Dillon gets asked, written down. Five guides that go deep on the questions that decide a purchase, and shorter answers to the narrow ones underneath them. If the question you have isn't here, text it to 317-847-6869 and it usually turns into the next piece.

This section exists because the same questions arrive by text every week, and a text answers one person once. A written answer holds still. Everything below was written by Dillon Baker, VP of Mortgage Lending at Rate, from files he has actually closed in Hamilton County and across Indiana, and every number in it carries the source it came from so you can check the work.

The guides are the long ones. Each covers a whole decision from the start, and each ends with the questions buyers ask about it. The answers underneath are narrower: one question, one page, a couple of minutes. Start wherever your question sits.

01Conforming and jumbo loan limits in Indiana for 2026The 2026 conforming loan limit is $832,750 in every Indiana county. What that means for a Carmel purchase, and where a jumbo loan actually starts.02Buying your first home in Hamilton County: the loan side, in orderWhat a first time buyer in Hamilton County actually needs: the programs, the IHCDA assistance rules, the documents, and the order it all happens in.03Getting a mortgage when you're self employed or paid on 1099How underwriters actually read self employed and 1099 income in Indiana, what write offs cost you, and when a bank statement loan is the better door.04Pre-approval, the documents and the timelineWhat a pre-approval actually is, the documents it needs, what a credit pull does to your score, and what turns a pre-approval into clear to close.05Financing a rental property in IndianaHow a rental property qualifies in Indiana, what a DSCR loan measures, and when a small landlord is better served by a conventional loan.

Start with the guide, then the answers underneath it

Each guide covers a whole decision and ends with the questions buyers ask about it. The shorter answers below take one narrow question each.

If you would rather just ask, text 317-847-6869. Dillon answers his own phone, and the questions that keep coming back end up written down here.

Answers, one question at a time

01How does an FHA 203(k) renovation loan work in Indiana?How an FHA 203(k) loan works for Indiana buyers: one mortgage for the purchase and the repairs, what work qualifies, and how contractor draws work.02What's the conforming loan limit in Carmel, Indiana?The 2026 conforming loan limit in Carmel is $832,750, the same as every Indiana county. Where the figure comes from and what it changes.03Do I need a jumbo loan to buy in Carmel?Whether a Carmel purchase needs a jumbo loan depends on the loan amount, not the price. How to work out which side of $832,750 you land on.04Is any part of Hamilton County eligible for a USDA loan?Parts of Hamilton County, Indiana are USDA eligible, including several zip codes near Noblesville and Sheridan. How eligibility is actually decided.05What credit score do you need for Indiana down payment assistance?IHCDA First Place currently asks for a minimum 640 credit score at a debt to income ratio of 45 percent or below, and 680 above it. What that means in practice.06How do lenders count 1099 income?Underwriters count 1099 and self employed income after business write offs, averaged over a period that usually spans two years. Why that lowers the number.07What's a bank statement loan?A bank statement loan qualifies a self employed borrower from deposits over 12 or 24 months instead of from tax returns. Who it fits and what it costs.08Does a mortgage pre-approval hurt your credit?A mortgage pre-approval is one hard inquiry, and the bureaus treat several mortgage inquiries in a short window as one event. What that means for you.09What does clear to close mean?Clear to close is the point where underwriting has no conditions left outstanding. What comes before it, and the four things that usually delay it.10How does a DSCR loan qualify a rental property?A DSCR loan compares the rent a property produces against the payment it carries. How the ratio works and when it beats a conventional investment loan.

Start with a text

Ask the one that isn't here

Text it to Dillon and he'll answer it himself, in plain English, usually within minutes.

Text 317-847-6869 or call, if you would rather skip the form.