Home values rose 4.2 % year-over-year through March, but they’re still playing catch-up to the rest of the state after a decade of flat growth, which means you’re buying on the right side of the curve. Entry-level inventory under $150K is tightening—only 1.9 months of supply—while move-up homes between $150K and $250K sit closer to 3.5 months, giving negotiating room. Cash investors have pulled back since 2022, so FHA and VA offers are winning again, especially when NMHL pairs them with a Local Love earnest-money grant that covers up to $1,500 of your deposit.

• Median list price: $119,900
• Average days on market: 22
• Share of price reductions: 18 % (mostly $175K+ tier)
• New construction permits up 14 % in Davis, Otter, and Lost Creek townships

If you’re targeting the $90K-$130K sweet spot, expect multiple offers but not bidding wars—plan for 1-2 % over ask and a 30-day close to stay competitive.

North Terre Haute (47804) – Tree streets like Maple and Mulberry offer 1,400-sq-ft Craftsman homes for $95K-$120K; walk to the ISU campus for rental upside later. Infrastructure upgrades on 19th Street have pushed values up 6 % annually, but deals still appear.

Allendale (47803) – Quiet, USDA-eligible pocket south of the airport. Expect 1970s brick ranches on half-acre lots, $110K-$140K, with top-rated Dixie Bee Elementary feeding into Terre Haute North.

12 Points / Maple Avenue Historic District – If you crave character, 1920s Tudor and Colonial Revivals trade here for $125K-$160K. IHCDA’s Purchase-Repair program bundles acquisition and renovation at one low fixed rate—perfect for updating leaded-glass windows and original hardwood.

Southwood Park – Mid-century splits, walkable to Union Hospital and the country club. Values tick toward $150K, but FHA 203(k) streamline loans let you roll a new roof and HVAC into one note.

With the 181st Intelligence Wing at Hulman Field and a large retiree population, Terre Haute sees heavy VA loan activity—and NMHL has built a zero-lender-fee VA option that saves veterans about $1,100 at closing. You can buy up to the county loan limit ($766,550 in 2024) with zero down, and the VA funding fee drops to 1.25 % if you put 5 % down—easy on a $115K purchase. Because VA appraisals here historically come in at or above contract, we waive the appraisal contingency gap guarantee for qualified buyers, making your offer as strong as cash.

Added perk: Vigo County Recorder will file your discharge paperwork for free, speeding up the Certificate of Eligibility turnaround to 48 hours when we submit through the VA Portal.

Don’t let the old “Factory Town” label fool you—gig workers and independent contractors now make up 12 % of Vigo County’s workforce. NMHL’s 12-month bank-statement program counts 100 % of deposits on personal statements or 85 % on business statements, whichever yields the higher income. We average the last 12 months, ignore the loss-year write-offs that tank your Schedule C, and can approve up to 90 % LTV on loans up to $650K—plenty of headroom in Terre Haute.

If you drive for Uber between ISU games or run an Etsy shop out of a Prairieton barn, you only need a 660 score for the 90 % tier; drop to 80 % LTV and we can go to 620. Combine that with IHCDA’s tax-credit mortgage credit certificate (MCC) and you’ll shave up to $2,000 off your federal tax bill every year for the life of the loan, effectively lowering your rate by 0.75 %.

Taxes are billed twice yearly (May & November) and run 0.85 % of assessed value, but only after the homestead, mortgage, and supplemental deductions. On a $115,000 purchase, expect an assessed value near $92,000 after the 1 % cap, translating to roughly $780 annually—one of the lowest effective rates in Indiana. Veterans with 10 % service-connected disability can knock another $24,960 off assessed value, while seniors 65+ earning under $30K may freeze the tax bill entirely.

Appeals are common since Vigo County’s last full reassessment was 2019; if your purchase price is far below the assessed figure, file Form 130 within 45 days of closing and NMHL will front the $25 fee. Our clients average a 7 % reduction, saving about $55 per year—small, but it adds up over a 30-year mortgage.

Whether you’re eyeing a $89K fixer on North 13th or a $165K new build in Idle Creek, NMHL’s digital engine pulls local credit, Vigo County tax, and current PMI rates to give you a bulletproof pre-approval letter while other buyers are still uploading paystubs. Upload bank statements or authorize our secure portal to import them; our underwriters review everything within four business hours. We’ll even run dual AUS (Fannie and Freddie) plus a manual underwrite backup so you know your worst-case scenario before you tour houses.

Ready? Click “Apply Now,” select Terre Haute as your purchase city, and lock a 75-day rate for free while you shop. Questions? Call 812-555-HOME to speak with Sarah, our Terre Haute market manager, or book a same-day Zoom consult. Let’s make the Crossroads of America your front door.