Skip to content
Calculators ▾

Indiana mortgage calculator

Pre-filled for Indiana: the median home value ($245,000) and the state's effective property tax rate of 0.74%. Change anything to match your home.

Home price
Down payment$49,000
%
Interest rateAPR, fixed
%
Loan term
Extra monthly paymenttoward principal
/ mo

Estimated monthly payment

$1,539.93

Loan $196,000 · 20% down

  • Principal & interest$1,238.85
  • Property tax$151.08
  • Home insurance$150.00
See the month-by-month schedule →
Total interest
$249,990
Total cost
$554,379
Payoff time
30 yr
PMI paid
None

Principal vs. interest by year

1: Principal 2,191, Interest 12,67612: Principal 2,337, Interest 12,5293: Principal 2,494, Interest 12,3724: Principal 2,661, Interest 12,20545: Principal 2,839, Interest 12,0276: Principal 3,029, Interest 11,8377: Principal 3,232, Interest 11,6348: Principal 3,449, Interest 11,41789: Principal 3,680, Interest 11,18710: Principal 3,926, Interest 10,94011: Principal 4,189, Interest 10,67712: Principal 4,470, Interest 10,3971213: Principal 4,769, Interest 10,09714: Principal 5,088, Interest 9,77815: Principal 5,429, Interest 9,43716: Principal 5,793, Interest 9,0741617: Principal 6,181, Interest 8,68618: Principal 6,595, Interest 8,27219: Principal 7,036, Interest 7,83020: Principal 7,507, Interest 7,3592021: Principal 8,010, Interest 6,85622: Principal 8,547, Interest 6,32023: Principal 9,119, Interest 5,74724: Principal 9,730, Interest 5,1362425: Principal 10,381, Interest 4,48526: Principal 11,077, Interest 3,79027: Principal 11,818, Interest 3,04828: Principal 12,610, Interest 2,2562829: Principal 13,454, Interest 1,41230: Principal 14,359, Interest 51130
PrincipalInterest

Amortization schedule by year

YearPrincipalInterestBalance
1$2,191$12,676$193,809
2$2,337$12,529$191,472
3$2,494$12,372$188,978
4$2,661$12,205$186,317
5$2,839$12,027$183,478
Monthly payment$1,539.93

Ask Numlight

Ask in plain English. Every number comes from our tested calculators.

Educational only, not financial advice. Your question is processed by our AI provider; please don't include personal details.

Indiana at a glance

Effective property tax
0.74%
Rank (1 = highest)
29th of 51
Median home value
$243,500
Median tax bill
$1,798/yr

On the same $400,000 home, property tax in Indiana adds about $246.67/month, versus $296.67/month at the national rate.

Indiana mortgage payments by home price

Home pricePrincipal & interestProperty taxTotal / month
$125,000$632.07$77.08$859.15
$175,000$884.90$107.92$1,142.82
$250,000$1,264.14$154.17$1,568.31
$375,000$1,896.20$231.25$2,277.45
$500,000$2,528.27$308.33$2,986.60

20% down, 6.5% 30-year fixed (example rate), 0.74% property tax, $1,800/yr insurance, no HOA. Also see: how much house you can afford in Indiana.

Mortgage calculators for other states

Assumptions

  • Fixed interest rate for the full term.
  • Property tax, insurance and HOA stay constant (in reality they usually rise over time).
  • PMI applies only when the loan is over 80% of the home price, and stops once the balance reaches 78% of the original price.
  • Extra payments go entirely to principal.
  • Indiana figures: Effective rate = ACS median real estate taxes paid ÷ ACS median value, owner-occupied housing units, by state. Source: US Census Bureau ACS 2024.

Frequently asked questions

What is the property tax rate in Indiana?+

The effective property tax rate in Indiana is about 0.74% of home value a year (median taxes paid $1,798 on a median home worth $243,500). That's the 29th highest of 50 states and DC, and lower than the national 0.89%. Your actual bill depends on your county, city and exemptions.

What's the mortgage payment on a median-priced home in Indiana?+

For a $245,000 home with 20% down at an example 6.5% 30-year rate, the payment is about $1,539.93 a month, including $151.08 of property tax and $150.00 of insurance.

How much income do I need to buy a home in Indiana?+

To afford the median Indiana home ($245,000) under the 28/36 guideline with 10% down and no other debts, you'd need roughly $77,000 a year in gross income at a 6.5% rate.

Related calculators

Home affordability calculatorHow much house can I afford? Mortgage payoff calculatorHow much sooner can I pay off my mortgage? Mortgage refinance calculatorShould I refinance my mortgage? VA loan calculatorVA loan payment with the funding fee FHA loan calculatorFHA loan payment with mortgage insurance Conventional loan & PMI calculatorWhen will my PMI go away?

Last reviewed October 14, 2026. Calculator version 1.0.0. Sources: US Census Bureau, ACS 2024 1-year, Table B25103 (Median Real Estate Taxes Paid) · US Census Bureau, ACS 2024 1-year, Table B25077 (Median Value, Owner-Occupied). Results are estimates for educational purposes, not financial, tax or lending advice. How we check our numbers.