Calculate Your Indiana Mortgage Payment
Our calculator is pre-filled with Indiana's median home price and property tax rate. Adjust the numbers to match your situation.
Open Calculator with IN DefaultsMonthly Payment Breakdown for Indiana
Here's what your monthly payment looks like on the median Indiana home ($262,265) with 20% down at 6.67%, the current average 30-year rate:
Note: This estimate assumes 20% down payment ($52,453), no PMI. With less than 20% down, add $87-$175/month for PMI.
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Indiana Property Taxes
Indiana's effective property tax rate is 0.77%, which is below the national average of 0.89%. See how property taxes are calculated and how they compare across states.
Annual Property Tax on $262,265 Home
$2,019
($168/month escrowed)
Buying a Home in Indiana: Key Facts
- Property tax rate of 0.77% is below the national average of 0.89%
- Very affordable median home price of $255,000 with reasonable property taxes
- First-time buyers must complete HUD-approved homebuyer education
- Local programs in Indianapolis, Bloomington, and Evansville supplement state assistance
Mortgage Calculators for Nearby States
Comparing homes across state lines? Check property taxes and home prices in neighboring states:
Indiana First-Time Homebuyer Programs
Indiana has 40 homebuyer assistance programs that can help with down payment and closing costs.
IHCDA First Step Program
Up to 6% of purchase price as second mortgage, no monthly payments
Deferred LoanIHCDA Next Home Program
Up to 3.5% of purchase price, forgiven after 3 years
Forgivable LoanINHP Marion County DPA
$7,500-$24,999 as forgivable second mortgage for buyers at 80% AMI
Forgivable LoanEligibility requirements typically include income limits, credit score minimums (usually 620+), and homebuyer education courses. Visit DownPaymentResource.com to search for programs you may qualify for.
Major Cities in Indiana
Home prices and property taxes can vary significantly by city. The median home value of $262,265 is a statewide estimate.
Indiana Mortgage FAQ
What is the property tax rate in Indiana?
The average effective property tax rate in Indiana is 0.77%. On a $262,265 home, that's approximately $2,019 per year or $168 per month added to your mortgage payment.
What is the median home value in Indiana?
The median home value in Indiana is $262,265 as of 2026-06-01. Prices vary by location - Indianapolis and Fort Wayne typically have higher prices than rural areas.
Are there first-time homebuyer programs in Indiana?
Yes, Indiana has 40 homebuyer assistance programs. Popular options include IHCDA First Step Program, which offers up to 6% of purchase price as second mortgage, no monthly payments.
How much do I need to buy a house in Indiana?
For the median Indiana home ($262,265), you'd need $52,453 for a 20% down payment, plus $7,868-$13,113 for closing costs. With down payment assistance, you could potentially buy with as little as $9,179 (3.5% FHA down payment).
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Calculate Your IN Mortgage Payment