Indiana Mortgage Calculator (2026)

Rates as of Oct 22 2026 · county tax data: ACS 2020–2024, released 2026-01-29

Statewide avg. effective tax rate
0.74%
Median home value
$224,000
Home insurance (est.)
$1,600/yr

Estimated PITI at the Indiana median home price of $224,000, 20% down, 30-year fixed at 7.32%: $1,534/mo. The tax line uses Marion County (Indianapolis)'s effective rate of 0.91% and insurance of $1,600/yr — the calculator's default county. Buyer's transfer tax: no state transfer tax.

Payment calculator

Loan type
$
%
$44,800 cash
%
30-yr fixed base 7.32% · credit adj +0.00% → 7.32% · PMMS Oct 22 2026
Loan term
Credit score
sets local tax & insurance
Picking a county updates the local property tax rate and insurance estimate — your home price stays as entered.
Advanced — HOA & extra payments
$
$
Estimated monthly payment
$1,534.18/mo
$1,534/mo
Principal & interest$1,230.98
Property tax$169.87
Home insurance$133.33
Covers principal & interest, property tax, insurance and mortgage insurance (when it applies). HOA counts only if entered above — left blank it is $0.
Loan amount$179,200
Down payment$44,800
LTV80%
Total interest$263,953
Payoff date…
Cash to close (estimate)
Down payment$44,800
Closing costs (2%–5%)$4,480 – $11,200
Est. cash needed$49,280 – $56,000
Transfer tax: No state transfer tax
The 2%–5% covers lender & title fees only. Transfer tax is not part of the cash total — it is listed separately, and some cities levy their own on top.
Using Marion County (Indianapolis) effective rate 0.91% · insurance $1,600/yr
Amortization
Year 12
Principal paid
$31,654
Interest paid
$145,607
Still owed
$147,546
$300k$225k$150k$75k$0
08152330

All three lines are running totals since the loan started — not a breakdown of the monthly payment.

What local costs matter in Indiana?

Effective property tax rate ~0.76%, near the U.S. average
No state transfer tax — lower closing costs
Homestead deduction up to $45,000 plus supplemental credits
Circuit breaker caps owner-occupied tax at 1% of assessed value
All 92 Indiana counties — property tax rates
CountyEffective tax rateProperty tax /moInsurance (est.)
Marion County (Indianapolis)0.91%$$170$1,600/yr
Lake County0.92%$$172$1,650/yr
Allen County (Fort Wayne)0.79%$$147$1,500/yr
St. Joseph County (South Bend)0.86%$$161$1,550/yr
Adams County0.77%$$144$1,600/yr
Bartholomew County0.75%$$140$1,600/yr
Benton County0.77%$$144$1,600/yr
Blackford County0.81%$$151$1,600/yr
Boone County0.78%$$146$1,600/yr
Brown County0.44%$$82$1,600/yr
Carroll County0.56%$$105$1,600/yr
Cass County0.68%$$127$1,600/yr
Show all 92 counties
CountyEffective tax rateProperty tax /moInsurance (est.)
Clark County0.77%$$144$1,600/yr
Clay County0.41%$$77$1,600/yr
Clinton County0.6%$$112$1,600/yr
Crawford County0.75%$$140$1,600/yr
Daviess County0.69%$$129$1,600/yr
Dearborn County0.74%$$138$1,600/yr
Decatur County0.62%$$116$1,600/yr
DeKalb County0.62%$$116$1,600/yr
Delaware County0.75%$$140$1,600/yr
Dubois County0.66%$$123$1,600/yr
Elkhart County0.82%$$153$1,600/yr
Fayette County0.73%$$136$1,600/yr
Floyd County0.69%$$129$1,600/yr
Fountain County0.59%$$110$1,600/yr
Franklin County0.59%$$110$1,600/yr
Fulton County0.54%$$101$1,600/yr
Gibson County0.72%$$134$1,600/yr
Grant County0.72%$$134$1,600/yr
Greene County0.58%$$108$1,600/yr
Hamilton County0.88%$$164$1,600/yr
Hancock County0.66%$$123$1,600/yr
Harrison County0.53%$$99$1,600/yr
Hendricks County0.81%$$151$1,600/yr
Henry County0.73%$$136$1,600/yr
Howard County0.72%$$134$1,600/yr
Huntington County0.71%$$133$1,600/yr
Jackson County0.49%$$91$1,600/yr
Jasper County0.46%$$86$1,600/yr
Jay County0.6%$$112$1,600/yr
Jefferson County0.64%$$119$1,600/yr
Jennings County0.6%$$112$1,600/yr
Johnson County0.71%$$133$1,600/yr
Knox County0.68%$$127$1,600/yr
Kosciusko County0.6%$$112$1,600/yr
LaGrange County0.55%$$103$1,600/yr
LaPorte County0.77%$$144$1,600/yr
Lawrence County0.6%$$112$1,600/yr
Madison County0.74%$$138$1,600/yr
Marshall County0.66%$$123$1,600/yr
Martin County0.54%$$101$1,600/yr
Miami County0.6%$$112$1,600/yr
Monroe County0.71%$$133$1,600/yr
Montgomery County0.65%$$121$1,600/yr
Morgan County0.49%$$91$1,600/yr
Newton County0.77%$$144$1,600/yr
Noble County0.67%$$125$1,600/yr
Ohio County0.61%$$114$1,600/yr
Orange County0.58%$$108$1,600/yr
Owen County0.66%$$123$1,600/yr
Parke County0.49%$$91$1,600/yr
Perry County0.68%$$127$1,600/yr
Pike County0.78%$$146$1,600/yr
Porter County0.83%$$155$1,600/yr
Posey County0.62%$$116$1,600/yr
Pulaski County0.45%$$84$1,600/yr
Putnam County0.48%$$90$1,600/yr
Randolph County0.79%$$147$1,600/yr
Ripley County0.56%$$105$1,600/yr
Rush County0.65%$$121$1,600/yr
Scott County0.65%$$121$1,600/yr
Shelby County0.66%$$123$1,600/yr
Spencer County0.62%$$116$1,600/yr
Starke County0.61%$$114$1,600/yr
Steuben County0.57%$$106$1,600/yr
Sullivan County0.61%$$114$1,600/yr
Switzerland County0.45%$$84$1,600/yr
Tippecanoe County0.62%$$116$1,600/yr
Tipton County0.65%$$121$1,600/yr
Union County0.64%$$119$1,600/yr
Vanderburgh County0.8%$$149$1,600/yr
Vermillion County0.69%$$129$1,600/yr
Vigo County0.88%$$164$1,600/yr
Wabash County0.52%$$97$1,600/yr
Warren County0.5%$$93$1,600/yr
Warrick County0.67%$$125$1,600/yr
Washington County0.63%$$118$1,600/yr
Wayne County0.81%$$151$1,600/yr
Wells County0.54%$$101$1,600/yr
White County0.54%$$101$1,600/yr
Whitley County0.7%$$131$1,600/yr
Indiana state average0.74%$$138$1,600/yr
Monthly tax is estimated on a $224,000 home — the price in the calculator above. Effective rates — U.S. Census Bureau, ACS 2024 (5-yr).

† Rates marked with ≥ are conservative estimates. ACS suppresses median tax values above $10,001 for privacy, which makes the calculated rate a lower bound — the true rate is higher in Manhattan, parts of Long Island, northern New Jersey and other high-cost areas.

How Indiana compares

Indiana's statewide average effective rate is 0.74% — the 30th highest of the 51 covered here (the 50 states and DC), against a median of 0.8%. On the $224,000 home the calculator starts with, that is about $138 a month in property tax before any other cost. Property taxes by state ranks all 51 with median bills attached.

A state average hides the part that changes the bill. The county rows above run from 0.41% in Clay County to 0.92% in Lake County — roughly $95 a month apart on the same $224,000 home. That is why the county picker moves the payment more than the state picker does.

Insurance is the other line that follows the address: this page prices $1,600 a year as a state-level estimate, and home insurance by state covers how premiums are set and where they run highest. Below 20% down, PMI adds a third variable until the balance is back to 80% of the value.

The states nearest Indiana in the ranking are Kentucky (0.75%) and Virginia (0.73%).

Indiana mortgage FAQ

How much down payment do I need to buy a house in Indiana?

Conventional loans start at 3% down, but anything under 20% requires PMI until you reach 20% equity — PMI auto-cancels at 78% of the original home value under the Homeowners Protection Act. FHA loans start at 3.5% down, and VA / USDA loans offer 0% down for eligible borrowers. Those are the national minimums: a lender can set a higher floor for this state or for a given loan size.

Why do property taxes vary so much within Indiana?

Property taxes are layered by county, city and school district, so the effective rate differs block by block. The Indiana state average is about 0.74%, but counties in our table above range widely — always confirm the exact bill with the local County Assessor.

When does PMI go away?

Under the Homeowners Protection Act (1998) you can request PMI removal at 80% LTV, and lenders must automatically cancel it when the balance reaches 78% of the original home value. This calculator estimates that month for you and shows the lower payment after PMI drops.

Does this calculator include home insurance for Indiana?

Yes. The calculator pre-fills a typical Indiana premium of about $1,600 per year and updates it when you switch counties. Tornado alley's eastern edge: spring tornadoes, hail and severe storms drive rates, with winter freeze damage a smaller factor. Get real quotes before budgeting.

More free mortgage tools

affordability calculator — how much house can I afford →refinance calculator — break-even & savings →closing cost calculator — cash to close by state →
Sources

Freddie MacU.S. Census BureauFannie MaeU.S. Department of Housing and Urban Development (HUD)U.S. Department of Veterans AffairsPrivate mortgage insurersNAICState statutes and departments of revenue

Results are estimates for planning only and are not a loan approval. Property tax rates and insurance premiums vary by county, ZIP code, home age and coverage — confirm with the local County Assessor and insurer quotes. Rate default: Freddie Mac PMMS 30-yr fixed (7.32%, Oct 22 2026); the 20-yr default is an estimate derived from the PMMS 30-yr/15-yr spread (PMMS has no 20-yr series). Conventional credit pricing adds Fannie Mae loan-level price adjustments (effective 2026-10-01) on top of that base, anchored at the 740–759 tier, and PMI comes off a credit × LTV rate card — both are central estimates, not quotes. Loan minimums shown here are the national programs' floor; a lender may set a higher down payment, rate or fee for this state or this loan.