Indiana Mortgage Calculator
Estimate your monthly mortgage payment in Indiana. On the state's median home value of $230,000, with a 20% down payment at today's rates, expect a total monthly payment (principal, interest, taxes, and insurance) around $1,443. Adjust every input for your situation.
Monthly Breakdown
- Principal & Interest$1,163
- Property Tax$163
- Home Insurance$117
Amortization Schedule
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $13,956 | $2,057 | $11,899 | $181,943 |
| 2 | $13,956 | $2,194 | $11,762 | $179,749 |
| 3 | $13,956 | $2,341 | $11,615 | $177,408 |
| 4 | $13,956 | $2,498 | $11,458 | $174,910 |
| 5 | $13,956 | $2,665 | $11,291 | $172,244 |
| 6 | $13,956 | $2,844 | $11,112 | $169,400 |
| 7 | $13,956 | $3,034 | $10,922 | $166,366 |
| 8 | $13,956 | $3,238 | $10,718 | $163,128 |
| 9 | $13,956 | $3,454 | $10,502 | $159,674 |
| 10 | $13,956 | $3,686 | $10,270 | $155,988 |
| 11 | $13,956 | $3,933 | $10,023 | $152,055 |
| 12 | $13,956 | $4,196 | $9,760 | $147,859 |
| 13 | $13,956 | $4,477 | $9,479 | $143,382 |
| 14 | $13,956 | $4,777 | $9,179 | $138,606 |
| 15 | $13,956 | $5,097 | $8,859 | $133,509 |
| 16 | $13,956 | $5,438 | $8,518 | $128,071 |
| 17 | $13,956 | $5,802 | $8,154 | $122,268 |
| 18 | $13,956 | $6,191 | $7,765 | $116,078 |
| 19 | $13,956 | $6,606 | $7,351 | $109,472 |
| 20 | $13,956 | $7,048 | $6,908 | $102,424 |
| 21 | $13,956 | $7,520 | $6,436 | $94,904 |
| 22 | $13,956 | $8,024 | $5,933 | $86,881 |
| 23 | $13,956 | $8,561 | $5,395 | $78,320 |
| 24 | $13,956 | $9,134 | $4,822 | $69,186 |
| 25 | $13,956 | $9,746 | $4,210 | $59,440 |
| 26 | $13,956 | $10,399 | $3,557 | $49,041 |
| 27 | $13,956 | $11,095 | $2,861 | $37,946 |
| 28 | $13,956 | $11,838 | $2,118 | $26,108 |
| 29 | $13,956 | $12,631 | $1,325 | $13,477 |
| 30 | $13,956 | $13,477 | $479 | $0 |
Swipe the table sideways to see all columns →
How to use it
A two-minute guide.
The Home Price field is pre-filled with Indiana's median home value (about $230,000). Override with your target home's actual price for a property-specific estimate.
The Property Tax Rate is pre-filled with Indiana's average effective rate of 0.85%. Within Indiana, rates vary by county — if you know your specific local rate from your county assessor or last tax bill, override it for a more precise estimate.
The Home Insurance default reflects Indiana's typical annual premium of approximately $1,400.
Adjust the Down Payment slider to compare scenarios. Below 20% down triggers PMI; the calculator adds it automatically and flags it.
How it works
The math behind the result.
The Indiana median home, in dollar terms. At $230,000 with a 20% down payment, you bring $46,000 to closing (plus closing costs) and take out a $184,000 mortgage. At today's 6.50% 30-year fixed rate, your monthly principal and interest is roughly $1,163.
Indiana's ongoing housing costs. The state's average property tax rate of 0.85% produces about $1,955 per year on a median-priced home — typically paid through escrow with your mortgage. Insurance averages $1,400/year in Indiana.
Total monthly payment (PITI) on the median Indiana home works out to about $1,443/month at current rates with 20% down and no HOA. Putting less down adds PMI; HOA dues add separately if your specific neighborhood requires them.
Your specific city matters. Median home prices vary widely within Indiana — major cities are usually 30-100% above the state median, rural areas can be well below. For city-specific calculators with local home prices pre-filled, use the city links below.
Questions
Frequently asked.
Want a more local estimate? See our city-specific Indiana mortgage calculators or check Indiana property tax rates.
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