Indiana Mortgage Calculator
Estimate your monthly mortgage payment in Indiana with state-specific property tax, insurance, and homestead data pre-loaded. Median home value in Indiana is $235,000 with an effective property tax rate of 0.85%.
Mortgage Calculator
Estimate your monthly payment including taxes, insurance, and PMI.
Optional
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
Year 1 | $14,259.48 | $2,101.35 | $12,158.13 | $185,898.65 |
| 1 | $1,188.29 | $169.96 | $1,018.33 | $187,830.04 |
| 2 | $1,188.29 | $170.88 | $1,017.41 | $187,659.16 |
| 3 | $1,188.29 | $171.80 | $1,016.49 | $187,487.36 |
| 4 | $1,188.29 | $172.73 | $1,015.56 | $187,314.63 |
| 5 | $1,188.29 | $173.67 | $1,014.62 | $187,140.96 |
| 6 | $1,188.29 | $174.61 | $1,013.68 | $186,966.35 |
| 7 | $1,188.29 | $175.56 | $1,012.73 | $186,790.79 |
| 8 | $1,188.29 | $176.51 | $1,011.78 | $186,614.28 |
| 9 | $1,188.29 | $177.46 | $1,010.83 | $186,436.82 |
| 10 | $1,188.29 | $178.42 | $1,009.87 | $186,258.40 |
| 11 | $1,188.29 | $179.39 | $1,008.90 | $186,079.01 |
| 12 | $1,188.29 | $180.36 | $1,007.93 | $185,898.65 |
Year 2 | $14,259.48 | $2,242.07 | $12,017.41 | $183,656.58 |
Year 3 | $14,259.48 | $2,392.23 | $11,867.25 | $181,264.35 |
Year 4 | $14,259.48 | $2,552.44 | $11,707.04 | $178,711.91 |
Year 5 | $14,259.48 | $2,723.40 | $11,536.08 | $175,988.51 |
What is a Mortgage Calculator?
A mortgage calculator helps you estimate your total monthly housing payment, including principal, interest, property taxes, home insurance, and private mortgage insurance (PMI). This gives you a complete picture of what homeownership will cost each month.
Unlike a simple loan calculator, a mortgage calculator accounts for additional costs that come with buying a home. Property taxes and insurance are typically required by lenders to be included in your monthly payment through an escrow account.
All calculations happen in your browser. No financial data is sent to any server, so your information stays completely private.
Indiana Housing Snapshot
| Median Home Value | $235,000 |
| Effective Property Tax Rate | 0.85% |
| Estimated Annual Property Tax | $1,998 |
| State Income Tax | Flat 3.0% plus local county rates (typically 0.5% to 2%) |
| Homestead Exemption | Standard $48,000 plus supplemental 25% deduction on remaining value |
| Avg Homeowners Insurance | $1,620/yr |
| Transfer & Recording Taxes | No state real estate transfer tax |
What Makes Buying in Indiana Different
Indiana offers Midwestern affordability with constitutional caps on property tax that protect homeowners from sudden bill increases. Indiana's Circuit Breaker tax cap limits primary residence property tax to 1% of assessed value, with higher caps for rental and commercial property. The combination of low home prices (statewide median $235,000) and the property tax cap produces some of the most affordable total housing costs in the US. State income tax is a flat 3.0%, with county-level income taxes adding 0.5% to 2% on top depending on where you live. Indianapolis and Fort Wayne are the major metros, with high-income suburbs like Carmel and Fishers commanding premium prices. There is no state real estate transfer tax. Homeowners insurance averages $1,620, with the main risk drivers being severe thunderstorms and tornadoes during spring and summer months. Northern Indiana (South Bend, Elkhart) sees occasional lake-effect snow damage but is otherwise low-risk for insurance.
Top Cities in Indiana
| City | Median Home Value |
|---|---|
| Indianapolis | $245,000 |
| Fort Wayne | $195,000 |
| Evansville | $170,000 |
| South Bend | $185,000 |
| Carmel | $485,000 |
Indiana's constitutional Circuit Breaker caps property tax on owner-occupied primary residences at 1% of gross assessed value. Rental and other residential property is capped at 2%, and commercial property at 3%. If standard property tax calculation would exceed these caps, the bill is reduced to the cap amount. This provides strong protection against rapid valuation-driven tax increases.
Indiana provides a standard homestead deduction of $48,000 from assessed value, plus a supplemental deduction of 25% of remaining assessed value (35% on the first $600,000 in some county configurations). To qualify, the home must be your primary residence and you must file a homestead application with your county. The Circuit Breaker 1% cap applies after these deductions.
Yes. All 92 Indiana counties charge a county-level income tax (CAGIT, CEDIT, or COIT depending on county). Rates range from 0.5% in Lake County to over 2% in some smaller counties. This is paid through state withholding and stacked on top of the state's flat 3% rate. Combined effective rate ranges roughly 3.5% to 5% depending on county of residence.
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Mortgage Calculator
Estimate monthly mortgage payments including taxes, insurance, and PMI.