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Indiana Mortgage Calculator

Your monthly mortgage payment in Indiana, with Indiana's effective property tax rate (0.74%) built in, at this week's average rate. The calculator starts at the state's median home value, $218,200.

A $218,000 home with 20% down ($174,400 borrowed) at 7.28% over 30 years costs about $1,494 a month: $1,193 principal and interest plus $301 of tax, insurance and dues.

Monthly payment
$1,494.37
Principal and interest
$1,193.27
Tax, insurance, PMI and HOA
$301.10
Total interest over the loan
$255,176
Loan balance and interest paid over 30 years at 7.28%$0$100k$200k$300k051015202530Years━Balance owed━Interest paid so far
Download the schedule (CSV)
Amortization by year: $174,400 at 7.28%
YearInterestPrincipalBalance
1$12,641.06$1,678.13$172,721.87
2$12,514.73$1,804.46$170,917.40
3$12,378.89$1,940.30$168,977.10
4$12,232.83$2,086.36$166,890.74
5$12,075.77$2,243.42$164,647.31
6$11,906.89$2,412.31$162,235.01
7$11,725.29$2,593.90$159,641.11
8$11,530.03$2,789.17$156,851.94
9$11,320.06$2,999.13$153,852.80
10$11,094.29$3,224.90$150,627.90
11$10,851.52$3,467.67$147,160.23
12$10,590.48$3,728.71$143,431.51
13$10,309.79$4,009.41$139,422.10
14$10,007.96$4,311.23$135,110.87
15$9,683.42$4,635.78$130,475.10
16$9,334.44$4,984.75$125,490.34
17$8,959.20$5,360.00$120,130.34
18$8,555.70$5,763.49$114,366.85
19$8,121.83$6,197.36$108,169.49
20$7,655.30$6,663.89$101,505.59
21$7,153.65$7,165.54$94,340.05
22$6,614.24$7,704.96$86,635.09
23$6,034.21$8,284.98$78,350.11
24$5,410.53$8,908.66$69,441.44
25$4,739.90$9,579.30$59,862.14
26$4,018.78$10,300.42$49,561.73
27$3,243.37$11,075.82$38,485.91
28$2,409.60$11,909.60$26,576.31
29$1,513.06$12,806.14$13,770.17
30$549.02$13,770.17$0.00

This week's mortgage rates →

Monthly payment in Indiana by home price (20% down, 7%, 30 years, 0.74% tax, $2,000 insurance)

Home pricePrincipal and interestProperty taxTotal
$110,000$585$68$820
$160,000$852$99$1,117
$220,000$1,171$136$1,473
$330,000$1,756$204$2,127
$440,000$2,342$271$2,780

How this calculator works

As the mortgage calculator, with Indiana's effective property tax rate from the Census Bureau's American Community Survey 2020–2024 5-year estimates: median taxes $1,614 ÷ median value $218,200.

What it assumes

  • Home insurance varies a lot by state and area; enter your quote.
  • County property tax rates differ from the state figure; see the county pages.

Questions people ask

What is the mortgage payment on a median home in Indiana?

On $218,200 with 20% down at 7% over 30 years: about $1,161 principal and interest and $135 of property tax, $1,463 a month with $2,000 a year of insurance.

What is the median home value in Indiana?

$218,200 for owner-occupied homes (Census American Community Survey 2020–2024 5-year estimates), against $332,700 nationally.

How much is property tax in Indiana?

The effective rate is 0.74%, a median $1,614 a year. See Indiana's property tax page for every county we cover.

How much income do I need for a median Indiana home?

Under the 28% guideline, about $62,682 a year for the payment above; Indiana's median household income is $71,957.

Mortgage calculator by state

Related calculators

  • Mortgage CalculatorYour full monthly mortgage payment: principal and interest, property tax, insurance, PMI and HOA dues, at this week's average rate, with a yearly amortization schedule.
  • Indiana Property Tax CalculatorIndiana homeowners pay a median $1,614 a year in property tax, 0.74% of a median $218,200 home: the 30th highest effective rate of the 50 states and DC.
  • Home Affordability CalculatorThe home price your income supports under the 28/36 guideline lenders use, counting your other debts, down payment, taxes and insurance, at this week's average rate.

Sources

Updated by the RateHerald team. The maths is tested against worked examples; report a problem.