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Indiana Mortgage Calculator

Use this free Indiana mortgage calculator to estimate your monthly mortgage payments and annual amortization.

Loan details

%

Monthly payment

$2,119

at 6.92% · 30-year fixed

  • Principal & interest

    $1,584

  • Property taxes

    $375

  • Homeowners insurance

    $160

Loan amount

$240,000

Total interest paid

$330,187

Payoff date

—

YOU'RE KEEPING $13,365

$13,365

stays in your pocket

That's your total savings over 30 years at today's best rate on NerdWallet (6.92%) vs. the 7.15% national average — $37 less every month.

  • Today's best rate: 6.92%

  • Get your free rate with no credit impact

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No impact to your credit score

Calculated payments and savings are estimates. The calculator result does not constitute an offer for a loan and will not solicit a loan offer. Savings will depend on the actual amounts and rate for which you are approved, should you choose to apply.

Taking Out a Mortgage in Indiana

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Last updated November 19, 2025
Real estate markets can vary dramatically by location, which is why national housing averages don’t always reflect what buyers actually pay. Housing costs are just one part of affordability, and tools like a cost of living calculator can help show how factors such as taxes, utilities, and everyday expenses differ from place to place.
Mortgage costs in Indiana vary significantly depending on where you buy. In Marion County, home to Indianapolis, the typical monthly mortgage payment for a median-priced home was $1,532 in Q1 2025, based on a median home value of $261,386, according to the National Association of Realtors. By comparison, the national median monthly payment was $2,120 for a median-priced single-family home valued at $402,300.
Hamilton County, just north of Marion County, is pricier, reflecting the strong demand for Indianapolis’s northern suburbs, which are widely considered some of the most desirable places to live in the state. There, the typical monthly mortgage payment reached $2,694 for a median-priced home valued at $459,698.

Alabama mortgage and refinance rates today (APR)

ProductInterest rateAPR
30-year fixed-rate7.335%7.339%
20-year fixed-rate7.281%7.285%
15-year fixed-rate6.523%6.534%
7-year ARM7.667%7.331%
5-year ARM7.375%6.964%
30-year fixed-rate VA6.560%6.904%
Data source: ©Zillow, Inc. 2006 – 2026. Use is subject to the Terms of Use

Today's rate

7.339%

30-year fixed

Today's mortgage rates in Alabama are 7.339% for a 30-year fixed, 6.534% for a 15-year fixed, and 6.964% for a 5-year adjustable-rate mortgage (ARM).

Indiana's first-time home buyer programs

The Indiana Housing and Community Development Authority, or IHCDA, offers several loan programs to help qualified first-time home buyers get a mortgage.
» MORE: First-time home buyer programs by state

Average property tax by county

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in Indiana. Because assessed values aren't frequently updated, you may pay a higher rate at first but eventually you'll pay a similar rate.

CountyAvg. property tax rateMedian home value
Adams County0.67%$164,500
Allen County0.80%$200,100
Bartholomew County0.72%$207,800
Benton County0.72%$122,600
Blackford County0.86%$90,200
Boone County0.86%$359,100
Brown County0.49%$227,600
Carroll County0.55%$152,900
Cass County0.73%$110,600
Clark County0.73%$219,000
Clay County0.50%$130,000
Clinton County0.65%$140,100
Crawford County0.64%$105,500
Daviess County0.74%$174,000
Dearborn County0.73%$210,800
Decatur County0.58%$174,400
DeKalb County0.63%$157,700
Delaware County0.85%$135,800
Dubois County0.72%$187,000
Elkhart County0.82%$200,400
Fayette County0.68%$99,100
Floyd County0.68%$246,700
Fountain County0.59%$123,400
Franklin County0.59%$200,700
Fulton County0.57%$143,400
Gibson County0.67%$159,700
Grant County0.65%$115,400
Greene County0.71%$116,400
Hamilton County0.90%$388,100
Hancock County0.72%$273,900
Harrison County0.58%$202,900
Hendricks County0.84%$286,700
Henry County0.74%$124,900
Howard County0.70%$158,300
Huntington County0.75%$134,000
Jackson County0.57%$161,300
Jasper County0.51%$190,700
Jay County0.57%$101,500
Jefferson County0.66%$168,100
Jennings County0.65%$133,200
Johnson County0.73%$282,300
Knox County0.75%$122,100
Kosciusko County0.62%$210,700
LaGrange County0.50%$230,300
Lake County1.00%$225,200
LaPorte County0.81%$181,500
Lawrence County0.67%$146,700
Madison County0.75%$156,900
Marion County0.90%$216,800
Marshall County0.66%$170,800
Martin County0.58%$142,400
Miami County0.46%$112,800
Monroe County0.71%$273,900
Montgomery County0.60%$156,400
Morgan County0.50%$228,900
Newton County0.83%$147,900
Noble County0.66%$168,100
Ohio County0.66%$189,600
Orange County0.68%$125,100
Owen County0.68%$151,400
Parke County0.46%$121,500
Perry County0.63%$136,700
Pike County0.81%$127,000
Porter County0.85%$266,900
Posey County0.53%$200,900
Pulaski County0.56%$131,500
Putnam County0.44%$175,600
Randolph County0.78%$97,600
Ripley County0.57%$188,400
Rush County0.62%$147,200
Scott County0.66%$137,200
Shelby County0.67%$170,000
Spencer County0.59%$168,200
St. Joseph County0.88%$187,400
Starke County0.65%$145,600
Steuben County0.60%$187,500
Sullivan County0.63%$115,200
Switzerland County0.49%$162,000
Tippecanoe County0.66%$221,100
Tipton County0.66%$150,700
Union County0.76%$149,500
Vanderburgh County0.85%$165,800
Vermillion County0.77%$99,400
Vigo County0.85%$145,900
Wabash County0.49%$135,800
Warren County0.56%$151,400
Warrick County0.66%$250,400
Washington County0.61%$158,200
Wayne County0.82%$134,000
Wells County0.46%$161,300
White County0.55%$153,200
Whitley County0.73%$189,800
Source: American Communities Survey 2022, U.S. Census

How to use the mortgage calculator

To use our mortgage calculator, add your details to the following fields:
1. Home price: What you're hoping to spend on a home.
2. ZIP code: The home's location.
3. Down payment: How much cash you're paying upfront towards the home's price. This calculator defaults to showing a 20% down payment, but you can adjust it up or down by changing the dollar amount or the percentage. This calculator assumes you're using a conventional loan, so it will automatically add private mortgage insurance if the down payment amount is less than 20%.
4. Loan term: The default is 30 years, but you can also choose a shorter term.
5. Interest rate: Use today's average APR, enter the rate you've been quoted or use the lowest APR NerdWallet partners are offering today.
That's the least you can do. To get more accurate results, fill in the following four categories. (Estimates are fine, but this goes over how to get more specific numbers.)
6. Property taxes (per year): This is autofilled with an estimate, but property taxes vary tremendously throughout the country. Get more precise by looking up the tax rate where you're planning to buy or looking at the tax history for the home you're interested in. You can change the property tax amount by editing the dollar amount or the percentage.
7. Homeowners insurance (per year): Mortgage lenders require borrowers to have homeowners insurance. Not sure what you might pay? This calculator puts in an estimate, but you can use NerdWallet's home insurance calculator to fine-tune it. All you need to know is the property location and the rough amount you'd be looking to insure — use the home's price as a proxy.
8. HOA fees: If the home is part of a homeowners association, put the monthly dues here. (The calculator default is no HOA costs.) This is also information you can likely crib from a home's listing. One other note, if there are HOA fees but you're going to pay them directly rather than with an escrow account, you can omit them here.
9. PMI (monthly): If you've entered a down payment amount under 20%, this will autofill, since the calculator assumes you're using a conventional loan. PMI is tied to your credit score, so if you want a more accurate figure, pop over to NerdWallet's PMI calculator. If you're using a VA loan, you can zero this out, since VA loans do not require mortgage insurance. On the other hand, if you're getting an FHA loan, you'll have to pay mortgage insurance premiums regardless of your down payment amount. For more accurate payment info, use our FHA mortgage calculator.
The calculator's results will update as you adjust the numbers in these fields. The results show you the monthly payment, as well as:
  • Loan amount: How much you're actually borrowing in principal.
  • Total interest paid: How much interest you will pay over the life of the mortgage if you keep it until its term ends. (Most people sell or refinance well before that point, but it's still interesting info.)
  • Payoff date: If you kept the same loan for its entire term, here's the month and year when you'd own the home free and clear.
There's also a simple annual amortization schedule. Amortization shows how your mortgage payment changes over time. Even though the principal and interest payment doesn't change with a fixed-rate mortgage, the percentage of that payment that's going toward each component does. At the beginning of the loan, more goes toward interest; the closer to the end of the loan's term, the more of the payment goes toward principal. If you want a more detailed month-by-month look, yes, NerdWallet has an amortization calculator, too.
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CONSIDERING A REFI? If you're looking to see how much you could save by refinancing your mortgage, try NerdWallet's refinance calculator.
» MORE FOR CANADIAN READERS: Canada mortgage payment calculator