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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

$2,140

at 7.05% · 30-year fixed

  • Principal & interest

    $1,605

  • Property taxes

    $375

  • Homeowners insurance

    $160

Loan amount

$240,000

Total interest paid

$337,726

Payoff date

—

YOU'RE KEEPING $4,076

$4,076

stays in your pocket

That's your total savings over 30 years at today's best rate on NerdWallet (7.05%) vs. the 7.12% national average — $11 less every month.

  • Today's best rate: 7.05%

  • 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-rate7.374%7.379%
20-year fixed-rate7.274%7.279%
15-year fixed-rate6.487%6.496%
7-year ARM7.583%7.288%
5-year ARM7.375%6.964%
30-year fixed-rate VA6.625%6.971%
Data source: ©Zillow, Inc. 2006 – 2026. Use is subject to the Terms of Use

Today's rate

7.379%

30-year fixed

Today's mortgage rates in Alabama are 7.379% for a 30-year fixed, 6.496% 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
  2. Down payment
  3. Interest rate
  4. Loan term (years)
After you enter this information, the calculator displays the monthly payment, as well as:
  • Total principal
  • Total interest payments
  • Payoff date
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Calculating costs in addition to principal and interest

The calculator lets you fine-tune your payment by entering your annual property tax premium, annual home insurance premium, monthly homeowner association (HOA) fee, and monthly private mortgage insurance (PMI) premium.
To enter this information, click “Show Advanced Info” underneath the main loan details. Note that you'll enter the annual cost for property taxes and home insurance and the monthly cost for HOA fees and PMI premiums. The PMI field will only display if your down payment is less than 20%.
In the “Loan Estimate” window, select "Amortization Schedule" to uncover a table that shows how much you'll pay in principal and interest each month, as well as the remaining amount you owe ("Principal balance") after making the payment.
» MORE: What is mortgage amortization?

Explanation of terminology

  • Total monthly payment: An estimate of all your monthly housing costs, covering your loan principal, interest, taxes, insurance, and PMI.
  • Total principal: This is the amount you borrow. Each mortgage payment reduces the principal you owe.
  • Total interest payments: How much interest you would pay over the life of the loan.
  • Total loan payments: The entire amount of principal and interest paid, excluding taxes, insurance, and PMI.
  • Down payment: The portion of the home’s price you pay in cash upfront. 
  • Interest rate: How much the lender charges you to lend you the money. Interest rates are expressed as an annual percentage. A lower interest rate gives you a smaller monthly payment.
  • Loan term (years): The number of years you have to repay the mortgage. A longer term gives you a lower monthly payment, but you’ll pay more interest.
  • Start date: The month that your first mortgage payment is due.
  • Payoff date: The month your home will be fully paid off based on the loan term.
  • Property taxes: The annual tax assessed by a government authority on your home and land. You pay about one-twelfth of your annual property tax bill with each mortgage payment, and the servicer saves them in an escrow account. When the taxes are due, the loan servicer pays them.
  • Homeowners insurance: Your policy covers damage and financial losses from fire, storms, theft, a tree falling on your house and other bad things. As with property taxes, you pay roughly one-twelfth of your annual homeowners insurance premium each month, and the servicer pays the bill when it's due.
  • Monthly HOA fees: The amount you may pay each month if you belong to a homeowners association. Typically, these dues are billed directly, not added to the monthly mortgage payment. Because HOA dues can be easy to forget when considering the cost of homeownership, NerdWallet's mortgage calculator allows you to enter them here.
  • Private mortgage insurance: If you get a conventional mortgage and put down less than 20%, you’ll have to pay a monthly PMI premium. It covers the lender if you default on the loan and can be canceled once you reach 20% equity. FHA loans require a similar fee called a mortgage insurance premium. 
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
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