Indiana Mortgage Calculator

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

Total monthly payment

$2,104.90

Total principal

$240,000

Total interest payments

$325,163.89

Total loan payments

$565,163.89

Payoff date

—

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620

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3%

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4.0

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N/A

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on Rocket Mortgage, LLC

Rocket Mortgage, LLC

4.5

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580

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3.5%

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600

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Taking Out a Mortgage in Indiana

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Last updated 11/19/2025

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)

Accurate as of 08/25/2026.

Product	Interest rate	APR
30-year fixed-rate	6.820%	6.822%
20-year fixed-rate	6.724%	6.732%
15-year fixed-rate	5.945%	5.954%
7-year ARM	6.982%	6.821%
5-year ARM	7.375%	6.964%
30-year fixed-rate VA	5.972%	6.307%

Data source: ©Zillow, Inc. 2006 – 2026. Use is subject to the Terms of Use

Today's rate

6.822%

30-year fixed

Today's mortgage rates in Alabama are 6.822% for a 30-year fixed, 5.954% 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.

County	Avg. property tax rate	Median home value
Adams County	0.67%	$164,500
Allen County	0.80%	$200,100
Bartholomew County	0.72%	$207,800
Benton County	0.72%	$122,600
Blackford County	0.86%	$90,200
Boone County	0.86%	$359,100
Brown County	0.49%	$227,600
Carroll County	0.55%	$152,900
Cass County	0.73%	$110,600
Clark County	0.73%	$219,000
Clay County	0.50%	$130,000
Clinton County	0.65%	$140,100
Crawford County	0.64%	$105,500
Daviess County	0.74%	$174,000
Dearborn County	0.73%	$210,800
Decatur County	0.58%	$174,400
DeKalb County	0.63%	$157,700
Delaware County	0.85%	$135,800
Dubois County	0.72%	$187,000
Elkhart County	0.82%	$200,400
Fayette County	0.68%	$99,100
Floyd County	0.68%	$246,700
Fountain County	0.59%	$123,400
Franklin County	0.59%	$200,700
Fulton County	0.57%	$143,400
Gibson County	0.67%	$159,700
Grant County	0.65%	$115,400
Greene County	0.71%	$116,400
Hamilton County	0.90%	$388,100
Hancock County	0.72%	$273,900
Harrison County	0.58%	$202,900
Hendricks County	0.84%	$286,700
Henry County	0.74%	$124,900
Howard County	0.70%	$158,300
Huntington County	0.75%	$134,000
Jackson County	0.57%	$161,300
Jasper County	0.51%	$190,700
Jay County	0.57%	$101,500
Jefferson County	0.66%	$168,100
Jennings County	0.65%	$133,200
Johnson County	0.73%	$282,300
Knox County	0.75%	$122,100
Kosciusko County	0.62%	$210,700
LaGrange County	0.50%	$230,300
Lake County	1.00%	$225,200
LaPorte County	0.81%	$181,500
Lawrence County	0.67%	$146,700
Madison County	0.75%	$156,900
Marion County	0.90%	$216,800
Marshall County	0.66%	$170,800
Martin County	0.58%	$142,400
Miami County	0.46%	$112,800
Monroe County	0.71%	$273,900
Montgomery County	0.60%	$156,400
Morgan County	0.50%	$228,900
Newton County	0.83%	$147,900
Noble County	0.66%	$168,100
Ohio County	0.66%	$189,600
Orange County	0.68%	$125,100
Owen County	0.68%	$151,400
Parke County	0.46%	$121,500
Perry County	0.63%	$136,700
Pike County	0.81%	$127,000
Porter County	0.85%	$266,900
Posey County	0.53%	$200,900
Pulaski County	0.56%	$131,500
Putnam County	0.44%	$175,600
Randolph County	0.78%	$97,600
Ripley County	0.57%	$188,400
Rush County	0.62%	$147,200
Scott County	0.66%	$137,200
Shelby County	0.67%	$170,000
Spencer County	0.59%	$168,200
St. Joseph County	0.88%	$187,400
Starke County	0.65%	$145,600
Steuben County	0.60%	$187,500
Sullivan County	0.63%	$115,200
Switzerland County	0.49%	$162,000
Tippecanoe County	0.66%	$221,100
Tipton County	0.66%	$150,700
Union County	0.76%	$149,500
Vanderburgh County	0.85%	$165,800
Vermillion County	0.77%	$99,400
Vigo County	0.85%	$145,900
Wabash County	0.49%	$135,800
Warren County	0.56%	$151,400
Warrick County	0.66%	$250,400
Washington County	0.61%	$158,200
Wayne County	0.82%	$134,000
Wells County	0.46%	$161,300
White County	0.55%	$153,200
Whitley County	0.73%	$189,800

Source: American Communities Survey 2022, U.S. Census

How to use the mortgage calculator

To use our mortgage calculator, simply add your details to the following fields:

Home price
Down payment
Interest rate
Loan term (years)

After you enter these four pieces of information, the calculator displays the monthly payment inside the "Loan Estimate" window. It also displays:

Total principal
Total interest payments
Total loan 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.