US mortgage calculator (all states)
Indiana combines affordable Midwest home prices — median near $255,000 in 2026 — with relatively low property taxes. The effective rate is about 0.85%, so annual tax on a typical home is roughly $2,170. Indianapolis logistics and manufacturing support steady demand; Chicago spillover affects northwest counties. IHCDA helps first-time buyers with state-backed loans and assistance.
Current Rates (Freddie Mac PMMS)
30-Year Fixed: 15-Year Fixed: Rates verified Oct 21, 2026
Adjust values — results update instantly.
State: Indiana (median-style home price, tax, and insurance pre-filled — edit as needed)
Illustrative property tax and insurance — homestead caps affect actual bills. Not a loan offer.
Dollar amount. PMI applies when under 20% of home price.
PMI is estimated at 0.5% of the loan amount per year when your down payment is below 20% of the purchase price.
Total monthly payment
$1,612
| Location | Median price | Notes |
|---|---|---|
| Indiana (state) | ~$255,000 | Illustrative median |
| Indianapolis metro | ~$260,000–$320,000 | Carmel, Fishers premium |
| Fort Wayne | ~$200,000–$260,000 | Northeast hub |
| Bloomington | ~$300,000+ | University demand |
| Northwest (Chicago metro) | Wide range | Commute-driven |
| Cost | Rate/amount | Notes |
|---|---|---|
| Property tax rate | ~0.85% effective | Below US average |
| Annual tax ($255k home) | ~$2,170 | ~$181/month |
| Conforming loan limit | $832,750 | Standard federal limit |
| Homestead / caps | May reduce bill | File with county assessor |
| Home insurance | ~$1,000–$1,500/year | Tornado / hail regions vary |
IHCDA’s Next Home and other products combine first mortgages with down payment assistance for eligible buyers. FHA and USDA (rural) options remain common outside urban cores. Compare Illinois property taxes if you are shopping the state line near Chicago.
Indiana’s median home value is approximately $255,000 in 2026. Indianapolis metro averages $260,000–$300,000 for many suburbs; Fort Wayne, Evansville, and South Bend offer lower entry points. College towns like Bloomington can run above the statewide median.
Indiana’s effective property tax rate is about 0.85% of home value — below the national average. On a $255,000 home, annual property taxes are roughly $2,170 (~$181/month in escrow). Caps and deductions (such as homestead) can lower individual bills.
The Indiana Housing and Community Development Authority (IHCDA) offers affordable first mortgages and down payment assistance through participating lenders. Programs target first-time and low-to-moderate income buyers with income and purchase-price limits by county.
For a $255,000 home with 20% down ($51,000), the loan is $204,000. At 6.5% over 30 years, principal and interest are about $1,289/month. Adding property tax (~$181/month) and insurance (~$108/month), total payment is near $1,580, often aligning with roughly $55,000–$65,000+ gross income for conventional underwriting, depending on other debts.
Educational estimates only. Not a mortgage offer or tax advice.