Mortgage Calculator — Indiana
Pre-filled with Indiana's average home price of $230000, property tax rate of 0.86%, and average insurance of $1600/year. Adjust any value below.
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Indiana Housing Market
Indiana offers some of the lowest home prices in the Midwest with moderate property taxes. Indianapolis has seen above-average appreciation driven by strong population growth and a diversifying tech and life sciences economy.
Affordability in Indiana
Indiana is one of the most affordable states for home buyers nationally. Buyers earning $55,000–$65,000 can typically afford a median-priced Indiana home. Carmel and Fishers suburbs command premiums but remain affordable nationally.
Key Markets
First-Time Buyer Programs in Indiana
First Home
Fixed-rate first mortgage for first-time buyers and veterans, with income and price limits.
IHCDA Down Payment Assistance
Down payment help of a percentage of the purchase price as a deferred second loan, paired with an IHCDA first mortgage.
Programs are run by the Indiana Housing and Community Development Authority (IHCDA). Income limits, price limits and assistance amounts change often — confirm current terms with the agency or an approved lender.
Property Tax in Indiana
Indiana's constitution caps property tax on homesteads at 1% of gross assessed value. With the homestead standard deduction, most owner-occupants pay well under 1%. At Indiana's average effective rate of 0.86%, a $230,000 home pays roughly $1,980/year (about $165/month).
Indiana Conforming Loan Limit
In 2026, the conforming loan limit is $832,750 in most counties. Designated high-cost areas can go up to $1,249,125. Loans above the limit are jumbo loans and usually need a larger down payment.
Closing Costs in Indiana
Indiana has no state transfer tax, only a small sales disclosure fee. Closing costs are mostly lender, title and recording fees, usually about 2%–3% of the price.
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