Indiana Mortgage Calculator 2026

Calculate your monthly mortgage payment for a home in Indiana (IN). The median home price in Indiana is $254,805, with an effective property tax rate of 0.74% (ranked #31 nationally). Use our free calculator to compare FHA, VA, USDA, and conventional loan options with real Indiana data.

Indiana Property Tax Information

Indiana has an effective property tax rate of 0.74%, ranking #31 among all 50 states. The median annual property tax is $1,496 ($125/month). Source: Tax Foundation 2025.

Indiana Loan Limits 2026

FHA loan limit in Indiana: $524,225 (floor) to $524,225 (ceiling for high-cost areas). Conforming loan limit: $806,500 (baseline) to $806,500 (ceiling).

Estimated Monthly Payment in Indiana

For a median-priced home of $254,805 with 20% down ($50,961), at 6.5% interest over 30 years: estimated monthly principal and interest is $1,288, plus $125 in property taxes and approximately $125 in homeowner's insurance, for a total estimated payment of approximately $1,538/month.

Indiana Closing Costs

Average closing costs in Indiana are $1,810 (0.7% of purchase price), ranked #48 nationally. Indiana does not charge a transfer tax. Source: Bankrate/LodeStar 2025.

Indiana Housing Market 2026

Home prices in Indiana have increased 4.2% year-over-year. Average days on market: 35. Inventory level: moderate. Currently considered a buyer's market.

Down Payment Assistance Programs in Indiana

Indiana offers 3 down payment assistance programs through Indiana Housing and Community Development Authority (IHCDA):

  • Next Home Advantage with Subsidy (forgivable loan): Forgiven after 2 years if you remain in the home. - Up to 3% of appraised value
  • First Place Program (second mortgage): For first-time buyers. 0% interest, deferred payment. - Up to Up to $5,000
  • Helping to Own (H2O) (forgivable loan): For buyers in certain income brackets. Forgivable over time. - Up to Up to $14,999

Contact IHCDA: https://www.ihcda.in.gov | Phone: 317-232-7777

Did You Know About Indiana?

  • Indiana has no transfer tax on real estate transactions
  • Property taxes capped at 1% of assessed value for homesteads
  • Indianapolis metro offers excellent affordability vs. income
  • Strong manufacturing sector provides stable employment

Frequently Asked Questions About Buying a Home in Indiana

What is the average property tax rate in Indiana?

The effective property tax rate in Indiana is 0.74%, with a median annual tax of $1,496. This ranks #31 among all states.

What are the FHA loan limits in Indiana for 2026?

The FHA loan floor in Indiana is $524,225 and the ceiling is $524,225 for high-cost areas. The conforming loan limit baseline is $806,500.

How much are closing costs in Indiana?

Average closing costs in Indiana are $1,810, which is approximately 0.7% of the purchase price.

Are there first-time homebuyer programs in Indiana?

Yes, Indiana offers 3 down payment assistance programs through Indiana Housing and Community Development Authority, including grants, forgivable loans, and second mortgages.

Is Indiana a good place to buy a home in 2026?

With a median home price of $254,805 and moderate inventory, Indiana is currently a buyer's market. Home prices have increased 4.2% over the past year.

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Data last updated: 2025-11. This information is for educational purposes only and should not be considered financial advice.