Mortgage on a $150K house in Indiana
$975 a month with 20% down — $807 principal and interest plus $92 property tax and $75 insurance.
Indiana's typical property tax is 0.74% of the home's value a year (U.S. average 0.9%), which adds $92 a month on a $150K home. The typical home in Indiana is worth $257,165, so $150K is 42% below the typical price.
$150K home in Indiana: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $30,000 | $120,000 | $807 | $0 | $167 | $975 | $41,800 |
| 10% down | $15,000 | $135,000 | $908 | $56 | $167 | $1,132 | $48,500 |
| 5% down | $7,500 | $142,500 | $959 | $59 | $167 | $1,185 | $50,800 |
| 3.5% down (FHA) | $5,250 | $147,283 | $991 | $66 | $167 | $1,224 | $52,500 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.74% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Indiana does $150K buy a typical home?
In these counties the typical home value is within 15% of $150K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Grant County | $153,995 | 0.72% | $973 |
| Blackford County | $144,987 | 0.81% | $984 |
| Sullivan County | $156,761 | 0.61% | $958 |
| Knox County | $158,943 | 0.68% | $967 |
| Jay County | $159,102 | 0.6% | $957 |
| Fayette County | $159,315 | 0.73% | $973 |
| Vigo County | $160,130 | 0.88% | $993 |
| Randolph County | $161,757 | 0.79% | $981 |
| Miami County | $162,402 | 0.6% | $957 |
| Crawford County | $167,258 | 0.75% | $976 |
| Delaware County | $168,797 | 0.75% | $975 |
| Vermillion County | $130,643 | 0.69% | $969 |
2 of 92 Indiana counties tracked by Zillow have a typical home value at or below $150K. See all Indiana home prices.
Other prices in Indiana
Frequently asked questions
What is the mortgage on a $150K house in Indiana?
About $975 a month with 20% down at 7.11%: $807 principal and interest, $92 property tax and $75 insurance.
How much do I need to make to buy a $150K house in Indiana?
About $41,800 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $150K house in Indiana?
At Indiana's typical effective rate of 0.74%, about $1,107 a year. Rates vary by county and city — see the county pages.