Mortgage on a $300K house in Indiana
$1,949 a month with 20% down — $1,614 principal and interest plus $185 property tax and $150 insurance.
Indiana's typical property tax is 0.74% of the home's value a year (U.S. average 0.9%), which adds $185 a month on a $300K home. The typical home in Indiana is worth $257,165, so $300K is 17% above the typical price.
$300K home in Indiana: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $60,000 | $240,000 | $1,614 | $0 | $335 | $1,949 | $83,500 |
| 10% down | $30,000 | $270,000 | $1,816 | $113 | $335 | $2,263 | $97,000 |
| 5% down | $15,000 | $285,000 | $1,917 | $119 | $335 | $2,371 | $101,600 |
| 3.5% down (FHA) | $10,500 | $294,566 | $1,982 | $133 | $335 | $2,449 | $104,900 |
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 $300K buy a typical home?
In these counties the typical home value is within 15% of $300K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Morgan County | $299,883 | 0.49% | $1,888 |
| Jasper County | $300,557 | 0.46% | $1,881 |
| Tippecanoe County | $296,588 | 0.62% | $1,918 |
| Kosciusko County | $293,218 | 0.6% | $1,915 |
| Franklin County | $292,357 | 0.59% | $1,913 |
| Warrick County | $291,696 | 0.67% | $1,933 |
| Monroe County | $309,871 | 0.71% | $1,943 |
| Johnson County | $312,876 | 0.71% | $1,942 |
| Floyd County | $285,954 | 0.69% | $1,937 |
| Whitley County | $284,103 | 0.7% | $1,940 |
| Ohio County | $282,157 | 0.61% | $1,918 |
| Steuben County | $320,242 | 0.57% | $1,908 |
80 of 92 Indiana counties tracked by Zillow have a typical home value at or below $300K. See all Indiana home prices.
Other prices in Indiana
Frequently asked questions
What is the mortgage on a $300K house in Indiana?
About $1,949 a month with 20% down at 7.11%: $1,614 principal and interest, $185 property tax and $150 insurance.
How much do I need to make to buy a $300K house in Indiana?
About $83,500 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $300K house in Indiana?
At Indiana's typical effective rate of 0.74%, about $2,215 a year. Rates vary by county and city — see the county pages.