Mortgage on a $350K house in Indiana
$2,274 a month with 20% down — $1,884 principal and interest plus $215 property tax and $175 insurance.
Indiana's typical property tax is 0.74% of the home's value a year (U.S. average 0.9%), which adds $215 a month on a $350K home. The typical home in Indiana is worth $257,165, so $350K is 36% above the typical price.
$350K home in Indiana: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $70,000 | $280,000 | $1,884 | $0 | $390 | $2,274 | $97,500 |
| 10% down | $35,000 | $315,000 | $2,119 | $131 | $390 | $2,641 | $113,200 |
| 5% down | $17,500 | $332,500 | $2,237 | $139 | $390 | $2,766 | $118,500 |
| 3.5% down (FHA) | $12,250 | $343,661 | $2,312 | $155 | $390 | $2,857 | $122,400 |
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 $350K buy a typical home?
In these counties the typical home value is within 15% of $350K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Lagrange County | $348,227 | 0.55% | $2,218 |
| Hendricks County | $343,151 | 0.81% | $2,294 |
| Brown County | $358,796 | 0.44% | $2,186 |
| Porter County | $330,010 | 0.83% | $2,300 |
| Hancock County | $329,462 | 0.66% | $2,250 |
| Dearborn County | $327,371 | 0.74% | $2,273 |
| Steuben County | $320,242 | 0.57% | $2,226 |
| Johnson County | $312,876 | 0.71% | $2,266 |
| Monroe County | $309,871 | 0.71% | $2,267 |
| Jasper County | $300,557 | 0.46% | $2,194 |
| Morgan County | $299,883 | 0.49% | $2,203 |
89 of 92 Indiana counties tracked by Zillow have a typical home value at or below $350K. See all Indiana home prices.
Other prices in Indiana
Frequently asked questions
What is the mortgage on a $350K house in Indiana?
About $2,274 a month with 20% down at 7.11%: $1,884 principal and interest, $215 property tax and $175 insurance.
How much do I need to make to buy a $350K house in Indiana?
About $97,500 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $350K house in Indiana?
At Indiana's typical effective rate of 0.74%, about $2,584 a year. Rates vary by county and city — see the county pages.