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Key Takeaways for Indiana Home Buyers:

Here's what you need to know to get started if you’re looking at buying in the Hoosier State.

Average Home Prices in Indiana

As of May 2025, the median sale price for a single-family home in Indiana is $253,014.

Average home price:

  • Indianapolis: $233,611 
  • Carmel: $648,568 
  • Bloomington: $316,973
  • Westfield: $467,587
  • Brownsburg: $359,670 

Source: zillow.com/home-values

Average Home Size in Indiana

The average size for a single-family home in Indiana is approximately 1,892 square feet.

Average home size:

  • Indianapolis: 2,095 square feet
  • Carmel: 2,095 square feet
  • Bloomington: 1,980 square feet
  • Westfield: 1,646 square feet
  • Brownsburg: 2,884 square feet

Source: https://fred.stlouisfed.org/

Indiana State Taxes

  • Indiana charges a flat state income tax of 3.0%, plus county-level income taxes averaging 1.6%, depending on your location.
  • The average effective property tax rate in Indiana is about 0.77%, capped at 1% of assessed value for owner-occupied homes.
  • Indiana’s state sales tax rate is 7%, with no additional local sales taxes, making it one of the few states with a uniform rate.

How Much Can You Afford in Indiana?

Ideal
Monthly Payment:
$750.00

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$750.00
$1050
$1350

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By submitting this form, I/we agree to your Privacy Policy, Email and Mobile Policy, Terms of Use and authorize Churchill Mortgage Corporation and/or their Preferred Provider for our area and/or The Churchill Agency to receive the above information to assist in obtaining a home loan.

I/we also authorize Churchill Mortgage Corporation, The Churchill Agency and/or their Preferred Provider for our area to contact us regarding but not limited to mortgage and insurance services and products via telephone, mobile phone (including through automated dialing), and/or email, even if telephone numbers or email I/we provide are on any Do Not Call/Contact Registry, such as corporate, state, or the National Do Not Call Registry. The submission of this form does not constitute in any way a formal loan application or a commitment for a loan. By communicating with us by phone, you consent to calls being recorded and monitored. By participating, you consent to receive SMS text messages sent by an automatic telephone dialing system. Message and data rates may apply. Message frequency may vary. Text the word HELP to 615-488-4941 for more information. You can opt out by responding STOP at any time. For more information, read our Privacy Policy, Mobile Policyand Terms & Conditions. Consent to these terms is not a condition of purchase.

Your answer will NOT negatively affect your mortgage application. Your answer does not mean the Lender or Other Loan Participants agree to communicate or provide documents to you in your preferred language. However, it may let them assist you or direct you to persons who can assist you. Language assistance and resources may be available through housing counseling agencies approved by the U.S. Department of Housing and Urban Development. To find a housing counseling agency, contact one of the following Federal government agencies. U.S. Department of Housing and Urban Development (HUD) at (800)569-4287 or www.hud.gov/counseling

Es probable que su transacción de préstamo hipotecario suceda en inglés. Por medio de esta pregunta, solicitamos información para determinar si existen comunicaciones disponibles a su servicio, en su idioma preferido. Sírvase tener en cuenta: posiblemente NO hay comunicaciones disponibles en su idioma preferido.

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Indiana Down Payment Assistance Programs

National Homebuyers Fund FHA Program

This down payment assistance program helps buyers get into a home with little to no upfront cost, offering up to 101.5% financing through an FHA first mortgage and a second lien.

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More about this program
  • FHA loan covers 96.5% of the purchase price
  • Second lien covers 3.5% or 5% for down payment or closing costs
  • Minimum credit score: 600 (660 for manual underwriting)
  • No first-time buyer requirement
  • No max DTI with DU/LP approval
  • Homebuyer education required (Fannie Mae HomeView – free online)
  • Non-occupant co-borrowers allowed
  • Eligible properties: Single-family homes, duplexes (2 units), PUDs, condos (agency approved), townhomes, manufactured homes allowed (except single-wides)

National Community Lending Program

This program supports low- to moderate-income buyers with down payment assistance and flexible financing to make homeownership more accessible.

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More about this program
  • 30-year fixed-rate conventional mortgage
  • Second lien offers up to 4% for down payment assistance
  • Max LTV/CLTV: 97% / 105%
  • Income limit: Up to 140% of area median income (AMI)
  • Minimum credit score: 660
  • DTI: Lesser of 50% or AUS approval
  • Eligible properties: Single-family detached or attached homes, single-family homes with accessory units (must be zoned single-family), PUDs and condominiums, rural properties (must be residential in nature)

Churchill Mortgage is an approved lender for these down payment assistance programs. Contact us today to see if you qualify!

Frequently Asked Questions

Check our FAQs for responses to our most popular questions from Indiana Home Buyers.

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How Much Should I Budget for Closing Costs in Indiana?

In Indiana, home buyers typically spend 2% to 5% of the home’s purchase price on closing costs. These costs can vary based on location, lender fees, and loan type.

For a $250,000 home, expect to budget around $5,000 to $12,500 for closing costs.

You will receive your closing costs from your Home Loan Specialist in a Loan Estimate that you will receive after you apply for your home loan and in the Closing Disclosure document that is provided before your official closing day.

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What Are the Most Popular Home Loan Types in Indiana?

Indiana home buyers have several popular mortgage options depending on their financial situation and homeownership goals:

  • Conventional loans – Widely used in Indiana, these loans typically require higher credit scores but offer competitive interest rates and flexible terms.

  • FHA loans – Popular among first-time homebuyers in Indiana, FHA loans allow for lower down payments and more flexible credit requirements.

  • VA loans – A top choice for Indiana veterans and active-duty service members, VA loans offer zero down payment and no private mortgage insurance.

  • USDA loans – Common in Indiana’s rural areas, USDA loans offer 100% financing for eligible properties and borrowers.

Collaboration
How Can I Find a Trusted Local Indiana Realtor to Work With?

Churchill Mortgage's experienced Home Loan Specialists work closely with a network of trusted, local real estate agents across the state of Indiana. Just ask for a referral and we'll provide you with a professional who is committed to finding the right home for you.

 
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How Do Schools Rank in Indiana?

Indiana features several high-performing public school districts, especially in suburban areas known for strong academics, college prep, and overall student achievement.

  • Carmel Clay Schools consistently rank among the top districts in the Indianapolis metro area, earning A+ grades for academics and college readiness.

  • Zionsville Community Schools also receive A+ ratings, with strong academic competition and engaged teaching staff. 

  • Brownsburg Community Schools shines for its well-rounded programs and community connection. 

  • Statewide rankings from Niche include other top districts such as Avon, Westfield‑Washington, North Montgomery, and Plainfield.

For detailed school ratings, test scores, and graduation rates, check the Indiana Graduates Prepared to Succeed (GPS) dashboard on the Indiana Department of Education website.

Reviews from Indiana Home Buyers

★ ★ ★ ★ ★

"Lee kept me in the loop and was always ready for my questions. As a first-time home buyer I had many many questions. I appreciate the time and effort from Lee and his team to get me into my first home."

Rachel D.
Indianapolis, IN
★ ★ ★ ★ ★

"Shannon and Aimee were very helpful and friendly! They made the process very easy for us!"

Karen P.
Corydon, IN
★ ★ ★ ★ ★

"David explained everything and is easy to communicate with. This is my second time working with him and I appreciate his kindness!"

Sarah D.
Pendleton, IN

4.9 / 5

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Top Rated Loan Advisors Across the U.S.

Served over 100,000+ happy homeowners!

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Indiana Branch Locations

Decatur, IN

260-672-1013

Visit the Branch Website

836 S 11th Street, Decatur, IN

Churchill Loan Officers in Indiana

Conforming and high balance allowed. Cooperative housing not eligible. Not all applicants will qualify. Not a commitment to lend. Other restriction or limitations to any program may apply.

This calculator is being provided for educational purposes only. The provided values for interest rates are examples only and do not reflect Churchill Mortgage Product terms & offers. The results are estimates that are based on information you provided and may not reflect Churchill Mortgage Product terms. The information cannot be used by Churchill Mortgage to determine a customer's eligibility for a specific product or service. All financial calculators are provided by a third-party and are not controlled by or under the control of Churchill Mortgage. Churchill Mortgage is not responsible for the content, results, or the accuracy of information.

These calculations are hypothetical examples designed to for illustration purposes only. Consult a Home Loan Specialist for more specific information regarding payments, terms, etc.

As a responsible lender, Churchill Mortgage is committed to the principles outlined in federal and state lending laws ensuring all potential borrowers have access to the same information, services, and opportunities throughout the home loan process.