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    Mortgage Calculator | Estimate Your Monthly Payment | Greg Rank

    MORTGAGE CALCULATOR · ESTIMATE YOUR PAYMENT IN SECONDS

    Crunch the Numbers — Then Get the Real Ones From Greg.

    Estimate your monthly payment, affordability, or refinance savings in seconds. When you want exact numbers, I’m one call away.

    Get a Personalized QuoteCall or Text (317) 603-0912

    ★★★★★ 5.0 on Google ·  Free ·  No signup to estimate

    Use the free mortgage calculator below to estimate your monthly principal and interest payment based on your home price, down payment, interest rate, and loan term. Get an instant estimate in seconds — no personal information required.

    Mortgage Calculator

    Estimate your numbers in seconds — then get the real ones from Greg.

    Estimates only — not a commitment to lend. Figures are approximate and exclude some costs; MIP, PMI, funding fees, taxes, and insurance vary by scenario. For exact, personalized numbers, contact Greg Rank · Channelwood Mortgage · NMLS #138276 · (317) 603-0912. Equal Housing Opportunity.

    Monthly Mortgage Payments

    How to Use This Mortgage Calculator

    1. Home Price: Enter the purchase price of the home you’re considering.
    2. Down Payment: Enter your down payment amount or percentage. Conventional loans allow as little as 3% down; FHA allows 3.5%; VA and USDA allow 0% down.
    3. Interest Rate: Enter a current estimate. Call Greg Rank at (317) 603-0912 for a real-time rate quote based on your credit and loan scenario.
    4. Loan Term: Choose 15 or 30 years. A 30-year term has lower monthly payments; a 15-year term builds equity faster and costs less in total interest.

    What the Calculator Does NOT Include

    This calculator estimates principal and interest (P&I) only. Your actual monthly mortgage payment will also include:

    • Property taxes — Indiana property tax rates vary by county. Marion County (Indianapolis) averages around 1.0-1.5% annually; Hamilton County (Carmel, Fishers) is typically lower due to higher home values.
    • Homeowner’s insurance — typically $100-$200/month for most Indiana homes.
    • Private Mortgage Insurance (PMI) — required on conventional loans with less than 20% down; typically 0.5-1.5% of the loan amount annually.
    • FHA Mortgage Insurance Premium (MIP) — required on FHA loans; 0.55% annually for most borrowers (as of 2024).
    • HOA fees — if applicable to your community.

    Indiana Mortgage Payment Examples

    Here are sample monthly P&I payments at a 6.75% rate to help set expectations for different purchase scenarios in Indiana:

    • $150,000 home, 5% down ($142,500 loan), 30 years: ~$924/month
    • $200,000 home, 3.5% down FHA ($193,000 loan), 30 years: ~$1,251/month
    • $250,000 home, 10% down ($225,000 loan), 30 years: ~$1,459/month
    • $350,000 home, 20% down ($280,000 loan), 30 years: ~$1,815/month
    • $500,000 home, 20% down ($400,000 loan), 30 years: ~$2,594/month

    Note: These are estimates only. Actual rates vary based on credit score, loan type, down payment, and market conditions. Contact Greg for a personalized quote.

    Ready for a Real Rate Quote?

    The calculator is a great starting point, but your actual rate depends on your credit score, down payment, debt-to-income ratio, and the loan program you qualify for. Greg Rank shops 40+ wholesale Indiana lenders to find you a rate that could be significantly lower than what national lenders advertise.

    📞 Call or text: (317) 603-0912
    Free consultation — no obligation. Serving Indianapolis, Carmel, Fishers, Fort Wayne, and all of Indiana.

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    Greg Rank Mortgage Broker Indianapolis