The calculator below is pre-filled with Lake County's own property tax rate and insurance average (expand "More options" to see or edit them) — not just Indiana's statewide figures.

Lake County at a glance

Effective property tax rate
0.92% of home value / year

Source via smartasset.com (as of 2026-08-20)

Median home price
$294,137

Source via redfin.com (as of 2026-08-20)

Conforming loan limit (1-unit, 2026)
$832,750

Source via fhfa.gov (as of 2026-08-20)

County data last updated 2026-08-20. FIPS 18089. Full source list on /methodology.

Lake County, IN mortgage payment calculator

All-in cost first, always — pre-filled with Lake County tax and insurance figures. Estimate only, not a loan quote or pre-approval.

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Rate via FRED

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Indiana at a glance

Median home price
$280,055
Typical closing costs
2%–4% of price
Transfer tax
None
Closing custom
escrow
Homestead exemption
Indiana's Homestead Standard Deduction (Indiana Code §6-1.1-12-37) reduces a homestead's assessed value by the lesser of 60% of assessed value or a flat dollar cap — but that cap is being phased down and eliminated under 2025 property tax reform (P.L.68-2025 / the enacted version of Senate Bill 1): $48,000 for 2025, $40,000 for 2026, $30,000 (2027), $20,000 (2028), $10,000 (2029), and $0 (2030 onward). A separate Supplemental Homestead Deduction (IC §6-1.1-12-37.5) applies to the remaining assessed value after the standard deduction, and is being phased UP over the same period to partially offset the standard deduction's phase-out: 40% (2026), 46% (2027), 52% (2028), 57% (2029), 62% (2030), 66.7% (2031 onward), capped so the combined deductions never exceed 75% of gross assessed value. Both deductions require a one-time application with the county auditor. Separately, Indiana's constitutional 'circuit breaker' property tax caps (Art. 10, §1) limit a homestead's total property tax bill to 1% of gross assessed value (2% for other residential/agricultural, 3% for other real/personal property), regardless of deductions.

First-time buyer / down payment assistance programs

  • IHCDA First Step Program

    Indiana Housing and Community Development Authority's primary first-mortgage program for first-time homebuyers (or buyers in a targeted census tract): a 30-year fixed-rate FHA or Conventional loan combined with non-forgivable down payment assistance, reserved through a participating lender for a $250 fee.

  • IHCDA Next Home Program

    Down payment assistance of 2.5% or 3.5% of the purchase price (the assistance amount cannot exceed the home's appraised value), paired with an FHA or Conventional 30-year fixed-rate first mortgage; unlike First Step, has no first-time-buyer restriction.