Indiana DSCR, Hard Money, Fix & Flip, Construction & Multifamily Loans
Indiana (IN) Underwriting Snapshot (BLUF): Wholesale business-purpose investment property loans in Indiana utilize Judicial (3-Month Statutory Waiting Period) security instruments, with an average non-homestead effective property tax rate of 0.81%, a median 1–4 unit investment home price of $255,000 (median rent $2,050/mo), and 5+ unit multifamily market rents averaging $1,240/door. Arranged by Loan Daddy LLC (NMLS #2827624).
SECURITY INSTRUMENT
Judicial (3-Month Statutory Waiting Period)EFFECTIVE PROPERTY TAX
0.81% Avg ($172/mo)MEDIAN 1–4 UNIT PRICE & RENT
$255,000 · $2,050/mo5+ UNIT MULTIFAMILY RENT
$1,240/door/moIndiana Pre-Populated Underwriting Terminal
1–4 Unit PITIA vs. 5–25+ Unit Commercial NOI Simulator
Loan Daddy LLC · NMLS #2827624 · AZ CMB #CMB-2016143 · Canonical Integer _cents & _bps Engine
Price/Door: $255,000·Loan/Door: $191,250·Avg Rent/Door: $2,050/mo
Prepayment Stepdown Structure
Amortization & FICO Tier
Calculated DSCR Coverage Ratio
1.38xCanonical:
138 bps · 7500 bps LTV · 6625 bps RateTier-1 Institutional (1.25x+ — Max LTV & Best Pricing)
Loan Amount (75% LTV)$191,25019,125,000 _cents
Monthly P&I Debt Service$1,225/mo@ 6.625% Note Rate
Total Monthly PITIA$1,486/moTax: $172 · Ins: $89
Net Monthly Cash Flow+$564/mo$6,768/yr net
Wholesale PPE Multi-Option Execution Comparison (Borrower-Paid 2.000% Default · 39 Wholesale Lenders)
| Execution Option | Prepay Structure | Est. Note Rate | Prepay Price Credit | Monthly Debt Service | DSCR Ratio |
|---|---|---|---|---|---|
| Option A: Lowest Rate (60-Mo Stepdown) | 5-4-3-2-1 | 6.625% | -100 bps (-1.000 pt) | $1,486/mo | 1.38x |
| Option B: Balanced Par (36-Mo Stepdown) | 3-2-1 | 6.875% | -75 bps (-0.750 pt) | $1,518/mo | 1.35x |
| Option C: Max Cash Flow (10-Yr Interest-Only) | 3-2-1 IO | 7.000% | +38 bps IO LLPA | $1,377/mo | 1.49x |
Many DSCR lenders focus on the property's rent, not your tax returns. Not all applicants will qualify; terms vary by lender.
Indiana Cities with Population ≥ 50,000 (20 Markets)
Click any Indiana city below to open its localized DSCR & Commercial Multifamily underwriting desk with county property tax rates, median rent benchmarks, and a pre-populated city deal calculator:
| City (IN) | County | 2026 Est. Pop | Effective Tax Rate | Median 1–4 Unit Price | Median Monthly Rent | 5+ Unit Rent/Door |
|---|---|---|---|---|---|---|
| Indianapolis, IN → | MARION County County | 919,298 | 0.78% | $295,000 | $2,350/mo | $1,425/door |
| Fort Wayne, IN → | ALLEN County County | 279,581 | 0.81% | $275,000 | $2,200/mo | $1,350/door |
| Evansville, IN → | VANDERBURGH County County | 131,138 | 0.84% | $265,000 | $2,100/mo | $1,275/door |
| South Bend, IN → | ST JOSEPH County County | 109,966 | 0.81% | $245,000 | $1,950/mo | $1,200/door |
| Carmel, IN → | HAMILTON County County | 93,660 | 0.87% | $255,000 | $2,050/mo | $1,250/door |
| Fishers, IN → | HAMILTON County County | 91,441 | 0.75% | $235,000 | $1,900/mo | $1,150/door |
| Bloomington, IN → | MONROE County County | 90,007 | 0.87% | $255,000 | $2,050/mo | $1,250/door |
| Hammond, IN → | LAKE County County | 86,074 | 0.81% | $245,000 | $1,950/mo | $1,200/door |
| Gary, IN → | LAKE County County | 85,511 | 0.81% | $245,000 | $1,950/mo | $1,200/door |
| Lafayette, IN → | TIPPECANOE County County | 76,707 | 0.79% | $240,000 | $1,950/mo | $1,175/door |
| Muncie, IN → | DELAWARE County County | 76,644 | 0.75% | $235,000 | $1,900/mo | $1,150/door |
| Terre Haute, IN → | VIGO County County | 66,517 | 0.79% | $240,000 | $1,950/mo | $1,175/door |
| Kokomo, IN → | HOWARD County County | 62,016 | 0.75% | $235,000 | $1,900/mo | $1,150/door |
| Noblesville, IN → | HAMILTON County County | 61,629 | 0.78% | $240,000 | $1,950/mo | $1,175/door |
| Anderson, IN → | MADISON County County | 60,680 | 0.81% | $260,000 | $2,050/mo | $1,250/door |
| Greenwood, IN → | JOHNSON County County | 58,495 | 0.84% | $250,000 | $2,000/mo | $1,225/door |
| Elkhart, IN → | ELKHART County County | 55,879 | 0.78% | $225,000 | $1,850/mo | $1,100/door |
| Mishawaka, IN → | ST JOSEPH County County | 52,308 | 0.76% | $235,000 | $1,900/mo | $1,150/door |
| Lawrence, IN → | Lawrence Metro County County | 51,377 | 0.81% | $260,000 | $2,050/mo | $1,250/door |
| Jeffersonville, IN → | CLARK County County | 50,100 | 0.81% | $245,000 | $1,950/mo | $1,200/door |