Michigan Mortgage Calculator
Estimate your monthly mortgage payment in Michigan based on the state median home price of $240K, a 1.54% property tax rate, and $2K/year homeowners insurance.
$48,000
MI avg
Principal & Interest
$1,214
per month
Taxes & Insurance
$458
per month
Total Interest Paid
$245K
over 30 years
Total Loan Cost
$437K
all payments
Payment Breakdown
Loan Amount$192,000
Principal & Interest$1,214
Property Taxes$308
Homeowners Insurance$150
Total Monthly PITI$1,672
Michigan Housing at a Glance
Median Home Price
$240K
Michigan statewide
Property Tax Rate
1.54%
$308/mo on median
Avg Closing Costs
$4K
1.5% of purchase price
Homeowners Insurance
$1,800/yr
$150/mo
Michigan First-Time Buyer Program
MSHDA DPA
Down payment assistance: Up to $7,500 DPA