Calculate Your Monthly Payment
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Select a program to apply FHA/VA/USDA rules.
$
20.0% of home price
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%
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Used to estimate potential Year‑2 escrow shock if taxes reset after purchase.
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$
$
Extra payments reduce balance faster and can end PMI sooner.
Total Monthly Payment
$0
Principal & Interest • Tax • Insurance • PMI • HOA
Principal & Interest
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Property Tax
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Insurance
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PMI
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HOA
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Loan Amount
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Principal & Interest
Property Tax
Home Insurance
PMI
Total Interest Paid
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Total Principal + Interest
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Disclaimer: Results shown are estimates for educational purposes only and do not constitute financial, tax, legal, or investment advice. Actual payments vary based on lender, credit score, loan type, and local assessments. Consult a licensed mortgage professional for your specific situation.
Michigan Mortgage Costs at a Glance
Property Tax
1.54%
Nat. Avg: 1.07%
Median Home
$240000
Nat. Avg: $287,000
Avg Insurance
$1440
Nat. Avg: $1,428
Loan Limit
$766,550
Nat. Avg: $766,550
Mortgage Costs by City in Michigan
Detroit
~$719/mo
Home Price
$90,000
Tax (1.54%)
~$115/mo
Est. P&I (7.1% / 20% down)
~$484/mo
Grand Rapids
~$2,017/mo
Home Price
$285,000
Tax (1.54%)
~$365/mo
Est. P&I (7.1% / 20% down)
~$1,532/mo
Ann Arbor
~$3,017/mo
Home Price
$435,000
Tax (1.54%)
~$558/mo
Est. P&I (7.1% / 20% down)
~$2,339/mo
Michigan First-Time Homebuyer Programs
Understanding Property Taxes in Michigan
Michigan has an average property tax rate of 1.54%, which is above the national average of 1.07%.
Frequently Asked Questions
The average property tax rate in Michigan is 1.54%.
The median home price in Michigan is approximately $240,000.
Michigan offers several programs including MSHDA MI Home Loan, MSHDA Down Payment Assistance.