Michigan Mortgage Calculator
Estimate your monthly mortgage payment including taxes and insurance.
- Free
- No signup required
- Updated for 2026
Use our free Michigan mortgage calculator to estimate your monthly payment including principal, interest, property taxes, and insurance. See a full amortization schedule and compare different loan terms. Rates vary by county; we use a statewide average for estimates.
Loan details
Rates vary by county. This is an estimated statewide average.
Monthly payment
$1,666.22
- Principal & interest$1,264.14
- Property tax$302.08
- Insurance$100.00
Loan amount: $200,000 · Total interest: $255,089
Monthly breakdown
Amortization schedule
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $1,264.14 | $180.80 | $1,083.33 | $199,819.20 |
| 2 | $1,264.14 | $181.78 | $1,082.35 | $199,637.42 |
| 3 | $1,264.14 | $182.77 | $1,081.37 | $199,454.65 |
| 4 | $1,264.14 | $183.76 | $1,080.38 | $199,270.89 |
| 5 | $1,264.14 | $184.75 | $1,079.38 | $199,086.14 |
| 6 | $1,264.14 | $185.75 | $1,078.38 | $198,900.39 |
| 7 | $1,264.14 | $186.76 | $1,077.38 | $198,713.63 |
| 8 | $1,264.14 | $187.77 | $1,076.37 | $198,525.86 |
| 9 | $1,264.14 | $188.79 | $1,075.35 | $198,337.07 |
| 10 | $1,264.14 | $189.81 | $1,074.33 | $198,147.26 |
| 11 | $1,264.14 | $190.84 | $1,073.30 | $197,956.42 |
| 12 | $1,264.14 | $191.87 | $1,072.26 | $197,764.55 |
| 13 | $1,264.14 | $192.91 | $1,071.22 | $197,571.64 |
| 14 | $1,264.14 | $193.96 | $1,070.18 | $197,377.68 |
| 15 | $1,264.14 | $195.01 | $1,069.13 | $197,182.67 |
| 16 | $1,264.14 | $196.06 | $1,068.07 | $196,986.61 |
| 17 | $1,264.14 | $197.13 | $1,067.01 | $196,789.49 |
| 18 | $1,264.14 | $198.19 | $1,065.94 | $196,591.29 |
| 19 | $1,264.14 | $199.27 | $1,064.87 | $196,392.03 |
| 20 | $1,264.14 | $200.35 | $1,063.79 | $196,191.68 |
| 21 | $1,264.14 | $201.43 | $1,062.70 | $195,990.25 |
| 22 | $1,264.14 | $202.52 | $1,061.61 | $195,787.73 |
| 23 | $1,264.14 | $203.62 | $1,060.52 | $195,584.11 |
| 24 | $1,264.14 | $204.72 | $1,059.41 | $195,379.39 |
Showing rows 1–24 of 360
Frequently asked questions
Property tax rates in Michigan vary by county. This calculator uses a statewide average as the default; you can change the rate in the form. Check your county assessor for exact rates.
Enter your home price, down payment, interest rate, and loan term. We pre-fill Michigan's typical property tax rate. Add your annual insurance and any HOA fees. The calculator shows your total monthly payment and a full amortization schedule.
Principal and interest are calculated with the standard amortization formula. Property tax and insurance are estimates. This tool is for planning only and does not constitute financial advice.
Michigan Mortgage Overview
Michigan offers a range of housing markets from Detroit and Grand Rapids to smaller cities and lakeside communities. Property tax rates are moderate to high, often in the 1.3%–1.6% range. Use this calculator to estimate your monthly mortgage payment in Michigan.
Average Property Tax in Michigan
Property taxes in Michigan are levied by local units (counties, cities, townships, schools). Effective rates vary; we use a statewide average in the calculator. You can change the rate to better match your locality if you have an estimate.
Affordability and Down Payment
With many areas offering relatively affordable home prices, a 20% down payment may be feasible for some buyers, which can avoid PMI. Use the calculator to compare down payment amounts and loan terms and to view the full amortization schedule.
Tips for Michigan Buyers
- Check your local assessor for tax rates and homestead or other exemptions.
- Homeowners insurance can be higher in some areas; use a realistic annual amount.
- If you are buying a condo or in an HOA, add the monthly fee in the calculator.
- Compare 15-year and 30-year terms to see how much total interest you pay over the life of the loan.
This calculator provides estimates only. For exact figures, consult a licensed lender and your local tax authority.