Michigan Mortgage Calculator (2026)
Calculate your monthly payment with Michigan-specific property tax (1.54%) and average insurance ($1,400/yr).
Monthly payment
Payment breakdown
Loan summary
Amortization schedule (first 12 + every 12 months)
| Month | Principal | Interest | PMI/MIP | Balance |
|---|---|---|---|---|
| 1 | $199.19 | $1,417.50 | $101.25 | $242,801 |
| 2 | $200.35 | $1,416.34 | $101.25 | $242,600 |
| 3 | $201.52 | $1,415.17 | $101.25 | $242,399 |
| 4 | $202.69 | $1,413.99 | $101.25 | $242,196 |
| 5 | $203.87 | $1,412.81 | $101.25 | $241,992 |
| 6 | $205.06 | $1,411.62 | $101.25 | $241,787 |
| 7 | $206.26 | $1,410.43 | $101.25 | $241,581 |
| 8 | $207.46 | $1,409.22 | $101.25 | $241,374 |
| 9 | $208.67 | $1,408.01 | $101.25 | $241,165 |
| 10 | $209.89 | $1,406.80 | $101.25 | $240,955 |
| 11 | $211.11 | $1,405.57 | $101.25 | $240,744 |
| 12 | $212.35 | $1,404.34 | $101.25 | $240,532 |
| 24 | $227.70 | $1,388.99 | $101.25 | $237,885 |
| 36 | $244.16 | $1,372.53 | $101.25 | $235,047 |
| 48 | $261.81 | $1,354.88 | $101.25 | $232,003 |
| 60 | $280.73 | $1,335.95 | $101.25 | $228,740 |
| 72 | $301.03 | $1,315.66 | $101.25 | $225,240 |
| 84 | $322.79 | $1,293.90 | $101.25 | $221,488 |
| 96 | $346.12 | $1,270.56 | $101.25 | $217,465 |
| 108 | $371.14 | $1,245.54 | $101.25 | $213,150 |
| 120 | $397.97 | $1,218.71 | — | $208,524 |
| 132 | $426.74 | $1,189.94 | — | $203,563 |
| 144 | $457.59 | $1,159.09 | — | $198,244 |
| 156 | $490.67 | $1,126.01 | — | $192,540 |
| 168 | $526.14 | $1,090.54 | — | $186,424 |
| 180 | $564.18 | $1,052.51 | — | $179,866 |
| 192 | $604.96 | $1,011.72 | — | $172,833 |
| 204 | $648.69 | $967.99 | — | $165,293 |
| 216 | $695.59 | $921.10 | — | $157,207 |
| 228 | $745.87 | $870.81 | — | $148,536 |
| 240 | $799.79 | $816.89 | — | $139,239 |
| 252 | $857.61 | $759.08 | — | $129,270 |
| 264 | $919.60 | $697.08 | — | $118,580 |
| 276 | $986.08 | $630.60 | — | $107,117 |
| 288 | $1,057.37 | $559.32 | — | $94,826 |
| 300 | $1,133.80 | $482.88 | — | $81,646 |
| 312 | $1,215.77 | $400.92 | — | $67,513 |
| 324 | $1,303.65 | $313.03 | — | $52,359 |
| 336 | $1,397.90 | $218.79 | — | $36,109 |
| 348 | $1,498.95 | $117.74 | — | $18,684 |
| 360 | $1,607.31 | $9.38 | — | $0 |
What the payment actually costs
Michigan property tax averages 1.54% of value — 14th highest of 51 states, against a national average near 1.10%. On a $400,000 home that is about $6,160 a year, or $513 a month added to principal and interest.
Homeowners insurance runs about $1,400 a year in Michigan, 28th of 51 states and below the $1,552 national average. Together, tax and insurance add roughly $630 a month to the payment before you have paid a dollar of principal.
How this fits the rest of your tax bill
Michigan taxes both income and property, so neither side offsets the other. Property tax at 1.54% ranks 14th of 51, and state income tax applies on top. Model both together when comparing against a no-income-tax state, because the comparison flips depending on how much house you buy relative to what you earn.
Housing costs compound with the rate. Michigan runs about 7% below national-average costs, so the same 1.54% rate applies to a smaller assessed value than it would elsewhere. A percentage rate is only half the number that matters; the base it applies to is the other half.
Property tax rates are effective statewide averages; your county assessor sets the actual figure and it varies widely within a state. See our methodology.