Tools
Mortgage calculators built for Michigan
Every Michigan mortgage calculator here builds in the numbers generic tools ignore — property tax (under 1% up north to over 2% in parts of Wayne County), Michigan's transfer tax, and the insurance premiums each loan type adds.
Payment & affordability
Monthly payment
Principal, interest, Michigan property tax, insurance and PMI — the full number.
Affordability
Work backward from income and debts to a realistic Michigan price range.
Debt-to-income (DTI)
The ratio that most often decides a mortgage approval.
Rent vs buy
Find the year buying a Michigan home pays off versus renting.
By loan type
FHA loan
Payment with upfront and monthly mortgage insurance (MIP) built in.
VA loan
Zero-down payment including the VA funding fee.
Land loan
Vacant-lot financing with bigger down and shorter term.
Jumbo mortgage
Loans above the conforming limit — Ann Arbor, Oakland County, lakefront.
USDA loan
Zero-down rural financing for eligible Michigan areas.
Reverse mortgage
How much a 62+ homeowner could draw from home equity.
Home equity
Payoff & refinance
Amortization schedule
Month-by-month principal, interest and balance for the whole loan.
Mortgage payoff
How extra payments cut years and interest off your loan.
Refinance break-even
Whether today's rates save enough to justify the closing costs.
Michigan closing costs
Transfer tax, title and recording fees specific to Michigan.
Biweekly payment
Pay every two weeks — 13 payments a year — to shave years off.
Cash-out refinance
Pull equity out as cash by refinancing into a larger loan.
Rate & structure
Frequently asked questions
Is there a free Michigan mortgage calculator?
Yes. Every calculator on this page is free and built for Michigan, with local property tax and insurance folded in. Start with the monthly payment calculator for the full picture, or pick a tool by loan type above.
What makes a Michigan mortgage calculator different from a generic one?
Two things move your Michigan payment that national tools gloss over: property tax, which runs from under 1% in some townships to over 2% in parts of Wayne County, and the state's transfer tax at closing. Ours build the local figures in instead of using a flat national guess.
Which calculator should I use first?
If you are just starting, run the affordability calculator to find your price range, then the payment tool to see the monthly cost. Check your debt-to-income ratio before you apply, since that is what most often decides approval.