Estimate your monthly mortgage payment including principal, interest, taxes, insurance, and PMI. Adjust the inputs to see how different scenarios affect your payment.
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📞 Call James — (586) 722-8800Get exact property tax estimates for any county, city, township, or school district in Michigan using official 2026 millage rates from the Michigan Department of Treasury. Select your location and enter the SEV or taxable value to see your actual tax obligation — then bring that number back here for a more accurate mortgage estimate.
The largest portion goes toward repaying the loan and compensating the lender. With a fixed-rate mortgage, this stays the same monthly, but the principal-to-interest ratio shifts over time.
Michigan property taxes vary by municipality. Your lender typically collects 1/12 of your annual tax bill monthly and holds it in escrow. Check your specific community for actual rates.
Lenders require homeowners insurance to protect their investment. Michigan averages around $1,500/year, but costs vary by home value, location, and coverage level.
If your down payment is less than 20%, lenders require PMI to protect against default. PMI typically costs 0.5% to 1% of the loan amount annually. It can be removed once you reach 20% equity.
This calculator provides estimates for informational purposes only. Actual rates, payments, and terms will vary based on your credit profile, loan type, and lender. Interest rates change daily. For an accurate quote, contact James Taveggia at (586) 722-8800 or JTaveggia@uhm.com. NMLS #23433. Equal Housing Opportunity.