Detroit, Michigan Mortgage Calculator - Monthly Payment with Taxes, PMI & Insurance
Detroit inherits the Wayne County benchmark (~2.2%) for city-level Southeast Michigan estimates, where local millage rates and Michigan transfer taxes shape both escrow and closing costs. On a $400,000 example with 20% down at 6.5% for 30 years, P&I is about $2,023 and tax escrow is about $733/mo—estimated PITI near $2,856 before PMI. Confirm parcel millage with the city assessor.
Loan Details
$70,000 · LTV 80%
Buyer Profile
Extra Payment
Optional principal-only payment used to estimate payoff speed and interest savings.
Monthly Payment
$1,770 Principal & Interest · $642 Property Taxes · $125 Other
Methodology and limitations
Last reviewed:
Methodology
Uses standard principal-and-interest mortgage math, then models housing-cost inputs such as tax, insurance, PMI, and extra-payment scenarios where available. National pages include worked PITI, term, and PMI comparison examples for planning.
Limitations
Planning estimate only. Actual approval, escrow, PMI, fees, taxes, insurance, and closing disclosures depend on lender, property, borrower profile, and local rules.
Detroit, Michigan Mortgage Calculator - Monthly Payment with Taxes, PMI & Insurance
Michigan · Wayne County
Detroit inherits the Wayne County benchmark (~2.2%) for city-level Southeast Michigan estimates, where local millage rates and Michigan transfer taxes shape both escrow and closing costs. On a $400,000 example with 20% down at 6.5% for 30 years, P&I is about $2,023 and tax escrow is about $733/mo—estimated PITI near $2,856 before PMI. Confirm parcel millage with the city assessor.
Use this mortgage calculator for Detroit, Michigan to estimate the monthly payment with principal, interest, configured annual taxes, eligible exemptions, and assistance programs when the buyer profile matches the conditions.
What This Estimate Uses
- Geographic level: city
- Configured property tax rate: 2.20%
- Configured benefits or exemptions: 2
- Reviewed sources: 4
What Changes in Detroit, Michigan
- Data level used: city. This page uses the most specific available data layer for Detroit, Michigan.
- Configured combined annual property tax rate: 2.20% before exemptions and buyer-specific conditions are applied.
- Configured down payment assistance programs: MSHDA Down Payment Assistance.
Local Tax Assumptions
These are the annual tax assumptions configured for this page. The calculator applies them to the appropriate value, then accounts for exemptions or conditions when the buyer selects them.
- Michigan Local Property Tax - 2.200%
Programs and Exemptions Included
These benefits do not mean automatic approval. The calculator models them when the buyer inputs match the configured eligibility conditions.
- MSHDA Down Payment Assistance - $10,000 (requires: first-time buyer, primary residence)
- Mortgage Credit Certificate (MCC) - 20% of mortgage interest (requires: first-time buyer, primary residence, buyer has a Mortgage Credit Certificate)
When This Estimate Can Change
- The actual property tax bill depends on the address, overlapping taxing jurisdictions, approved exemptions, and appraised value.
- Home insurance, flood insurance, HOA dues, and PMI can vary by property, lender, and buyer profile.
- Configured closing costs include Michigan Real Estate Transfer Tax, but other settlement charges may appear on a real loan estimate.
2025 Local Home-Purchase Mortgage Market in Wayne County, Michigan
Local home-purchase mortgage market context for Wayne County, Michigan: in 2025 Home Mortgage Disclosure Act (HMDA) data, Wayne County logged 25,299 final-action applications. The mortgage denial rate was 15.57% and the originated share was 63.91%.
These figures reflect the county market, not the city alone.
| Metric | Wayne County | State |
|---|---|---|
| Final-action applications | 25,299 | 159,421 |
| Mortgage denial rate | 15.57% | 12.93% |
| Originated share | 63.91% | 67.27% |
Source: FFIEC HMDA 2025 (LAR modificado, compra de vivienda) · Texas vs California mortgage denial rates (methodology)
Nearby location comparison
Planning comparison on a $400,000 home with 20% down, 6.5% fixed for 30 years, and $100/mo insurance. Monthly tax uses each page's configured property tax rate.
| Location | Est. property tax rate | Est. monthly tax | Est. monthly PITI |
|---|---|---|---|
| Detroit (this page) | 2.20% | $733 | $2,856 |
| Ingham County | 1.80% | $600 | $2,723 |
| Kent County | 1.50% | $500 | $2,623 |
| Macomb County | 1.70% | $567 | $2,689 |
| Oakland County | 1.60% | $533 | $2,656 |
| Washtenaw County | 1.60% | $533 | $2,656 |
Local Data and Sources
Last editorial verification: May 15, 2026. This page combines the official data layers configured for Detroit, Michigan.
The sources used on this page are Consumer Financial Protection Bureau mortgage cost guidance, Michigan Department of Treasury property tax, Michigan real estate transfer tax, MSHDA homeownership programs. Each source lists which rate, exemption, or program it validates and when it was last reviewed.
- Consumer Financial Protection Bureau mortgage cost guidance - verified May 3, 2026 - General U.S. mortgage closing-cost and mortgage-cost guidance.
- Michigan Department of Treasury property tax - verified May 15, 2026 - Official source for Michigan property-tax administration and homeowner property-tax guidance.
- Michigan real estate transfer tax - verified May 15, 2026 - Official source for Michigan state and county real estate transfer tax guidance.
- MSHDA homeownership programs - verified May 15, 2026 - Official MSHDA source for homebuyer and down payment assistance programs.
Frequently Asked Questions
What Michigan closing tax is modeled?
The state estimate includes a Michigan real estate transfer tax planning rate on the sale price. Use this state mortgage calculator to combine that assumption with principal, interest, insurance, and PMI, then drill into county or city pages when you have a specific address.
What Michigan assistance is modeled?
The calculator models MSHDA down payment assistance for eligible first-time buyers using the home as a primary residence. Use this state mortgage calculator to combine that assumption with principal, interest, insurance, and PMI, then drill into county or city pages when you have a specific address.
What is a sample Michigan PITI on $400,000?
With 20% down at 6.5% for 30 years, principal and interest are about $2,023. At ~1.38% statewide property-tax planning rate, monthly escrow is about $460; with $100 insurance, estimated PITI is about $2,583 without PMI. Drill into county or city calculators for address-level millage.
Why include Wayne County?
Wayne County contains Detroit and is one of Michigan's largest mortgage and population centers. Use this county mortgage calculator to combine that local assumption with principal, interest, insurance, and PMI so your monthly PITI estimate is closer to a full housing payment before you talk to a lender.
What property tax rate does the Wayne County mortgage calculator use?
Wayne County uses a local planning benchmark of about 2.20% on this page. On a $400,000 home that is roughly $8,800 per year or $733 per month in escrow before exemptions or special districts. Parcel bills can still differ—verify the levy code on the address you are buying.
What is a sample Wayne County PITI on $400,000?
With 20% down at 6.5% for 30 years, principal and interest are about $2,023. At ~2.20% property tax, monthly escrow is about $733; with $100 insurance, estimated PITI is about $2,856 without PMI. Enter your real price and down payment above to resize the estimate, including PMI if you put less than 20% down.
How does Wayne County compare with other Michigan counties?
Effective millage differs by county and school district. Wayne County's ~2.20% planning rate is a baseline—compare Wayne, Oakland, Kent, or Washtenaw calculators on the same price to see relative monthly PITI. Use this county mortgage calculator to combine that local assumption with principal, interest, insurance, and PMI so your monthly PITI estimate is closer to a full housing payment before you talk to a lender.
What Detroit-specific costs are reflected?
This Detroit page uses the Wayne County property-tax planning benchmark and statewide Michigan assumptions for mortgage PITI estimates. City millage, neighborhood values, and insurance costs still vary block by block—use the calculator for a payment baseline, then verify the tax bill and insurance quote for the exact address.
What is a sample Detroit PITI on $400,000?
With 20% down at 6.5% for 30 years, P&I is about $2,023. At ~2.2% property tax, monthly escrow is about $733; with $100 insurance, estimated PITI is about $2,856 without PMI. Many Detroit purchases are priced below $400,000; scale the same rate to your offer price for a tighter estimate.
How does Detroit compare with other Michigan cities for taxes?
Effective millage differs by city and school district even within Wayne County. Compare Detroit with Ann Arbor, Warren, or Grand Rapids calculators using the same price and down payment, then review the nearby comparison table for estimated tax rate and monthly PITI side by side.