Mortgage on a $900K house in Michigan
$6,174 a month with 20% down — $4,843 principal and interest plus $880 property tax and $450 insurance.
Michigan's typical property tax is 1.17% of the home's value a year (U.S. average 0.9%), which adds $880 a month on a $900K home. The typical home in Michigan is worth $263,760, so $900K is 241% above the typical price.
$900K home in Michigan: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $180,000 | $720,000 | $4,843 | $0 | $1,330 | $6,174 | $264,600 |
| 10% down | $90,000 | $810,000 | $5,449 | $338 | $1,330 | $7,117 | $305,000 |
| 5% down | $45,000 | $855,000 | $5,752 | $356 | $1,330 | $7,438 | $318,800 |
| 3.5% down (FHA) | $31,500 | $883,699 | $5,945 | $398 | $1,330 | $7,673 | $328,800 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.17% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Michigan does $900K buy a typical home?
No Michigan county has a typical home value within 15% of $900K.
83 of 83 Michigan counties tracked by Zillow have a typical home value at or below $900K. See all Michigan home prices.
Other prices in Michigan
Frequently asked questions
What is the mortgage on a $900K house in Michigan?
About $6,174 a month with 20% down at 7.11%: $4,843 principal and interest, $880 property tax and $450 insurance.
How much do I need to make to buy a $900K house in Michigan?
About $264,600 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $900K house in Michigan?
At Michigan's typical effective rate of 1.17%, about $10,563 a year. Rates vary by county and city — see the county pages.