Pre-loaded with Detroit's illustrative property tax assumption (1.62%) and median home price ($200,000). Get a personalized rate quote in 2 minutes — free.
Your estimate: $1,758/month on a $200,000 home with $40,000 down. Request a free quote in about 2 minutes.
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The median home price in Detroit is $200,000, with an average property tax rate of 1.62% in Wayne County. A typical 15-year fixed 15-year fixed on a median-priced home in Detroit with 20% down would result in an estimated monthly payment of $1,758, including principal, interest, and property taxes.
A 15-year fixed-rate mortgage builds equity twice as fast as a 30-year and typically carries a lower rate — but with a higher monthly payment.
Use the calculator above with Detroit's illustrative defaults to model your own scenario, then tap Get My Free Rate Quote to compare offers from licensed lenders serving Michigan.
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