Get a ballpark monthly payment based on your home price, down payment, and loan term. This is an estimate — your actual payment will depend on your credit profile and the lender's rate.
Select your property type, enter your home price, choose your down payment and loan term, and adjust the estimated interest rate. The calculator shows your estimated principal and interest payment plus a full cost breakdown.
When you select "Home in a Park Community," the calculator automatically adds two costs to your loan amount:
| Cost | Rate | Notes |
|---|---|---|
| Sales tax | 6% | Applied to purchase price — Michigan rate |
| Est. closing costs | 5.5% | Estimate only — actual costs vary |
This calculator shows principal and interest only. Your total monthly housing cost will also include:
| Cost | Notes |
|---|---|
| Lot rent | If your home is in a park — typically $300–$900/month |
| Homeowner's insurance (HOI) | Required by lenders |
| Utilities | Not included in lot rent in most communities |
| Credit Score | Max DTI |
|---|---|
| 600 and above | 50% |
| Below 600 | 48% |
Principal & interest only · Adjust inputs to explore
Soft credit pull only · No commitment required