No Calculator Here, and That Is Deliberate
Program and regulatory figures verified October 9, 2026. Details change; confirm your scenario with us.
A calculator that invents a rate gives you a number precise enough to plan around and wrong enough to hurt. Here is the arithmetic that actually matters instead.
Why there is no widget
A payment needs a rate. We do not publish rates or payment figures anywhere on this site, because they depend on your credit, your down payment, your programme and the day.
So a calculator here would have to make one up. That produces a figure that looks authoritative, gets written into a budget, and is wrong. We would rather run your actual file.
★ What a generic calculator leaves out in Michigan
| Line | Michigan specifics |
|---|---|
| Transfer tax | 0.86% combined, about $3,440 on $400,000. Customarily the seller's, but negotiable, and a real concession if you offer it. The statutes |
| Property tax | varies by taxing jurisdiction; get the figure for the specific parcel, not a county average |
| Insurance | a quote, not a rule of thumb |
| ★ Student loan payment | the number that usually decides a Michigan physician file. How it is counted |
| Loan limit | ★ $832,750 everywhere in Michigan, do not model a jumbo you almost certainly do not need |
★★ The modelling mistake we see most
Treating a pending MSLRP award as money in hand.
It is not, for three reasons, each of them MDHHS's own: agreements for the 2026 cycle begin 1 October 2026; the $300,000 is a maximum over up to 10 years through consecutive two-year agreements you compete for each time; and participation is "contingent upon the availability of program funds at the time of contracting."
★ Model the mortgage on the salary. If the award arrives, it improves a picture that already worked. What the award actually promises.
A worked example of the one number we can compute
Michigan transfer tax is pure arithmetic on a statutory rate, so we can show it:
- State: $3.75 per $500 = 0.75%
- County: 55 cents per $500 = 0.11%
- Combined: $8.60 per $1,000 = 0.86%
- On $400,000: about $3,440. On Grand Rapids' typical $357,283: about $3,073.
Send four things
- Your signed contract: start date and compensation.
- Your student loan balances, servicer and current status.
- Your target price range and metro.
- Whether you are applying for MSLRP, and in which category.
With those we give you a real answer on real pricing, same day in most cases.
Mike Certo, NMLS #260555. (480) 296-6513 · mcerto@cfmtg.com.
Frequently asked questions
Why is there no payment calculator on this page?
Because a payment requires an interest rate, and this site publishes no rates or payment figures. A calculator would have to invent one, producing a number precise enough to plan around and wrong enough to cause harm. Send the file and we run real numbers on real pricing instead.What costs does a generic mortgage calculator miss in Michigan?
The combined 0.86 percent real estate transfer tax, which is customarily the seller's cost but negotiable; property tax for the specific parcel rather than a county average; an actual insurance quote; and the student loan payment, which is usually the figure that decides a Michigan physician file.Should I include an expected MSLRP award in my budget?
No. Agreements for the 2026 cycle begin October 1, 2026, the $300,000 is a maximum reached over up to ten years through consecutive two-year agreements that must be competed for, and the Michigan Department of Health and Human Services states participation is contingent on the availability of programme funds. Model the mortgage on salary and treat an award as upside.How do I calculate Michigan transfer tax?
Add the state rate of $3.75 per $500 and the county rate of 55 cents per $500, giving $8.60 per $1,000 or 0.86 percent of the consideration. On a $400,000 purchase that is about $3,440, customarily paid by the seller.Mike Certo · NMLS #260555 · Cornerstone First Mortgage NMLS #173855 · Equal Housing Lender. Educational content about physician mortgage financing, not a loan commitment and not legal, tax or financial advice. The Michigan State Loan Repayment Program is administered by the Michigan Department of Health and Human Services, not by Cornerstone; its terms, award amounts, priorities and application windows are set by MDHHS and change. Figures here carry the date we verified them against the programme's own published materials. Physician-loan program terms, eligible degrees and overlays are set by the lender and change. All loans are subject to borrower, property and program qualification.