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  1. United States
  2. Best Mortgage Brokers
  3. Mortgage Brokers in Michigan
  4. Detroit
  5. Mortgage Affordability Calculator
1 · Your income
2 · Down payment
3 · What you can afford
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Mortgage Affordability Calculator Detroit, MI

How much house can you afford in Detroit? See your maximum price, monthly payment and pre-approval estimate. Free, instant, no credit check.

Updated · current rates and lending limits

Add your partner's income if you're buying together.

Car loans, credit cards, lines of credit, student loans. Not rent.

Property tax are for this state.

An estimate, not a mortgage approval or pre-approval. A mortgage broker confirms your real number.

Top-rated mortgage brokers in Detroit

Ranked by TrustAnalytica from verified reviews · see the full Top 10 list →

1

Rocket Mortgage

Rocket Mortgage emphasizes a technology-driven, mostly digital mortgage experience designed to simplify home buying and refinancing. They offer a broad range of loan options, including fixed-rate, adjustable-rate, FHA, VA, and jumbo loans, along with tools like rate alerts and mortgage calculators. Some customers find communication and document handling frustrating, especially during urgent… more...

Rocket Mortgage emphasizes a technology-driven, mostly digital mortgage experience designed to simplify home buying and refinancing. They offer a broad range of loan options, including fixed-rate, adjustable-rate, FHA, VA, and jumbo loans, along with tools like rate alerts and mortgage calculators. Some customers find communication and document handling frustrating, especially during urgent situations.

Services & Prices
Home Loan Application Quoted per loan
Loan Estimate Review Quoted per loan
Mortgage Payment Assistance Quoted per loan
View Profile
(888) 452-8179
Closed Now
1050 Woodward Ave, Detroit, MI 48226
General Services
Mortgage Services
2

Home Advantage Lending

Home Advantage Lending focuses on making the mortgage process simple and personal, especially for first-time homebuyers. They assist with home purchases, refinancing, and home equity loans, guiding clients through each step with clear explanations. Customers appreciate their helpfulness and efficient, transparent service throughout the process.

View Profile
(800) 939-3505
Closed Now
211 W Fort St Ste 1600, Detroit, MI 48226
3

Belong Lending l Demetris Holloway l Mortgage Loan Officer

Belong Lending specializes in guiding clients through mortgage loans across various price ranges with clear communication and efficient service. The team focuses on helping buyers navigate the process smoothly, often closing loans ahead of schedule. Customers appreciate their professionalism and responsiveness throughout the experience.

View Profile
(248) 521-0467
Open 9:00 AM - 8:00 PM
7436 Woodward Ave #205, Detroit, MI 48202
4

Mino Lending Solutions

Mino Lending Solutions specializes in DSCR loans and ground-up construction financing, particularly for real estate investors and developers. The team offers access to multiple funding sources and clear, reliable communication throughout complex projects. Customers appreciate their follow-through and straightforward approach, though the process can be challenging due to the nature of construction… more...

Mino Lending Solutions specializes in DSCR loans and ground-up construction financing, particularly for real estate investors and developers. The team offers access to multiple funding sources and clear, reliable communication throughout complex projects. Customers appreciate their follow-through and straightforward approach, though the process can be challenging due to the nature of construction loans.

Services & Prices
Construction Loans Quoted per loan
DSCR Loans Quoted per loan
Real Estate Financing Quoted per loan
View Profile
(866) 646-6536
Closed Now
6001 Cass Ave, Detroit, MI 48202
General Services
Lending Solutions
5

Mortgage Book

Mortgage Book takes a personalized, common-sense approach to mortgage lending, tailoring loan solutions to each client’s unique financial situation. They assist with home purchases, refinancing, and specialized loans like FHA, VA, and jumbo loans, combining modern technology with attentive service. Clients appreciate the clear communication and smooth process throughout their financing journey.

View Profile
(313) 777-8817
Open 00:00 - 23:59
1001 Woodward Ave, Detroit, MI 48226
Where they are 10 on the map Click a pin for the profile and directions
6

Belong Lending

Belong Lending focuses on making homeownership accessible through clear, step-by-step guidance and educational support. They offer a wide range of mortgage options, including first-time homebuyer programs, renovation loans, and investor financing. Customers appreciate the team’s personal approach and transparency, though some find the process takes patience.

Services & Prices
Conventional Loans Quoted per loan
FHA Loans Quoted per loan
VA Loans Quoted per loan
Application Fee Quoted per loan
View Profile
(248) 325-8554
Open 8:00 AM - 8:00 PM
7436 Woodward Ave #205, Detroit, MI 48202
General Services
Mortgage Services
7

Belong Lending l Jalen Scott l Mortgage Broker

Belong Lending specializes in guiding clients through the mortgage process with clear communication and attentive service. The team handles everything from application to closing, addressing questions promptly and keeping customers informed. While the process is generally smooth, some clients note it moves quickly, requiring timely responses.

Services & Prices
Fixed Rate Mortgage Quoted per loan
Adjustable Rate Mortgage Quoted per loan
FHA Loan Quoted per loan
Dispute Resolution $30 - $80
View Profile
(517) 214-2952
Closed Now
7436- 7450 Woodward Ave Ste 205, Detroit, MI 48202
General Services
Home Loan
8

Hard Money Global

Hard Money Global specializes in financial solutions for both domestic and international investors, with a strong focus on assisting foreign clients. The team offers mortgage brokerage services that often involve securing cash-out financing and closing deals others might hesitate to handle. Customers appreciate clear communication and a smooth process, though some find the approach… more...

Hard Money Global specializes in financial solutions for both domestic and international investors, with a strong focus on assisting foreign clients. The team offers mortgage brokerage services that often involve securing cash-out financing and closing deals others might hesitate to handle. Customers appreciate clear communication and a smooth process, though some find the approach straightforward and businesslike.

Services & Prices
Bridge Loans Quoted per loan
Fix and Flip Loans Quoted per loan
Cash-Out Refinance Quoted per loan
View Profile
(313) 772-1958
Closed Now
1322 Broadway St #100, Detroit, MI 48226
General Services
Hard Money Lending
9

Midtown Home Mortgage

Midtown Home Mortgage specializes in offering wholesale pricing on a wide range of loan types, including Conventional, FHA, VA, First Time Home Buyer, and Jumbo loans. Serving clients in Michigan and Florida, the team is known for responsive communication and guiding borrowers smoothly through home purchases and refinancing. Some customers note the process is fast and clear, with helpful… more...

Midtown Home Mortgage specializes in offering wholesale pricing on a wide range of loan types, including Conventional, FHA, VA, First Time Home Buyer, and Jumbo loans. Serving clients in Michigan and Florida, the team is known for responsive communication and guiding borrowers smoothly through home purchases and refinancing. Some customers note the process is fast and clear, with helpful explanations along the way.

Services & Prices
Home Purchase Mortgage Quoted per loan
Refinance Mortgage Quoted per loan
Pre-Approval Letters Quoted per loan
View Profile
(586) 242-2307
Closed Now
1344 Bagley St, Detroit, MI 48226
General Services
Mortgage Services
10

Antoinette Gassaway - Belong Lending

Belong Lending specializes in guiding first-time homebuyers through the mortgage process with clear communication and responsive support, often beyond regular hours. The team offers mortgage pre-approvals, competitive rates, and helps clients close quickly, with many appreciating their straightforward approach and industry connections.

Services & Prices
Pre-Approval Quoted per loan
Closing Cost Assistance Quoted per loan
View Profile
(810) 488-0315
Open 8:00 AM - 8:00 PM
7436 Woodward Ave #205, Detroit, MI 48202
General Services
Mortgage Services

Detroit Mortgage Statistics

Home-purchase lending in Wayne County and home costs in Detroit, MI (latest HMDA and Census data)

Lenders made 16,170 home-purchase loans in Wayne County in 2025 (average about $231,000) and denied 3,939 — 20% of decided applications, compared with 16% across Michigan, according to federal mortgage data (HMDA, CFPB). In Detroit, the median home is worth $83,900 and 34% of owners have a mortgage, paying a median $1,238 a month (Census ACS 2020–2024).

Home-purchase loans, 2025
16,170▼ 1%16,361 in 2024
Denial rate
20%MI 16%
Median home value
$83,900MI $231,600
Monthly cost with a mortgage
$1,238median · MI $1,569
Refinance loans made (Wayne County, 2025)
10,775 · 7,791 in 2024
Home-improvement loans made (2025)
3,331
Average home-purchase loan
$231,000 (MI $306,000)
Owners with a mortgage
34% · 36% of them spend 30%+ of income on housing
Median household income
$39,938 (MI $72,875)

Source: CFPB / FFIEC Home Mortgage Disclosure Act (HMDA) data, 2024–2025 loan applications in Wayne County (originated vs denied); home values and costs: U.S. Census Bureau ACS 2020–2024. Compiled by TrustAnalytica.

Detroit Mortgage Brokers stats: 10 businesses compared side by side · updated
# Business Rating Reviews Starting price Phone Website
1 Rocket Mortgage 3.7 1537 Quoted per loan (888) 452-8179 Visit
2 Home Advantage Lending 5.0 155 — (800) 939-3505 Visit
3 Belong Lending l Demetris Holloway l Mortgage Loan Officer 5.0 134 — (248) 521-0467 Visit
4 Mino Lending Solutions 5.0 122 Quoted per loan (866) 646-6536 Visit
5 Mortgage Book 5.0 111 — (313) 777-8817 Visit
6 Belong Lending 5.0 80 Quoted per loan (248) 325-8554 Visit
7 Belong Lending l Jalen Scott l Mortgage Broker 5.0 64 $30 (517) 214-2952 Visit
8 Hard Money Global 4.4 34 Quoted per loan (313) 772-1958 Visit
9 Midtown Home Mortgage 5.0 28 Quoted per loan (586) 242-2307 Visit
10 Antoinette Gassaway - Belong Lending 4.9 16 Quoted per loan (810) 488-0315 —

How this Detroit mortgage affordability calculator works

Lenders look at your debt-to-income ratio. Housing costs (principal and interest, property tax, homeowners insurance and mortgage insurance) should stay under about 31% of your gross monthly income, and housing plus your other monthly debts under 43%. The calculator finds the highest home price that passes both tests with your down payment, on a 30-year fixed loan.

Michigan rules and numbers this calculator uses

Debt-to-income
31% for housing and 43% total, the FHA standard and the long-time Qualified Mortgage limit. Some conventional loans go higher with strong credit and savings.
Down payment
At least 3% on a conventional first-time buyer loan (3.5% on FHA). Under 20% down, private mortgage insurance of about 0.6% of the loan a year is added to the payment.
Property tax
About 1.13% of the home's value a year, the Michigan average for owner-occupied homes (2024 Census ACS).
Insurance
Homeowners insurance assumed at $150 a month; it varies a lot by home and location.
Rate
Starts at 7.40% (Freddie Mac 30-year average, October 2026). Change it to the rate you have been quoted.

An estimate, not a mortgage approval or pre-approval. Your credit, income type, the property and the lender all change the answer; a mortgage broker confirms your real number. Sources: Freddie Mac Primary Mortgage Market Survey (October 2026), U.S. Census Bureau American Community Survey 2024 property tax data, FHA and CFPB debt-to-income guidance.

Frequently asked questions

9 questions
How does the mortgage affordability calculator work?
It estimates the highest home price you can qualify for based on income, debts, down payment, interest rate, and buyer status.
What is the debt-to-income ratio for mortgages in Michigan?
Lenders often cap housing costs at 31% and total debt at 43% of gross monthly income; some loans allow more with strong credit.
What is the minimum down payment for a home in Detroit?
Minimum down payments are 3% for conventional loans and 3.5% for FHA loans; VA and USDA loans may allow 0% down for eligible buyers.
How do interest rates affect how much house I can afford?
Higher interest rates increase monthly payments, reducing the home price you can afford. Rates change weekly, affecting affordability.
How do my debts affect my mortgage eligibility?
Higher monthly debts reduce the mortgage amount you can qualify for, as lenders consider total debt-to-income ratios.
What is the property tax rate in Michigan?
The property tax rate is about 1.13% of the home's value annually for owner-occupied homes, based on 2024 averages.
What's the difference between pre-approval and pre-qualification?
Pre-approval involves lender verification of income, debts, and credit, while pre-qualification is an initial estimate without verification.
Do I need private mortgage insurance in Detroit?
If your down payment is under 20% on a conventional loan, PMI is required, typically 0.6% of the loan annually.
How accurate is the mortgage affordability estimate?
The estimate is a guideline; actual approval depends on verified income, debts, credit, and down payment.

General information, not financial advice — consult a qualified professional.