Closing Cost Calculator for Michigan

Closing Costs in Michigan

Buyers in Michigan typically pay around $3,100 in total closing costs. Michigan charges a transfer tax of $3.75/$500 of value at the state level plus county transfer taxes of up to $0.55/$500. Combined costs can reach 0.86% of sale price.

What's Included in Michigan Closing Costs?

• Transfer & recording taxes: Michigan charges a transfer tax of $3.75/$500 of value at the state level plus county transfer taxes of up to $0.55/$500. Combined costs can reach 0.86% of sale price.
• Lender fees: Origination, underwriting, and processing fees — typically 0.5–1% of the loan amount regardless of state.
• Title insurance: Owner's and lender's policies, required in most Michigan transactions.
• Prepaid items: First year homeowner's insurance premium, prepaid property tax escrow, and prepaid interest.
• Escrow/attorney fees: Michigan typically uses attorneys to close real estate transactions.

Home Values & Loan Context

With a median home value of $225,000 in Michigan, a 10% down payment buyer would borrow around $203,000. The conforming loan limit is $726,200 — All Michigan counties are at the standard conforming limit.

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