Mortgage Rates in Wixom, Michigan — March 2026
Updated March 2026 | Based on Wixom market data and regional lending conditions
Wixom is a growing city in Michigan with a population of 13,498. The current 30-year fixed mortgage rate in Wixom is 6.88%, which is 0.23% above the national average. With a median home price of $220,000 and a 20% down payment of $44,000, homebuyers can expect a monthly principal and interest payment of approximately $1,157.
Current Mortgage Rates in Wixom, MI
Below are the current average mortgage rates available in the Wixom area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.88% | 6.65% | +0.23% |
| 15-Year Fixed | 6.1% | 5.89% | +0.21% |
| 5/1 ARM | 6.33% | 6.15% | +0.18% |
| FHA | 6.57% | 6.25% | +0.32% |
| VA | 6.32% | 6.05% | +0.27% |
| Jumbo | 7.13% | 6.85% | +0.28% |
Wixom Housing Market Overview
The Wixom housing market offers relatively affordable housing compared to many major cities. The median household income in Wixom is $55,100, and the cost of living index is 82.4 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $62,486 to comfortably afford the median-priced home in Wixom, which exceeds the current median household income.
Monthly Payment Breakdown for Wixom
Based on the median home price of $220,000 with 20% down ($44,000), here is what you can expect to pay monthly in Wixom:
15-Year vs. 30-Year Mortgage in Wixom
Choosing a 15-year mortgage in Wixom at 6.1% instead of a 30-year at 6.88% would save you $147,420 in total interest over the life of the loan. However, your monthly payment would be $1,495 instead of $1,157 — an increase of $338 per month.
Calculate Your Wixom Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Wixom
What are the current mortgage rates in Wixom, MI?
As of March 2026, the average 30-year fixed mortgage rate in Wixom, Michigan is 6.88%, while the 15-year fixed rate is 6.1%. FHA loans average 6.57% and VA loans 6.32%. These rates are 0.23% above the national average of 6.65%.
How much is a monthly mortgage payment in Wixom?
Based on the median home price of $220,000 with 20% down, the estimated monthly mortgage payment in Wixom is $1,157 for principal and interest. Including property taxes of $301/month, the total monthly housing cost is approximately $1,458.
What income do I need to buy a home in Wixom?
Using the 28% rule, you would need an annual income of approximately $62,486 to afford the median-priced home in Wixom at $220,000. The median household income in Wixom is $55,100. This means most households would need to either earn above the median or consider homes below $220,000.
Is Wixom a good place to buy a home in 2026?
Wixom offers a below-average cost of living with a cost of living index of 82.4 (national average = 100). The property tax rate in Michigan is 1.64%, which is above the national average. Wixom has a population of 13,498 and offers a very affordable lifestyle.
Mortgage Rates in Other Michigan Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Wixom, Michigan area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.