Mortgage Rates in Burton, Michigan — March 2026
Updated March 2026 | Based on Burton market data and regional lending conditions
Burton is a growing city in Michigan with a population of 28,545. The current 30-year fixed mortgage rate in Burton is 6.81%, which is 0.16% 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 $1,149.
Current Mortgage Rates in Burton, MI
Below are the current average mortgage rates available in the Burton 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 | 6.81% | 6.65% | +0.16% |
| 15-Year Fixed | 6.04% | 5.89% | +0.15% |
| 5/1 ARM | 6.29% | 6.15% | +0.14% |
| FHA | 6.53% | 6.25% | +0.28% |
| VA | 6.28% | 6.05% | +0.23% |
| Jumbo | 7.06% | 6.85% | +0.21% |
Burton Housing Market Overview
The Burton housing market offers relatively affordable housing compared to many major cities. The median household income in Burton is $55,200, and the cost of living index is 83.3 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $61,586 to comfortably afford the median-priced home in Burton, which exceeds the current median household income.
Monthly Payment Breakdown for Burton
Based on the median home price of $220,000 with 20% down ($44,000), here is what you can expect to pay monthly in Burton:
15-Year vs. 30-Year Mortgage in Burton
Choosing a 15-year mortgage in Burton at 6.04% instead of a 30-year at 6.81% would save you $145,620 in total interest over the life of the loan. However, your monthly payment would be $1,489 instead of $1,149 — an increase of $340 per month.
Calculate Your Burton 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 Burton
What are the current mortgage rates in Burton, MI?
As of March 2026, the average 30-year fixed mortgage rate in Burton, Michigan is 6.81%, while the 15-year fixed rate is 6.04%. FHA loans average 6.53% and VA loans 6.28%. These rates are 0.16% above the national average of 6.65%.
How much is a monthly mortgage payment in Burton?
Based on the median home price of $220,000 with 20% down, the estimated monthly mortgage payment in Burton is $1,149 for principal and interest. Including property taxes of $288/month, the total monthly housing cost is approximately $1,437.
What income do I need to buy a home in Burton?
Using the 28% rule, you would need an annual income of approximately $61,586 to afford the median-priced home in Burton at $220,000. The median household income in Burton is $55,200. This means most households would need to either earn above the median or consider homes below $220,000.
Is Burton a good place to buy a home in 2026?
Burton offers a below-average cost of living with a cost of living index of 83.3 (national average = 100). The property tax rate in Michigan is 1.57%, which is above the national average. Burton has a population of 28,545 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 Burton, Michigan area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.