Mahon Homes
JUST LISTED
514 Lake Street
Howell, MI 48843
List Price
$298,888
3 Bed · 2 Bath · 1,904 sq ft
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Don Rose
Mahon Homes Lic #451932 · Don Rose Lic #428299
"Helping Howell-area buyers find the right home at the right number."
Call / Text
(810) 875-4084
Email
don@mahonhomes.com
Three Ways to Own This Home
Estimated payments — Conventional at 6.375%, 30-year fixed, 740 FICO, owner-occupied primary residence
Down Payment
5%
$14,944
Loan Amount$283,944
Principal & Interest$1,771
Mortgage Insurance$68
Property Taxes$388
Homeowners Insurance$100
Total Monthly$2,327
Your Monthly Payment
$2,327
APR 6.773%
Down Payment
10%
$29,889
Loan Amount$268,999
Principal & Interest$1,678
Mortgage Insurance$47
Property Taxes$388
Homeowners Insurance$100
Total Monthly$2,213
Your Monthly Payment
$2,213
APR 6.695%
Down Payment
20%
$59,778
Loan Amount$239,110
Principal & Interest$1,492
Mortgage Insurance$0
Property Taxes$388
Homeowners Insurance$100
Total Monthly$1,980
Your Monthly Payment
$1,980
APR 6.570%
Mortgage Insurance (MI): Required on conventional loans above 80% LTV; auto-cancels at 78% LTV per the Homeowners Protection Act.
Run Your Own Numbers
Adjust the down payment, rate, or price — see your payment update live.

Estimated Monthly Payment

Loan Amount
Principal & Interest
Mortgage Insurance
Property Taxes (est)
Insurance (est)
Total Monthly
Cash to Close (est): — down payment + ~$7,500 closing. Ask Rob about credits, gift funds, and DPA.
The Cost of Waiting
"I'll wait for rates to drop" is the most expensive sentence in real estate. Here's the math.
ScenarioBuy TodayWait 6 monthsWait 1 yearWait 2 yearsWait 3 years
Property Value (3.5% est.)$298,888$304,074 ▲ 1.7%$309,349 ▲ 3.5%$320,176 ▲ 7.1%$331,382 ▲ 10.9%
Down Payment Needed (5%)$14,944$15,204$15,467$16,009$16,569
P&I + MI Payment$1,840$1,840$1,840$1,840$1,840
Lost Appreciation—$5,186$10,461$21,288$32,494
Lost Equity Build-up—$1,599$3,250$6,713$10,403
TOTAL COST OF WAITING$0$6,785$13,711$28,001$42,898
5 Years from Now
What does owning this home do for your finances vs. renting?
IF YOU BUY
Net Wealth in 5 Years
+$74,624
Home value (3.5%/yr)$354,985
Loan balance (60 pmts)$265,417
= Total equity$89,568
Less down payment−$14,944
Net wealth gain+$74,624
IF YOU RENT
Net Wealth in 5 Years
-$152,903
Year 1 rent ($2400/mo)$28,800
Years 1–5 rent (3%/yr)$152,903
Equity built$0
Net wealth gain-$152,903
5-Year Wealth Swing: Buying vs Renting
$227,527
Financing Made Simple
Backed by McKenney Home Lending — a Michigan-licensed mortgage broker partnering with Mahon Homes.
Rob McKenney
Owner / Mortgage Broker · McKenney Home Lending
"My job is to make sure the path to ownership is honest, fast, and built around your situation. We'll figure it out!"
NMLS #23394 · Company NMLS #2497854
Apply NowSchedule a Call
Equal Housing Lender · Mahon Homes (Brokerage Lic #451932) · Don Rose (Lic #428299) · Rob McKenney NMLS #23394 · McKenney Home Lending NMLS #2497854
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McKenney Home Lending is a licensed Michigan mortgage broker (NMLS 2497854). Rates and payment scenarios shown are based on a $298,888 owner-occupied single-family purchase in Howell (Livingston County), MI, 740 FICO, 30-year fixed, current as of 2026-06-25. APR is shown with equal prominence to the interest rate. Conventional MI is required above 80% LTV and auto-cancels at 78% LTV per the Homeowners Protection Act; MI factors are estimates and vary by FICO, LTV, and product. Property tax estimate reflects the post-sale uncapped taxable value (SEV $85,048) at ~54.8 mills with Principal Residence Exemption; the seller's current capped taxable value is $85,048 (current taxes $4,660/yr), so first-year escrow may initially be set lower. Not a commitment to lend. Subject to credit approval, underwriting and appraisal. Equal Housing Lender.