2024 FHA Loan Limits in Michigan
If you are looking to buy a home in Michigan but you don’t have much money saved for a down payment, a loan backed by the Federal Housing Administration (FHA) could be your best shot. Homebuyers can qualify for FHA loans with down payments as low as 3.5%, and you don’t need good credit to qualify.
In 2024, the FHA loan limit is $498,257 to buy a single-family home in Michigan. That’s $26,227 higher than the 2023 borrowing maximum.
Michigan FHA loan limits by county
| County name | One unit | Two units | Three units | Four units | Median sales price |
|---|---|---|---|---|---|
| ALCONA | $498,257 | $637,950 | $771,125 | $958,350 | $120,000 |
| ALGER | $498,257 | $637,950 | $771,125 | $958,350 | $141,000 |
| ALLEGAN | $498,257 | $637,950 | $771,125 | $958,350 | $237,000 |
| ALPENA | $498,257 | $637,950 | $771,125 | $958,350 | $120,000 |
| ANTRIM | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| ARENAC | $498,257 | $637,950 | $771,125 | $958,350 | $90,000 |
| BARAGA | $498,257 | $637,950 | $771,125 | $958,350 | $90,000 |
| BARRY | $498,257 | $637,950 | $771,125 | $958,350 | $210,000 |
| BAY | $498,257 | $637,950 | $771,125 | $958,350 | $125,000 |
| BENZIE | $498,257 | $637,950 | $771,125 | $958,350 | $335,000 |
| BERRIEN | $498,257 | $637,950 | $771,125 | $958,350 | $182,000 |
| BRANCH | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| CALHOUN | $498,257 | $637,950 | $771,125 | $958,350 | $145,000 |
| CASS | $498,257 | $637,950 | $771,125 | $958,350 | $189,000 |
| CHARLEVOIX | $498,257 | $637,950 | $771,125 | $958,350 | $280,000 |
| CHEBOYGAN | $498,257 | $637,950 | $771,125 | $958,350 | $266,000 |
| CHIPPEWA | $498,257 | $637,950 | $771,125 | $958,350 | $88,000 |
| CLARE | $498,257 | $637,950 | $771,125 | $958,350 | $95,000 |
| CLINTON | $498,257 | $637,950 | $771,125 | $958,350 | $226,000 |
| CRAWFORD | $498,257 | $637,950 | $771,125 | $958,350 | $110,000 |
| DELTA | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| DICKINSON | $498,257 | $637,950 | $771,125 | $958,350 | $110,000 |
| EATON | $498,257 | $637,950 | $771,125 | $958,350 | $226,000 |
| EMMET | $498,257 | $637,950 | $771,125 | $958,350 | $210,000 |
| GENESEE | $498,257 | $637,950 | $771,125 | $958,350 | $155,000 |
| GLADWIN | $498,257 | $637,950 | $771,125 | $958,350 | $124,000 |
| GOGEBIC | $498,257 | $637,950 | $771,125 | $958,350 | $113,000 |
| GRAND TRAVERSE | $498,257 | $637,950 | $771,125 | $958,350 | $335,000 |
| GRATIOT | $498,257 | $637,950 | $771,125 | $958,350 | $121,000 |
| HILLSDALE | $498,257 | $637,950 | $771,125 | $958,350 | $140,000 |
| HOUGHTON | $498,257 | $637,950 | $771,125 | $958,350 | $119,000 |
| HURON | $498,257 | $637,950 | $771,125 | $958,350 | $196,000 |
| INGHAM | $498,257 | $637,950 | $771,125 | $958,350 | $226,000 |
| IONIA | $498,257 | $637,950 | $771,125 | $958,350 | $320,000 |
| IOSCO | $498,257 | $637,950 | $771,125 | $958,350 | $129,000 |
| IRON | $498,257 | $637,950 | $771,125 | $958,350 | $75,000 |
| ISABELLA | $498,257 | $637,950 | $771,125 | $958,350 | $145,000 |
| JACKSON | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| KALAMAZOO | $498,257 | $637,950 | $771,125 | $958,350 | $214,000 |
| KALKASKA | $498,257 | $637,950 | $771,125 | $958,350 | $335,000 |
| KENT | $498,257 | $637,950 | $771,125 | $958,350 | $320,000 |
| KEWEENAW | $498,257 | $637,950 | $771,125 | $958,350 | $119,000 |
| LAKE | $498,257 | $637,950 | $771,125 | $958,350 | $207,000 |
| LAPEER | $498,257 | $637,950 | $771,125 | $958,350 | $325,000 |
| LEELANAU | $498,257 | $637,950 | $771,125 | $958,350 | $335,000 |
| LENAWEE | $498,257 | $637,950 | $771,125 | $958,350 | $171,000 |
| LIVINGSTON | $498,257 | $637,950 | $771,125 | $958,350 | $325,000 |
| LUCE | $498,257 | $637,950 | $771,125 | $958,350 | $73,000 |
| MACKINAC | $498,257 | $637,950 | $771,125 | $958,350 | $224,000 |
| MACOMB | $498,257 | $637,950 | $771,125 | $958,350 | $325,000 |
| MANISTEE | $498,257 | $637,950 | $771,125 | $958,350 | $140,000 |
| MARQUETTE | $498,257 | $637,950 | $771,125 | $958,350 | $183,000 |
| MASON | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| MECOSTA | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| MENOMINEE | $498,257 | $637,950 | $771,125 | $958,350 | $115,000 |
| MIDLAND | $498,257 | $637,950 | $771,125 | $958,350 | $174,000 |
| MISSAUKEE | $498,257 | $637,950 | $771,125 | $958,350 | $239,000 |
| MONROE | $498,257 | $637,950 | $771,125 | $958,350 | $200,000 |
| MONTCALM | $498,257 | $637,950 | $771,125 | $958,350 | $320,000 |
| MONTMORENCY | $498,257 | $637,950 | $771,125 | $958,350 | $110,000 |
| MUSKEGON | $498,257 | $637,950 | $771,125 | $958,350 | $165,000 |
| NEWAYGO | $498,257 | $637,950 | $771,125 | $958,350 | $141,000 |
| OAKLAND | $498,257 | $637,950 | $771,125 | $958,350 | $325,000 |
| OCEANA | $498,257 | $637,950 | $771,125 | $958,350 | $110,000 |
| OGEMAW | $498,257 | $637,950 | $771,125 | $958,350 | $84,000 |
| ONTONAGON | $498,257 | $637,950 | $771,125 | $958,350 | $72,000 |
| OSCEOLA | $498,257 | $637,950 | $771,125 | $958,350 | $162,000 |
| OSCODA | $498,257 | $637,950 | $771,125 | $958,350 | $78,000 |
| OTSEGO | $498,257 | $637,950 | $771,125 | $958,350 | $278,000 |
| OTTAWA | $498,257 | $637,950 | $771,125 | $958,350 | $320,000 |
| PRESQUE ISLE | $498,257 | $637,950 | $771,125 | $958,350 | $105,000 |
| ROSCOMMON | $498,257 | $637,950 | $771,125 | $958,350 | $140,000 |
| SAGINAW | $498,257 | $637,950 | $771,125 | $958,350 | $126,000 |
| SANILAC | $498,257 | $637,950 | $771,125 | $958,350 | $145,000 |
| SCHOOLCRAFT | $498,257 | $637,950 | $771,125 | $958,350 | $184,000 |
| SHIAWASSEE | $498,257 | $637,950 | $771,125 | $958,350 | $226,000 |
| ST. CLAIR | $498,257 | $637,950 | $771,125 | $958,350 | $325,000 |
| ST. JOSEPH | $498,257 | $637,950 | $771,125 | $958,350 | $153,000 |
| TUSCOLA | $498,257 | $637,950 | $771,125 | $958,350 | $135,000 |
| VAN BUREN | $498,257 | $637,950 | $771,125 | $958,350 | $162,000 |
| WASHTENAW | $498,257 | $637,950 | $771,125 | $958,350 | $353,000 |
| WAYNE | $498,257 | $637,950 | $771,125 | $958,350 | $325,000 |
| WEXFORD | $498,257 | $637,950 | $771,125 | $958,350 | $239,000 |
How are FHA loan limits determined?
Every year the FHA determines if they’ll increase loan limits for each county or Metropolitan Statistical Area (MSA) based on changes in the sale prices of homes in the area.
The FHA also uses information from the Federal Housing Finance Agency (FHFA) to set its national ceiling (or maximum loan amount) and floor (the smallest max amount). The FHA floor is set at 65% of the national conforming loan limit and the ceiling is set at 150%. For 2024, the national floor and ceiling for single-unit properties are $498,257 and $1,149,825, respectively.
The FHA announces this information each November and the changes go into effect on the first day of the following year.
How to qualify for an FHA loan in Michigan
To get an FHA loan, you’ll have to go through a private lender who offers FHA-backed mortgages. Each lender may have unique fees and steps in their application process, but you’ll have to meet these requirements to qualify for an FHA-backed loan regardless of the lender:
→ Credit scores: Minimum credit scores of 500.
→ Down payment: Minimum of either 3.5% of the loan amount (for credit scores above 579) or 10% (for scores between 500 and 579).
→ Debt-to-income ratio (DTI): Monthly debt payments can’t exceed 43% of your gross monthly income.
→ Federal debt: No federal liens or overdue federal debt.
→ Lender fees: Ability to pay the lender’s closing costs and fees.
→ Mortgage insurance: Ability to pay an upfront FHA mortgage insurance premium of 1.75% of the loan amount and an annual premium of 0.15% to 0.75%.
→ Residence: The home will be your primary residence.
Buying a multifamily property with an FHA loan
FHA loans aren’t just for people who want to buy single-family homes. You can also take out an FHA-backed loan to build, rehabilitate or buy a multifamily property with up to four units, and with a down payment as low as 3.5%.
| Number of units | Low-cost FHA loan limit |
|---|---|
| Two | $637,950 |
| Three | $771,125 |
| Four | $958,350 |
FHA lenders in Michigan
Lender | LendingTree rating | Min. FHA credit score | |
|---|---|---|---|
 | 580 | ||
 | Not disclosed | ||
 | 580 | ||
 | 580 | ||
 | 580 |
