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2019 FHA Loan Limits in Michigan

If you’re on the hunt for a Federal Housing Administration (FHA) loan in Michigan, you should understand the amount you will potentially be able to borrow. In Michigan, the range of FHA loan limits for a single-family home is $314,827 in the great majority of the state, but it goes up slightly, to $316,250, in a few higher-priced areas.

According to a 2018 FHA annual report, 3.04% of nationwide FHA loans originated in Michigan. A 2016 FHA report found 39,722 FHA loans were made in the state, representing $5.3 billion in value (this is the latest year for which this data is available).

As of July 1, 2018, the U.S. Census Bureau estimates Michigan’s population to be just under 10 million. The state’s largest city is Detroit, whose population was estimated at 673,104 in 2017, followed by Grand Rapids (198,829) and Warren (135,022).

Detroit has experienced a period of growth since it declared the largest-ever U.S. municipal bankruptcy, back in 2013. In 2018, the five-year reported growth rate was 0.3%, ranking the region sixth among peers. In 2017, Detroit’s population grew by more than 7,000 residents, making it the 14th largest metro area in the nation. There is more good news for the city in its population of millenials, which has grown 9.7% since that time.

Michigan FHA loan limits by county

FHA Loan Limits in Michigan
County Single-Family Limit Two-Family Limit Three-Family Limit Four-Family Limit Median Sale Price
Alcona $314,827 $403,125 $487,250 $605,525 $110,000
Alger $314,827 $403,125 $487,250 $605,525 $134,000
Allegan $314,827 $403,125 $487,250 $605,525 $156,000
Alpena $314,827 $403,125 $487,250 $605,525 $105,000
Antrim $314,827 $403,125 $487,250 $605,525 $164,000
Arenac $314,827 $403,125 $487,250 $605,525 $100,000
Baraga $314,827 $403,125 $487,250 $605,525 $103,000
Barry $314,827 $403,125 $487,250 $605,525 $195,000
Bay $314,827 $403,125 $487,250 $605,525 $80,000
Benzie $316,250 $404,850 $489,350 $608,150 $275,000
Berrien $314,827 $403,125 $487,250 $605,525 $129,000
Branch $314,827 $403,125 $487,250 $605,525 $98,000
Calhoun $314,827 $403,125 $487,250 $605,525 $99,000
Cass $314,827 $403,125 $487,250 $605,525 $149,000
Charlevoix $314,827 $403,125 $487,250 $605,525 $175,000
Cheboygan $314,827 $403,125 $487,250 $605,525 $128,000
Chippewa $314,827 $403,125 $487,250 $605,525 $124,000
Clare $314,827 $403,125 $487,250 $605,525 $94,000
Clinton $314,827 $403,125 $487,250 $605,525 $160,000
Crawford $314,827 $403,125 $487,250 $605,525 $106,000
Delta $314,827 $403,125 $487,250 $605,525 $118,000
Dickinson $314,827 $403,125 $487,250 $605,525 $100,000
Eaton $314,827 $403,125 $487,250 $605,525 $160,000
Emmet $314,827 $403,125 $487,250 $605,525 $150,000
Genesee $314,827 $403,125 $487,250 $605,525 $120,000
Gladwin $314,827 $403,125 $487,250 $605,525 $80,000
Gogebic $314,827 $403,125 $487,250 $605,525 $79,000
Grand Traverse $316,250 $404,850 $489,350 $608,150 $275,000
Gratiot $314,827 $403,125 $487,250 $605,525 $101,000
Hillsdale $314,827 $403,125 $487,250 $605,525 $95,000
Houghton $314,827 $403,125 $487,250 $605,525 $112,000
Huron $314,827 $403,125 $487,250 $605,525 $105,000
Ingham $314,827 $403,125 $487,250 $605,525 $160,000
Ionia $314,827 $403,125 $487,250 $605,525 $119,000
Iosco $314,827 $403,125 $487,250 $605,525 $71,000
Iron $314,827 $403,125 $487,250 $605,525 $85,000
Isabella $314,827 $403,125 $487,250 $605,525 $144,000
Jackson $314,827 $403,125 $487,250 $605,525 $114,000
Kalamazoo $314,827 $403,125 $487,250 $605,525 $146,000
Kalkaska $316,250 $404,850 $489,350 $608,150 $275,000
Kent $314,827 $403,125 $487,250 $605,525 $195,000
Keweenaw $314,827 $403,125 $487,250 $605,525 $112,000
Lake $314,827 $403,125 $487,250 $605,525 $90,000
Lapeer $314,827 $403,125 $487,250 $605,525 $237,000
Leelanau $316,250 $404,850 $489,350 $608,150 $275,000
Lenawee $314,827 $403,125 $487,250 $605,525 $125,000
Livingston $314,827 $403,125 $487,250 $605,525 $237,000
Luce $314,827 $403,125 $487,250 $605,525 $91,000
Mackinac $314,827 $403,125 $487,250 $605,525 $140,000
Macomb $314,827 $403,125 $487,250 $605,525 $237,000
Manistee $314,827 $403,125 $487,250 $605,525 $124,000
Marquette $314,827 $403,125 $487,250 $605,525 $130,000
Mason $314,827 $403,125 $487,250 $605,525 $100,000
Mecosta $314,827 $403,125 $487,250 $605,525 $126,000
Menominee $314,827 $403,125 $487,250 $605,525 $106,000
Midland $314,827 $403,125 $487,250 $605,525 $127,000
Missaukee $314,827 $403,125 $487,250 $605,525 $118,000
Monroe $314,827 $403,125 $487,250 $605,525 $147,000
Montcalm $314,827 $403,125 $487,250 $605,525 $195,000
Montmorency $314,827 $403,125 $487,250 $605,525 $108,000
Muskegon $314,827 $403,125 $487,250 $605,525 $100,000
Newaygo $314,827 $403,125 $487,250 $605,525 $115,000
Oakland $314,827 $403,125 $487,250 $605,525 $237,000
Oceana $314,827 $403,125 $487,250 $605,525 $119,000
Ogemaw $314,827 $403,125 $487,250 $605,525 $100,000
Ontonagon $314,827 $403,125 $487,250 $605,525 $79,000
Osceola $314,827 $403,125 $487,250 $605,525 $101,000
Oscoda $314,827 $403,125 $487,250 $605,525 $48,000
Otsego $314,827 $403,125 $487,250 $605,525 $138,000
Ottawa $314,827 $403,125 $487,250 $605,525 $195,000
Presque Isle $314,827 $403,125 $487,250 $605,525 $106,000
Roscommon $314,827 $403,125 $487,250 $605,525 $80,000
Saginaw $314,827 $403,125 $487,250 $605,525 $90,000
Sanilac $314,827 $403,125 $487,250 $605,525 $85,000
Schoolcraft $314,827 $403,125 $487,250 $605,525 $112,000
Shiawassee $314,827 $403,125 $487,250 $605,525 $99,000
St. Clair $314,827 $403,125 $487,250 $605,525 $237,000
St. Joseph $314,827 $403,125 $487,250 $605,525 $110,000
Tuscola $314,827 $403,125 $487,250 $605,525 $76,000
Van Buren $314,827 $403,125 $487,250 $605,525 $146,000
Washtenaw $314,827 $403,125 $487,250 $605,525 $248,000
Wayne $314,827 $403,125 $487,250 $605,525 $237,000
Wexford $314,827 $403,125 $487,250 $605,525 $118,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets FHA loan limits based on the conforming loan limit — or how large of a mortgage Fannie Mae and Freddie Mac will purchase. In 2019, that limit is $484,350.

The FHA “floor” is the largest mortgage the agency will insure in most of the country and is set at $314,827 for 2019. The FHA “ceiling” applies to high-cost areas and is set at 150% of the conforming loan limit, or $726,525. Outside of a few exceptions, this is the highest mortgage the agency will insure for a single-family home. In other areas, loan limits fall somewhere between the FHA floor and ceiling.

Here are the 2019 standard FHA limits for all property types:

  • One-unit: $314,827
  • Two-unit: $403,125
  • Three-unit: $487,250
  • Four-unit: $605,525

Here are the 2019 standard FHA limits for high-cost areas:

  • One-unit: $726,525
  • Two-unit: $930,300
  • Three-unit: $1,124,475
  • Four-unit: $1,397,400

Do you qualify for an FHA loan in Michigan?

Now that you know a little bit more about the basics of FHA loans, you can move forward to figure out whether you qualify for one. This is also the time to research everything surrounding your pending home purchase – up to, and certainly including, home financing information. Visit LendingTree’s FHA hub, which offers basic information about FHA loans and allows you to compare loan rates.

 

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