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2021 FHA Loan Limits in Michigan

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If you’re on the hunt for a home in Michigan, you can borrow up to $356,362 for a single-family home in 2021 with an FHA loan. So whether you want to buy in Detroit, Grand Rapids or the Upper Peninsula, the limit is the same.

If you’re thinking about buying a house in Michigan, this may be a good time. Thanks to the Federal Housing Administration (FHA), Michigan homebuyers can qualify for federally backed loans to help get them into a new house, or have more borrowing power to refinance an FHA loan in 2021.

Michigan FHA loan limits by county

FHA Loan Limits in Michigan
County Name One-Family Two-Family Three-Family Four-Family Median Sale Price
Alcona $356,362 $456,275 $551,500 $685,400 $80,000
Alger $356,362 $456,275 $551,500 $685,400 $110,000
Allegan $356,362 $456,275 $551,500 $685,400 $175,000
Alpena $356,362 $456,275 $551,500 $685,400 $86,000
Antrim $356,362 $456,275 $551,500 $685,400 $135,000
Arenac $356,362 $456,275 $551,500 $685,400 $85,000
Baraga $356,362 $456,275 $551,500 $685,400 $72,000
Barry $356,362 $456,275 $551,500 $685,400 $160,000
Bay $356,362 $456,275 $551,500 $685,400 $87,000
Benzie $356,362 $456,275 $551,500 $685,400 $264,000
Berrien $356,362 $456,275 $551,500 $685,400 $148,000
Branch $356,362 $456,275 $551,500 $685,400 $115,000
Calhoun $356,362 $456,275 $551,500 $685,400 $112,000
Cass $356,362 $456,275 $551,500 $685,400 $160,000
Charlevoix $356,362 $456,275 $551,500 $685,400 $197,000
Cheboygan $356,362 $456,275 $551,500 $685,400 $151,000
Chippewa $356,362 $456,275 $551,500 $685,400 $79,000
Clare $356,362 $456,275 $551,500 $685,400 $60,000
Clinton $356,362 $456,275 $551,500 $685,400 $172,000
Crawford $356,362 $456,275 $551,500 $685,400 $81,000
Delta $356,362 $456,275 $551,500 $685,400 $89,000
Dickinson $356,362 $456,275 $551,500 $685,400 $85,000
Eaton $356,362 $456,275 $551,500 $685,400 $172,000
Emmet $356,362 $456,275 $551,500 $685,400 $169,000
Genesee $356,362 $456,275 $551,500 $685,400 $134,000
Gladwin $356,362 $456,275 $551,500 $685,400 $90,000
Gogebic $356,362 $456,275 $551,500 $685,400 $85,000
Grand Traverse $356,362 $456,275 $551,500 $685,400 $264,000
Gratiot $356,362 $456,275 $551,500 $685,400 $82,000
Hillsdale $356,362 $456,275 $551,500 $685,400 $115,000
Houghton $356,362 $456,275 $551,500 $685,400 $81,000
Huron $356,362 $456,275 $551,500 $685,400 $95,000
Ingham $356,362 $456,275 $551,500 $685,400 $172,000
Ionia $356,362 $456,275 $551,500 $685,400 $225,000
Iosco $356,362 $456,275 $551,500 $685,400 $80,000
Iron $356,362 $456,275 $551,500 $685,400 $94,000
Isabella $356,362 $456,275 $551,500 $685,400 $122,000
Jackson $356,362 $456,275 $551,500 $685,400 $130,000
Kalamazoo $356,362 $456,275 $551,500 $685,400 $161,000
Kalkaska $356,362 $456,275 $551,500 $685,400 $264,000
Kent $356,362 $456,275 $551,500 $685,400 $225,000
Keweenaw $356,362 $456,275 $551,500 $685,400 $81,000
Lake $356,362 $456,275 $551,500 $685,400 $50,000
Lapeer $356,362 $456,275 $551,500 $685,400 $259,000
Leelanau $356,362 $456,275 $551,500 $685,400 $264,000
Lenawee $356,362 $456,275 $551,500 $685,400 $140,000
Livingston $356,362 $456,275 $551,500 $685,400 $259,000
Luce $356,362 $456,275 $551,500 $685,400 $65,000
Mackinac $356,362 $456,275 $551,500 $685,400 $123,000
Macomb $356,362 $456,275 $551,500 $685,400 $259,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets limits on how expensive a house the FHA will insure in each county in the United States. These limits are set based on the current year’s conforming loan limit — or how large of a mortgage Fannie Mae and Freddie Mac will purchase. In 2021, that conforming limit is $548,250, up roughly $38,000 from 2020’s limit of $510,400.

The FHA “floor” is the largest mortgage the agency will issue in most of the country and is 65% of the conforming loan limit. In 2021, the FHA floor is set at $356,362, an increase of about $24,600 above the 2020 limit of $331,760.

The FHA “ceiling” is a higher limit that only applies to high-cost areas. This is set at 150% of the conforming loan limit, or $822,375 for single-family homes. With a few exceptions, this is generally the largest mortgage amount the agency will insure for a single-family home. In many parts of the country, loan limits fall somewhere between the FHA floor and ceiling.

Outside of the lower 48 states, FHA maximum loan limits are higher because of more expensive construction costs. These include the special exception areas of Alaska, Hawaii, Guam and the U.S. Virgin Islands.

Here are the 2021 standard FHA limits for all property types:

  • One-unit: $356,362
  • Two-unit: $456,275
  • Three-unit: $551,500
  • Four-unit: $685,400

Here are the 2021 standard FHA limits for high-cost areas:

  • One-unit: $822,375
  • Two-unit: $1,053,000
  • Three-unit: $1,272,750
  • Four-unit: $1,581,750

Do you qualify for an FHA loan in Michigan?

FHA loans are a great deal for qualified buyers, thanks to lower down payments and closing costs. Find out if your credit score and income will help you qualify for one of these loans.

 

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