Conforming Loan Limits for 2024 in Michigan

If you're looking to buy a home in Michigan, it's important to know the Conforming Loan Limits for 2024. MintRates compiled the Conforming Loan Limits data from Federal Housing Finance Agency. These limits set the maximum amount you can borrow from lenders while staying within the guidelines of Fannie Mae and Freddie Mac.

Key points:

Conforming Loan Limits are set annually by the FHFA for all states, including Michigan.
Conforming Loan Limits adjust yearly based on the national housing market.
In Michigan, Conforming Loan Limits vary by county, with higher limits in more expensive areas.
Conforming Loan Limits differ for single-family and multi-unit homes.
Some Michigan counties may qualify for higher limits due to the cost of living.
Loans above Conforming Loan Limits are considered jumbo loans and follow different guidelines.

Summary of Michigan Conforming Loan Limits

In 2024, the Conforming Loan Limits in Michigan are set to guide how much you can borrow based on the type of property and the number of units. Here’s a quick overview of the minimum and maximum loan amounts for each property type set in Michigan for 2024:

One-Unit Limit: $766,550
Two-Unit Limit: $981,500
Three-Unit Limit: $1,186,350
Four-Unit Limit: $1,474,400

Find the 2024 Michigan Conforming Loan Limits by County from the list below to explore detailed loan limits for different unit types.