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With home values appreciating at a record breaking clip, the maximum conventional loan limit has also increased a substantial amount for 2022.
The Federal House Finance Agency (FHFA) reviews home sales data on an annual basis and adjusts the max conforming loan limit to the rate of appreciation using the FHFA House Price Index (FHFA HPI). In 2021 home values increased the largest amount since the metric was introduced in 2008.
The average rate or appreciation for a residential real estate was an astounding 18.05% across the nation. The FHFA has decided to set the 2022 conventional loan limit at $647,200 for single family homes. This is an increase of $98,950 from $548,250 in 2021.
2022 Conforming Loan Limits by Property Type:
- One-unit property: $647,200
- Two-unit property: $828,700
- Three-unit property: $1,001,650
- Four-unit property: $1,244,850
In order for these areas to be deemed as high cost, 115% of the local median home value must exceed the baseline loan limit for that county. The high cost loan limited in these areas will increase by 150% of the baseline.
This makes the maximum loan limit for these areas $970,800. A map of the U.S. counties and their maximum loan limits using the loan limit map. There are no counties in Michigan that are considered to be a high cost area.
Michigan Loan Limits by County
| County Name | State | One Unit Limit | Two Unit Limit | Three Unit Limit | Four Unit Limit |
| Alcona | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Alger | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Allegan | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Alpena | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Antrim | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Arenac | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Baraga | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Barry | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Bay | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Benzie | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Berrien | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Branch | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Calhoun | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Cass | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Charlevoix | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Cheboygan | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Chippewa | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Clare | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Clinton | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Crawford | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Delta | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Dickinson | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Eaton | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Emmet | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Genesee | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Gladwin | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Gogebic | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Grand Traverse | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Gratiot | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Hillsdale | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Houghton | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Huron | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Ingham | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Ionia | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Iosco | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Iron | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Isabella | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Jackson | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Kalamazoo | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Kalkaska | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Kent | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Keweenaw | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Lake | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Lapeer | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Leelanau | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Lenawee | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Livingston | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Luce | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Mackinac | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Macomb | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Manistee | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Marquette | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Mason | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Mecosta | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Menominee | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Midland | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Missaukee | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Monroe | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Montcalm | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Montmorency | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Muskegon | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Newaygo | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Oakland | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Oceana | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Ogemaw | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Ontonagon | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Osceola | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Oscoda | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Otsego | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Ottawa | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Presque Isle | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Roscommon | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Saginaw | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Saint Clair | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Saint Joseph | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Sanilac | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Schoolcraft | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Shiawassee | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Tuscola | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Van Buren | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Washtenaw | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Wayne | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| Wexford | MI | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
Apply for a Conventional Home Loan
Over 80% of all mortgages are conventional loans. Conventional loans offer some of the lower mortgage rates and payments available for buying a home or refinancing. To apply for a Conventional Home Loan call Riverbank Finance today at 1-800-555-2098.