800-555-2098
2024 Conventional Loan Limits jump as home values have continued to increase throughout 2023. Each year, the FHFA adjusts the conforming loan limits based on its third quarter House Price Index (HPI). This report shows a 5.5% increase in home values.
The 2023 Conventional loan limit is set at $726,200 for single family homes. Using the rate of appreciation, the FHFA has set the 2024 Conventional Loan Limit at $766,550 for single family homes. This is an increase of $40,350 compared to the previous year. In high-cost areas, loans are capped at $1,149,825, up from $1,089,300 last year which is an increase of $60,525.
The Federal Housing Finance Agency (FHFA) has issued the conforming loan limit values that will apply to conventional loans to be acquired by us in 2024. The first mortgage conforming loan limit values are defined in terms of baseline loan limits and high-cost area loan limits. The limits are increasing in 2024.
2024 Conforming Loan Limits by Property Type:
- One-unit property: $766,550
- Two-unit property: $981,500
- Three-unit property: $1,186,350
- Four-unit property: $1,474,400
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 $1,149,825. 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 2024 Conventional Loan Limits by County
| County Name | State | One Unit Limit | Two Unit Limit | Three Unit Limit | Four Unit Limit |
| Alcona | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Alger | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Allegan | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Alpena | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Antrim | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Arenac | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Baraga | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Barry | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Bay | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Benzie | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Berrien | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Branch | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Calhoun | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Cass | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Charlevoix | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Cheboygan | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Chippewa | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Clare | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Clinton | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Crawford | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Delta | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Dickinson | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Eaton | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Emmet | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Genesee | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Gladwin | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Gogebic | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Grand Traverse | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Gratiot | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Hillsdale | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Houghton | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Huron | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Ingham | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Ionia | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Iosco | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Iron | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Isabella | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Jackson | MI | $647,200 | $981,500 | $1,186,350 | $1,474,400 |
| Kalamazoo | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Kalkaska | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Kent | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Keweenaw | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Lake | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Lapeer | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Leelanau | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Lenawee | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Livingston | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Luce | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Mackinac | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Macomb | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Manistee | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Marquette | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Mason | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Mecosta | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Menominee | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Midland | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Missaukee | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Monroe | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Montcalm | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Montmorency | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Muskegon | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Newaygo | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Oakland | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Oceana | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Ogemaw | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Ontonagon | MI | $766,550 | $981,500 | $1,186,350 | $1,244,850 |
| Osceola | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Oscoda | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Otsego | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Ottawa | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Presque Isle | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Roscommon | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Saginaw | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Saint Clair | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Saint Joseph | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Sanilac | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Schoolcraft | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Shiawassee | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Tuscola | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Van Buren | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Washtenaw | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Wayne | MI | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Wexford | MI | $766,550 | $981,500 | $1,001,650 | $1,474,400 |
Apply for a Conventional Home Loan
The majority 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.
Other Resources
- List of 2024 conforming loan limits for all counties and county-equivalent areas in the United States.
- A map showing the 2024 conforming loan limits across the United States.
- Detailed addendum of the methodology used to determine the conforming loan limits.
- List of FAQs that covers broader topics that may be related to CLL values.
- Questions about the 2024 CLL values may be addressed to LoanLimitQuestions@fhfa.gov.
- For more information, visit https://www.fhfa.gov/CLL.