Posted on September 23, 2024 by - Local Michigan

2025 Conventional Loan Limits

2025 Conventional Loan Limits in Michigan have been put into action, jumping up yet again as home values have continued to increase throughout 2024. While the FHFA has not officially announced the 2025 Conventional Loan Limits, many lenders have announced that they have begun accepting loans up to $806,500. Each year, the FHFA adjusts the conforming loan limits based on its third quarter House Price Index (HPI). This report shows a 4.8% increase in home values.

The History of Conventional Loan Limits

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.

For 2024 Conventional loan limits were set at $766,550 for single family homes. Using the rate of appreciation of 4.82% from the Fannie Mae Home Price Index, the new 2025 Conventional Loan Limits in Michigan are now $806,500.

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 2025. 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 2025.

2025 Conventional Loan Limits in Michigan by Property Type:

  • One-unit property: $806,500
  • Two-unit property: $1,032,650
  • Three-unit property: $1,248,150
  • Four-unit property: $1,551,250

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 $1,209,750. 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 2025 Conventional Loan Limits by County

County NameStateOne Unit LimitTwo Unit LimitThree Unit Limit Four Unit Limit
AlconaMI$806,500$1,032,650$1,248,150$1,551,250
AlgerMI$806,500$1,032,650$1,248,150$1,551,250
AlleganMI$806,500$1,032,650$1,248,150$1,551,250
AlpenaMI$806,500$1,032,650$1,248,150$1,551,250
AntrimMI$806,500$1,032,650$1,248,150$1,551,250
ArenacMI$806,500$1,032,650$1,248,150$1,551,250
BaragaMI$806,500$1,032,650$1,248,150$1,551,250
BarryMI$806,500$1,032,650$1,248,150$1,551,250
BayMI$806,500$1,032,650$1,248,150$1,551,250
BenzieMI$806,500$1,032,650$1,248,150$1,551,250
BerrienMI$806,500$1,032,650$1,248,150$1,551,250
BranchMI$806,500$1,032,650$1,248,150$1,551,250
CalhounMI$806,500$1,032,650$1,248,150$1,551,250
CassMI$806,500$1,032,650$1,248,150$1,551,250
CharlevoixMI$806,500$1,032,650$1,248,150$1,551,250
CheboyganMI$806,500$1,032,650$1,248,150$1,551,250
ChippewaMI$806,500$1,032,650$1,248,150$1,551,250
ClareMI$806,500$1,032,650$1,248,150$1,551,250
ClintonMI$806,500$1,032,650$1,248,150$1,551,250
CrawfordMI$806,500$1,032,650$1,248,150$1,551,250
DeltaMI$806,500$1,032,650$1,248,150$1,551,250
DickinsonMI$806,500$1,032,650$1,248,150$1,551,250
EatonMI$806,500$1,032,650$1,248,150$1,551,250
EmmetMI$806,500$1,032,650$1,248,150$1,551,250
GeneseeMI$806,500$1,032,650$1,248,150$1,551,250
GladwinMI$806,500$1,032,650$1,248,150$1,551,250
GogebicMI$806,500$1,032,650$1,248,150$1,551,250
Grand TraverseMI$806,500$1,032,650$1,248,150$1,551,250
GratiotMI$806,500$1,032,650$1,248,150$1,551,250
HillsdaleMI$806,500$1,032,650$1,248,150$1,551,250
HoughtonMI$806,500$1,032,650$1,248,150$1,551,250
HuronMI$806,500$1,032,650$1,248,150$1,551,250
InghamMI$806,500$1,032,650$1,248,150$1,551,250
IoniaMI$806,500$1,032,650$1,248,150$1,551,250
IoscoMI$806,500$1,032,650$1,248,150$1,551,250
IronMI$806,500$1,032,650$1,248,150$1,551,250
IsabellaMI$806,500$1,032,650$1,248,150$1,551,250
JacksonMI$647,200$1,032,650$1,248,150$1,551,250
KalamazooMI$806,500$1,032,650$1,248,150$1,551,250
KalkaskaMI$806,500$1,032,650$1,248,150$1,551,250
KentMI$806,500$1,032,650$1,248,150$1,551,250
KeweenawMI$806,500$1,032,650$1,248,150$1,551,250
LakeMI$806,500$1,032,650$1,248,150$1,551,250
LapeerMI$806,500$1,032,650$1,248,150$1,551,250
LeelanauMI$806,500$1,032,650$1,248,150$1,551,250
LenaweeMI$806,500$1,032,650$1,248,150$1,551,250
LivingstonMI$806,500$1,032,650$1,248,150$1,551,250
LuceMI$806,500$1,032,650$1,248,150$1,551,250
MackinacMI$806,500$1,032,650$1,248,150$1,551,250
MacombMI$806,500$1,032,650$1,248,150$1,551,250
ManisteeMI$806,500$1,032,650$1,248,150$1,551,250
MarquetteMI$806,500$1,032,650$1,248,150$1,551,250
MasonMI$806,500$1,032,650$1,248,150$1,551,250
MecostaMI$806,500$1,032,650$1,248,150$1,551,250
MenomineeMI$806,500$1,032,650$1,248,150$1,551,250
MidlandMI$806,500$1,032,650$1,248,150$1,551,250
MissaukeeMI$806,500$1,032,650$1,248,150$1,551,250
MonroeMI$806,500$1,032,650$1,248,150$1,551,250
MontcalmMI$806,500$1,032,650$1,248,150$1,551,250
MontmorencyMI$806,500$1,032,650$1,248,150$1,551,250
MuskegonMI$806,500$1,032,650$1,248,150$1,551,250
NewaygoMI$806,500$1,032,650$1,248,150$1,551,250
OaklandMI$806,500$1,032,650$1,248,150$1,551,250
OceanaMI$806,500$1,032,650$1,248,150$1,551,250
OgemawMI$806,500$1,032,650$1,248,150$1,551,250
OntonagonMI$806,500$1,032,650$1,248,150$1,244,850
OsceolaMI$806,500$1,032,650$1,248,150$1,551,250
OscodaMI$806,500$1,032,650$1,248,150$1,551,250
OtsegoMI$806,500$1,032,650$1,248,150$1,551,250
OttawaMI$806,500$1,032,650$1,248,150$1,551,250
Presque IsleMI$806,500$1,032,650$1,248,150$1,551,250
RoscommonMI$806,500$1,032,650$1,248,150$1,551,250
SaginawMI$806,500$1,032,650$1,248,150$1,551,250
Saint ClairMI$806,500$1,032,650$1,248,150$1,551,250
Saint JosephMI$806,500$1,032,650$1,248,150$1,551,250
SanilacMI$806,500$1,032,650$1,248,150$1,551,250
SchoolcraftMI$806,500$1,032,650$1,248,150$1,551,250
ShiawasseeMI$806,500$1,032,650$1,248,150$1,551,250
TuscolaMI$806,500$1,032,650$1,248,150$1,551,250
Van BurenMI$806,500$1,032,650$1,248,150$1,551,250
WashtenawMI$806,500$1,032,650$1,248,150$1,551,250
WayneMI$806,500$1,032,650$1,248,150$1,551,250
WexfordMI$806,500$1,032,650$1,001,650$1,551,250

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.

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