Jumbo loans in Michigan give borrowers an easier way to finance larger or more expensive home purchases.
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JD MORTGAGE® connects you with lenders offering low to no down payment mortgages designed specifically for high-income professionals. We find the lenders that allow jumbo loan balances, relaxed debt-to-income ratios and typically do not require private mortgage insurance (PMI).
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With the longest freshwater coastline in the U.S., Michigan offers a unique blend of vibrant city life and outdoor adventures. From exploring Detroit’s rich cultural history to fishing and hunting near Grand Rapids, the Great Lake State provides diverse experiences for high-income professionals.
Wherever you settle in Michigan, however, home prices are rising, making it challenging to finance a home. According to the Michigan Association of Realtors, the average sales price of a home in Michigan is $253,557. While that figure is well below the jumbo loan limit in Michigan, the state still has plenty of activity in real estate.
For the most recent year, the HDMA data ranks Michigan 16th in the nation in terms of mortgage origination activity, with a total of $6.21 billion in jumbo mortgages initiated. That means you can rest assured that plenty of other Michiganders are financing their homes with these beneficial options.
The jumbo loan limit in Michigan for all counties is $726,200. Any loan that exceeds $726,200 is a jumbo loan in the state of Michigan. Any loan that is less than $726,200 is a conforming loan in the state of Michigan.
Conforming loan limits are set by the Federal Housing Finance Agency (FHFA), the government agency which oversees Fannie Mae and Freddie Mac, the two home mortgage companies that buy most of the home loans made in the U.S. from mortgage lenders and resell them to private investors.
| Michigan County |
Michigan Jumbo loan (1-unit) |
Michigan Conforming loan limit (1-unit) |
Michigan FHA loan limit (1-unit) |
|---|---|---|---|
| Alcona | $726,200+ | $726,200 | $420,680 |
| Alger | $726,200+ | $726,200 | $420,680 |
| Allegan | $726,200+ | $726,200 | $420,680 |
| Alpena | $726,200+ | $726,200 | $420,680 |
| Antrim | $726,200+ | $726,200 | $420,680 |
| Arenac | $726,200+ | $726,200 | $420,680 |
| Baraga | $726,200+ | $726,200 | $420,680 |
| Barry | $726,200+ | $726,200 | $420,680 |
| Bay | $726,200+ | $726,200 | $420,680 |
| Benzie | $726,200+ | $726,200 | $420,680 |
| Berrien | $726,200+ | $726,200 | $420,680 |
| Branch | $726,200+ | $726,200 | $420,680 |
| Calhoun | $726,200+ | $726,200 | $420,680 |
| Cass | $726,200+ | $726,200 | $420,680 |
| Charlevoix | $726,200+ | $726,200 | $420,680 |
| Cheboygan | $726,200+ | $726,200 | $420,680 |
| Chippewa | $726,200+ | $726,200 | $420,680 |
| Clare | $726,200+ | $726,200 | $420,680 |
| Clinton | $726,200+ | $726,200 | $420,680 |
| Crawford | $726,200+ | $726,200 | $420,680 |
| Delta | $726,200+ | $726,200 | $420,680 |
| Dickinson | $726,200+ | $726,200 | $420,680 |
| Eaton | $726,200+ | $726,200 | $420,680 |
| Emmet | $726,200+ | $726,200 | $420,680 |
| Genesee | $726,200+ | $726,200 | $420,680 |
| Gladwin | $726,200+ | $726,200 | $420,680 |
| Gogebic | $726,200+ | $726,200 | $420,680 |
| Grand Traverse | $726,200+ | $726,200 | $420,680 |
| Gratiot | $726,200+ | $726,200 | $420,680 |
| Hillsdale | $726,200+ | $726,200 | $420,680 |
| Houghton | $726,200+ | $726,200 | $420,680 |
| Huron | $726,200+ | $726,200 | $420,680 |
| Ingham | $726,200+ | $726,200 | $420,680 |
| Ionia | $726,200+ | $726,200 | $420,680 |
| Iosco | $726,200+ | $726,200 | $420,680 |
| Iron | $726,200+ | $726,200 | $420,680 |
| Isabella | $726,200+ | $726,200 | $420,680 |
| Jackson | $726,200+ | $726,200 | $420,680 |
| Kalamazoo | $726,200+ | $726,200 | $420,680 |
| Kalkaska | $726,200+ | $726,200 | $420,680 |
| Kent | $726,200+ | $726,200 | $420,680 |
| Keweenaw | $726,200+ | $726,200 | $420,680 |
| Lake | $726,200+ | $726,200 | $420,680 |
| Lapeer | $726,200+ | $726,200 | $420,680 |
| Leelanau | $726,200+ | $726,200 | $420,680 |
| Lenawee | $726,200+ | $726,200 | $420,680 |
| Livingston | $726,200+ | $726,200 | $420,680 |
| Luce | $726,200+ | $726,200 | $420,680 |
| Mackinac | $726,200+ | $726,200 | $420,680 |
| Macomb | $726,200+ | $726,200 | $420,680 |
| Manistee | $726,200+ | $726,200 | $420,680 |
| Marquette | $726,200+ | $726,200 | $420,680 |
| Mason | $726,200+ | $726,200 | $420,680 |
| Mecosta | $726,200+ | $726,200 | $420,680 |
| Menominee | $726,200+ | $726,200 | $420,680 |
| Midland | $726,200+ | $726,200 | $420,680 |
| Missaukee | $726,200+ | $726,200 | $420,680 |
| Monroe | $726,200+ | $726,200 | $420,680 |
| Montcalm | $726,200+ | $726,200 | $420,680 |
| Montmorency | $726,200+ | $726,200 | $420,680 |
| Muskegon | $726,200+ | $726,200 | $420,680 |
| Newaygo | $726,200+ | $726,200 | $420,680 |
| Oakland | $726,200+ | $726,200 | $420,680 |
| Oceana | $726,200+ | $726,200 | $420,680 |
| Ogemaw | $726,200+ | $726,200 | $420,680 |
| Ontonagon | $726,200+ | $726,200 | $420,680 |
| Osceola | $726,200+ | $726,200 | $420,680 |
| Oscoda | $726,200+ | $726,200 | $420,680 |
| Otsego | $726,200+ | $726,200 | $420,680 |
| Ottawa | $726,200+ | $726,200 | $420,680 |
| Presque Isle | $726,200+ | $726,200 | $420,680 |
| Roscommon | $726,200+ | $726,200 | $420,680 |
| Saginaw | $726,200+ | $726,200 | $420,680 |
| St. Clair | $726,200+ | $726,200 | $420,680 |
| St. Joseph | $726,200+ | $726,200 | $420,680 |
| Sanilac | $726,200+ | $726,200 | $420,680 |
| Schoolcraft | $726,200+ | $726,200 | $420,680 |
| Shiawassee | $726,200+ | $726,200 | $420,680 |
| Tuscola | $726,200+ | $726,200 | $420,680 |
| Van Buren | $726,200+ | $726,200 | $420,680 |
| Washtenaw | $726,200+ | $726,200 | $420,680 |
| Wayne | $726,200+ | $726,200 | $420,680 |
| Wexford | $726,200+ | $726,200 | $420,680 |
If you’re in the market for a home in Michigan, consider these jumbo mortgage loans that are available to state residents.
Fifth Third Bank is headquartered in Cincinnati, Ohio and is one of the largest consumer banks in the country. The bank’s unique name came from a 1909 merger between Third National Bank and Fifth National Bank. The bank offers a full suite of financial products, including jumbo mortgages.
We contacted Fifth Third Bank to learn about their jumbo loan mortgage specifically. Here are the important details:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Keybank has over $170 billion in assets and is the 24th largest bank in the United States. They operate throughout 39 states but can originate mortgages in nearly all 50, making them a popular choice among medical doctors throughout the country. One of their key financial products is a jumbo mortgage loan.
We contacted Keybank to learn more about their jumbo loan rates and here are the key terms and highlights:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Huntington Bank is the 26th largest bank in the United States. Operating primarily out of the Midwest, their mortgage group can service a large part of the country. Huntington has a jumbo loan product with competitive rates like no money down financing options.
We contacted a loan officer at Huntington Bank to gather information about their jumbo loan options and here’s what we heard back:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Flagstar Bank has a jumbo product in all 50 states, making it a popular choice among many people looking for higher mortgage amounts. If you’re considering a jumbo mortgage, you’ll want to compare Flagstar’s rates as part of your analysis.
We reached out to a loan officer at Flagstar Bank to get details on their jumbo mortgage. Here are the highlights:
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
So many Michiganians are turning to jumbo loans because of the range of benefits they get with these mortgages. . What are those benefits? They include:
An additional benefit is that you can finance a large home purchase under a single loan with jumbo mortgages. The alternative is to patch together many conventional mortgages, a situation that is burdensome and overly complex for many.
If you are getting excited about the potential of a jumbo loan to purchase your dream home, you may be asking yourself whether or not it’s right for you. A first issue to consider is your current credit score and credit card debt. Because lenders are exposing themselves to greater risk with these large loans, they will expect you to have a higher credit score.
Also consider your overall financial picture. A jumbo loan can cost you more, due to sometimes higher interest rates. If you can afford to pay that extra bit for financing, a jumbo loan could be right for you.
If you want to find the best jumbo loans in other states, click on your state below.
Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.
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