Not affiliated or endorsed by the Dept. of HUD or any govt. agency. ICB Solutions, a division of Neighbors Bank: NMLS #491986. Not available in NY. Legal
FHALoans.com is a ICB Solutions Network Website
FHALoans.com is a product of ICB Solutions, a division of Neighbors Bank. ICB Solutions partners with a private company, Mortgage Research Center, LLC (NMLS #1907), that provides mortgage information and connects homebuyers with lenders. Neither FHALoans.com, Mortgage Research Center nor ICB Solutions are endorsed by, sponsored by or affiliated with the Dept. of Housing and Urban Development or any other government agency. ICB Solutions and Mortgage Research Center receive compensation for providing marketing services to a select group of companies involved in helping consumers find, buy or refinance homes. If you submit your information on this site, one or more of these companies will contact you with additional information regarding your request. For a full list of these companies click here. By submitting your information you agree Mortgage Research Center can provide your information to one of these companies, who will then contact you. Neither Mortgage Research Center nor ICB Solutions guarantees that you will be eligible for a loan through the FHA loan program. FHALoans.com will not charge, seek or accept fees of any kind from you. Mortgage products are not offered directly on the FHALoans.com website and if you are connected to a lender through FHALoans.com, specific terms and conditions from that lender will apply.
Picking the perfect home in the “Great Lake State” should be smooth sailing, but often leaves home buyers drowning in home financing options.
That’s why many first-time homebuyers are turning to Michigan FHA loans for low down payment opportunities and generally lower credit score requirements when compared to conventional loans. Continue reading to learn more about why and FHA loan in Michigan could be right for you.
Why Use an FHA Loan in Michigan
As of April 2019, the total value of FHA loans in Michigan was a little more than $225 million! So whether you are looking to be near the great lakes, or closer inland, an FHA home loan may be the best option for you.
Benefits of choosing an FHA Loan
FHA loans are great for first-time homebuyers, especially those who can’t or don’t want to put down a large down payment.
FHA mortgage rates are typically lower than conventional mortgage rates.
FHA down payment and credit score requirements are typically lower than conventional loans
Sellers can contribute up to 6% of the purchase price or appraised value (whichever is less) towards the buyers’ closing costs.
While there is a maximum loan limit on Michigan FHA loans, the goal of the program is to ensure that most people can qualify for the loan and purchase a house, regardless of where they choose to live. In most of Michigan, the baseline limit of $541,287 applies, but the maximum loan limit may vary from location to location. Check the table below to see the full list of Michigan FHA loan limits for 2026.
Buyers must be able to provide the following information and documents as requested by lenders:
The addresses of all your residences over the past two years.
The names of your employers over the past two years.
W2's for the past two years and current paycheck stubs.
Your current gross monthly salary.
Your Social Security Number.
Names, addresses, and account numbers with balances on all checking and savings accounts.
Addresses and loan information of any other real estate you owned.
Self-employed individuals will need to provide personal tax returns for the past two years and a current income statement and balance sheet for the business.
Students will need to provide evidence of enrollment. If you have student loans, you need to provide verification information.
Note: Facts and figures sourced from the latest statistics available at the time of this writing including data from the United States Department of Labor, United States Census Bureau and the United States Department of Housing and Urban Development.
WHY ONLY ONE LENDER? We try to present multiple lender options, but there may be limited lenders available due to time of day or in certain geographic areas or for certain consumers.
If presented with only one lender, you are not required to use that lender and MRC does not endorse any particular lender even if they appear by themselves. Feel free to check back at a different time to see if more lender options are available.
WHO IS DISPLAYED? The MRC network lenders (all of whom could be seen here) who appear are displayed based on information you provided, availability of our network lenders, and their geographic proximity to you. In some instances, you may see only a single lender displayed, and while our goal is to display multiple lenders as often as possible, a single lender may sometimes appear based on lender availability, which can vary based on multiple factors including time of day, day of the week, and a lender’s capacity for new customers. When more than one lender is available, they are presented in a carousel that allows you to scroll through the available lenders and return to the beginning after viewing all options. Lenders are generally displayed in the following order:
Local Lenders - lenders that primarily serve one or two states, including the state you selected.
Regional Lenders - lenders that serve the state you selected and may operate across multiple additional states.
Depending on availability, the lenders shown may include only Local Lenders, only Regional Lenders, or a combination of both. If a Local Lender is available they will have priority to be displayed over Regional Lenders. If you’d like to see different lender options, you may return to our form and submit your information again at another time.
HOW IS MRC PAID? The lender or lenders displayed have paid MRC to participate in our network. The Local and Regional Sorting method determines how lenders are displayed. Payment does not affect how prominently or how often a lender is displayed. MRC’s network does not include all lenders or loan products available in the marketplace. MRC does not endorse any lender. Choosing a lender is an important decision and should not be based on advertising alone.
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