FHA Loan Michigan | Extreme Loans

Q: What is the minimum credit score for an FHA loan in Michigan?

The minimum is 500. To get the 3.5% down payment, you need 580+.

Q: How much down payment do I need for an FHA loan in Michigan?

3.5% with a 580+ credit score. On a $200,000 home that is $7,000 down.

Q: Does Extreme Loans offer FHA loans in all Michigan counties?

Yes. We are licensed in Michigan and can originate FHA loans in all counties.

Looking for an FHA loan in Michigan? Extreme Loans is a licensed Michigan mortgage lender helping homebuyers and homeowners secure FHA financing — fast, honest, and without the runaround. Whether you are buying your first home in Detroit, refinancing in Grand Rapids, or purchasing in Ann Arbor, our Extreme Mortgage Bankers are ready to guide you through every step.

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What Is an FHA Loan?

An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. It is one of the most popular loan programs in Michigan because it offers:

Low down payment: As little as 3.5% down with a 580+ credit score
Flexible credit requirements: Borrowers with credit scores as low as 500 may qualify
Competitive interest rates: Government backing reduces lender risk, which can mean better rates
Higher debt-to-income flexibility: FHA allows DTI ratios up to 57% in some cases

Who Qualifies for an FHA Loan in Michigan?

FHA loans are available to a wide range of Michigan borrowers. You may be a good candidate if you:

Have a credit score of 500 or higher
Are a first-time homebuyer or repeat buyer
Have limited savings for a large down payment
Want to refinance an existing mortgage with an FHA Streamline

Extreme Loans has helped Michigan borrowers close FHA loans with credit scores from 550 to 820. If you are not sure whether you qualify, call us — we will give you a straight answer.

FHA Loan Requirements in Michigan

Minimum credit score: 500 (3.5% down requires 580+)
Down payment: 3.5% with 580+ credit; 10% with 500–579 credit
Mortgage insurance: FHA requires upfront MIP and annual MIP premiums
Primary residence: The home must be your primary residence
Steady income: Two years of employment history preferred

Michigan FHA Loan Limits

FHA loan limits vary by county in Michigan. Most Michigan counties follow the standard FHA conforming limit, while high-cost areas may have higher limits. Contact Extreme Loans to confirm current limits for your specific county — limits are updated annually by HUD.

Why Michigan Homebuyers Choose Extreme Loans

Licensed in Michigan: We are a Michigan-based mortgage lender (NMLS #2025962) with deep roots in the state
14-day average close: We close faster than most lenders — average 14 days from application to closing
Honest guidance: No surprises at the closing table. We walk you through every number upfront
In-house underwriting: Faster decisions, fewer delays
Dedicated mortgage banker: One point of contact who knows your file from day one

We serve homebuyers and homeowners across Michigan — including Detroit, Grand Rapids, Ann Arbor, Lansing, Flint, Dearborn, Kalamazoo, Traverse City, and beyond.

FHA Streamline Refinance in Michigan

Already have an FHA loan? You may qualify for an FHA Streamline Refinance — one of the simplest ways to lower your monthly payment. Streamline refinances require minimal documentation, no new appraisal in most cases, and can close faster than a traditional refinance. Ask your Extreme Mortgage Banker if you qualify.

Frequently Asked Questions: FHA Loans in Michigan

What is the minimum credit score for an FHA loan in Michigan?

The minimum credit score for an FHA loan is 500. To qualify for the 3.5% minimum down payment, you need a 580 or higher. With a score between 500–579, a 10% down payment is required. Extreme Loans works with credit scores starting at 550.

How much down payment do I need for an FHA loan in Michigan?

With a 580+ credit score, the minimum down payment is 3.5% of the purchase price. For example, on a $200,000 home, that is $7,000 down. Down payment funds can come from savings, gifts, or certain assistance programs.

Can I use an FHA loan to buy a multi-unit property in Michigan?

Yes. FHA loans can be used to purchase 1–4 unit properties as long as you live in one of the units as your primary residence.

How long does it take to close an FHA loan with Extreme Loans?

Our average close time is 14 days from application to closing. FHA loans may take slightly longer depending on appraisal scheduling, but we work to keep things moving quickly.

What is mortgage insurance on an FHA loan?

FHA loans require two types of mortgage insurance: an upfront MIP (typically 1.75% of the loan amount, usually rolled into the loan) and an annual MIP paid monthly. The annual rate depends on your loan term, loan amount, and down payment.

Does Extreme Loans offer FHA loans in all Michigan counties?

Yes. We are licensed to lend in Michigan and can originate FHA loans in all Michigan counties, from Wayne County to the Upper Peninsula.

Start Your Michigan FHA Loan Today

Ready to get started? Apply online in minutes or call us at 844-CLOSE-FAST. An Extreme Mortgage Banker will review your situation and walk you through your options — no pressure, no obligation.

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Extreme Loans | NMLS #2025962 | 29444 Northwestern Hwy. Ste. 100, Southfield, MI 48034 | Equal Housing Lender