Rates by loan type
FHA 30-Year mortgage rates in Michigan
FHA loans are Michigan's default path for buyers with thinner credit or smaller savings: 3.5% down with a 580 score, and rates that actually run below conventional.
The catch is mortgage insurance: an upfront 1.75% premium plus annual MIP that, with minimum down payment, lasts the life of the loan. That is why FHA APRs in our table sit far above the note rate — always compare FHA vs. conventional-with-PMI both ways at 620+ scores.
FHA loan limits are set per county. In most of Michigan the single-family limit sits at the national floor; check your county's current limit at HUD before assuming a price cap.
All Michigan rates compared
| Loan type | Rate | APR | Weekly change |
|---|---|---|---|
| 30-Year Fixed | 6.51% | 6.58% | ▴ + 0.06 pts |
| 15-Year Fixed | 5.75% | 5.84% | ▴ + 0.03 pts |
| FHA 30-Year | 6.17% | 6.94% | ▴ + 0.05 pts |
| VA 30-Year | 6.07% | 6.26% | ▴ + 0.05 pts |
| Jumbo 30-Year | 6.65% | 6.70% | ▴ + 0.04 pts |
| 30-Year Refinance | 6.64% | 6.71% | ▴ + 0.06 pts |
Source: Editorial survey of Michigan lenders; national benchmark: Freddie Mac PMMS. Averages for borrowers with 740+ credit and 20% down; your quote will differ.
Frequently asked questions
What is the current fha 30-year rate in Michigan?
As of July 9, 2026, Michigan lenders in our survey average 6.17% (6.94% APR) on the fha 30-year, up 0.05 points from last week.
Why is my quoted rate different from the average?
Averages assume 740+ credit, 20% down, and a single-family primary home. Lower scores, smaller down payments, condos, and cash-out all add pricing adjustments. The average is a benchmark for judging quotes — not a promise.