Michigan has a steady 65-and-older population concentrated in metro Detroit, Grand Rapids, the West Michigan lakeshore, and the year-round residential pockets of Traverse City and the Upper Peninsula. The federal HECM program governs reverse mortgages in Michigan; for readers new to the product, how reverse mortgages work covers the structural basics. Michigan does not overlay a dedicated reverse-mortgage statute on top of HUD's rules. State-level variation is mostly licensing oversight and county recording fees.
What reverse mortgage rules are specific to Michigan?
Michigan does not impose a counseling requirement beyond the federal one. Every HECM borrower must complete an independent counseling session with a HUD-approved agency before the lender pulls credit or orders an appraisal (HUD Handbook 4000.1, Section II.B).
Mortgage loan originators and lenders operating in Michigan are licensed and supervised by the Michigan Department of Insurance and Financial Services (DIFS) under the Mortgage Brokers, Lenders, and Servicers Licensing Act, MCL 445.1651 et seq., and (for first-mortgage lenders that fall under it) the Secondary Mortgage Loan Act. Originator records are verifiable through NMLS Consumer Access.
Recording fees are charged by the county Register of Deeds where the property sits. Michigan moved to a flat-per-document fee in 2016: most counties charge $30 for the first page plus $3 per additional page on a recorded mortgage instrument under MCL 600.2567. Michigan also imposes a state real estate transfer tax on conveyances ($3.75 per $500 of value, MCL 207.526), but that tax applies to transfers of title, not to the recording of a reverse mortgage.
How much can you borrow with a reverse mortgage in Michigan?
The 2026 FHA HECM lending limit is $1,249,125 (HUD Mortgagee Letter 2025-22, effective January 1, 2026), applying in every Michigan county. For a 70-year-old borrower at the current HECM rate range, an illustrative $475,000 home in Ann Arbor, Grosse Pointe, or East Grand Rapids produces a principal limit of about $166,000–$197,000 before closing costs (HUD PLF table across a 6.0–7.5% expected-rate planning range; an estimate, not a quote). Run the figures in the calculator.
Estimatehow this number is calculatedMichigan's modest home values and senior population feed into its state suitability score, a comparison against all 50 states and DC.
Do you need counseling for a reverse mortgage in Michigan?
Every Michigan HECM borrower completes a session with a counselor on HUD's HECM Roster before the lender may process the application (HUD Handbook 4000.1), and FHA's list of HECM counseling agencies shows four based in Michigan as of October 7, 2026. Two are in Farmington Hills and two in Pontiac; each sets its own fee, and the HUD HECM Counselor Roster or 1-800-569-4287 also finds agencies that counsel by phone. The counseling certificate is valid for 180 days (HUD Handbook 4000.1). How to find and prepare for a counselor →
FAQ
Does Michigan require its own reverse-mortgage counseling on top of the federal HUD requirement?
No. The federal HUD-approved counseling session (HUD Handbook 4000.1, Section II.B) is the only counseling requirement that applies in Michigan. The certificate is valid for 180 days.
Who regulates reverse-mortgage lenders in Michigan?
The Michigan Department of Insurance and Financial Services (DIFS) licenses and supervises mortgage loan originators and lenders under the Mortgage Brokers, Lenders, and Servicers Licensing Act (MCL 445.1651 et seq.). Licenses are verifiable through NMLS Consumer Access.
What does it cost to record a reverse mortgage in a Michigan county?
Most Michigan counties charge a flat $30 for the first page plus $3 per additional page on a recorded mortgage instrument under MCL 600.2567. The state real estate transfer tax does not apply to the recording of a mortgage; it applies to transfers of title.
What is the maximum HECM payout for a Michigan home in 2026?
The federal HECM limit is $1,249,125 in 2026 (HUD Mortgagee Letter 2025-22). The actual principal-limit payout is a fraction of the home value or that limit, whichever is lower, set by the borrower's age and the expected interest rate at closing. Run an estimate in this site's calculator.
Sources
- HUD Mortgagee Letter 2025-22: 2026 FHA HECM lending limit ($1,249,125), effective January 1, 2026
- HUD Handbook 4000.1, FHA Single Family Housing Policy Handbook, Section II.B: HECM program requirements and counseling
- HUD HECM Counselor Roster (national, including Michigan-authorized agencies)
- Michigan Mortgage Brokers, Lenders, and Servicers Licensing Act, MCL 445.1651 et seq.: licensing by the Michigan Department of Insurance and Financial Services (DIFS)
- MCL 600.2567 (county recording fees, flat-per-document) and MCL 207.526 (state real estate transfer tax — applies to title transfers, not mortgage instruments)
- NMLS Consumer Access: originator and company license search
- HUD Mortgagee Letter 2011-09: HECM counseling fees (agencies set a reasonable fee; no fee is collected at the session from a client below 200% of the federal poverty level)
- Finance of America: HomeSafe program page (loans up to $4 million for certain products; minimum age 55, or 60 in MA, NY and WA and 62 in NC and TX)
- Longbridge Financial: Longbridge Platinum product page (loan amounts up to $4 million; $2 million cap in Massachusetts; age 55 in select states; not FHA-insured)
- Mutual of Omaha Mortgage: jumbo reverse mortgage calculator page (SecureEquity borrows up to $4 million; not insured by the FHA; no mortgage insurance premium; as young as 55 in some cases)
- FHA Counseling Agencies search (Counseling Type: HECM), Michigan: list as of 10/07/2026 shows 4 agencies and their cities