#19
Michigan Reverse Mortgage Market Report
Statewide HECM Portfolio • Regulatory Framework: Standard HUD/FHA
38 Active FHA Lenders
Michigan Executive Market BLUF
Institutional VerifiedAugust 2026 (HUD FHA Single-Family Release)
Michigan originations are centered in Metro Detroit, where mature auto-industry pensions and unencumbered home equity form the basis for equity-monetization planning.
Strategic Key Takeaways
- •Statewide senior home equity: $430.0 Billion.
- •Average Maximum Claim Amount (MCA): $324,000.
- •Annual endorsement momentum: +5.7% YoY.
- •Regulatory category: Standard HUD/FHA.
Total Senior Equity Pool
$430BEquity Pool
2,240,000 seniors age 62+
Total HECM Volume
$0.24B+5.7%
Rank #19 Nationwide
Endorsements YTD
740Annual Pace
Prior Year: 700
Average MCA
$324,000FHA Insured
Median Home: $245,000
Michigan HECM Endorsement History
Annual volume trajectory vs average claim amount
Endorsements
Avg MCA
1,210 loans
2022
740 loans
2024 YTD
Latest Endorsements740
Average Claim (MCA)$324,000
Line of Credit Share88%
Avg Borrower Age74.6 yrs
Top HECM Origination Counties in Michigan
83 Total Counties TrackedMichigan County-Level HECM & Senior Equity Directory (83 Jurisdictions)
Complete county-by-county reverse mortgage endorsements, average Maximum Claim Amounts, and senior housing wealth in Michigan.
| County | FIPS | Endorsements YTD | Avg MCA | Senior Equity | YoY Velocity |
|---|---|---|---|---|---|
| Kent County | 26081 | 313 | $261,576 | $9.1B | +6.5% |
| Genesee County | 26049 | 245 | $171,072 | $4.7B | +6.5% |
| Washtenaw County | 26161 | 183 | $363,204 | $7.4B | +6.5% |
| Oakland County | 26125 | 180 | $327,024 | $27.2B | +6.5% |
| Wayne County | 26163 | 160 | $171,288 | $18.0B | +6.5% |
| Ottawa County | 26139 | 156 | $290,736 | $5.1B | +6.5% |
| Kalamazoo County | 26077 | 136 | $226,476 | $3.4B | +6.5% |
| Ingham County | 26065 | 135 | $187,488 | $2.8B | +6.5% |
| Saginaw County | 26145 | 125 | $141,588 | $2.0B | +6.5% |
| Macomb County | 26099 | 120 | $233,496 | $13.4B | +6.5% |
| Livingston County | 26093 | 119 | $336,744 | $4.5B | +6.5% |
| Berrien County | 26021 | 105 | $209,088 | $2.5B | +6.5% |
| St. Clair County | 26147 | 104 | $213,084 | $2.5B | +6.5% |
| Muskegon County | 26121 | 103 | $175,284 | $2.0B | +6.5% |
| Monroe County | 26115 | 98 | $218,376 | $2.4B | +6.5% |
| Jackson County | 26075 | 98 | $180,036 | $2.0B | +6.5% |
| Calhoun County | 26025 | 80 | $149,796 | $1.4B | +6.5% |
| Bay County | 26017 | 72 | $135,000 | $1.1B | +6.5% |
| Allegan County | 26005 | 70 | $243,000 | $1.9B | +6.5% |
| Eaton County | 26045 | 70 | $210,060 | $1.6B | +6.5% |
| Grand Traverse County | 26055 | 66 | $295,164 | $2.2B | +6.5% |
| Lenawee County | 26091 | 64 | $181,548 | $1.3B | +6.5% |
| Lapeer County | 26087 | 56 | $236,844 | $1.5B | +6.5% |
| Midland County | 26111 | 54 | $185,328 | $1.1B | +6.5% |
| Van Buren County | 26159 | 48 | $185,868 | $1.0B | +6.5% |
| Clinton County | 26037 | 47 | $244,080 | $1.3B | +6.5% |
| Marquette County | 26103 | 43 | $199,044 | $1.0B | +6.5% |
| Shiawassee County | 26155 | 43 | $164,052 | $0.8B | +6.5% |
| Barry County | 26015 | 39 | $241,488 | $1.1B | +6.5% |
| Montcalm County | 26117 | 39 | $167,292 | $0.7B | +6.5% |
| Cass County | 26027 | 37 | $195,588 | $0.8B | +6.5% |
| St. Joseph County | 26149 | 37 | $165,024 | $0.7B | +6.5% |
| Tuscola County | 26157 | 37 | $137,376 | $0.6B | +6.5% |
| Ionia County | 26067 | 34 | $183,168 | $0.7B | +6.5% |
| Newaygo County | 26123 | 33 | $178,200 | $0.7B | +6.5% |
| Hillsdale County | 26059 | 31 | $171,720 | $0.6B | +6.5% |
| Sanilac County | 26151 | 30 | $161,244 | $0.6B | +6.5% |
| Delta County | 26041 | 30 | $150,336 | $0.5B | +6.5% |
| Isabella County | 26073 | 29 | $172,260 | $0.6B | +6.5% |
| Branch County | 26023 | 28 | $151,416 | $0.5B | +6.5% |
| Huron County | 26063 | 27 | $139,860 | $0.4B | +6.5% |
| Emmet County | 26047 | 26 | $266,004 | $0.8B | +6.5% |
| Mecosta County | 26107 | 26 | $165,240 | $0.5B | +6.5% |
| Roscommon County | 26143 | 26 | $144,072 | $0.4B | +6.5% |
| Iosco County | 26069 | 25 | $127,872 | $0.4B | +6.5% |
| Clare County | 26035 | 25 | $121,392 | $0.3B | +6.5% |
| Leelanau County | 26089 | 24 | $400,896 | $1.1B | +6.5% |
| Mason County | 26105 | 24 | $195,696 | $0.5B | +6.5% |
| Cheboygan County | 26031 | 24 | $180,792 | $0.5B | +6.5% |
| Gratiot County | 26057 | 24 | $136,620 | $0.4B | +6.5% |
| Chippewa County | 26033 | 23 | $153,360 | $0.4B | +6.5% |
| Alpena County | 26007 | 23 | $138,240 | $0.4B | +6.5% |
| Charlevoix County | 26029 | 22 | $237,600 | $0.6B | +6.5% |
| Antrim County | 26009 | 22 | $215,784 | $0.5B | +6.5% |
| Manistee County | 26101 | 22 | $170,424 | $0.4B | +6.5% |
| Wexford County | 26165 | 22 | $157,788 | $0.4B | +6.5% |
| Gladwin County | 26051 | 22 | $151,848 | $0.4B | +6.5% |
| Houghton County | 26061 | 21 | $139,536 | $0.3B | +6.5% |
| Menominee County | 26109 | 20 | $142,776 | $0.3B | +6.5% |
| Dickinson County | 26043 | 20 | $132,408 | $0.3B | +6.5% |
| Oceana County | 26127 | 19 | $163,836 | $0.3B | +6.5% |
| Otsego County | 26137 | 18 | $192,672 | $0.4B | +6.5% |
| Ogemaw County | 26129 | 18 | $135,324 | $0.3B | +6.5% |
| Benzie County | 26019 | 16 | $263,088 | $0.5B | +6.5% |
| Osceola County | 26133 | 16 | $138,456 | $0.3B | +6.5% |
| Presque Isle County | 26141 | 14 | $134,784 | $0.2B | +6.5% |
| Gogebic County | 26053 | 13 | $94,824 | $0.1B | +6.5% |
| Kalkaska County | 26079 | 12 | $165,024 | $0.2B | +6.5% |
| Alcona County | 26001 | 12 | $160,056 | $0.2B | +6.5% |
| Arenac County | 26011 | 12 | $127,656 | $0.2B | +6.5% |
| Crawford County | 26039 | 11 | $146,232 | $0.2B | +6.5% |
| Lake County | 26085 | 11 | $126,468 | $0.2B | +6.5% |
| Iron County | 26071 | 11 | $103,464 | $0.1B | +6.5% |
| Mackinac County | 26097 | 10 | $169,560 | $0.2B | +6.5% |
| Missaukee County | 26113 | 10 | $165,564 | $0.2B | +6.5% |
| Montmorency County | 26119 | 9 | $135,648 | $0.1B | +6.5% |
| Alger County | 26003 | 7 | $169,020 | $0.1B | +6.5% |
| Schoolcraft County | 26153 | 7 | $139,428 | $0.1B | +6.5% |
| Oscoda County | 26135 | 7 | $132,300 | $0.1B | +6.5% |
| Ontonagon County | 26131 | 7 | $96,876 | $0.1B | +6.5% |
| Baraga County | 26013 | 6 | $131,436 | $0.1B | +6.5% |
| Keweenaw County | 26083 | 4 | $168,372 | $0.1B | +6.5% |
| Luce County | 26095 | 4 | $112,968 | $0.1B | +6.5% |
Calculate Borrowing Power in Michigan
Institutional FHA HECM Principal Limit Calculator
HUD Mortgagee Letter 2017-17 Actuarial Matrix • Active FHA MCA Cap: $1,149,825
Non-Recourse Insured
Quick Scenarios:
$650,000
$150KFHA Cap: $1.15M$2.5M+ (Jumbo)
72 Years Old
Age 62 (Min)Age 75Age 95
$120,000
$0 (Free & Clear)$400K$800K
6.25%
4.00%6.25%8.50%
Eligible Non-Borrowing Spouse (NBS) Protection
Under HUD ML 2014-07, spouses of any age can be named as an Eligible Non-Borrowing Spouse, securing statutory rights to remain in the home indefinitely after the borrowing spouse passes away.
Net Available Principal Limit (LOC / Cash Payout)
$149,600PLF: 44.4%
Available immediately as an unused, guaranteed growing Line of Credit, or distributed as monthly tenure payments for life.
Gross Principal Limit$288,600
Tenure Monthly Payout$992/mo
Mandatory Debt Payoff$120,000
Max Claim Limit (Cap)$650,000
FHA Upfront MIP (2%)$13,000
Est. Total Closing Costs$19,000
10-Year Line of Credit Compounding Trajectory
| Year | Available Line | Loan Balance | Est. Retained Equity |
|---|---|---|---|
| Year 0 | $149,600 | $139,000 | $511,000 |
| Year 2 | $170,478 | $158,398 | $537,898 |
| Year 4 | $194,269 | $180,504 | $565,386 |
| Year 6 | $221,380 | $205,694 | $593,322 |
| Year 8 | $252,275 | $234,400 | $621,526 |
| Year 10 | $287,482 | $267,112 | $649,777 |
Plain-English Borrower Safeguards:
Zero Monthly Mortgage Bills
You Retain 100% Home Title
Tax-Free Loan Proceeds
Non-Recourse Protection for Heirs
Machine & Academic Citation Index
ReversePulse Research Board. (August 2026). "Michigan Reverse Mortgage (HECM) Market Intelligence Report." Systemores Institutional Reverse Mortgage Intelligence. Retrieved from https://reverse.systemores.com/trends/michigan
Provenance: HUD FHA Single-Family Datasets & Michigan Housing Division