Home Equity in Michigan: How Much Can You Cash Out? (2026)
With Michigan's median value near $245,000 and a typical $135,000 balance, homeowners can access about $73,250 at 85% combined LTV — through a HELOC, a fixed home equity loan, or a cash-out refinance.
Most Michigan owners who bought years ago hold significant equity. A HELOC or home equity loan lets you borrow against it without touching a low first-mortgage rate.
Accessible equity by Michigan county
| County | Est. Value | Equity at 85% CLTV |
|---|---|---|
| Wayne County | $135,000 | $40,750 |
| Oakland County | $310,000 | $92,500 |
| Macomb County | $275,000 | $82,750 |
| Kent County | $330,000 | $98,500 |
| Genesee County | $165,000 | $49,250 |
| Washtenaw County | $245,000 | $73,250 |
| Ingham County | $245,000 | $73,250 |
| Ottawa County | $245,000 | $73,250 |
| Kalamazoo County | $245,000 | $73,250 |
| Saginaw County | $245,000 | $73,250 |
| Livingston County | $245,000 | $73,250 |
| Muskegon County | $245,000 | $73,250 |
| St. Clair County | $245,000 | $73,250 |
| Jackson County | $245,000 | $73,250 |
| Berrien County | $245,000 | $73,250 |
| Monroe County | $245,000 | $73,250 |
| Calhoun County | $245,000 | $73,250 |
| Allegan County | $245,000 | $73,250 |
| Eaton County | $245,000 | $73,250 |
| Bay County | $245,000 | $73,250 |
| Lapeer County | $245,000 | $73,250 |
| Lenawee County | $245,000 | $73,250 |
| Grand Traverse County | $245,000 | $73,250 |
| Midland County | $245,000 | $73,250 |
| Shiawassee County | $245,000 | $73,250 |
| Clinton County | $245,000 | $73,250 |
| Cass County | $245,000 | $73,250 |
| Isabella County | $245,000 | $73,250 |
| Marquette County | $245,000 | $73,250 |
| Van Buren County | $245,000 | $73,250 |
How to tap equity in Michigan
Start with your numbers: home value minus what you owe, capped at 85% of value. Then pick the tool — a revolving HELOC for flexible access, a fixed home equity loan for a lump sum, or a cash-out refinance if a new first-mortgage rate beats your current one. Compare two or three lenders, since margins and fees vary.
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Frequently Asked Questions
- How much home equity can I tap in Michigan?
- On a $245,000 home with a $135,000 balance, about $73,250 at 85% CLTV. Your exact limit depends on the lender, your credit, and the appraisal.
- Is a HELOC or cash-out better in Michigan?
- If your first mortgage rate is low, a HELOC or home equity loan is usually cheaper because it keeps that rate. A cash-out refinance only wins when today's rate beats your current one.