Personal Loans in Michigan
Check offers in seconds
Get pre-qualified for loan offers with an easy online form
Won't impact your credit
Checking offers will not impact your credit score
Competitive payment options
Funding up to $100,000 and APRs as low as 4.99%1
Receive funds quickly
Michigan Personal Loans
Are you wondering where to get a personal loan in Michigan? Let us help you. Personal loans in Michigan are offered by several lenders. So, as a consumer you’ll want to shop around to get the best deal. Luckily, we can help simplify the shopping process.
Quick. Simple. Secure.
How To Apply For Personal Loans in Michigan
Fill out easy online form to check for pre-qualified offers with no impact to your credit score
Compare terms and payment options to select offer that’s best for you
Complete application process on your selected lender’s website
After loan approval, your funds should arrive within 1-2 business days2
COMPARE RATES FROM TOP LENDERS
“The process couldn’t have been any easier. I filled out a short form that took me less than 2 minutes and within seconds I got multiple offers from lenders.”
- Mike T. (TN)
“It was important to me that I could review my offers without any impact to my credit score, before deciding on the best loan option.”
- Carol R (FL)
“I like the easy online and 100% paperless experience of Acorn Finance. I received my money two days after completing my application.”
- Bob S (WI)
Are you a contractor?
Generate more revenue with Acorn Finance.
Offer customers the ability to finance their dreams with zero dealer fees.
FREQUENTLY ASKED QUESTIONS
Learn More About Personal Loans in Michigan
Keep reading to learn how to find the best personal loan in Michigan.
Read more - FAQ
Where can I get a loan in Michigan?
Credit union membership is often based on specialized criteria such as your location or industry of employment. Check with your local credit union to see how you can join or consider using an online lender for similar access to fast cash with lenient underwriting criteria. Online banking is rising in popularity and there are many well-trusted lenders who operate entirely in the digital space including big names like SoFi, LightStream, Prosper, and Upgrade. At Acorn Finance you can check personal loan offers from top lenders like these and more.
Can you get a personal loan in Michigan?
What is the minimum loan amount in Michigan?
When it comes to taking out an FHA mortgage, the loan amount must be at least $5,000 in order to obtain financing. On the other hand, loans that are higher than the conforming loan limits are called jumbo loans. Jumbo loan rules vary from state to state as you will see below.
What is a jumbo loan amount in Michigan?
In the state of Michigan, any loan higher than $647,200 is considered a jumbo mortgage. In addition, the FHA loan limit for 1 unit in Michigan is $420,680 across all counties.
What is the maximum interest rate allowed in Michigan?
In the state of Michigan, the legal maximum rate of interest is 5% (or 7% with a written agreement) with the exception of small loans and credit union loans.
Does Michigan offer installment loans?
Michigan residents can access all types of financing from local banks, credit unions, and even online lenders. All of the online lenders covered on our site operate in the state of Michigan.
In addition, payday loans (which are not set up as installment loans) are also legal in the state of Michigan, although they are subject to some restrictions. For example, consumers can only borrow up to $600 at a time from one lender, although they may have loans from 2 lenders.
What Michigan bank is easiest to get a personal loan from?
In addition, credit unions that are favored by Michigan residents include MSU Federal Credit Union, Members First Credit Union, Lake Michigan Credit Union, State Farm Federal Credit Union, and Advia Credit Union. Credit union loans are sometimes easier to qualify for than bank loans due to their local customer service, lenient loan requirements, and flexible underwriting.
All of these financial institutions will have their own unique application qualifications and requirements including minimum credit score and income requirements. The bank that will be the easiest to get a personal loan from is the one that you qualify for. Having a high credit score or using a cosigner who does will also make qualifying for a personal loan much easier.
Comparing different lenders can be tough but getting prequalified can help. Not only will you gain access to a preliminary loan decision in a matter of minutes, but you will get a better idea of the interest rate you can expect to receive and whether or not you meet a particular lender’s requirements. One of the fastest ways to get a personal loan is to use an online lender. At Acorn Finance you can check offers from top national lenders with no impact on your credit score.
Is it a good idea to get a personal loan in Michigan?
Business loans and student loans often come with hefty requirements, tons of paperwork, and a host of other restrictions and less than favorable loan terms. On the other hand, taking out a personal loan can result in up to $100,000 in your bank account in just a few business days with a minimal amount of paperwork required and a lenient underwriting process.
It’s never a good idea to take out any form of financing that you can’t afford to pay for, so be sure to shop around and only apply for a loan if you are absolutely sure you can afford it. By taking the time to compare rates and loan terms as well as get prequalified from a variety of different lenders, you can save yourself thousands of dollars over the lifetime of the loan.
Lastly, keep an eye out for hidden fees including loan origination fees, late payment fees, and early repayment penalties. These fees can make the overall cost of your loan too expensive.
Shopping for the best personal loans in Michigan? Unlock the best offers within minutes today!
ONE HOME, ENDLESS POSSIBILITIES
More home improvement financing options
Your home is a work in progress. Whether you wish to redo, repair or redecorate your home, we can make it all happen with the most effortless financing options.
Trending home improvement projects
Barn Financing Options
Personal loan information
Loans by amount
$1k Personal Loans
$2k Personal Loans
$3k Personal Loans
$4k Personal Loans
$5k Personal Loans
$6k Personal Loans
$8k Personal Loans
$10k Personal Loans
$20k Personal Loans
$25k Personal Loans
$30k Personal Loans
$35k Personal Loans
$40k Personal Loans
$50k Personal Loans
$60k Personal Loans
$75k Personal Loans
$80k Personal Loans
$100k Personal Loans
Learn about personal loans
How To Finance Home Renovations Easily
How To Get a Home Improvement Loan
How Do Home Improvement Loans Work?
How To Finance a Second Home
Contractor Costs To Build a Home
Average Home Improvement Loan Rates
Credit Card Consolidation Loans
Personal Loans for Debt Consolidation
What Are Secured Personal Loans?
Best Financing Options for Home Improvement
$100k Home Improvement Loans
Home Financing Tips for 2021
Personal Loan Refinancing Guide
Secured vs Unsecured Loans
Personal Loan to Pay Off Debt