Chances for fall 2017 transfer?

I am a student at a private LAC in Michigan. I am considering applying to u of m for fall 2017 transfer, if I can get my gpa up to a 3.7 this semester. I am an eagle scout, and honors student, took 4 extra classes at community college over the summer, and am also a phi theta kappa member part time student at community college. I am taking twenty credits this semester and am also auditing and extra course. My current gpa is 3.6. My high school credentials are a 3.5 and 24 ACT, which will probably be my biggest weakness on the application. If I can raise my gpa to a 3.7, should I bother applying? Also, I would be applying to the LAS as a junior psychology major. I appreciate any and all responses.

I like your chances as an in-state transfer.

Don’t let the difference between a 3.6 and 3.7 be what determines whether you apply or not, because it almost certainly won’t be the difference in whether you’re accepted or not.