United Bank Of Michigan Mortgage Rates, Fees & Info
Grand Rapids, MILEI: 2549004W2JKWS6P17T44
Tax ID: 38-1151910
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
United Bank Of Michigan is a smaller bank specializing in Home Purchase loans. United Bank Of Michigan has a high proportion of conventional loans. Their top markets by origination volume include: Grand Rapids, Holland, Muskegon, Traverse City, and Detroit among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)United Bank Of Michigan has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
315Origination Dollar Volume (All Markets)
$81,985,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 157 | $48,525,000 | $309,076 | $0 | 0.00% |
| Holland, MI (FHA|USDA|VA) | 82 | $15,610,000 | $190,366 | $0 | 0.00% |
| Outside of Metro Areas | 45 | $10,405,000 | $231,222 | $0 | 0.00% |
| MUSKEGON, MI (FHA|USDA|VA) | 12 | $2,040,000 | $170,000 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 3 | $1,095,000 | $365,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 4 | $820,000 | $205,000 | $0 | 0.00% |
| MIDLAND, MI (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $0 | 0.00% |
| Big Rapids, MI (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $0 | 0.00% |
| Ludington, MI (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $0 | 0.00% |
| Houghton, MI (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| Mount Pleasant, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Cadillac, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| BAY CITY, MI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against United Bank of Michigan based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 315 | $81,985,000 | $260,270 | $0 | 0.00% |
For 2024, United Bank Of Michigan's most frequently originated type of loan was Conventional, with 315 originations.
Loan Reason
For 2024, United Bank Of Michigan's most frequently cited loan purpose was Home Purchase, with 192 originations. The 2nd most popular reason was Home Improvement, with 34 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 315 | $81,985,000 | $260,270 | $0 | 0.00% |
For 2024, United Bank Of Michigan's most frequently cited loan duration was Other, with 315 originations.
Loan Sizing
2024 saw United Bank Of Michigan place emphasis on $200k-400k loans with 112 originations, totaling $31,320,000 in origination value.
Applicant Income
United Bank Of Michigan lent most frequently to those with incomes in the $50k-75k range, with 67 originations. The second most popular income band? $100k-150k, with 64 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 315 | $81,985,000 | $260,270 | $0 | 0.00% |
United Bank Of Michigan lent most frequently to those with DTI ratios of Exempt%, with 315 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.71%
United Bank Of Michigan has a below average approval rate.
Pick Rate
Approvals leading to origination78.41%
United Bank Of Michigan has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 315 | $81,985,000 | $260,270 |