First National Bank Of Michigan Mortgage Rates, Fees & Info

Kalamazoo, MI

LEI: 254900E8AB6YT3KRD187

Tax ID: 20-4318476

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    First National Bank Of Michigan is a smaller bank specializing in Home Purchase and Refi loans. First National Bank Of Michigan has a high proportion of conventional loans. Their top markets by origination volume include: Muskegon, Lansing, Elkhart, Kalamazoo, and Big Rapids among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First National Bank Of Michigan has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    21

    Origination Dollar Volume (All Markets)

    $21,575,000

    Top 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
    MUSKEGON, MI (FHA|USDA|VA) 2 $7,670,000 $3,835,000 $0 0.00%
    Outside of Metro Areas 5 $3,225,000 $645,000 $0 0.00%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 2 $3,170,000 $1,585,000 $0 0.00%
    ELKHART-GOSHEN, IN (FHA|USDA|VA) 1 $2,755,000 $2,755,000 $0 0.00%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 6 $1,970,000 $328,333 $0 0.00%
    Big Rapids, MI (FHA|USDA|VA) 1 $1,085,000 $1,085,000 $0 0.00%
    NILES, MI (FHA|USDA|VA) 1 $1,065,000 $1,065,000 $0 0.00%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $460,000 $230,000 $0 0.00%
    FLINT, MI (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    First National Bank Of Michigan's top markets include Muskegon, Lansing, Elkhart, Kalamazoo, and Big Rapids among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 21 $21,575,000 $1,027,381 $0 0.00%

    For 2023, First National Bank Of Michigan's most frequently originated type of loan was Conventional, with 21 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 10 $12,040,000 $1,204,000 $0 0.00%
    Refi 5 $7,325,000 $1,465,000 $0 0.00%
    Cash Out Refi 4 $1,670,000 $417,500 $0 0.00%
    Other 2 $540,000 $270,000 $0 0.00%

    For 2023, First National Bank Of Michigan's most frequently cited loan purpose was Home Purchase, with 10 originations. The 2nd most popular reason was Refi, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 21 $21,575,000 $1,027,381 $0 0.00%

    For 2023, First National Bank Of Michigan's most frequently cited loan duration was Other, with 21 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 7 $17,205,000 $2,457,857 $0 0.00%
    $200k-400k 6 $1,960,000 $326,667 $0 0.00%
    $100k-200k 4 $650,000 $162,500 $0 0.00%
    $400k-600k 2 $960,000 $480,000 $0 0.00%
    $100,000 or less 1 $85,000 $85,000 $0 0.00%
    $600k-1MM 1 $715,000 $715,000 $0 0.00%

    2023 saw First National Bank Of Michigan place emphasis on $1MM+ loans with 7 originations, totaling $17,205,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 3 $815,000 $271,667 $0 0.00%
    $150k-250k 2 $1,060,000 $530,000 $0 0.00%
    $75k-100k 1 $195,000 $195,000 $0 0.00%

    First National Bank Of Michigan lent most frequently to those with incomes in the $250k+ range, with 3 originations. The second most popular income band? $150k-250k, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 21 $21,575,000 $1,027,381 $0 0.00%

    First National Bank Of Michigan lent most frequently to those with DTI ratios of Exempt%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 14 $19,420,000 $1,387,143 $0 0.00%
    White 6 $2,070,000 $345,000 $0 0.00%
    Not provided 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.83%

    First National Bank Of Michigan has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    90.48%

    First National Bank Of Michigan has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 21 $21,575,000 $1,027,381

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    21 $21,575,000 $1,027,381