First National Bank Of Michigan Mortgage Rates, Fees & Info
Kalamazoo, MILEI: 254900E8AB6YT3KRD187
Tax ID: 20-4318476
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
First National Bank Of Michigan is a smaller bank specializing in Home Purchase loans. First National Bank Of Michigan has a high proportion of conventional loans. Their top markets by origination volume include: Kalamazoo, Lansing, Muskegon, Niles, and Traverse City 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.
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Originations
15Origination Dollar Volume (All Markets)
$17,845,000Top 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 |
|---|---|---|---|---|---|
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 3 | $4,855,000 | $1,618,333 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $4,130,000 | $2,065,000 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 3 | $3,115,000 | $1,038,333 | $0 | 0.00% |
| MUSKEGON, MI (FHA|USDA|VA) | 2 | $2,630,000 | $1,315,000 | $0 | 0.00% |
| NILES, MI (FHA|USDA|VA) | 1 | $1,245,000 | $1,245,000 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $1,065,000 | $1,065,000 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| WHEELING, WV-OH (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| Cadillac, MI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 15 | $17,845,000 | $1,189,667 | $0 | 0.00% |
For 2024, First National Bank Of Michigan's most frequently originated type of loan was Conventional, with 15 originations.
Loan Reason
For 2024, First National Bank Of Michigan's most frequently cited loan purpose was Home Purchase, with 9 originations. The 2nd most popular reason was Cash Out Refi, with 4 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 15 | $17,845,000 | $1,189,667 | $0 | 0.00% |
For 2024, First National Bank Of Michigan's most frequently cited loan duration was Other, with 15 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 8 | $14,890,000 | $1,861,250 | $0 | 0.00% |
| $200k-400k | 5 | $1,425,000 | $285,000 | $0 | 0.00% |
| $600k-1MM | 2 | $1,530,000 | $765,000 | $0 | 0.00% |
2024 saw First National Bank Of Michigan place emphasis on $1MM+ loans with 8 originations, totaling $14,890,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 1 | $305,000 | $305,000 | $0 | 0.00% |
| $250k+ | 1 | $1,195,000 | $1,195,000 | $0 | 0.00% |
| $75k-100k | 1 | $325,000 | $325,000 | $0 | 0.00% |
First National Bank Of Michigan lent most frequently to those with incomes in the $150k-250k range, with 1 originations. The second most popular income band? $250k+, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 15 | $17,845,000 | $1,189,667 | $0 | 0.00% |
First National Bank Of Michigan lent most frequently to those with DTI ratios of Exempt%, with 15 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 11 | $15,725,000 | $1,429,545 | $0 | 0.00% |
| White | 4 | $2,120,000 | $530,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 15 | $17,845,000 | $1,189,667 |