Level One Bank Mortgage Rates, Fees & Info
Farmington Hills, MILEI: 549300B3O78O3WRVJJ49
Tax ID: 32-0256611
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Bank Data
Review & Overview
Level One Bank is a smaller bank specializing in Home Purchase and Refi loans. Level One Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Detroit, Ann Arbor, Grand Rapids, Jackson, and Florence among others. We have data for 64 markets. (Some data included below & more in-depth data is available with an active subscription.)Level One Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Level One Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
1,306Origination Dollar Volume (All Markets)
$326,920,000Employee count
251Awards
Level One Bank - 2019
Level One Bank is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
Work for Level One Bank?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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 |
|---|---|---|---|---|---|
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 787 | $189,675,000 | $241,010 | $3,007 | 4.25% |
| ANN ARBOR, MI (FHA|USDA|VA) | 283 | $73,015,000 | $258,004 | $3,115 | 4.18% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 52 | $16,780,000 | $322,692 | $3,587 | 4.22% |
| Outside of Metro Areas | 26 | $5,500,000 | $211,538 | $2,934 | 4.00% |
| JACKSON, MI (FHA|USDA|VA) | 23 | $4,605,000 | $200,217 | $3,076 | 4.35% |
| FLORENCE, SC (FHA|USDA|VA) | 3 | $3,795,000 | $1,265,000 | $0 | 4.77% |
| MIDLAND, MI (FHA|USDA|VA) | 1 | $3,205,000 | $3,205,000 | $0 | 5.00% |
| MONROE, MI (FHA|USDA|VA) | 18 | $3,190,000 | $177,222 | $3,372 | 4.45% |
| FLINT, MI (FHA|USDA|VA) | 15 | $2,385,000 | $159,000 | $2,956 | 4.35% |
| Adrian, MI (FHA|USDA|VA) | 9 | $1,495,000 | $166,111 | $2,719 | 4.36% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $1,225,000 | $408,333 | $2,813 | 4.31% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $1,115,000 | $371,667 | $5,027 | 4.37% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 4 | $1,100,000 | $275,000 | $3,159 | 4.40% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 7 | $945,000 | $135,000 | $2,718 | 4.20% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $5,384 | 4.29% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 4 | $720,000 | $180,000 | $3,932 | 4.30% |
| Cadillac, MI (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 6.00% |
| MUSKEGON, MI (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $4,616 | 3.75% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $2,801 | 4.18% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $8,183 | 3.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $3,906 | 4.66% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $2,135 | 4.06% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $3,910 | 3.99% |
| Hillsdale, MI (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $3,000 | 4.31% |
| LOUISVILLE, KY (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $4,801 | 3.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $4,615 | 4.59% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $3,459 | 4.16% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 5.50% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $3,745 | 3.81% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $5,406 | 4.13% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $3,124 | 4.50% |
| Key West, FL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $5,401 | 3.99% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $3,302 | 3.63% |
| Holland, MI (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,055 | 4.63% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $6,955 | 4.50% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $3,491 | 3.85% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $2,655 | 3.88% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,116 | 4.43% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,853 | 4.50% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $4,602 | 4.75% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,962 | 3.99% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,939 | 4.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,590 | 3.63% |
| Mount Pleasant, MI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,984 | 4.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,846 | 4.25% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,260 | 5.00% |
| Sandusky, OH (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,837 | 3.99% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,505 | 4.25% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,180 | 4.88% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,463 | 3.88% |
| Kendallville, IN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,215 | 4.13% |
| Big Rapids, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,696 | 4.45% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,530 | 4.13% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,898 | 4.13% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,778 | 4.50% |
| TOLEDO, OH (FHA|USDA|VA) | 3 | $115,000 | $38,333 | $2,953 | 5.02% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,426 | 4.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,164 | 3.38% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,333 | 5.99% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,197 | 3.99% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,376 | 3.75% |
| SAGINAW, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,112 | 4.95% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,221 | 4.63% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $3,102 | 4.80% |
Similar Lenders
We use machine learning to identify the top lenders compared against Level One Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 159
Similarity Rank: 238
Similarity Rank: 289
Similarity Rank: 297
Similarity Rank: 297
Similarity Rank: 320
Similarity Rank: 344
Similarity Rank: 364
Similarity Rank: 378
Similarity Rank: 402
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,269 | $320,325,000 | $252,423 | $3,011 | 4.25% |
| FHA | 37 | $6,595,000 | $178,243 | $6,067 | 3.99% |
For 2019, Level One Bank's most frequently originated type of loan was Conventional, with 1,269 originations. Their 2nd most popular type was FHA, with 37 originations.
Loan Reason
For 2019, Level One Bank's most frequently cited loan purpose was Home Purchase, with 707 originations. The 2nd most popular reason was Refi, with 328 originations.
Loan Duration/Length
For 2019, Level One Bank's most frequently cited loan duration was 30 Year, with 1,082 originations. The 2nd most popular length was 15 Year, with 108 originations.
Origination Fees/Closing Costs
Level One Bank's average total fees were $3,112, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 915 originations.
Interest Rates
During 2019, Level One Bank's average interest rate for loans was 4.30%, while their most frequently originated rate bucket for loans was 3-4%, with 612 originations.
Loan Sizing
2019 saw Level One Bank place emphasis on $200k-400k loans with 542 originations, totaling $149,940,000 in origination value.
Applicant Income
Level One Bank lent most frequently to those with incomes in the $100k-150k range, with 309 originations. The second most popular income band? $50k-75k, with 255 originations.
Applicant Debt to Income Ratio
Level One Bank lent most frequently to those with DTI ratios of 20-30%, with 319 originations. The next most common DTI ratio? 30-36%, with 240 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.65%
Level One Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination79.10%
Level One Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,306 | $326,920,000 | $250,322 |
Occupancy Type Mix
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Level One Bank | 1420 Washington Blvd Detroit, MI 48226 | Full Service B&M | $27,718 |
| Level One Bank | 1712 West Maple Road Birmingham, MI 48009 | Full Service B&M | $40,280 |
| Level One Bank | 20550 Haggerty Road Northville, MI 48167 | Full Service B&M | $44,517 |
| Level One Bank | 22635 Woodward Ave. Ferndale, MI 48220 | Full Service B&M | $20,202 |
| Level One Bank | 2355 Burton Street Se Grand Rapids, MI 49506 | Full Service B&M | $15,824 |
| Level One Bank | 30095 Northwestern Highway Farmington Hills, MI 48334 | Full Service B&M | $54,663 |
| Level One Bank | 30201 Orchard Lake Road Farmington Hills, MI 48334 | Full Service B&M | $58,240 |
| Level One Bank | 32991 Hamilton Court Farmington Hills, MI 48334 | Full Service B&M | $789,857 |
| Level One Bank | 37100 Woodward Avenue Bloomfield Township, MI 48304 | Full Service B&M | $81,845 |
| Level One Bank | 43683 Schoenherr Road Sterling Heights, MI 48313 | Full Service B&M | $41,212 |
| Level One Bank | 44350 West 12 Mile Road Novi, MI 48377 | Full Service B&M | $42,644 |
| Level One Bank | 6450 Telegraph Road Bloomfield Hills, MI 48301 | Full Service Retail | $26,782 |
For 2019, Level One Bank had 12 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $70,390 |
| Net interest income | $52,075 |
| Total noninterest income | $13,036 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $3,004 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $10,032 |
| Pre-tax net operating income | $19,698 |
| Securities gains (or losses, -) | $1,174 |
| Income before extraordinary items | $17,053 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $17,053 |
| Minority interest net income | $0 |
| Net income | $17,053 |
| Sale, conversion, retirement of capital stock, net | $595 |
| Net operating income | $16,090 |
Level One Bank's gross interest income from loans was $70,390,000.
Level One Bank's net interest income from loans was $52,075,000.
Level One Bank's fee based income from loans was $3,004,000.
Level One Bank's net income from loans was $17,053,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $18,315 |
| Provision for credit losses | $1,383 |
| Total noninterest expense | $44,030 |
| Salaries and employee benefits | $28,606 |
| Premises and equipment expense | $4,137 |
| Additional noninterest expense | $11,287 |
| Applicable income taxes | $3,819 |
| Net charge-offs | $275 |
| Cash dividends | $0 |
Level One Bank's interest expense for loans was $18,315,000.
Level One Bank's payroll and benefits expense were $28,606,000.
Level One Bank's property, plant and equipment expenses $4,137,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 0.0% |
| All other family | 1.0% |
| Commercial & industrial loans | 2.0% |
| Personal loans | 1.0% |
| Credit card loans | 0.0% |
| Other individual loans | 1.0% |
| Auto loans | 0.0% |
| Other consumer loans | 4.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $1,176,920 |
| Deposits held in domestic offices | $1,176,920 |
| Deposits by Individuals, partnerships, and corporations | $996,578 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $179,448 |
| Deposits by Commercial banks and other depository institutions in U.S. | $893 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $429,962 |
| Demand deposits | $372,294 |
| Nontransaction accounts | $746,957 |
| Money market deposit accounts (MMDAs) | $282,766 |
| Other savings deposits (excluding MMDAs) | $31,119 |
| Total time deposits | $433,072 |
| Total time and savings deposits | $804,625 |
| Noninterest-bearing deposits | $367,377 |
| Interest-bearing deposits | $809,543 |
| Retail deposits | $903,623 |
| IRAs and Keogh plan accounts | $9,672 |
| Brokered deposits | $67,415 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,582,399 |
| Cash & Balances due from depository institutions | $101,390 |
| Interest-bearing balances | $79,565 |
| Total securities | $180,905 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $1,228,824 |
| Loan and leases loss allowance | $12,674 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $13,787 |
| Other real estate owned | $921 |
| Goodwill and other intangibles | $9,771 |
| All other assets | $46,801 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,582,399 |
| Total Liabilities | $1,404,159 |
| Total deposits | $1,176,920 |
| Interest-bearing deposits | $809,543 |
| Deposits held in domestic offices | $1,176,920 |
| % insured (estimated) | $53 |
| Federal funds purchased and repurchase agreements | $5,851 |
| Trading liabilities | $0 |
| Other borrowed funds | $206,374 |
| Subordinated debt | $0 |
| All other liabilities | $15,014 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,228,824 |
| Loan and leases loss allowance | $12,674 |
| Total loans and leases (domestic) | $1,241,498 |
| All real estate loans | $867,672 |
| Real estate loans in domestic offices | $867,672 |
| Construction and development loans | $59,229 |
| Residential 1-4 family construction | $21,060 |
| Other construction, all land development and other land | $38,169 |
| Loans secured by nonfarm nonresidential properties | $502,932 |
| Nonfarm nonresidential secured by owner-occupied properties | $223,987 |
| Commercial real estate & other non-farm, non-residential | $278,945 |
| Multifamily residential real estate | $83,201 |
| 1-4 family residential loans | $222,310 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $372,628 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $889 |
| Credit card loans | $0 |
| Related Plans | $21 |
| Consumer Auto Loans | $544 |
| Other loans to individuals | $324 |
| All other loans & leases | $309 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $309 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $20,132 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $780 |
| Non 1-4 family restructured loans & leases | $547 |
| Total loans and leases (foreign) | $0 |
Level One Bank had $1,228,824,000 of loans outstanding in 2019. $867,672,000 of loans were in real estate loans. $59,229,000 of loans were in development loans. $83,201,000 of loans were in multifamily mortgage loans. $222,310,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $544,000 of loans were in the auto loan category.
Small Business Loans
| Categorization | # of Loans in Category | $ amount of loans (in 000's) | Average $/loan |
|---|---|---|---|
| Nonfarm, nonresidential loans - <$1MM | 388 | $124,214 | $320,139 |
| Nonfarm, nonresidential loans - <$100k | 11 | $537 | $48,818 |
| Nonfarm, nonresidential loans - $100-250k | 79 | $9,508 | $120,354 |
| Nonfarm, nonresidential loans - $250k-1MM | 298 | $114,169 | $383,117 |
| Commercial & Industrial, US addressed loans - <$1MM | 696 | $47,521 | $68,277 |
| Commercial & Industrial, US addressed loans - <$100k | 393 | $3,532 | $8,987 |
| Commercial & Industrial, US addressed loans - $100-250k | 79 | $5,768 | $73,013 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 224 | $38,221 | $170,629 |