West Michigan Community Bank Mortgage Rates, Fees & Info
Hudsonville, MILEI: 549300FN26DK7DGUPD51
Tax ID: 38-2113597
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
West Michigan Community Bank is a smaller bank specializing in Home Purchase and Refi loans. West Michigan Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Grand Rapids, Muskegon, Holland, Traverse City, and Big Rapids among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)West Michigan Community 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.
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Originations
105Origination Dollar Volume (All Markets)
$92,415,000Top 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) | 74 | $71,560,000 | $967,027 | $0 | 0.00% |
| MUSKEGON, MI (FHA|USDA|VA) | 5 | $9,695,000 | $1,939,000 | $0 | 0.00% |
| Holland, MI (FHA|USDA|VA) | 15 | $5,645,000 | $376,333 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $3,370,000 | $842,500 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $0 | 0.00% |
| Big Rapids, MI (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Ludington, MI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Sturgis, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against West Michigan Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 64
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 105 | $92,415,000 | $880,143 | $0 | 0.00% |
For 2024, West Michigan Community Bank's most frequently originated type of loan was Conventional, with 105 originations.
Loan Reason
For 2024, West Michigan Community Bank's most frequently cited loan purpose was Home Purchase, with 88 originations. The 2nd most popular reason was Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 105 | $92,415,000 | $880,143 | $0 | 0.00% |
For 2024, West Michigan Community Bank's most frequently cited loan duration was Other, with 105 originations.
Loan Sizing
2024 saw West Michigan Community Bank place emphasis on $200k-400k loans with 50 originations, totaling $14,040,000 in origination value.
Applicant Income
West Michigan Community Bank lent most frequently to those with incomes in the $50k-75k range, with 18 originations. The second most popular income band? $100k-150k, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 105 | $92,415,000 | $880,143 | $0 | 0.00% |
West Michigan Community Bank lent most frequently to those with DTI ratios of Exempt%, with 105 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.99%
West Michigan Community 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 origination80.00%
West Michigan Community Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 105 | $92,415,000 | $880,143 |