Macatawa Bank Mortgage Rates, Fees & Info
Holland, MILEI: 549300M5D5Q2KMDSMP10
Tax ID: 38-3378283
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Mortgage Data
Review & Overview
Macatawa Bank is a smaller bank specializing in Other and Home Purchase loans. Macatawa 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: Grand Rapids, Holland, Kalamazoo, Muskegon, and Traverse City among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Macatawa Bank 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
423Origination Dollar Volume (All Markets)
$98,645,000Top 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) | 323 | $71,055,000 | $219,985 | $0 | 0.00% |
| Holland, MI (FHA|USDA|VA) | 71 | $16,295,000 | $229,507 | $0 | 0.00% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 5 | $4,535,000 | $907,000 | $0 | 0.00% |
| Outside of Metro Areas | 13 | $3,125,000 | $240,385 | $0 | 0.00% |
| MUSKEGON, MI (FHA|USDA|VA) | 5 | $1,045,000 | $209,000 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| Sturgis, MI (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 0.00% |
| Big Rapids, MI (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| Houghton, MI (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 0.00% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| MIDLAND, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Macatawa 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 | 422 | $98,290,000 | $232,915 | $0 | 0.00% |
| FHA | 1 | $355,000 | $355,000 | $0 | 0.00% |
For 2024, Macatawa Bank's most frequently originated type of loan was Conventional, with 422 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2024, Macatawa Bank's most frequently cited loan purpose was Other, with 148 originations. The 2nd most popular reason was Home Purchase, with 111 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 423 | $98,645,000 | $233,203 | $0 | 0.00% |
For 2024, Macatawa Bank's most frequently cited loan duration was Other, with 423 originations.
Loan Sizing
2024 saw Macatawa Bank place emphasis on $100k-200k loans with 157 originations, totaling $21,375,000 in origination value.
Applicant Income
Macatawa Bank lent most frequently to those with incomes in the $100k-150k range, with 88 originations. The second most popular income band? $50k-75k, with 80 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 423 | $98,645,000 | $233,203 | $0 | 0.00% |
Macatawa Bank lent most frequently to those with DTI ratios of Exempt%, with 423 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.83%
Macatawa Bank has a below average approval rate.
Pick Rate
Approvals leading to origination87.94%
Macatawa Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 423 | $98,645,000 | $233,203 |