Michigan Mutual Mortgage Rates, Fees & Info

PORT HURON, MI

LEI: 549300TK6RZQSFXZHV09

Tax ID: 38-3092473

5 stars - Updated: 4/5/25 - out of 5 stars, based on 59 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Michigan Mutual is a smaller mortgage company specializing in Home Purchase loans. Michigan Mutual has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Detroit, Phoenix, Bakersfield, Tampa, and Chicago among others. We have data for 316 markets. (Some data included below & more in-depth data is available with an active subscription.)

Michigan Mutual 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. Michigan Mutual is typically an average 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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 7.24% 4/5/25
30 Year Conventional Refi 7.15% 4/5/25
30 Year Cash-out Refi 7.21% 4/5/25
30 Year FHA Purchase 7.43% 4/5/25
30 Year FHA Refi 7.17% 4/5/25
30 Year VA Purchase 6.61% 4/5/25
30 Year VA Refi 6.46% 4/5/25
30 Year USDA Purchase 7.27% 4/5/25
30 Year USDA Refi 6.91% 4/5/25
15 Year Conventional Purchase 6.76% 4/5/25
15 Year Conventional Refi 6.60% 4/5/25
15 Year Cash-out Refi 6.60% 4/5/25
15 Year FHA Refi 6.00% 4/5/25
15 Year VA Refi 6.46% 4/5/25
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Michigan Mutual Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Michigan Mutual. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

3,486

Origination Dollar Volume (All Markets)

$978,630,000
Show all (10) awards

Relative Rate

Michigan Mutual's average 30 year fixed mortgage rate was 6.56%.

The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

This yields a difference of 0.01%.

Relative Fees (Closing Costs)

Michigan Mutual's average total fees/closing costs for a 30 year fixed rate mortgage were $8,349.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

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) 716 $159,620,000 $222,933 $5,818 6.46%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 127 $47,715,000 $375,709 $9,577 6.92%
BAKERSFIELD, CA (FHA|USDA|VA) 108 $39,940,000 $369,815 $10,777 6.40%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 114 $38,390,000 $336,754 $11,295 6.68%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 124 $34,420,000 $277,581 $9,855 6.84%
Outside of Metro Areas 157 $32,085,000 $204,363 $6,762 6.28%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 61 $25,525,000 $418,443 $14,663 6.59%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 38 $24,790,000 $652,368 $11,378 6.69%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 53 $19,015,000 $358,774 $10,705 6.73%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 39 $17,985,000 $461,154 $13,327 6.54%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 47 $14,545,000 $309,468 $10,857 6.88%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 31 $14,335,000 $462,419 $9,614 6.67%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 42 $13,850,000 $329,762 $11,697 6.69%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 28 $13,850,000 $494,643 $9,914 6.65%
GOLDSBORO, NC (FHA|USDA|VA) 56 $13,820,000 $246,786 $5,823 6.48%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 42 $13,820,000 $329,048 $10,397 6.86%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 32 $13,270,000 $414,688 $10,118 6.40%
PITTSBURGH, PA (FHA|USDA|VA) 60 $12,930,000 $215,500 $7,313 6.69%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 19 $12,755,000 $671,316 $15,589 6.63%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 51 $10,715,000 $210,098 $6,109 5.57%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 34 $9,600,000 $282,353 $8,010 6.84%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 25 $9,585,000 $383,400 $13,765 6.48%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 35 $8,625,000 $246,429 $8,387 6.41%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 44 $8,220,000 $186,818 $3,918 6.42%
WINSTON-SALEM, NC (FHA|USDA|VA) 34 $8,080,000 $237,647 $6,595 6.44%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 25 $7,725,000 $309,000 $10,950 6.47%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 14 $7,540,000 $538,571 $6,737 7.08%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 29 $7,515,000 $259,138 $10,428 6.68%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 21 $7,505,000 $357,381 $12,027 6.64%
JACKSONVILLE, FL (FHA|USDA|VA) 19 $7,275,000 $382,895 $9,942 6.05%
DOVER, DE (FHA|USDA|VA) 26 $7,010,000 $269,615 $10,050 6.51%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 40 $6,870,000 $171,750 $7,005 6.83%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 23 $6,595,000 $286,739 $8,136 6.14%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 36 $6,560,000 $182,222 $6,848 5.82%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 7 $6,085,000 $869,286 $12,411 6.89%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 14 $5,920,000 $422,857 $13,690 6.33%
LAS CRUCES, NM (FHA|USDA|VA) 27 $5,585,000 $206,852 $7,255 6.72%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 19 $5,455,000 $287,105 $8,495 6.68%
FORT WAYNE, IN (FHA|USDA|VA) 23 $5,355,000 $232,826 $5,874 6.73%
FLINT, MI (FHA|USDA|VA) 30 $5,280,000 $176,000 $6,685 6.19%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 20 $5,220,000 $261,000 $10,679 6.49%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 24 $4,860,000 $202,500 $6,568 6.87%
PORT ST. LUCIE, FL (FHA|USDA|VA) 14 $4,710,000 $336,429 $11,063 6.64%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 15 $4,705,000 $313,667 $9,489 6.56%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 15 $4,605,000 $307,000 $14,821 6.68%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 14 $4,590,000 $327,857 $13,420 6.52%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 8 $4,510,000 $563,750 $11,364 6.84%
FAYETTEVILLE, NC (FHA|USDA|VA) 15 $4,235,000 $282,333 $7,152 6.17%
COLORADO SPRINGS, CO (FHA|USDA|VA) 13 $4,205,000 $323,462 $8,314 6.55%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 11 $4,125,000 $375,000 $12,087 6.77%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 13 $3,985,000 $306,538 $11,633 6.79%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 17 $3,965,000 $233,235 $9,182 6.36%
ANN ARBOR, MI (FHA|USDA|VA) 11 $3,815,000 $346,818 $7,880 6.84%
Kinston, NC (FHA|USDA|VA) 19 $3,735,000 $196,579 $5,197 6.47%
TUCSON, AZ (FHA|USDA|VA) 13 $3,685,000 $283,462 $5,450 6.91%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 13 $3,675,000 $282,692 $11,218 6.45%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 7 $3,655,000 $522,143 $17,589 5.77%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 17 $3,645,000 $214,412 $7,306 7.13%
Marquette, MI (FHA|USDA|VA) 19 $3,575,000 $188,158 $4,929 6.10%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 7 $3,265,000 $466,429 $11,522 6.82%
GREEN BAY, WI (FHA|USDA|VA) 14 $3,050,000 $217,857 $6,413 6.77%
Roswell, NM (FHA|USDA|VA) 13 $3,045,000 $234,231 $10,252 6.96%
LOUISVILLE, KY (FHA|USDA|VA) 12 $3,010,000 $250,833 $8,325 6.82%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 7 $2,955,000 $422,143 $9,055 6.98%
OCALA, FL (FHA|USDA|VA) 12 $2,850,000 $237,500 $9,935 6.77%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 11 $2,805,000 $255,000 $5,656 6.83%
ALBUQUERQUE, NM (FHA|USDA|VA) 11 $2,805,000 $255,000 $9,718 6.93%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 15 $2,595,000 $173,000 $6,784 6.40%
TOLEDO, OH (FHA|USDA|VA) 12 $2,580,000 $215,000 $7,330 6.65%
GREELEY, CO (FHA|USDA|VA) 5 $2,555,000 $511,000 $10,944 6.53%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 13 $2,495,000 $191,923 $5,996 7.00%
LAFAYETTE, LA (FHA|USDA|VA) 10 $2,400,000 $240,000 $6,807 6.60%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 8 $2,390,000 $298,750 $10,428 6.56%
Holland, MI (FHA|USDA|VA) 7 $2,125,000 $303,571 $7,387 5.82%
YORK-HANOVER, PA (FHA|USDA|VA) 9 $2,085,000 $231,667 $7,452 6.83%
Pottsville, PA (FHA|USDA|VA) 15 $2,045,000 $136,333 $5,743 6.29%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 6 $2,040,000 $340,000 $8,189 7.04%
MONTGOMERY, AL (FHA|USDA|VA) 8 $2,030,000 $253,750 $5,975 6.30%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 7 $1,995,000 $285,000 $9,314 6.98%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 16 $1,950,000 $121,875 $4,386 4.55%
ST. LOUIS, MO-IL (FHA|USDA|VA) 7 $1,915,000 $273,571 $6,964 6.73%
MERCED, CA (FHA|USDA|VA) 8 $1,880,000 $235,000 $8,825 7.44%
MONROE, MI (FHA|USDA|VA) 7 $1,805,000 $257,857 $8,803 6.82%
GREENVILLE, NC (FHA|USDA|VA) 8 $1,780,000 $222,500 $7,907 6.25%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 7 $1,685,000 $240,714 $6,343 6.91%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $1,660,000 $415,000 $15,116 6.50%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 7 $1,635,000 $233,571 $7,197 5.86%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 6 $1,610,000 $268,333 $6,306 5.96%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 4 $1,540,000 $385,000 $5,893 7.22%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 6 $1,540,000 $256,667 $4,893 6.52%
MUSKEGON, MI (FHA|USDA|VA) 15 $1,495,000 $99,667 $3,044 3.93%
RALEIGH-CARY, NC (FHA|USDA|VA) 4 $1,480,000 $370,000 $10,183 5.97%
STOCKTON, CA (FHA|USDA|VA) 3 $1,445,000 $481,667 $15,476 6.13%
THE VILLAGES, FL (FHA|USDA|VA) 5 $1,445,000 $289,000 $7,021 6.65%
SALINAS, CA (FHA|USDA|VA) 2 $1,430,000 $715,000 $17,580 6.25%
COLUMBUS, OH (FHA|USDA|VA) 6 $1,430,000 $238,333 $6,936 6.90%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 5 $1,415,000 $283,000 $11,466 5.73%
Traverse City, MI (FHA|USDA|VA) 4 $1,400,000 $350,000 $12,252 6.69%
PUNTA GORDA, FL (FHA|USDA|VA) 6 $1,380,000 $230,000 $9,882 7.48%
KNOXVILLE, TN (FHA|USDA|VA) 4 $1,340,000 $335,000 $9,573 6.63%
Fremont, OH (FHA|USDA|VA) 7 $1,205,000 $172,143 $5,494 7.03%
Auburn, IN (FHA|USDA|VA) 6 $1,190,000 $198,333 $4,540 6.69%
Sunbury, PA (FHA|USDA|VA) 7 $1,185,000 $169,286 $6,611 7.21%
WICHITA FALLS, TX (FHA|USDA|VA) 3 $1,155,000 $385,000 $9,863 6.58%
FARMINGTON, NM (FHA|USDA|VA) 7 $1,155,000 $165,000 $6,667 6.82%
WACO, TX (FHA|USDA|VA) 4 $1,150,000 $287,500 $12,406 6.44%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 3 $1,145,000 $381,667 $11,141 6.79%
TALLAHASSEE, FL (FHA|USDA|VA) 4 $1,140,000 $285,000 $12,277 6.53%
SPARTANBURG, SC (FHA|USDA|VA) 4 $1,130,000 $282,500 $10,878 6.78%
LANCASTER, PA (FHA|USDA|VA) 3 $1,125,000 $375,000 $12,038 6.29%
EAST STROUDSBURG, PA (FHA|USDA|VA) 4 $1,110,000 $277,500 $8,387 7.28%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 4 $1,080,000 $270,000 $4,212 7.16%
READING, PA (FHA|USDA|VA) 6 $1,080,000 $180,000 $6,708 7.18%
RICHMOND, VA (FHA|USDA|VA) 2 $1,070,000 $535,000 $9,174 7.06%
Sevierville, TN (FHA|USDA|VA) 1 $1,065,000 $1,065,000 $18,660 8.63%
PROVO-OREM, UT (FHA|USDA|VA) 2 $1,050,000 $525,000 $17,454 6.19%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 3 $1,045,000 $348,333 $8,766 6.71%
LAKE CHARLES, LA (FHA|USDA|VA) 4 $1,030,000 $257,500 $10,348 6.31%
WILMINGTON, NC (FHA|USDA|VA) 2 $1,030,000 $515,000 $11,763 5.81%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $1,000,000 $500,000 $7,630 6.44%
JACKSON, MI (FHA|USDA|VA) 4 $990,000 $247,500 $10,983 6.31%
BOULDER, CO (FHA|USDA|VA) 2 $960,000 $480,000 $14,979 6.00%
TULSA, OK (FHA|USDA|VA) 3 $905,000 $301,667 $8,385 7.38%
FRESNO, CA (FHA|USDA|VA) 2 $900,000 $450,000 $1,825 7.37%
Warsaw, IN (FHA|USDA|VA) 3 $865,000 $288,333 $5,947 6.67%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $860,000 $430,000 $14,176 7.31%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 4 $860,000 $215,000 $7,503 6.94%
AKRON, OH (FHA|USDA|VA) 4 $850,000 $212,500 $6,355 6.91%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 5 $835,000 $167,000 $6,922 6.88%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 3 $835,000 $278,333 $7,326 7.08%
JACKSONVILLE, NC (FHA|USDA|VA) 4 $830,000 $207,500 $6,027 6.38%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 4 $830,000 $207,500 $4,409 6.25%
Carlsbad-Artesia, NM (FHA|USDA|VA) 2 $790,000 $395,000 $14,587 7.13%
Safford, AZ (FHA|USDA|VA) 2 $780,000 $390,000 $8,179 6.63%
MIDLAND, MI (FHA|USDA|VA) 3 $775,000 $258,333 $7,763 6.91%
MOBILE, AL (FHA|USDA|VA) 3 $765,000 $255,000 $8,417 6.13%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 4 $760,000 $190,000 $5,854 6.75%
MODESTO, CA (FHA|USDA|VA) 3 $745,000 $248,333 $7,289 7.04%
CHICO, CA (FHA|USDA|VA) 3 $745,000 $248,333 $8,592 7.08%
LUBBOCK, TX (FHA|USDA|VA) 4 $730,000 $182,500 $9,152 7.16%
BAY CITY, MI (FHA|USDA|VA) 5 $725,000 $145,000 $3,643 5.48%
Norwalk, OH (FHA|USDA|VA) 4 $720,000 $180,000 $4,564 7.65%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 3 $715,000 $238,333 $7,752 6.50%
BATTLE CREEK, MI (FHA|USDA|VA) 6 $710,000 $118,333 $4,412 7.12%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 4 $700,000 $175,000 $7,582 6.90%
OKLAHOMA CITY, OK (FHA|USDA|VA) 4 $690,000 $172,500 $7,304 6.34%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $680,000 $340,000 $8,371 6.62%
Wilson, NC (FHA|USDA|VA) 4 $680,000 $170,000 $3,234 6.19%
Shawano, WI (FHA|USDA|VA) 3 $675,000 $225,000 $8,053 6.88%
Shelbyville, TN (FHA|USDA|VA) 1 $675,000 $675,000 $1,795 6.63%
MEDFORD, OR (FHA|USDA|VA) 3 $665,000 $221,667 $7,190 6.20%
WINCHESTER, VA-WV (FHA|USDA|VA) 2 $660,000 $330,000 $9,342 6.25%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 2 $660,000 $330,000 $10,106 7.38%
PUEBLO, CO (FHA|USDA|VA) 2 $640,000 $320,000 $4,889 6.62%
GRAND JUNCTION, CO (FHA|USDA|VA) 2 $630,000 $315,000 $19,896 5.88%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $625,000 $625,000 $26,921 6.13%
BLOOMINGTON, IN (FHA|USDA|VA) 3 $625,000 $208,333 $8,853 6.33%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $620,000 $310,000 $2,435 7.50%
MORRISTOWN, TN (FHA|USDA|VA) 2 $610,000 $305,000 $11,127 6.56%
Salem, OH (FHA|USDA|VA) 3 $605,000 $201,667 $3,336 6.92%
Alexander City, AL (FHA|USDA|VA) 1 $605,000 $605,000 $14,206 6.13%
CORPUS CHRISTI, TX (FHA|USDA|VA) 3 $595,000 $198,333 $7,455 6.83%
HINESVILLE, GA (FHA|USDA|VA) 3 $585,000 $195,000 $8,289 6.50%
STATE COLLEGE, PA (FHA|USDA|VA) 3 $575,000 $191,667 $5,559 6.54%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $570,000 $285,000 $8,534 6.56%
Ruidoso, NM (FHA|USDA|VA) 2 $560,000 $280,000 $7,939 7.00%
GETTYSBURG, PA (FHA|USDA|VA) 2 $560,000 $280,000 $8,697 6.75%
LAWTON, OK (FHA|USDA|VA) 2 $560,000 $280,000 $5,848 6.75%
BELLINGHAM, WA (FHA|USDA|VA) 1 $555,000 $555,000 $6,718 6.63%
Huntington, IN (FHA|USDA|VA) 3 $545,000 $181,667 $9,067 7.04%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $545,000 $545,000 $12,631 5.13%
Montrose, CO (FHA|USDA|VA) 1 $535,000 $535,000 $16,845 6.25%
TYLER, TX (FHA|USDA|VA) 2 $530,000 $265,000 $11,061 6.38%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 2 $530,000 $265,000 $11,565 6.25%
FORT COLLINS, CO (FHA|USDA|VA) 2 $520,000 $260,000 $11,050 7.06%
ROME, GA (FHA|USDA|VA) 2 $520,000 $260,000 $4,430 7.06%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $515,000 $515,000 $7,697 7.38%
Okeechobee, FL (FHA|USDA|VA) 3 $515,000 $171,667 $6,300 5.13%
NAPA, CA (FHA|USDA|VA) 1 $505,000 $505,000 $3,473 6.63%
CEDAR RAPIDS, IA (FHA|USDA|VA) 2 $500,000 $250,000 $7,886 6.25%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $500,000 $250,000 $7,816 6.43%
TERRE HAUTE, IN (FHA|USDA|VA) 2 $500,000 $250,000 $8,770 6.75%
KANKAKEE, IL (FHA|USDA|VA) 2 $500,000 $250,000 $12,100 6.44%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $495,000 $495,000 $18,640 6.25%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $495,000 $495,000 $4,741 6.25%
GAINESVILLE, FL (FHA|USDA|VA) 2 $490,000 $245,000 $8,353 6.56%
Newport, OR (FHA|USDA|VA) 1 $485,000 $485,000 $15,622 6.00%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 3 $475,000 $158,333 $5,698 6.96%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $475,000 $475,000 $15,278 5.75%
Fredericksburg, TX (FHA|USDA|VA) 1 $475,000 $475,000 $13,550 6.99%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $475,000 $475,000 $14,061 6.63%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 2 $470,000 $235,000 $10,579 6.63%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $465,000 $465,000 $10,714 6.75%
Taos, NM (FHA|USDA|VA) 1 $455,000 $455,000 $15,839 6.75%
AMARILLO, TX (FHA|USDA|VA) 2 $450,000 $225,000 $9,229 6.88%
Lewisburg, TN (FHA|USDA|VA) 2 $450,000 $225,000 $9,036 6.44%
HOT SPRINGS, AR (FHA|USDA|VA) 1 $435,000 $435,000 $1,842 6.25%
Roseburg, OR (FHA|USDA|VA) 2 $430,000 $215,000 $9,217 6.75%
Sheridan, WY (FHA|USDA|VA) 1 $415,000 $415,000 $8,622 6.13%
MIDLAND, TX (FHA|USDA|VA) 1 $405,000 $405,000 $12,391 7.25%
BATON ROUGE, LA (FHA|USDA|VA) 2 $400,000 $200,000 $3,442 6.75%
Ada, OK (FHA|USDA|VA) 3 $395,000 $131,667 $7,803 6.46%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $385,000 $385,000 $5,647 7.50%
Opelousas, LA (FHA|USDA|VA) 1 $385,000 $385,000 $6,690 6.25%
Pecos, TX (FHA|USDA|VA) 2 $380,000 $190,000 $10,895 5.94%
Easton, MD (FHA|USDA|VA) 1 $375,000 $375,000 $17,541 6.13%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $375,000 $375,000 $10,485 7.63%
Cullman, AL (FHA|USDA|VA) 1 $365,000 $365,000 $9,840 7.25%
NILES, MI (FHA|USDA|VA) 1 $365,000 $365,000 $20,114 6.63%
ERIE, PA (FHA|USDA|VA) 2 $360,000 $180,000 $9,136 6.56%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $355,000 $355,000 $4,578 6.75%
Lawrenceburg, TN (FHA|USDA|VA) 1 $355,000 $355,000 $19,723 5.63%
Outside of Metro Areas 1 $355,000 $355,000 $14,623 5.38%
Crescent City, CA (FHA|USDA|VA) 1 $345,000 $345,000 $12,512 6.99%
Granbury, TX (FHA|USDA|VA) 1 $345,000 $345,000 $14,148 7.13%
Hobbs, NM (FHA|USDA|VA) 2 $340,000 $170,000 $7,159 7.25%
LYNCHBURG, VA (FHA|USDA|VA) 1 $335,000 $335,000 $10,818 6.63%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 1 $325,000 $325,000 $9,426 6.13%
BOISE CITY, ID (FHA|USDA|VA) 1 $325,000 $325,000 $10,523 6.75%
Whitewater, WI (FHA|USDA|VA) 1 $325,000 $325,000 $5,069 7.63%
SAVANNAH, GA (FHA|USDA|VA) 1 $325,000 $325,000 $17,205 6.50%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $325,000 $325,000 $3,759 7.50%
Fort Morgan, CO (FHA|USDA|VA) 1 $325,000 $325,000 $7,289 7.25%
DULUTH, MN-WI (FHA|USDA|VA) 1 $325,000 $325,000 $7,912 7.38%
Iron Mountain, MI-WI (FHA|USDA|VA) 2 $320,000 $160,000 $5,702 7.31%
LIMA, OH (FHA|USDA|VA) 2 $320,000 $160,000 $7,076 7.87%
Sandusky, OH (FHA|USDA|VA) 2 $310,000 $155,000 $9,945 6.69%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $305,000 $305,000 $10,584 6.63%
GRANTS PASS, OR (FHA|USDA|VA) 1 $305,000 $305,000 $6,215 6.99%
McAlester, OK (FHA|USDA|VA) 2 $300,000 $150,000 $1,876 6.88%
Angola, IN (FHA|USDA|VA) 2 $300,000 $150,000 $4,377 7.12%
WILLIAMSPORT, PA (FHA|USDA|VA) 2 $290,000 $145,000 $2,606 3.19%
MORGANTOWN, WV (FHA|USDA|VA) 1 $285,000 $285,000 $6,417 5.99%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $285,000 $285,000 $14,746 6.25%
Van Wert, OH (FHA|USDA|VA) 1 $285,000 $285,000 $10,164 6.75%
Wooster, OH (FHA|USDA|VA) 1 $285,000 $285,000 $3,723 7.38%
CANTON-MASSILLON, OH (FHA|USDA|VA) 2 $280,000 $140,000 $7,585 6.25%
CLEVELAND, TN (FHA|USDA|VA) 1 $275,000 $275,000 $12,469 5.75%
TEXARKANA, TX-AR (FHA|USDA|VA) 1 $275,000 $275,000 $9,780 7.13%
Wabash, IN (FHA|USDA|VA) 1 $265,000 $265,000 $2,182 5.75%
Kendallville, IN (FHA|USDA|VA) 1 $265,000 $265,000 $5,016 6.13%
ROCKFORD, IL (FHA|USDA|VA) 1 $265,000 $265,000 $11,308 6.25%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $265,000 $265,000 $3,914 7.13%
MONROE, LA (FHA|USDA|VA) 1 $265,000 $265,000 $11,868 6.13%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $265,000 $265,000 $11,182 6.99%
VICTORIA, TX (FHA|USDA|VA) 1 $255,000 $255,000 $12,553 6.63%
Mount Vernon, OH (FHA|USDA|VA) 1 $255,000 $255,000 $7,747 7.13%
Clearlake, CA (FHA|USDA|VA) 1 $245,000 $245,000 $4,792 7.38%
Talladega-Sylacauga, AL (FHA|USDA|VA) 1 $245,000 $245,000 $12,549 7.25%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $245,000 $245,000 $9,073 5.75%
APPLETON, WI (FHA|USDA|VA) 1 $245,000 $245,000 $5,401 7.50%
Centralia, WA (FHA|USDA|VA) 1 $235,000 $235,000 $3,946 7.63%
Wilmington, OH (FHA|USDA|VA) 1 $235,000 $235,000 $10,827 7.25%
Big Spring, TX (FHA|USDA|VA) 1 $225,000 $225,000 $13,673 7.25%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $225,000 $225,000 $7,146 6.75%
Key West, FL (FHA|USDA|VA) 1 $225,000 $225,000 $10,194 8.13%
PANAMA CITY, FL (FHA|USDA|VA) 1 $215,000 $215,000 $12,641 5.75%
Rockport, TX (FHA|USDA|VA) 1 $215,000 $215,000 $12,144 5.99%
Greenwood, MS (FHA|USDA|VA) 1 $215,000 $215,000 $10,159 6.00%
Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $215,000 $215,000 $6,850 5.50%
Big Rapids, MI (FHA|USDA|VA) 2 $210,000 $105,000 $2,351 3.19%
SAGINAW, MI (FHA|USDA|VA) 1 $205,000 $205,000 $6,890 5.63%
Palatka, FL (FHA|USDA|VA) 1 $205,000 $205,000 $7,244 6.25%
Sayre, PA (FHA|USDA|VA) 1 $205,000 $205,000 $8,392 8.13%
GAINESVILLE, GA (FHA|USDA|VA) 1 $205,000 $205,000 $8,341 6.63%
Alamogordo, NM (FHA|USDA|VA) 2 $200,000 $100,000 $3,723 6.81%
Adrian, MI (FHA|USDA|VA) 1 $195,000 $195,000 $6,361 6.25%
Elizabeth City, NC (FHA|USDA|VA) 1 $195,000 $195,000 $4,138 5.75%
ROANOKE, VA (FHA|USDA|VA) 1 $195,000 $195,000 $8,530 7.63%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $195,000 $195,000 $6,620 6.25%
Deming, NM (FHA|USDA|VA) 2 $190,000 $95,000 $4,139 7.44%
KOKOMO, IN (FHA|USDA|VA) 1 $185,000 $185,000 $8,922 6.25%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $185,000 $185,000 $6,595 6.63%
Escanaba, MI (FHA|USDA|VA) 1 $185,000 $185,000 $2,996 6.50%
FOND DU LAC, WI (FHA|USDA|VA) 1 $185,000 $185,000 $9,641 6.75%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $185,000 $185,000 $9,839 6.50%
Decatur, IN (FHA|USDA|VA) 1 $175,000 $175,000 $10,262 6.38%
Coldwater, MI (FHA|USDA|VA) 1 $175,000 $175,000 $2,669 7.50%
ABILENE, TX (FHA|USDA|VA) 1 $175,000 $175,000 $11,858 7.25%
Port Lavaca, TX (FHA|USDA|VA) 1 $175,000 $175,000 $12,931 6.75%
Oil City, PA (FHA|USDA|VA) 1 $165,000 $165,000 $5,515 6.99%
Duncan, OK (FHA|USDA|VA) 1 $165,000 $165,000 $2,117 6.75%
Bluffton, IN (FHA|USDA|VA) 1 $165,000 $165,000 $4,721 6.75%
New Castle, PA (FHA|USDA|VA) 1 $165,000 $165,000 $7,198 7.50%
Lake City, FL (FHA|USDA|VA) 1 $165,000 $165,000 $9,085 7.25%
Ozark, AL (FHA|USDA|VA) 1 $165,000 $165,000 $4,912 6.75%
Oskaloosa, IA (FHA|USDA|VA) 1 $155,000 $155,000 $5,291 6.13%
New Philadelphia-Dover, OH (FHA|USDA|VA) 1 $155,000 $155,000 $4,681 7.63%
Mount Pleasant, MI (FHA|USDA|VA) 1 $155,000 $155,000 $2,313 6.99%
ASHEVILLE, NC (FHA|USDA|VA) 1 $155,000 $155,000 $3,132 6.88%
Washington, NC (FHA|USDA|VA) 1 $155,000 $155,000 $3,841 6.50%
Mount Airy, NC (FHA|USDA|VA) 1 $155,000 $155,000 $9,327 5.88%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $145,000 $145,000 $7,705 7.38%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $145,000 $145,000 $7,363 6.50%
Weatherford, OK (FHA|USDA|VA) 1 $135,000 $135,000 $12,339 6.88%
FLORENCE, SC (FHA|USDA|VA) 1 $135,000 $135,000 $5,080 6.99%
Bedford, IN (FHA|USDA|VA) 1 $135,000 $135,000 $6,542 6.75%
Manitowoc, WI (FHA|USDA|VA) 1 $135,000 $135,000 $6,144 7.13%
Coshocton, OH (FHA|USDA|VA) 1 $135,000 $135,000 $6,579 6.63%
Silver City, NM (FHA|USDA|VA) 1 $135,000 $135,000 $2,231 6.88%
Clinton, IA (FHA|USDA|VA) 1 $135,000 $135,000 $2,011 5.99%
Sault Ste. Marie, MI (FHA|USDA|VA) 2 $130,000 $65,000 $1,962 3.31%
Somerset, PA (FHA|USDA|VA) 1 $125,000 $125,000 $6,192 6.63%
Stephenville, TX (FHA|USDA|VA) 1 $125,000 $125,000 $5,941 7.63%
Show Low, AZ (FHA|USDA|VA) 1 $125,000 $125,000 $5,326 7.13%
Fairmont, MN (FHA|USDA|VA) 1 $125,000 $125,000 $7,649 5.99%
NEW BERN, NC (FHA|USDA|VA) 1 $115,000 $115,000 $5,437 7.50%
STAUNTON, VA (FHA|USDA|VA) 1 $115,000 $115,000 $4,597 7.13%
Ashtabula, OH (FHA|USDA|VA) 1 $115,000 $115,000 $4,229 6.99%
WHEELING, WV-OH (FHA|USDA|VA) 1 $115,000 $115,000 $8,649 6.75%
JACKSON, TN (FHA|USDA|VA) 1 $105,000 $105,000 $5,560 7.25%
AMES, IA (FHA|USDA|VA) 1 $105,000 $105,000 $1,555 6.13%
Moultrie, GA (FHA|USDA|VA) 1 $105,000 $105,000 $7,495 6.13%
Marinette, WI-MI (FHA|USDA|VA) 1 $105,000 $105,000 $3,680 7.50%
Sandpoint, ID (FHA|USDA|VA) 1 $105,000 $105,000 $4,403 7.13%
Arcadia, FL (FHA|USDA|VA) 1 $75,000 $75,000 $5,303 6.99%
Michigan Mutual's top markets include Detroit, Phoenix, Bakersfield, Tampa, and Chicago among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,190 $596,840,000 $272,530 $6,779 6.59%
    FHA 987 $282,005,000 $285,719 $12,100 6.47%
    VA 272 $92,000,000 $338,235 $6,915 6.43%
    USDA 37 $7,785,000 $210,405 $7,902 6.43%

    For 2024, Michigan Mutual's most frequently originated type of loan was Conventional, with 2,190 originations. Their 2nd most popular type was FHA, with 987 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,880 $806,720,000 $280,111 $8,248 6.50%
    Cash Out Refi 352 $90,440,000 $256,932 $8,344 6.84%
    Refi 253 $81,265,000 $321,206 $8,936 6.64%
    Home Improvement 1 $205,000 $205,000 $8,343 6.99%

    For 2024, Michigan Mutual's most frequently cited loan purpose was Home Purchase, with 2,880 originations. The 2nd most popular reason was Cash Out Refi, with 352 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,395 $959,175,000 $282,526 $8,349 6.56%
    15 Year 38 $8,330,000 $219,211 $6,998 6.36%
    20 Year 23 $6,175,000 $268,478 $6,014 6.92%
    Other 20 $4,530,000 $226,500 $10,254 6.59%
    10 Year 6 $380,000 $63,333 $1,083 3.48%
    3 Year 4 $40,000 $10,000 $0 0.00%

    For 2024, Michigan Mutual's most frequently cited loan duration was 30 Year, with 3,395 originations. The 2nd most popular length was 15 Year, with 38 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 983 $364,675,000 $370,982
    $1k-2k 643 $173,465,000 $269,774
    $<1k 611 $138,915,000 $227,357
    $2k-3k 526 $118,370,000 $225,038
    $3k-4k 394 $97,250,000 $246,827
    $4k-5k 329 $85,955,000 $261,261

    Michigan Mutual's average total fees were $8,349, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 983 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 1,899 $552,645,000 $291,019
    7-8% 964 $261,030,000 $270,778
    5-6% 431 $139,285,000 $323,167
    <2.5% 107 $1,315,000 $12,290
    Over 8% 74 $20,130,000 $272,027
    4-5% 10 $3,960,000 $396,000
    3-4% 1 $265,000 $265,000

    During 2024, Michigan Mutual's average interest rate for loans was 6.56%, while their most frequently originated rate bucket for loans was 6-7%, with 1,899 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,546 $435,280,000 $281,552 $8,817 6.71%
    $100k-200k 1,007 $157,365,000 $156,271 $5,856 6.84%
    $400k-600k 492 $233,720,000 $475,041 $12,513 6.61%
    $100,000 or less 250 $12,370,000 $49,480 $2,502 4.08%
    $600k-1MM 182 $129,310,000 $710,495 $13,268 6.70%
    $1MM+ 9 $10,585,000 $1,176,111 $26,214 7.21%

    2024 saw Michigan Mutual place emphasis on $200k-400k loans with 1,546 originations, totaling $435,280,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 823 $152,365,000 $185,134 $6,507 6.30%
    $100k-150k 817 $266,245,000 $325,881 $10,060 6.70%
    $75k-100k 665 $165,705,000 $249,180 $8,143 6.53%
    $150k-250k 557 $229,775,000 $412,522 $9,995 6.80%
    $50k or less 404 $56,930,000 $140,916 $5,430 6.22%
    $250k+ 188 $96,000,000 $510,638 $10,393 6.95%

    Michigan Mutual lent most frequently to those with incomes in the $50k-75k range, with 823 originations. The second most popular income band? $100k-150k, with 817 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 492 $127,550,000 $259,248 $6,967 6.50%
    20-30% 401 $100,625,000 $250,935 $6,787 6.72%
    50-60% 397 $126,935,000 $319,736 $11,596 6.36%
    49% 214 $68,640,000 $320,748 $8,701 6.73%
    44% 183 $47,825,000 $261,339 $7,617 6.22%
    48% 166 $47,530,000 $286,325 $9,366 6.68%
    43% 160 $41,140,000 $257,125 $7,724 6.26%
    46% 156 $48,780,000 $312,692 $9,470 6.63%
    47% 149 $45,455,000 $305,067 $8,800 6.80%
    42% 146 $42,030,000 $287,877 $8,076 6.28%
    40% 137 $37,275,000 $272,080 $7,937 6.38%
    39% 137 $38,875,000 $283,759 $8,224 6.57%
    41% 131 $35,485,000 $270,878 $7,432 6.58%
    45% 123 $33,895,000 $275,569 $8,913 6.79%
    38% 115 $33,025,000 $287,174 $8,306 6.57%
    37% 113 $30,575,000 $270,575 $8,535 6.50%
    36% 94 $25,730,000 $273,723 $7,225 6.49%
    <20% 93 $21,575,000 $231,989 $6,452 6.58%
    >60% 42 $12,570,000 $299,286 $9,565 7.32%

    Michigan Mutual lent most frequently to those with DTI ratios of 30-36%, with 492 originations. The next most common DTI ratio? 20-30%, with 401 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,461 $673,395,000 $273,627 $8,018 6.53%
    Not provided 612 $181,690,000 $296,879 $8,627 6.62%
    Black 262 $71,240,000 $271,908 $9,864 6.43%
    Asian 125 $44,665,000 $357,320 $8,847 6.69%
    American Indian 15 $3,885,000 $259,000 $10,026 6.68%
    Native Hawaiian or Islander 8 $2,910,000 $363,750 $10,128 6.61%
    Filipino 1 $475,000 $475,000 $13,527 5.75%
    Asian Indian 2 $370,000 $185,000 $7,162 6.69%

    Approval Rates

    Total approvals of all applications
    89.84%

    Michigan Mutual has an average approval rate.

    Pick Rate

    Approvals leading to origination
    59.90%

    Michigan Mutual has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,486 $978,630,000 $280,731

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,486 $978,630,000 $280,731

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 97 $18,825,000 $194,072 $5,408 6.70%
    40-60% 288 $74,440,000 $258,472 $6,460 6.76%
    60-80% 834 $240,070,000 $287,854 $7,943 6.93%
    80-100% 2,071 $616,695,000 $297,776 $9,203 6.68%
    Over 100% 74 $25,010,000 $337,973 $11,247 6.35%
    Under 20% 120 $3,110,000 $25,917 $341 0.91%