Michigan Mutual Mortgage Rates, Fees & Info

PORT HURON, MI

LEI: 549300TK6RZQSFXZHV09

Tax ID: 38-3092473

3.7 stars - out of 5 stars, based on 65 reviews

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

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Mortgage Data

Review & Overview

Michigan Mutual is a small mortgage company specializing in Home Purchase and Cash Out Refi 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, Tampa, Los Angeles, Riverside, and Phoenix among others. We have data for 306 markets. (Some data included below & more in-depth data is available with an active subscription.)

Michigan Mutual 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. 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
Home Equity Line of Credit (HELOC) 6.27% 5/28/23
30 Year Conventional Purchase 6.90% 5/28/23
30 Year Conventional Refi 6.65% 5/28/23
30 Year Cash-out Refi 6.71% 5/28/23
30 Year FHA Purchase 7.60% 5/28/23
30 Year FHA Refi 7.50% 5/28/23
30 Year VA Purchase 6.69% 5/28/23
30 Year VA Refi 6.53% 5/28/23
30 Year USDA Purchase 7.01% 5/28/23
30 Year USDA Refi 6.73% 5/28/23
15 Year Conventional Purchase 6.16% 5/28/23
15 Year Conventional Refi 6.07% 5/28/23
15 Year Cash-out Refi 6.07% 5/28/23
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

4,213

Origination Dollar Volume (All Markets)

$1,067,165,000
Show all (9) awards

Relative Rate

Michigan Mutual's average 30 year fixed mortgage rate was 4.92%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.16%.

Relative Fees (Closing Costs)

Michigan Mutual's average total fees/closing costs for a 30 year fixed rate mortgage were $7,272.

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 $4,750.

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) 1,099 $230,665,000 $209,886 $5,377 4.84%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 193 $56,865,000 $294,637 $9,596 5.09%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 99 $48,295,000 $487,828 $10,180 4.43%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 102 $40,360,000 $395,686 $9,791 4.31%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 137 $37,035,000 $270,328 $7,764 4.95%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 87 $28,855,000 $331,667 $10,359 4.90%
Outside of Metro Areas 152 $28,120,000 $185,000 $5,872 4.89%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 68 $27,360,000 $402,353 $7,438 4.16%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 75 $25,745,000 $343,267 $11,489 4.73%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 67 $23,285,000 $347,537 $8,041 3.96%
BAKERSFIELD, CA (FHA|USDA|VA) 66 $21,510,000 $325,909 $11,351 4.97%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 74 $20,840,000 $281,622 $7,294 4.47%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 78 $16,330,000 $209,359 $5,019 4.66%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 53 $15,795,000 $298,019 $10,551 4.90%
ANN ARBOR, MI (FHA|USDA|VA) 50 $14,690,000 $293,800 $4,793 4.61%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 35 $12,295,000 $351,286 $11,734 4.37%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 51 $12,225,000 $239,706 $7,696 5.26%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 25 $11,995,000 $479,800 $7,328 5.18%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 26 $11,670,000 $448,846 $6,433 5.01%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 48 $11,510,000 $239,792 $8,642 4.56%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 25 $11,375,000 $455,000 $9,968 4.44%
COLUMBUS, OH (FHA|USDA|VA) 50 $10,970,000 $219,400 $7,296 4.99%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 34 $10,170,000 $299,118 $10,782 4.65%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 27 $9,805,000 $363,148 $9,846 5.02%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 34 $9,460,000 $278,235 $8,406 5.09%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 56 $9,380,000 $167,500 $5,095 4.76%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 36 $9,200,000 $255,556 $6,052 5.23%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 16 $8,420,000 $526,250 $12,655 4.09%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 31 $8,045,000 $259,516 $7,978 4.67%
GOLDSBORO, NC (FHA|USDA|VA) 37 $7,265,000 $196,351 $5,090 5.16%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 38 $7,230,000 $190,263 $5,900 4.96%
FLINT, MI (FHA|USDA|VA) 39 $7,035,000 $180,385 $5,542 5.29%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 27 $6,945,000 $257,222 $8,270 4.88%
PITTSBURGH, PA (FHA|USDA|VA) 39 $6,615,000 $169,615 $6,870 5.41%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 38 $6,000,000 $157,895 $5,648 5.18%
TUCSON, AZ (FHA|USDA|VA) 23 $5,345,000 $232,391 $6,291 4.96%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 8 $4,370,000 $546,250 $16,780 5.25%
COLORADO SPRINGS, CO (FHA|USDA|VA) 12 $4,190,000 $349,167 $8,606 4.70%
GREEN BAY, WI (FHA|USDA|VA) 26 $4,150,000 $159,615 $5,883 5.89%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 15 $4,145,000 $276,333 $6,658 4.47%
Marquette, MI (FHA|USDA|VA) 26 $4,010,000 $154,231 $5,779 5.21%
BAY CITY, MI (FHA|USDA|VA) 42 $4,000,000 $95,238 $4,308 4.38%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 7 $3,925,000 $560,714 $11,503 4.09%
PORT ST. LUCIE, FL (FHA|USDA|VA) 13 $3,915,000 $301,154 $11,331 4.92%
RALEIGH-CARY, NC (FHA|USDA|VA) 14 $3,890,000 $277,857 $6,376 4.71%
Roswell, NM (FHA|USDA|VA) 20 $3,870,000 $193,500 $7,065 5.14%
JACKSONVILLE, FL (FHA|USDA|VA) 12 $3,680,000 $306,667 $9,242 4.96%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 14 $3,610,000 $257,857 $9,076 4.81%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 10 $3,510,000 $351,000 $6,910 4.60%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 14 $3,500,000 $250,000 $8,352 5.11%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 12 $3,460,000 $288,333 $8,750 4.56%
Clovis, NM (FHA|USDA|VA) 22 $3,380,000 $153,636 $5,868 4.27%
VALLEJO, CA (FHA|USDA|VA) 8 $3,330,000 $416,250 $10,479 5.53%
FARMINGTON, NM (FHA|USDA|VA) 19 $3,295,000 $173,421 $7,468 5.63%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 11 $3,275,000 $297,727 $10,628 4.98%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 21 $3,195,000 $152,143 $3,052 5.21%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 14 $3,080,000 $220,000 $9,853 5.26%
GREELEY, CO (FHA|USDA|VA) 10 $3,060,000 $306,000 $6,065 5.35%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 20 $3,040,000 $152,000 $5,215 4.19%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 10 $2,980,000 $298,000 $5,946 5.11%
ST. LOUIS, MO-IL (FHA|USDA|VA) 13 $2,935,000 $225,769 $5,044 5.13%
Traverse City, MI (FHA|USDA|VA) 10 $2,900,000 $290,000 $5,218 5.02%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 9 $2,865,000 $318,333 $7,958 4.03%
DAYTON-KETTERING, OH (FHA|USDA|VA) 11 $2,815,000 $255,909 $5,517 5.60%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 6 $2,600,000 $433,333 $11,153 5.42%
SALISBURY, MD-DE (FHA|USDA|VA) 10 $2,470,000 $247,000 $8,674 4.52%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 15 $2,405,000 $160,333 $6,005 4.98%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 9 $2,355,000 $261,667 $9,660 4.53%
JACKSON, MI (FHA|USDA|VA) 14 $2,330,000 $166,429 $4,889 5.36%
MONROE, MI (FHA|USDA|VA) 11 $2,155,000 $195,909 $6,071 5.83%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 11 $2,105,000 $191,364 $8,045 5.56%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 6 $2,050,000 $341,667 $8,918 5.06%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 6 $2,010,000 $335,000 $9,746 4.06%
PUNTA GORDA, FL (FHA|USDA|VA) 8 $2,010,000 $251,250 $9,425 5.22%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 7 $1,995,000 $285,000 $9,648 6.23%
TALLAHASSEE, FL (FHA|USDA|VA) 7 $1,935,000 $276,429 $11,960 5.18%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 9 $1,845,000 $205,000 $8,730 5.17%
AKRON, OH (FHA|USDA|VA) 8 $1,750,000 $218,750 $5,980 4.87%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 7 $1,745,000 $249,286 $5,626 4.74%
MONTGOMERY, AL (FHA|USDA|VA) 11 $1,675,000 $152,273 $5,273 5.42%
FRESNO, CA (FHA|USDA|VA) 5 $1,635,000 $327,000 $9,953 4.82%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 4 $1,580,000 $395,000 $9,368 4.56%
FORT WAYNE, IN (FHA|USDA|VA) 8 $1,550,000 $193,750 $5,708 5.00%
STATE COLLEGE, PA (FHA|USDA|VA) 7 $1,535,000 $219,286 $8,116 6.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 6 $1,500,000 $250,000 $9,508 4.35%
WILMINGTON, NC (FHA|USDA|VA) 4 $1,470,000 $367,500 $6,202 4.03%
Holland, MI (FHA|USDA|VA) 8 $1,430,000 $178,750 $6,010 4.08%
CHICO, CA (FHA|USDA|VA) 6 $1,350,000 $225,000 $3,812 4.73%
MUSKEGON, MI (FHA|USDA|VA) 9 $1,305,000 $145,000 $4,245 3.72%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 6 $1,290,000 $215,000 $7,243 5.38%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 5 $1,285,000 $257,000 $4,485 4.33%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 3 $1,275,000 $425,000 $10,933 4.75%
TOLEDO, OH (FHA|USDA|VA) 8 $1,270,000 $158,750 $6,232 4.70%
SAGINAW, MI (FHA|USDA|VA) 12 $1,260,000 $105,000 $3,533 4.87%
LAFAYETTE, LA (FHA|USDA|VA) 5 $1,245,000 $249,000 $8,108 5.23%
STOCKTON, CA (FHA|USDA|VA) 3 $1,245,000 $415,000 $4,858 4.83%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 4 $1,230,000 $307,500 $11,035 3.90%
SANTA FE, NM (FHA|USDA|VA) 2 $1,210,000 $605,000 $13,250 5.94%
FORT COLLINS, CO (FHA|USDA|VA) 3 $1,195,000 $398,333 $6,044 3.96%
ALBUQUERQUE, NM (FHA|USDA|VA) 5 $1,175,000 $235,000 $6,492 4.20%
VISALIA, CA (FHA|USDA|VA) 5 $1,135,000 $227,000 $8,423 4.90%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 3 $1,125,000 $375,000 $13,782 5.46%
SALINAS, CA (FHA|USDA|VA) 2 $1,120,000 $560,000 $16,708 5.62%
READING, PA (FHA|USDA|VA) 6 $1,110,000 $185,000 $8,897 4.93%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 3 $1,085,000 $361,667 $8,029 5.25%
FLAGSTAFF, AZ (FHA|USDA|VA) 2 $1,080,000 $540,000 $18,481 6.19%
PROVO-OREM, UT (FHA|USDA|VA) 3 $1,075,000 $358,333 $7,189 4.17%
Marinette, WI-MI (FHA|USDA|VA) 8 $1,050,000 $131,250 $6,178 5.20%
OCALA, FL (FHA|USDA|VA) 5 $1,045,000 $209,000 $10,848 5.50%
Adrian, MI (FHA|USDA|VA) 5 $1,045,000 $209,000 $6,588 4.95%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 4 $1,040,000 $260,000 $10,822 5.06%
YORK-HANOVER, PA (FHA|USDA|VA) 5 $1,005,000 $201,000 $9,240 6.33%
TYLER, TX (FHA|USDA|VA) 5 $1,005,000 $201,000 $6,928 5.95%
MIDLAND, MI (FHA|USDA|VA) 6 $1,000,000 $166,667 $6,417 5.58%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $930,000 $465,000 $12,448 5.25%
LOUISVILLE, KY (FHA|USDA|VA) 6 $910,000 $151,667 $4,909 3.94%
Big Rapids, MI (FHA|USDA|VA) 6 $880,000 $146,667 $7,392 4.43%
WICHITA FALLS, TX (FHA|USDA|VA) 4 $860,000 $215,000 $7,716 4.91%
GAINESVILLE, FL (FHA|USDA|VA) 4 $850,000 $212,500 $8,586 5.84%
BATTLE CREEK, MI (FHA|USDA|VA) 8 $850,000 $106,250 $3,860 3.87%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 2 $850,000 $425,000 $4,954 3.31%
Coldwater, MI (FHA|USDA|VA) 5 $835,000 $167,000 $6,334 6.12%
SHERMAN-DENISON, TX (FHA|USDA|VA) 2 $830,000 $415,000 $9,541 5.69%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 5 $825,000 $165,000 $7,816 4.70%
Salem, OH (FHA|USDA|VA) 3 $765,000 $255,000 $5,438 5.62%
Eureka-Arcata, CA (FHA|USDA|VA) 3 $745,000 $248,333 $4,229 4.41%
Auburn, IN (FHA|USDA|VA) 3 $725,000 $241,667 $7,903 5.79%
Greenwood, MS (FHA|USDA|VA) 6 $710,000 $118,333 $4,863 4.00%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 4 $700,000 $175,000 $6,568 5.09%
Sevierville, TN (FHA|USDA|VA) 4 $700,000 $175,000 $6,957 3.25%
ASHEVILLE, NC (FHA|USDA|VA) 3 $685,000 $228,333 $5,157 3.29%
KNOXVILLE, TN (FHA|USDA|VA) 3 $675,000 $225,000 $5,918 4.42%
GRAND JUNCTION, CO (FHA|USDA|VA) 3 $645,000 $215,000 $4,156 4.96%
PANAMA CITY, FL (FHA|USDA|VA) 2 $630,000 $315,000 $6,585 4.38%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 2 $630,000 $315,000 $6,599 5.13%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 3 $625,000 $208,333 $11,373 5.79%
YUBA CITY, CA (FHA|USDA|VA) 3 $625,000 $208,333 $9,410 5.13%
ABILENE, TX (FHA|USDA|VA) 3 $615,000 $205,000 $9,016 5.17%
YAKIMA, WA (FHA|USDA|VA) 2 $600,000 $300,000 $6,594 4.81%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 2 $600,000 $300,000 $2,340 3.94%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 3 $595,000 $198,333 $3,838 5.25%
Athens, TN (FHA|USDA|VA) 3 $595,000 $198,333 $7,307 5.66%
Edwards, CO (FHA|USDA|VA) 1 $575,000 $575,000 $5,406 5.99%
Lewisburg, TN (FHA|USDA|VA) 2 $570,000 $285,000 $10,858 4.63%
CORPUS CHRISTI, TX (FHA|USDA|VA) 2 $570,000 $285,000 $13,251 5.63%
MANSFIELD, OH (FHA|USDA|VA) 4 $570,000 $142,500 $6,539 5.62%
Albemarle, NC (FHA|USDA|VA) 3 $565,000 $188,333 $6,264 4.67%
Wilson, NC (FHA|USDA|VA) 3 $555,000 $185,000 $4,979 4.46%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $550,000 $275,000 $5,363 4.75%
Bedford, IN (FHA|USDA|VA) 2 $540,000 $270,000 $6,633 3.75%
BOULDER, CO (FHA|USDA|VA) 1 $535,000 $535,000 $8,808 5.88%
BOISE CITY, ID (FHA|USDA|VA) 2 $530,000 $265,000 $9,467 5.00%
COLUMBUS, GA-AL (FHA|USDA|VA) 3 $525,000 $175,000 $7,460 5.66%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 3 $525,000 $175,000 $5,238 3.83%
VICTORIA, TX (FHA|USDA|VA) 3 $515,000 $171,667 $7,580 4.50%
Key West, FL (FHA|USDA|VA) 2 $510,000 $255,000 $6,531 4.19%
Cadillac, MI (FHA|USDA|VA) 3 $505,000 $168,333 $4,521 4.17%
Angola, IN (FHA|USDA|VA) 2 $500,000 $250,000 $7,444 7.06%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $470,000 $235,000 $7,059 4.19%
COLUMBIA, SC (FHA|USDA|VA) 1 $465,000 $465,000 $6,152 5.75%
Payson, AZ (FHA|USDA|VA) 2 $460,000 $230,000 $3,925 5.25%
HINESVILLE, GA (FHA|USDA|VA) 2 $460,000 $230,000 $5,154 5.50%
Morehead City, NC (FHA|USDA|VA) 1 $455,000 $455,000 $7,492 2.50%
Wabash, IN (FHA|USDA|VA) 3 $455,000 $151,667 $3,818 5.37%
Escanaba, MI (FHA|USDA|VA) 3 $455,000 $151,667 $4,485 5.92%
RENO, NV (FHA|USDA|VA) 2 $450,000 $225,000 $5,282 4.00%
BEND, OR (FHA|USDA|VA) 1 $445,000 $445,000 $23,108 5.63%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 2 $440,000 $220,000 $11,936 4.13%
Kendallville, IN (FHA|USDA|VA) 2 $430,000 $215,000 $5,855 5.38%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $425,000 $425,000 $20,172 4.99%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 2 $420,000 $210,000 $5,597 4.13%
Huntington, IN (FHA|USDA|VA) 3 $415,000 $138,333 $6,250 6.33%
NAPA, CA (FHA|USDA|VA) 1 $415,000 $415,000 $9,108 2.99%
LUBBOCK, TX (FHA|USDA|VA) 2 $410,000 $205,000 $13,301 5.69%
Sonora, CA (FHA|USDA|VA) 2 $400,000 $200,000 $8,870 3.50%
Hobbs, NM (FHA|USDA|VA) 1 $395,000 $395,000 $14,526 6.00%
NILES, MI (FHA|USDA|VA) 2 $390,000 $195,000 $7,861 5.50%
Alpena, MI (FHA|USDA|VA) 3 $385,000 $128,333 $5,104 4.83%
GREENVILLE, NC (FHA|USDA|VA) 2 $380,000 $190,000 $11,026 4.81%
SPRINGFIELD, OH (FHA|USDA|VA) 1 $375,000 $375,000 $11,928 5.75%
Portales, NM (FHA|USDA|VA) 3 $375,000 $125,000 $5,942 4.75%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 2 $370,000 $185,000 $2,019 4.31%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $365,000 $365,000 $7,082 4.99%
MEDFORD, OR (FHA|USDA|VA) 1 $365,000 $365,000 $7,118 4.75%
Granbury, TX (FHA|USDA|VA) 1 $365,000 $365,000 $14,957 5.13%
LEBANON, PA (FHA|USDA|VA) 2 $360,000 $180,000 $6,502 6.25%
Pahrump, NV (FHA|USDA|VA) 2 $360,000 $180,000 $2,852 4.56%
Cañon City, CO (FHA|USDA|VA) 1 $355,000 $355,000 $7,373 4.13%
DuBois, PA (FHA|USDA|VA) 3 $355,000 $118,333 $5,916 4.46%
Alexander City, AL (FHA|USDA|VA) 1 $355,000 $355,000 $12,286 3.75%
COLUMBIA, MO (FHA|USDA|VA) 2 $350,000 $175,000 $4,933 4.31%
Cookeville, TN (FHA|USDA|VA) 2 $340,000 $170,000 $3,594 5.31%
Jasper, IN (FHA|USDA|VA) 2 $340,000 $170,000 $6,934 6.13%
Carlsbad-Artesia, NM (FHA|USDA|VA) 2 $340,000 $170,000 $6,670 4.56%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $335,000 $335,000 $3,136 7.63%
MERCED, CA (FHA|USDA|VA) 1 $335,000 $335,000 $7,446 3.38%
Fort Morgan, CO (FHA|USDA|VA) 1 $335,000 $335,000 $9,061 4.99%
APPLETON, WI (FHA|USDA|VA) 2 $330,000 $165,000 $8,092 5.38%
Warsaw, IN (FHA|USDA|VA) 2 $330,000 $165,000 $2,980 5.50%
Oak Harbor, WA (FHA|USDA|VA) 1 $325,000 $325,000 $6,998 4.13%
Roseburg, OR (FHA|USDA|VA) 1 $325,000 $325,000 $8,621 6.50%
PUEBLO, CO (FHA|USDA|VA) 2 $320,000 $160,000 $7,125 5.37%
CLEVELAND, TN (FHA|USDA|VA) 2 $320,000 $160,000 $6,802 6.75%
Tullahoma-Manchester, TN (FHA|USDA|VA) 2 $320,000 $160,000 $4,424 5.25%
Moses Lake, WA (FHA|USDA|VA) 1 $315,000 $315,000 $18,385 7.13%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $305,000 $305,000 $16,474 5.63%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $305,000 $305,000 $16,483 5.00%
Shawano, WI (FHA|USDA|VA) 2 $300,000 $150,000 $7,956 4.88%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $295,000 $295,000 $14,549 7.13%
Houghton, MI (FHA|USDA|VA) 2 $290,000 $145,000 $6,388 5.75%
Palatka, FL (FHA|USDA|VA) 1 $285,000 $285,000 $15,711 5.13%
WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $285,000 $285,000 $6,802 6.25%
Lewistown, PA (FHA|USDA|VA) 2 $280,000 $140,000 $8,190 3.19%
Pottsville, PA (FHA|USDA|VA) 2 $280,000 $140,000 $8,320 4.88%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $275,000 $275,000 $3,609 5.38%
Newberry, SC (FHA|USDA|VA) 1 $275,000 $275,000 $6,233 3.50%
DULUTH, MN-WI (FHA|USDA|VA) 1 $275,000 $275,000 $8,956 5.25%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 2 $270,000 $135,000 $5,882 4.13%
TERRE HAUTE, IN (FHA|USDA|VA) 2 $260,000 $130,000 $4,415 5.25%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $255,000 $255,000 $13,218 6.50%
CARBONDALE-MARION, IL (FHA|USDA|VA) 2 $250,000 $125,000 $3,891 5.50%
WINSTON-SALEM, NC (FHA|USDA|VA) 2 $250,000 $125,000 $4,942 5.25%
MADISON, WI (FHA|USDA|VA) 1 $245,000 $245,000 $9,625 5.63%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $245,000 $245,000 $6,713 3.99%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $245,000 $245,000 $8,318 5.13%
Cullman, AL (FHA|USDA|VA) 2 $240,000 $120,000 $4,962 3.31%
Jacksonville, TX (FHA|USDA|VA) 1 $235,000 $235,000 $5,037 3.63%
SALEM, OR (FHA|USDA|VA) 1 $235,000 $235,000 $5,357 6.99%
MODESTO, CA (FHA|USDA|VA) 1 $225,000 $225,000 $3,603 3.38%
Athens, TX (FHA|USDA|VA) 2 $220,000 $110,000 $7,564 7.50%
CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $215,000 $215,000 $4,024 5.75%
ERIE, PA (FHA|USDA|VA) 1 $215,000 $215,000 $9,123 3.38%
Marietta, OH (FHA|USDA|VA) 2 $210,000 $105,000 $3,159 4.56%
Bellefontaine, OH (FHA|USDA|VA) 1 $205,000 $205,000 $10,471 5.38%
HOT SPRINGS, AR (FHA|USDA|VA) 2 $200,000 $100,000 $5,017 3.19%
LONGVIEW, TX (FHA|USDA|VA) 2 $200,000 $100,000 $4,459 5.31%
Beaver Dam, WI (FHA|USDA|VA) 1 $195,000 $195,000 $6,641 5.63%
Easton, MD (FHA|USDA|VA) 1 $195,000 $195,000 $9,311 5.13%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $195,000 $195,000 $5,400 3.38%
TWIN FALLS, ID (FHA|USDA|VA) 1 $195,000 $195,000 $6,071 4.99%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $195,000 $195,000 $3,600 6.38%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $185,000 $185,000 $7,402 3.99%
LaGrange, GA-AL (FHA|USDA|VA) 1 $185,000 $185,000 $10,026 3.75%
Centralia, WA (FHA|USDA|VA) 1 $185,000 $185,000 $6,204 3.63%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $185,000 $185,000 $10,693 5.63%
Mount Pleasant, MI (FHA|USDA|VA) 1 $185,000 $185,000 $9,366 5.13%
MOBILE, AL (FHA|USDA|VA) 1 $175,000 $175,000 $3,309 4.38%
Farmington, MO (FHA|USDA|VA) 1 $175,000 $175,000 $2,997 4.99%
Plymouth, IN (FHA|USDA|VA) 1 $175,000 $175,000 $6,174 6.25%
Orangeburg, SC (FHA|USDA|VA) 1 $175,000 $175,000 $7,039 5.13%
Somerset, KY (FHA|USDA|VA) 1 $175,000 $175,000 $3,164 3.50%
ALTOONA, PA (FHA|USDA|VA) 2 $170,000 $85,000 $5,245 4.69%
Clewiston, FL (FHA|USDA|VA) 1 $165,000 $165,000 $10,330 4.13%
Crossville, TN (FHA|USDA|VA) 1 $165,000 $165,000 $3,116 4.25%
Bluffton, IN (FHA|USDA|VA) 1 $165,000 $165,000 $5,002 3.50%
North Wilkesboro, NC (FHA|USDA|VA) 1 $165,000 $165,000 $3,866 5.63%
Mount Vernon, OH (FHA|USDA|VA) 1 $165,000 $165,000 $3,203 4.75%
CHARLESTON, WV (FHA|USDA|VA) 1 $155,000 $155,000 $8,108 7.13%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $155,000 $155,000 $5,765 4.13%
Scottsburg, IN (FHA|USDA|VA) 1 $155,000 $155,000 $4,866 4.13%
Georgetown, SC (FHA|USDA|VA) 1 $155,000 $155,000 $3,010 3.63%
TEXARKANA, TX-AR (FHA|USDA|VA) 1 $155,000 $155,000 $7,004 6.00%
Aberdeen, WA (FHA|USDA|VA) 1 $155,000 $155,000 $8,926 5.25%
Kinston, NC (FHA|USDA|VA) 1 $155,000 $155,000 $2,993 5.38%
Hillsdale, MI (FHA|USDA|VA) 1 $155,000 $155,000 $6,107 5.88%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $155,000 $155,000 $4,592 3.75%
Arcadia, FL (FHA|USDA|VA) 1 $145,000 $145,000 $3,662 6.25%
Alma, MI (FHA|USDA|VA) 1 $145,000 $145,000 $3,652 7.50%
Lock Haven, PA (FHA|USDA|VA) 1 $145,000 $145,000 $6,478 6.75%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $145,000 $145,000 $7,206 4.63%
THE VILLAGES, FL (FHA|USDA|VA) 1 $145,000 $145,000 $9,622 4.50%
Van Wert, OH (FHA|USDA|VA) 1 $135,000 $135,000 $3,267 5.38%
ST. CLOUD, MN (FHA|USDA|VA) 1 $135,000 $135,000 $2,257 4.99%
Marion, IN (FHA|USDA|VA) 1 $135,000 $135,000 $1,954 7.25%
GADSDEN, AL (FHA|USDA|VA) 1 $135,000 $135,000 $4,407 3.88%
Cedartown, GA (FHA|USDA|VA) 1 $135,000 $135,000 $7,770 7.00%
Red Bluff, CA (FHA|USDA|VA) 1 $135,000 $135,000 $2,616 5.38%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $135,000 $135,000 $1,655 6.63%
Greeneville, TN (FHA|USDA|VA) 1 $125,000 $125,000 $2,997 3.38%
New Castle, PA (FHA|USDA|VA) 1 $125,000 $125,000 $2,541 4.63%
DECATUR, AL (FHA|USDA|VA) 1 $125,000 $125,000 $2,884 3.38%
Ardmore, OK (FHA|USDA|VA) 1 $125,000 $125,000 $4,790 6.50%
Coshocton, OH (FHA|USDA|VA) 1 $125,000 $125,000 $5,055 5.50%
Jasper, AL (FHA|USDA|VA) 1 $125,000 $125,000 $3,807 3.50%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $125,000 $125,000 $5,816 6.50%
Richmond-Berea, KY (FHA|USDA|VA) 1 $115,000 $115,000 $2,644 3.63%
Opelousas, LA (FHA|USDA|VA) 1 $115,000 $115,000 $6,048 6.75%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $115,000 $115,000 $4,623 3.50%
Palestine, TX (FHA|USDA|VA) 2 $110,000 $55,000 $3,394 3.56%
Selma, AL (FHA|USDA|VA) 1 $105,000 $105,000 $5,013 7.13%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $105,000 $105,000 $6,021 3.25%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $105,000 $105,000 $5,538 6.88%
Lake City, FL (FHA|USDA|VA) 1 $105,000 $105,000 $8,705 5.13%
Indiana, PA (FHA|USDA|VA) 1 $105,000 $105,000 $6,841 4.50%
Shelbyville, TN (FHA|USDA|VA) 1 $105,000 $105,000 $3,498 4.13%
SAVANNAH, GA (FHA|USDA|VA) 1 $95,000 $95,000 $6,889 5.99%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $95,000 $95,000 $3,947 5.63%
MORRISTOWN, TN (FHA|USDA|VA) 1 $95,000 $95,000 $3,995 6.13%
SUMTER, SC (FHA|USDA|VA) 1 $95,000 $95,000 $2,153 4.00%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $95,000 $95,000 $3,831 5.25%
Danville, VA (FHA|USDA|VA) 1 $95,000 $95,000 $3,676 4.25%
BLOOMINGTON, IL (FHA|USDA|VA) 1 $85,000 $85,000 $3,494 4.63%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $85,000 $85,000 $5,852 3.38%
Point Pleasant, WV-OH (FHA|USDA|VA) 1 $75,000 $75,000 $7,274 7.13%
MUNCIE, IN (FHA|USDA|VA) 1 $55,000 $55,000 $4,241 4.63%
Tiffin, OH (FHA|USDA|VA) 1 $55,000 $55,000 $4,722 3.75%
Michigan Mutual's top markets include Detroit, Tampa, Los Angeles, Riverside, and Phoenix among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,230 $826,020,000 $255,734 $6,184 4.79%
    FHA 799 $190,735,000 $238,717 $10,619 5.02%
    VA 132 $41,110,000 $311,439 $9,665 5.00%
    USDA 52 $9,300,000 $178,846 $7,085 4.81%

    For 2022, Michigan Mutual's most frequently originated type of loan was Conventional, with 3,230 originations. Their 2nd most popular type was FHA, with 799 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,902 $735,770,000 $253,539 $7,327 5.05%
    Cash Out Refi 925 $230,795,000 $249,508 $6,705 4.48%
    Refi 386 $100,600,000 $260,622 $6,835 4.19%

    For 2022, Michigan Mutual's most frequently cited loan purpose was Home Purchase, with 2,902 originations. The 2nd most popular reason was Cash Out Refi, with 925 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,939 $1,006,345,000 $255,482 $7,272 4.92%
    15 Year 220 $50,220,000 $228,273 $5,385 3.59%
    20 Year 32 $7,070,000 $220,938 $5,483 4.31%
    10 Year 12 $1,700,000 $141,667 $3,207 4.96%
    Other 7 $1,815,000 $259,286 $8,609 4.11%
    3 Year 3 $15,000 $5,000 $0 0.00%

    For 2022, Michigan Mutual's most frequently cited loan duration was 30 Year, with 3,939 originations. The 2nd most popular length was 15 Year, with 220 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 1,120 $397,900,000 $355,268
    $1k-2k 841 $191,945,000 $228,234
    $<1k 660 $126,830,000 $192,167
    $2k-3k 612 $124,870,000 $204,036
    $3k-4k 528 $117,210,000 $221,989
    $4k-5k 452 $108,410,000 $239,845

    Michigan Mutual's average total fees were $7,272, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1,120 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 1,186 $298,050,000 $251,307
    4-5% 995 $266,395,000 $267,734
    3-4% 963 $257,025,000 $266,900
    6-7% 599 $145,205,000 $242,412
    7-8% 168 $39,590,000 $235,655
    2.5-3% 165 $48,965,000 $296,758
    <2.5% 134 $11,890,000 $88,731
    Over 8% 3 $45,000 $15,000

    During 2022, Michigan Mutual's average interest rate for loans was 4.92%, while their most frequently originated rate bucket for loans was 5-6%, with 1,186 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,672 $475,420,000 $284,342 $8,209 4.92%
    $100k-200k 1,473 $224,625,000 $152,495 $5,400 5.01%
    $400k-600k 497 $236,295,000 $475,443 $10,191 4.74%
    $100,000 or less 426 $26,080,000 $61,221 $3,030 4.06%
    $600k-1MM 133 $89,285,000 $671,316 $12,947 4.95%
    $1MM+ 12 $15,460,000 $1,288,333 $28,835 4.47%

    2022 saw Michigan Mutual place emphasis on $200k-400k loans with 1,672 originations, totaling $475,420,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,076 $210,650,000 $195,771 $6,472 4.78%
    $100k-150k 859 $269,525,000 $313,766 $8,151 4.94%
    $75k-100k 801 $201,525,000 $251,592 $7,608 4.93%
    $50k or less 766 $101,840,000 $132,950 $5,002 4.67%
    $150k-250k 513 $190,775,000 $371,881 $8,273 4.94%
    $250k+ 176 $87,940,000 $499,659 $10,661 4.86%

    Michigan Mutual lent most frequently to those with incomes in the $50k-75k range, with 1,076 originations. The second most popular income band? $100k-150k, with 859 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 695 $168,705,000 $242,741 $6,592 4.75%
    20-30% 587 $131,795,000 $224,523 $5,917 4.72%
    50-60% 262 $75,310,000 $287,443 $11,586 4.84%
    44% 248 $66,430,000 $267,863 $7,281 4.80%
    43% 213 $53,995,000 $253,498 $7,157 4.92%
    41% 207 $53,135,000 $256,691 $6,889 4.79%
    40% 196 $48,100,000 $245,408 $6,563 4.66%
    49% 187 $51,135,000 $273,449 $7,847 5.19%
    42% 183 $48,425,000 $264,617 $7,136 4.92%
    39% 180 $47,170,000 $262,056 $6,895 5.06%
    <20% 175 $40,345,000 $230,543 $5,183 4.57%
    48% 169 $46,505,000 $275,178 $7,789 5.05%
    45% 168 $43,200,000 $257,143 $7,867 5.05%
    37% 151 $37,005,000 $245,066 $6,542 4.67%
    36% 151 $37,235,000 $246,589 $6,717 4.64%
    46% 147 $39,115,000 $266,088 $8,023 5.18%
    38% 145 $37,745,000 $260,310 $6,927 4.98%
    47% 132 $37,920,000 $287,273 $8,487 5.16%
    >60% 4 $1,360,000 $340,000 $8,570 5.75%

    Michigan Mutual lent most frequently to those with DTI ratios of 30-36%, with 695 originations. The next most common DTI ratio? 20-30%, with 587 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,855 $701,785,000 $245,809 $6,790 4.83%
    Not provided 946 $251,350,000 $265,698 $7,700 4.93%
    Black 245 $61,875,000 $252,551 $8,818 4.81%
    Asian 139 $44,795,000 $322,266 $7,774 4.58%
    American Indian 16 $4,380,000 $273,750 $7,614 5.19%
    Asian Indian 6 $1,630,000 $271,667 $7,343 5.43%
    Native Hawaiian or Islander 3 $685,000 $228,333 $5,009 5.54%
    Chinese 2 $550,000 $275,000 $4,757 3.38%
    Filipino 1 $115,000 $115,000 $2,653 3.88%

    Approval Rates

    Total approvals of all applications
    93.33%

    Michigan Mutual has an average approval rate.

    Pick Rate

    Approvals leading to origination
    51.93%

    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 4,213 $1,067,165,000 $253,303

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,213 $1,067,165,000 $253,303

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 150 $28,400,000 $189,333 $5,198 4.56%
    40-60% 481 $113,915,000 $236,830 $5,866 4.49%
    60-80% 1,279 $350,525,000 $274,062 $7,065 4.82%
    80-100% 2,111 $550,645,000 $260,846 $7,830 5.17%
    Over 100% 54 $16,690,000 $309,074 $14,440 4.96%
    Under 20% 123 $3,875,000 $31,504 $649 1.22%