Michigan Mutual Mortgage Rates, Fees & Info

PORT HURON, MI

LEI: 549300TK6RZQSFXZHV09

Tax ID: 38-3092473

5 stars - Updated: 7/14/24 - out of 5 stars, based on 61 reviews

Latest/2023 | 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, Tampa, Dallas, Phoenix, and Miami among others. We have data for 310 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 a high 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 relatively high 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% 7/14/24
30 Year Conventional Purchase 6.90% 7/14/24
30 Year Conventional Refi 6.65% 7/14/24
30 Year Cash-out Refi 6.71% 7/14/24
30 Year FHA Purchase 7.60% 7/14/24
30 Year FHA Refi 7.50% 7/14/24
30 Year VA Purchase 6.69% 7/14/24
30 Year VA Refi 6.53% 7/14/24
30 Year USDA Purchase 7.01% 7/14/24
30 Year USDA Refi 6.73% 7/14/24
15 Year Conventional Purchase 6.16% 7/14/24
15 Year Conventional Refi 6.07% 7/14/24
15 Year Cash-out Refi 6.07% 7/14/24
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

3,671

Origination Dollar Volume (All Markets)

$923,455,000
Show all (12) awards

Relative Rate

Michigan Mutual's average 30 year fixed mortgage rate was 6.37%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.11%.

Relative Fees (Closing Costs)

Michigan Mutual's average total fees/closing costs for a 30 year fixed rate mortgage were $8,919.

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 $9,089.

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) 769 $149,805,000 $194,805 $5,975 6.19%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 130 $41,000,000 $315,385 $11,920 6.63%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 99 $32,805,000 $331,364 $12,037 6.67%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 102 $31,850,000 $312,255 $9,496 7.04%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 84 $28,490,000 $339,167 $13,528 6.51%
Outside of Metro Areas 137 $24,825,000 $181,204 $6,804 6.25%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 49 $22,325,000 $455,612 $13,684 6.44%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 87 $21,775,000 $250,287 $9,455 6.98%
BAKERSFIELD, CA (FHA|USDA|VA) 70 $21,720,000 $310,286 $11,420 6.66%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 62 $18,480,000 $298,065 $11,285 6.03%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 51 $17,035,000 $334,020 $14,582 6.32%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 52 $16,600,000 $319,231 $12,340 6.37%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 61 $16,215,000 $265,820 $10,953 6.38%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 31 $15,825,000 $510,484 $16,897 6.32%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 41 $14,755,000 $359,878 $14,337 5.75%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 30 $12,350,000 $411,667 $10,891 6.42%
PITTSBURGH, PA (FHA|USDA|VA) 57 $12,025,000 $210,965 $7,295 6.64%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 51 $12,025,000 $235,784 $9,844 6.36%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 57 $11,755,000 $206,228 $5,561 5.91%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 27 $10,715,000 $396,852 $11,471 6.31%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 18 $9,450,000 $525,000 $8,345 7.01%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 69 $9,385,000 $136,014 $5,019 5.87%
JACKSONVILLE, FL (FHA|USDA|VA) 27 $9,345,000 $346,111 $11,627 6.45%
COLORADO SPRINGS, CO (FHA|USDA|VA) 23 $8,615,000 $374,565 $9,141 6.71%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 25 $8,545,000 $341,800 $12,158 6.64%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 28 $7,970,000 $284,643 $7,253 6.52%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 18 $7,810,000 $433,889 $13,142 5.85%
RALEIGH-CARY, NC (FHA|USDA|VA) 20 $6,500,000 $325,000 $11,602 5.69%
LUBBOCK, TX (FHA|USDA|VA) 35 $6,425,000 $183,571 $12,196 6.36%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 22 $6,310,000 $286,818 $10,183 6.41%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 20 $5,960,000 $298,000 $11,200 6.35%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 21 $5,955,000 $283,571 $11,291 6.20%
FLINT, MI (FHA|USDA|VA) 34 $5,920,000 $174,118 $6,248 6.22%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 19 $5,735,000 $301,842 $8,864 6.18%
GOLDSBORO, NC (FHA|USDA|VA) 25 $5,635,000 $225,400 $7,385 6.50%
ANN ARBOR, MI (FHA|USDA|VA) 20 $5,520,000 $276,000 $8,204 6.75%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 37 $5,355,000 $144,730 $4,569 5.15%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 18 $5,220,000 $290,000 $11,061 6.64%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 27 $5,165,000 $191,296 $7,848 6.71%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 19 $5,125,000 $269,737 $13,121 6.17%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 10 $4,970,000 $497,000 $13,906 6.51%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 15 $4,655,000 $310,333 $10,145 7.12%
PUNTA GORDA, FL (FHA|USDA|VA) 14 $4,640,000 $331,429 $12,729 6.46%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 13 $4,505,000 $346,538 $16,200 5.93%
RICHMOND, VA (FHA|USDA|VA) 16 $4,390,000 $274,375 $12,537 5.77%
GREEN BAY, WI (FHA|USDA|VA) 23 $4,245,000 $184,565 $5,644 7.35%
TUCSON, AZ (FHA|USDA|VA) 15 $4,105,000 $273,667 $7,906 6.62%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 13 $3,845,000 $295,769 $8,909 6.57%
STATE COLLEGE, PA (FHA|USDA|VA) 13 $3,775,000 $290,385 $7,866 6.13%
Marquette, MI (FHA|USDA|VA) 18 $3,520,000 $195,556 $7,137 7.03%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 12 $3,490,000 $290,833 $7,301 6.10%
BAY CITY, MI (FHA|USDA|VA) 33 $3,475,000 $105,303 $3,984 4.44%
FAYETTEVILLE, NC (FHA|USDA|VA) 12 $3,410,000 $284,167 $8,730 5.77%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 24 $3,360,000 $140,000 $3,189 6.52%
PORT ST. LUCIE, FL (FHA|USDA|VA) 10 $3,340,000 $334,000 $11,605 6.19%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 10 $3,230,000 $323,000 $15,006 6.20%
Traverse City, MI (FHA|USDA|VA) 11 $3,155,000 $286,818 $8,465 7.04%
TULSA, OK (FHA|USDA|VA) 9 $3,025,000 $336,111 $13,653 7.53%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 14 $2,900,000 $207,143 $8,737 6.54%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 11 $2,885,000 $262,273 $10,018 6.45%
FORT WAYNE, IN (FHA|USDA|VA) 15 $2,805,000 $187,000 $5,671 7.09%
ST. LOUIS, MO-IL (FHA|USDA|VA) 13 $2,765,000 $212,692 $7,573 6.56%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 6 $2,710,000 $451,667 $11,058 6.48%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 10 $2,670,000 $267,000 $9,994 5.91%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 6 $2,650,000 $441,667 $3,539 7.83%
YORK-HANOVER, PA (FHA|USDA|VA) 12 $2,640,000 $220,000 $9,966 6.50%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 13 $2,625,000 $201,923 $6,445 7.07%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 9 $2,575,000 $286,111 $11,915 5.18%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 12 $2,420,000 $201,667 $9,902 6.12%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 13 $2,375,000 $182,692 $9,543 5.73%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 12 $2,370,000 $197,500 $8,869 6.44%
VALLEJO, CA (FHA|USDA|VA) 4 $2,350,000 $587,500 $18,041 6.15%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 5 $2,325,000 $465,000 $11,569 5.75%
COLUMBIA, SC (FHA|USDA|VA) 9 $2,285,000 $253,889 $9,875 5.58%
ASHEVILLE, NC (FHA|USDA|VA) 7 $2,225,000 $317,857 $15,081 5.77%
TALLAHASSEE, FL (FHA|USDA|VA) 6 $2,190,000 $365,000 $14,613 6.85%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 6 $2,170,000 $361,667 $16,997 5.31%
TOLEDO, OH (FHA|USDA|VA) 12 $2,170,000 $180,833 $6,397 7.21%
COLUMBUS, OH (FHA|USDA|VA) 7 $2,115,000 $302,143 $9,754 6.98%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 5 $2,035,000 $407,000 $15,806 6.93%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 13 $1,995,000 $153,462 $6,810 6.96%
MIDLAND, TX (FHA|USDA|VA) 7 $1,975,000 $282,143 $14,775 6.16%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 7 $1,965,000 $280,714 $14,535 5.57%
FARMINGTON, NM (FHA|USDA|VA) 10 $1,930,000 $193,000 $6,150 7.33%
Holland, MI (FHA|USDA|VA) 9 $1,865,000 $207,222 $9,346 5.12%
SPARTANBURG, SC (FHA|USDA|VA) 7 $1,855,000 $265,000 $13,523 5.23%
MUSKEGON, MI (FHA|USDA|VA) 15 $1,835,000 $122,333 $4,390 4.81%
Roswell, NM (FHA|USDA|VA) 11 $1,835,000 $166,818 $5,729 6.86%
WINSTON-SALEM, NC (FHA|USDA|VA) 10 $1,760,000 $176,000 $6,194 6.07%
SAGINAW, MI (FHA|USDA|VA) 21 $1,755,000 $83,571 $4,111 4.76%
OCALA, FL (FHA|USDA|VA) 9 $1,755,000 $195,000 $10,212 6.03%
JOPLIN, MO (FHA|USDA|VA) 8 $1,700,000 $212,500 $10,200 6.33%
PANAMA CITY, FL (FHA|USDA|VA) 7 $1,625,000 $232,143 $11,598 6.00%
MIDLAND, MI (FHA|USDA|VA) 12 $1,590,000 $132,500 $5,818 5.78%
KNOXVILLE, TN (FHA|USDA|VA) 6 $1,590,000 $265,000 $8,675 6.69%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 9 $1,575,000 $175,000 $6,987 7.17%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 7 $1,545,000 $220,714 $8,339 6.88%
FRESNO, CA (FHA|USDA|VA) 5 $1,495,000 $299,000 $13,787 6.12%
SALISBURY, MD-DE (FHA|USDA|VA) 5 $1,495,000 $299,000 $9,020 6.97%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 8 $1,450,000 $181,250 $12,744 5.17%
Salem, OH (FHA|USDA|VA) 7 $1,425,000 $203,571 $7,397 7.39%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 5 $1,405,000 $281,000 $12,267 7.30%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 5 $1,375,000 $275,000 $11,154 6.87%
LAS CRUCES, NM (FHA|USDA|VA) 6 $1,370,000 $228,333 $6,963 7.25%
AKRON, OH (FHA|USDA|VA) 6 $1,370,000 $228,333 $8,220 6.87%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 4 $1,340,000 $335,000 $18,468 5.28%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 3 $1,305,000 $435,000 $8,903 7.46%
ALBUQUERQUE, NM (FHA|USDA|VA) 6 $1,290,000 $215,000 $9,264 7.48%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $1,280,000 $640,000 $16,764 7.44%
JACKSON, MI (FHA|USDA|VA) 5 $1,275,000 $255,000 $9,065 7.17%
WACO, TX (FHA|USDA|VA) 5 $1,275,000 $255,000 $7,022 6.78%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 3 $1,245,000 $415,000 $5,674 6.50%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 3 $1,245,000 $415,000 $16,102 5.67%
SALINAS, CA (FHA|USDA|VA) 2 $1,180,000 $590,000 $19,514 6.06%
MONROE, MI (FHA|USDA|VA) 7 $1,155,000 $165,000 $6,255 6.18%
OKLAHOMA CITY, OK (FHA|USDA|VA) 7 $1,025,000 $146,429 $5,167 7.18%
Kinston, NC (FHA|USDA|VA) 7 $1,025,000 $146,429 $5,288 6.50%
ABILENE, TX (FHA|USDA|VA) 4 $1,020,000 $255,000 $7,776 6.56%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 4 $1,020,000 $255,000 $9,090 7.00%
NAPA, CA (FHA|USDA|VA) 1 $1,015,000 $1,015,000 $11,128 7.50%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 6 $1,010,000 $168,333 $9,495 7.02%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 5 $975,000 $195,000 $12,310 6.45%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 4 $970,000 $242,500 $11,527 7.03%
EL PASO, TX (FHA|USDA|VA) 5 $965,000 $193,000 $5,749 6.52%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 3 $945,000 $315,000 $7,372 6.21%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 5 $945,000 $189,000 $10,423 5.80%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 4 $940,000 $235,000 $9,053 6.06%
GREENVILLE, NC (FHA|USDA|VA) 4 $940,000 $235,000 $7,422 5.87%
BURLINGTON, NC (FHA|USDA|VA) 3 $905,000 $301,667 $11,379 6.04%
JACKSONVILLE, NC (FHA|USDA|VA) 5 $895,000 $179,000 $6,332 6.15%
Show Low, AZ (FHA|USDA|VA) 3 $875,000 $291,667 $8,099 7.29%
ERIE, PA (FHA|USDA|VA) 6 $870,000 $145,000 $5,287 6.88%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 4 $860,000 $215,000 $6,505 6.97%
Auburn, IN (FHA|USDA|VA) 5 $855,000 $171,000 $7,665 7.45%
GAINESVILLE, FL (FHA|USDA|VA) 4 $840,000 $210,000 $10,282 6.96%
WILMINGTON, NC (FHA|USDA|VA) 4 $840,000 $210,000 $9,280 6.16%
VISALIA, CA (FHA|USDA|VA) 3 $815,000 $271,667 $11,411 6.70%
Sevierville, TN (FHA|USDA|VA) 3 $815,000 $271,667 $8,214 7.62%
Huntington, IN (FHA|USDA|VA) 4 $800,000 $200,000 $5,383 7.41%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 4 $790,000 $197,500 $5,943 7.66%
JOHNSTOWN, PA (FHA|USDA|VA) 6 $780,000 $130,000 $6,612 7.06%
GREELEY, CO (FHA|USDA|VA) 3 $765,000 $255,000 $5,136 6.71%
Shelton, WA (FHA|USDA|VA) 3 $755,000 $251,667 $11,693 6.21%
Marinette, WI-MI (FHA|USDA|VA) 4 $740,000 $185,000 $5,659 6.59%
FORT COLLINS, CO (FHA|USDA|VA) 2 $740,000 $370,000 $15,199 5.31%
Kendallville, IN (FHA|USDA|VA) 3 $735,000 $245,000 $6,768 6.79%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $725,000 $725,000 $9,265 6.25%
Warsaw, IN (FHA|USDA|VA) 3 $725,000 $241,667 $4,792 7.50%
BOULDER, CO (FHA|USDA|VA) 2 $700,000 $350,000 $10,691 5.94%
BLOOMINGTON, IN (FHA|USDA|VA) 2 $700,000 $350,000 $7,972 6.50%
FLAGSTAFF, AZ (FHA|USDA|VA) 2 $700,000 $350,000 $11,029 7.50%
READING, PA (FHA|USDA|VA) 5 $695,000 $139,000 $8,630 6.27%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 2 $690,000 $345,000 $14,454 6.06%
Boone, NC (FHA|USDA|VA) 3 $675,000 $225,000 $10,146 5.17%
MODESTO, CA (FHA|USDA|VA) 3 $635,000 $211,667 $9,202 6.08%
Greenwood, MS (FHA|USDA|VA) 5 $635,000 $127,000 $5,901 6.78%
EAST STROUDSBURG, PA (FHA|USDA|VA) 3 $635,000 $211,667 $11,391 6.17%
Pottsville, PA (FHA|USDA|VA) 3 $635,000 $211,667 $9,666 7.75%
SHERMAN-DENISON, TX (FHA|USDA|VA) 2 $610,000 $305,000 $7,553 6.50%
Athens, TN (FHA|USDA|VA) 3 $605,000 $201,667 $7,258 6.33%
Taos, NM (FHA|USDA|VA) 1 $595,000 $595,000 $13,167 8.13%
BATTLE CREEK, MI (FHA|USDA|VA) 5 $585,000 $117,000 $4,232 5.35%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $580,000 $290,000 $10,274 5.50%
Breckenridge, CO (FHA|USDA|VA) 1 $565,000 $565,000 $8,706 5.99%
NILES, MI (FHA|USDA|VA) 3 $565,000 $188,333 $9,519 6.25%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 3 $555,000 $185,000 $8,692 6.46%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $550,000 $275,000 $12,072 6.13%
Outside of Metro Areas 1 $535,000 $535,000 $888 6.63%
Rockport, TX (FHA|USDA|VA) 2 $530,000 $265,000 $14,092 6.44%
Okeechobee, FL (FHA|USDA|VA) 2 $520,000 $260,000 $15,858 7.06%
YAKIMA, WA (FHA|USDA|VA) 2 $510,000 $255,000 $11,331 5.94%
Mount Pleasant, MI (FHA|USDA|VA) 2 $510,000 $255,000 $13,947 7.13%
LANCASTER, PA (FHA|USDA|VA) 2 $500,000 $250,000 $6,773 6.56%
PUEBLO, CO (FHA|USDA|VA) 2 $500,000 $250,000 $9,689 6.31%
Moses Lake, WA (FHA|USDA|VA) 1 $495,000 $495,000 $8,225 5.99%
THE VILLAGES, FL (FHA|USDA|VA) 3 $495,000 $165,000 $8,407 7.17%
Shelby, NC (FHA|USDA|VA) 2 $490,000 $245,000 $12,331 5.68%
Adrian, MI (FHA|USDA|VA) 3 $485,000 $161,667 $5,942 7.04%
Mount Vernon, OH (FHA|USDA|VA) 2 $480,000 $240,000 $9,937 7.13%
Key West, FL (FHA|USDA|VA) 1 $475,000 $475,000 $7,554 6.50%
Sturgis, MI (FHA|USDA|VA) 5 $475,000 $95,000 $2,653 3.78%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 3 $465,000 $155,000 $2,920 6.67%
APPLETON, WI (FHA|USDA|VA) 3 $465,000 $155,000 $5,655 7.29%
VALDOSTA, GA (FHA|USDA|VA) 2 $460,000 $230,000 $4,466 7.38%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 2 $450,000 $225,000 $11,121 6.94%
Angola, IN (FHA|USDA|VA) 2 $450,000 $225,000 $10,292 7.75%
MADISON, WI (FHA|USDA|VA) 1 $415,000 $415,000 $12,949 5.88%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 2 $410,000 $205,000 $6,041 7.50%
ODESSA, TX (FHA|USDA|VA) 2 $400,000 $200,000 $11,281 5.94%
LONGVIEW, TX (FHA|USDA|VA) 1 $395,000 $395,000 $11,472 7.63%
CHICO, CA (FHA|USDA|VA) 1 $395,000 $395,000 $3,834 6.99%
Ashtabula, OH (FHA|USDA|VA) 2 $390,000 $195,000 $5,668 7.50%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $375,000 $375,000 $9,120 5.63%
MORRISTOWN, TN (FHA|USDA|VA) 1 $375,000 $375,000 $13,538 6.99%
Milledgeville, GA (FHA|USDA|VA) 1 $375,000 $375,000 $17,001 8.13%
New Castle, PA (FHA|USDA|VA) 3 $375,000 $125,000 $7,601 6.63%
NEW BERN, NC (FHA|USDA|VA) 1 $365,000 $365,000 $18,317 6.13%
Frankfort, IN (FHA|USDA|VA) 1 $355,000 $355,000 $10,855 7.00%
STOCKTON, CA (FHA|USDA|VA) 2 $350,000 $175,000 $6,287 6.19%
IDAHO FALLS, ID (FHA|USDA|VA) 1 $345,000 $345,000 $8,368 6.75%
Somerset, PA (FHA|USDA|VA) 2 $340,000 $170,000 $6,275 7.56%
Sanford, NC (FHA|USDA|VA) 1 $335,000 $335,000 $14,935 7.63%
YUBA CITY, CA (FHA|USDA|VA) 1 $335,000 $335,000 $23,762 5.00%
Calhoun, GA (FHA|USDA|VA) 1 $335,000 $335,000 $16,695 7.63%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $325,000 $325,000 $16,094 5.50%
Ada, OK (FHA|USDA|VA) 1 $325,000 $325,000 $150 7.63%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $305,000 $305,000 $12,633 8.13%
Glenwood Springs, CO (FHA|USDA|VA) 1 $305,000 $305,000 $22,032 6.25%
Danville, VA (FHA|USDA|VA) 1 $305,000 $305,000 $16,813 5.00%
PROVO-OREM, UT (FHA|USDA|VA) 1 $305,000 $305,000 $16,636 5.75%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $305,000 $305,000 $9,656 7.25%
Carlsbad-Artesia, NM (FHA|USDA|VA) 1 $305,000 $305,000 $8,414 6.99%
MONTGOMERY, AL (FHA|USDA|VA) 2 $300,000 $150,000 $3,185 7.56%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $295,000 $295,000 $2,644 7.63%
SUMTER, SC (FHA|USDA|VA) 1 $285,000 $285,000 $20,907 4.63%
GAINESVILLE, GA (FHA|USDA|VA) 1 $285,000 $285,000 $16,073 5.63%
Alpena, MI (FHA|USDA|VA) 2 $280,000 $140,000 $5,193 6.50%
MORGANTOWN, WV (FHA|USDA|VA) 1 $275,000 $275,000 $12,025 7.13%
WALLA WALLA, WA (FHA|USDA|VA) 1 $275,000 $275,000 $20,252 5.63%
Gaffney, SC (FHA|USDA|VA) 1 $275,000 $275,000 $20,513 6.13%
ROANOKE, VA (FHA|USDA|VA) 1 $275,000 $275,000 $12,257 5.38%
Lewistown, PA (FHA|USDA|VA) 2 $270,000 $135,000 $9,582 5.69%
Andrews, TX (FHA|USDA|VA) 1 $265,000 $265,000 $14,476 6.13%
Fort Morgan, CO (FHA|USDA|VA) 1 $265,000 $265,000 $5,138 6.75%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $265,000 $265,000 $12,282 5.50%
LEWISTON, ID-WA (FHA|USDA|VA) 1 $265,000 $265,000 $10,534 5.00%
TYLER, TX (FHA|USDA|VA) 1 $265,000 $265,000 $10,781 7.13%
DAYTON-KETTERING, OH (FHA|USDA|VA) 2 $260,000 $130,000 $6,246 7.44%
Lewisburg, TN (FHA|USDA|VA) 1 $255,000 $255,000 $8,752 7.25%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $255,000 $255,000 $16,421 6.63%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $255,000 $255,000 $8,367 6.63%
Gainesville, TX (FHA|USDA|VA) 1 $255,000 $255,000 $14,480 5.63%
Palatka, FL (FHA|USDA|VA) 1 $255,000 $255,000 $10,586 6.88%
Kerrville, TX (FHA|USDA|VA) 1 $245,000 $245,000 $7,864 6.50%
MEDFORD, OR (FHA|USDA|VA) 1 $245,000 $245,000 $5,872 7.25%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $245,000 $245,000 $12,346 5.50%
Dayton, TN (FHA|USDA|VA) 1 $245,000 $245,000 $7,928 6.13%
Orangeburg, SC (FHA|USDA|VA) 1 $245,000 $245,000 $16,021 7.13%
Ukiah, CA (FHA|USDA|VA) 1 $245,000 $245,000 $12,684 5.00%
Oak Harbor, WA (FHA|USDA|VA) 1 $245,000 $245,000 $13,572 5.38%
Crawfordsville, IN (FHA|USDA|VA) 1 $245,000 $245,000 $7,670 7.63%
KOKOMO, IN (FHA|USDA|VA) 2 $240,000 $120,000 $5,548 7.00%
Shawano, WI (FHA|USDA|VA) 2 $240,000 $120,000 $8,050 6.81%
Kingsville, TX (FHA|USDA|VA) 1 $235,000 $235,000 $8,778 5.88%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $225,000 $225,000 $9,955 6.88%
LIMA, OH (FHA|USDA|VA) 1 $225,000 $225,000 $9,502 7.13%
Bainbridge, GA (FHA|USDA|VA) 1 $215,000 $215,000 $10,880 7.00%
Bluffton, IN (FHA|USDA|VA) 1 $215,000 $215,000 $2,996 7.13%
Mineral Wells, TX (FHA|USDA|VA) 1 $215,000 $215,000 $12,899 7.13%
Bartlesville, OK (FHA|USDA|VA) 1 $205,000 $205,000 $2,426 6.63%
Norwalk, OH (FHA|USDA|VA) 1 $205,000 $205,000 $14,033 5.75%
LOUISVILLE, KY (FHA|USDA|VA) 1 $205,000 $205,000 $2,516 6.25%
Lock Haven, PA (FHA|USDA|VA) 1 $205,000 $205,000 $8,600 6.38%
Fort Payne, AL (FHA|USDA|VA) 1 $205,000 $205,000 $8,890 7.50%
SAVANNAH, GA (FHA|USDA|VA) 1 $195,000 $195,000 $6,837 6.88%
ALBANY, GA (FHA|USDA|VA) 1 $195,000 $195,000 $9,893 6.63%
Albemarle, NC (FHA|USDA|VA) 1 $195,000 $195,000 $2,289 6.75%
Morehead City, NC (FHA|USDA|VA) 1 $195,000 $195,000 $6,911 7.63%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $195,000 $195,000 $14,158 7.13%
Clewiston, FL (FHA|USDA|VA) 1 $195,000 $195,000 $8,061 7.13%
Manitowoc, WI (FHA|USDA|VA) 1 $195,000 $195,000 $2,555 6.99%
Cañon City, CO (FHA|USDA|VA) 1 $185,000 $185,000 $11,934 5.13%
Lake City, FL (FHA|USDA|VA) 1 $185,000 $185,000 $6,913 7.13%
Whitewater, WI (FHA|USDA|VA) 1 $185,000 $185,000 $2,580 7.13%
Miami, OK (FHA|USDA|VA) 1 $185,000 $185,000 $11,861 7.63%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $185,000 $185,000 $13,900 5.13%
Big Rapids, MI (FHA|USDA|VA) 2 $180,000 $90,000 $1,981 3.44%
LEBANON, PA (FHA|USDA|VA) 1 $175,000 $175,000 $11,133 5.99%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $175,000 $175,000 $13,645 5.00%
Thomasville, GA (FHA|USDA|VA) 1 $175,000 $175,000 $9,574 7.50%
Sterling, IL (FHA|USDA|VA) 1 $175,000 $175,000 $3,016 6.38%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $165,000 $165,000 $6,979 7.13%
Wilson, NC (FHA|USDA|VA) 1 $165,000 $165,000 $9,884 7.00%
Sandusky, OH (FHA|USDA|VA) 1 $155,000 $155,000 $2,750 7.50%
MANSFIELD, OH (FHA|USDA|VA) 1 $155,000 $155,000 $4,353 6.50%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $155,000 $155,000 $8,346 7.00%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 1 $155,000 $155,000 $5,204 6.63%
Sterling, CO (FHA|USDA|VA) 1 $155,000 $155,000 $200 7.13%
LAWTON, OK (FHA|USDA|VA) 1 $155,000 $155,000 $6,339 8.13%
Decatur, IN (FHA|USDA|VA) 1 $155,000 $155,000 $7,768 6.63%
Laurinburg, NC (FHA|USDA|VA) 1 $145,000 $145,000 $2,485 6.75%
Roanoke Rapids, NC (FHA|USDA|VA) 1 $145,000 $145,000 $4,168 6.99%
Escanaba, MI (FHA|USDA|VA) 1 $145,000 $145,000 $4,607 7.50%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $145,000 $145,000 $12,967 5.50%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $135,000 $135,000 $7,933 5.63%
Faribault-Northfield, MN (FHA|USDA|VA) 1 $135,000 $135,000 $1,441 7.25%
Sault Ste. Marie, MI (FHA|USDA|VA) 2 $130,000 $65,000 $3,048 3.31%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $125,000 $125,000 $5,847 5.63%
Marion, OH (FHA|USDA|VA) 1 $125,000 $125,000 $2,819 6.50%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 1 $125,000 $125,000 $5,152 7.25%
Cullman, AL (FHA|USDA|VA) 1 $115,000 $115,000 $243 7.63%
VICTORIA, TX (FHA|USDA|VA) 1 $115,000 $115,000 $9,391 5.99%
Coldwater, MI (FHA|USDA|VA) 1 $115,000 $115,000 $8,359 7.63%
Española, NM (FHA|USDA|VA) 1 $115,000 $115,000 $7,183 7.99%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $115,000 $115,000 $4,826 6.99%
DuBois, PA (FHA|USDA|VA) 1 $115,000 $115,000 $5,357 5.88%
Opelousas, LA (FHA|USDA|VA) 1 $105,000 $105,000 $6,227 8.00%
Rio Grande City-Roma, TX (FHA|USDA|VA) 1 $105,000 $105,000 $7,950 6.13%
Marion, IN (FHA|USDA|VA) 1 $105,000 $105,000 $6,276 6.13%
BOISE CITY, ID (FHA|USDA|VA) 1 $105,000 $105,000 $5,937 6.63%
Fremont, OH (FHA|USDA|VA) 1 $105,000 $105,000 $8,641 7.13%
Lufkin, TX (FHA|USDA|VA) 2 $100,000 $50,000 $3,218 3.81%
IOWA CITY, IA (FHA|USDA|VA) 1 $95,000 $95,000 $2,289 6.88%
Hereford, TX (FHA|USDA|VA) 1 $95,000 $95,000 $4,918 7.50%
FLORENCE, SC (FHA|USDA|VA) 1 $95,000 $95,000 $5,107 5.99%
Meadville, PA (FHA|USDA|VA) 1 $85,000 $85,000 $5,463 6.75%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $75,000 $75,000 $6,873 5.99%
WICHITA, KS (FHA|USDA|VA) 1 $65,000 $65,000 $5,187 7.99%
New Philadelphia-Dover, OH (FHA|USDA|VA) 1 $65,000 $65,000 $3,581 6.38%
LaGrange, GA-AL (FHA|USDA|VA) 1 $55,000 $55,000 $6,417 7.88%
Michigan Mutual's top markets include Detroit, Tampa, Dallas, Phoenix, and Miami among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,452 $581,360,000 $237,096 $7,199 6.37%
    FHA 907 $241,335,000 $266,080 $13,218 6.35%
    VA 284 $95,950,000 $337,852 $9,845 6.24%
    USDA 28 $4,810,000 $171,786 $7,927 6.61%

    For 2023, Michigan Mutual's most frequently originated type of loan was Conventional, with 2,452 originations. Their 2nd most popular type was FHA, with 907 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,729 $682,565,000 $250,115 $8,252 6.41%
    Cash Out Refi 753 $182,595,000 $242,490 $10,949 6.09%
    Refi 189 $58,295,000 $308,439 $10,027 6.68%

    For 2023, Michigan Mutual's most frequently cited loan purpose was Home Purchase, with 2,729 originations. The 2nd most popular reason was Cash Out Refi, with 753 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,572 $897,980,000 $251,394 $8,919 6.37%
    15 Year 56 $15,390,000 $274,821 $8,797 5.93%
    20 Year 28 $7,970,000 $284,643 $7,428 6.82%
    Other 8 $1,960,000 $245,000 $11,583 6.59%
    10 Year 5 $135,000 $27,000 $1,210 6.93%
    3 Year 2 $20,000 $10,000 $0 0.00%

    For 2023, Michigan Mutual's most frequently cited loan duration was 30 Year, with 3,572 originations. The 2nd most popular length was 15 Year, with 56 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 1,408 $465,950,000 $330,930
    $1k-2k 482 $105,470,000 $218,817
    $2k-3k 471 $98,635,000 $209,416
    $3k-4k 459 $94,075,000 $204,956
    $<1k 447 $65,365,000 $146,230
    $4k-5k 404 $93,960,000 $232,574

    Michigan Mutual's average total fees were $8,919, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1,408 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 1,500 $377,180,000 $251,453
    7-8% 1,109 $292,715,000 $263,945
    5-6% 685 $191,825,000 $280,036
    <2.5% 159 $1,725,000 $10,849
    4-5% 144 $43,030,000 $298,819
    Over 8% 74 $16,980,000 $229,459

    During 2023, Michigan Mutual's average interest rate for loans was 6.37%, while their most frequently originated rate bucket for loans was 6-7%, with 1,500 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,491 $417,885,000 $280,272 $10,435 6.59%
    $100k-200k 1,243 $191,965,000 $154,437 $6,427 6.68%
    $400k-600k 401 $191,885,000 $478,516 $14,821 6.57%
    $100,000 or less 396 $19,550,000 $49,369 $2,638 4.15%
    $600k-1MM 131 $89,785,000 $685,382 $14,602 6.65%
    $1MM+ 9 $12,385,000 $1,376,111 $23,368 6.90%

    2023 saw Michigan Mutual place emphasis on $200k-400k loans with 1,491 originations, totaling $417,885,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 909 $162,965,000 $179,279 $7,211 6.08%
    $100k-150k 789 $241,565,000 $306,166 $10,968 6.56%
    $75k-100k 706 $166,570,000 $235,935 $9,170 6.48%
    $50k or less 526 $63,650,000 $121,008 $5,389 5.77%
    $150k-250k 523 $193,445,000 $369,876 $10,715 6.78%
    $250k+ 211 $93,175,000 $441,588 $11,762 6.86%

    Michigan Mutual lent most frequently to those with incomes in the $50k-75k range, with 909 originations. The second most popular income band? $100k-150k, with 789 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 541 $120,415,000 $222,579 $7,435 6.21%
    20-30% 482 $108,080,000 $224,232 $7,078 6.40%
    50-60% 399 $124,195,000 $311,266 $13,345 6.26%
    44% 252 $59,340,000 $235,476 $8,189 5.96%
    49% 190 $59,620,000 $313,789 $10,571 6.66%
    42% 173 $41,185,000 $238,064 $8,438 6.39%
    41% 170 $39,820,000 $234,235 $8,103 6.20%
    48% 166 $47,750,000 $287,651 $10,262 6.68%
    43% 163 $39,275,000 $240,951 $8,219 6.14%
    45% 141 $39,215,000 $278,121 $9,555 6.78%
    40% 138 $34,500,000 $250,000 $8,681 6.18%
    39% 130 $28,690,000 $220,692 $9,180 6.42%
    37% 126 $29,090,000 $230,873 $7,913 6.36%
    <20% 122 $25,620,000 $210,000 $7,331 6.70%
    46% 122 $34,980,000 $286,721 $9,402 6.64%
    47% 118 $33,390,000 $282,966 $11,244 6.62%
    38% 111 $26,095,000 $235,090 $7,277 6.42%
    36% 99 $21,955,000 $221,768 $7,504 6.28%
    >60% 14 $6,640,000 $474,286 $14,631 6.72%

    Michigan Mutual lent most frequently to those with DTI ratios of 30-36%, with 541 originations. The next most common DTI ratio? 20-30%, with 482 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,275 $547,885,000 $240,829 $7,892 6.48%
    Not provided 1,003 $276,095,000 $275,269 $10,828 6.11%
    Black 267 $64,055,000 $239,906 $9,809 6.20%
    Asian 101 $28,255,000 $279,752 $9,640 6.60%
    American Indian 15 $3,965,000 $264,333 $9,207 6.43%
    Asian Indian 6 $1,810,000 $301,667 $7,686 6.98%
    Native Hawaiian or Islander 4 $1,390,000 $347,500 $16,851 5.84%

    Approval Rates

    Total approvals of all applications
    91.35%

    Michigan Mutual has an average approval rate.

    Pick Rate

    Approvals leading to origination
    40.62%

    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 3,671 $923,455,000 $251,554

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,671 $923,455,000 $251,554

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 137 $20,845,000 $152,153 $5,276 6.32%
    40-60% 296 $71,430,000 $241,318 $7,943 6.51%
    60-80% 1,110 $286,750,000 $258,333 $9,474 6.62%
    80-100% 1,879 $517,375,000 $275,346 $9,635 6.69%
    Over 100% 63 $21,405,000 $339,762 $13,441 6.64%
    Under 20% 180 $4,390,000 $24,389 $506 1.06%