Mortgage Center L.c Rates, Fees & Info
PLYMOUTH, MILEI: 549300X4P2GHQNMZGO79
Tax ID: 38-3358941
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Mortgage Data
Review & Overview
Mortgage Center L.c is a smaller mortgage company specializing in Home Purchase loans. Mortgage Center L.c has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Detroit, Lansing, Kalamazoo, Holland, and Grand Rapids among others. We have data for 54 markets. (Some data included below & more in-depth data is available with an active subscription.)Mortgage Center L.c 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. Mortgage Center L.c is typically a low 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 | 6.82% | 4/5/25 |
| 30 Year Conventional Refi | 6.32% | 4/5/25 |
| 30 Year Cash-out Refi | 6.87% | 4/5/25 |
| 30 Year FHA Purchase | 7.82% | 4/5/25 |
| 30 Year FHA Refi | 6.50% | 4/5/25 |
| 30 Year VA Purchase | 6.61% | 4/5/25 |
| 15 Year Conventional Purchase | 6.41% | 4/5/25 |
| 15 Year Conventional Refi | 6.20% | 4/5/25 |
| 15 Year Cash-out Refi | 6.20% | 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. | ||
Mortgage Center L.c Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Mortgage Center L.c. 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
1,643Origination Dollar Volume (All Markets)
$313,145,000Awards
MORTGAGE CENTER L.C - 2024
MORTGAGE CENTER L.C is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Mortgage Center L.c's average 30 year fixed mortgage rate was
6.38%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.17%.
Relative Fees (Closing Costs)
Mortgage Center L.c's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,291.
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) | 789 | $150,365,000 | $190,577 | $3,514 | 6.74% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 135 | $21,335,000 | $158,037 | $3,515 | 6.77% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 117 | $19,765,000 | $168,932 | $3,471 | 7.02% |
| Outside of Metro Areas | 111 | $17,825,000 | $160,586 | $3,428 | 6.85% |
| Holland, MI (FHA|USDA|VA) | 35 | $15,955,000 | $455,857 | $3,797 | 6.81% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 47 | $9,925,000 | $211,170 | $3,271 | 6.69% |
| ANN ARBOR, MI (FHA|USDA|VA) | 32 | $9,230,000 | $288,438 | $4,075 | 6.48% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 30 | $7,820,000 | $260,667 | $3,682 | 6.76% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 43 | $6,705,000 | $155,930 | $3,730 | 6.95% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 41 | $6,285,000 | $153,293 | $3,447 | 6.63% |
| Whitewater, WI (FHA|USDA|VA) | 16 | $5,190,000 | $324,375 | $4,052 | 6.99% |
| FLINT, MI (FHA|USDA|VA) | 16 | $4,720,000 | $295,000 | $4,424 | 6.54% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 34 | $4,500,000 | $132,353 | $3,952 | 7.15% |
| MONROE, MI (FHA|USDA|VA) | 22 | $4,340,000 | $197,273 | $4,413 | 6.74% |
| JACKSON, MI (FHA|USDA|VA) | 27 | $3,725,000 | $137,963 | $3,689 | 6.86% |
| Traverse City, MI (FHA|USDA|VA) | 10 | $2,860,000 | $286,000 | $5,428 | 6.54% |
| Adrian, MI (FHA|USDA|VA) | 9 | $2,125,000 | $236,111 | $3,187 | 7.00% |
| TOLEDO, OH (FHA|USDA|VA) | 12 | $1,910,000 | $159,167 | $3,066 | 7.53% |
| AKRON, OH (FHA|USDA|VA) | 16 | $1,630,000 | $101,875 | $3,271 | 7.42% |
| ROCKFORD, IL (FHA|USDA|VA) | 11 | $1,495,000 | $135,909 | $2,961 | 7.07% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $1,325,000 | $441,667 | $5,820 | 6.08% |
| Mount Pleasant, MI (FHA|USDA|VA) | 5 | $1,275,000 | $255,000 | $5,495 | 7.10% |
| RACINE, WI (FHA|USDA|VA) | 6 | $1,140,000 | $190,000 | $3,739 | 7.02% |
| SAGINAW, MI (FHA|USDA|VA) | 9 | $985,000 | $109,444 | $3,869 | 6.94% |
| MIDLAND, MI (FHA|USDA|VA) | 4 | $780,000 | $195,000 | $3,551 | 7.16% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $5,544 | 6.56% |
| MUSKEGON, MI (FHA|USDA|VA) | 5 | $685,000 | $137,000 | $2,934 | 7.15% |
| Sturgis, MI (FHA|USDA|VA) | 5 | $675,000 | $135,000 | $3,157 | 7.40% |
| Houghton, MI (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $4,198 | 6.50% |
| MADISON, WI (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $3,758 | 6.29% |
| Coldwater, MI (FHA|USDA|VA) | 5 | $575,000 | $115,000 | $2,361 | 7.58% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 6 | $570,000 | $95,000 | $2,550 | 7.60% |
| Marquette, MI (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $4,835 | 6.38% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $7,262 | 6.63% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $4,155 | 6.19% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $7,909 | 6.75% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,333 | 6.38% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,809 | 5.38% |
| Cadillac, MI (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $3,329 | 6.81% |
| Alma, MI (FHA|USDA|VA) | 7 | $305,000 | $43,571 | $1,869 | 7.80% |
| BAY CITY, MI (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,445 | 7.63% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,053 | 6.25% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,215 | 6.50% |
| Fremont, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,524 | 7.50% |
| DANVILLE, IL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,540 | 5.88% |
| Ashtabula, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,668 | 6.63% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $2,327 | 6.92% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,009 | 6.50% |
| Sandusky, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,644 | 6.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,113 | 6.75% |
| Wooster, OH (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $1,548 | 8.31% |
| NILES, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,603 | 8.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,781 | 7.00% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,368 | 6.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against MORTGAGE CENTER L.C based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,547 | $289,475,000 | $187,120 | $3,266 | 6.81% |
| FHA | 66 | $13,860,000 | $210,000 | $9,095 | 6.87% |
| VA | 30 | $9,810,000 | $327,000 | $6,723 | 6.48% |
For 2024, Mortgage Center L.c's most frequently originated type of loan was Conventional, with 1,547 originations. Their 2nd most popular type was FHA, with 66 originations.
Loan Reason
For 2024, Mortgage Center L.c's most frequently cited loan purpose was Home Purchase, with 805 originations. The 2nd most popular reason was Other, with 470 originations.
Loan Duration/Length
For 2024, Mortgage Center L.c's most frequently cited loan duration was 30 Year, with 1,164 originations. The 2nd most popular length was 15 Year, with 402 originations.
Origination Fees/Closing Costs
Mortgage Center L.c's average total fees were $4,291, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 981 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 772 | $175,630,000 | $227,500 |
| 5-6% | 333 | $84,455,000 | $253,619 |
| 7-8% | 307 | $35,015,000 | $114,055 |
| Over 8% | 221 | $14,285,000 | $64,638 |
| 4-5% | 10 | $3,760,000 | $376,000 |
During 2024, Mortgage Center L.c's average interest rate for loans was 6.38%, while their most frequently originated rate bucket for loans was 6-7%, with 772 originations.
Loan Sizing
2024 saw Mortgage Center L.c place emphasis on $100,000 or less loans with 556 originations, totaling $31,530,000 in origination value.
Applicant Income
Mortgage Center L.c lent most frequently to those with incomes in the $100k-150k range, with 409 originations. The second most popular income band? $50k-75k, with 373 originations.
Applicant Debt to Income Ratio
Mortgage Center L.c lent most frequently to those with DTI ratios of 20-30%, with 329 originations. The next most common DTI ratio? 30-36%, with 318 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.62%
Mortgage Center L.c has an average approval rate.
Pick Rate
Approvals leading to origination69.75%
Mortgage Center L.c 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 | 1,643 | $313,145,000 | $190,593 |