Mortgage Center L.c Rates, Fees & Info

PLYMOUTH, MI

LEI: 549300X4P2GHQNMZGO79

Tax ID: 38-3358941

5 stars - out of 5 stars, based on 68 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Mortgage Center L.c is a smaller mortgage company specializing in Refi and Cash Out Refi 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, Kalamazoo, Lansing, Grand Rapids, and Ann Arbor among others. We have data for 62 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 6.70% 10/3/22
    30 Year Conventional Refi 6.47% 10/3/22
    30 Year Cash-out Refi 6.68% 10/3/22
    30 Year FHA Purchase 7.55% 10/3/22
    30 Year FHA Refi 7.33% 10/3/22
    30 Year VA Purchase 6.47% 10/3/22
    30 Year VA Refi 6.24% 10/3/22
    30 Year USDA Purchase 6.29% 10/3/22
    15 Year Conventional Purchase 6.29% 10/3/22
    15 Year Conventional Refi 6.24% 10/3/22
    15 Year Cash-out Refi 6.24% 10/3/22
    15 Year FHA Refi 7.48% 10/3/22
    15 Year VA Refi 5.96% 10/3/22
    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.


    Originations

    4,576

    Origination Dollar Volume (All Markets)

    $689,080,000
    Show all (17) awards

    Relative Rate

    Mortgage Center L.c's average 30 year fixed mortgage rate was 3.17%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.02%.

    Relative Fees (Closing Costs)

    Mortgage Center L.c's average total fees/closing costs for a 30 year fixed rate mortgage were $2,871.

    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) 2,076 $313,040,000 $150,790 $2,518 2.94%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 449 $66,285,000 $147,628 $2,551 2.92%
    Outside of Metro Areas 361 $54,505,000 $150,983 $2,566 2.94%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 371 $51,345,000 $138,396 $2,473 2.93%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 181 $32,895,000 $181,740 $2,656 2.94%
    ANN ARBOR, MI (FHA|USDA|VA) 159 $26,955,000 $169,528 $2,538 2.96%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 158 $21,480,000 $135,949 $2,363 2.98%
    Holland, MI (FHA|USDA|VA) 100 $16,560,000 $165,600 $2,698 2.98%
    BATTLE CREEK, MI (FHA|USDA|VA) 118 $14,060,000 $119,153 $2,466 2.93%
    Whitewater, WI (FHA|USDA|VA) 62 $11,530,000 $185,968 $2,333 2.98%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 56 $11,430,000 $204,107 $2,726 2.90%
    MONROE, MI (FHA|USDA|VA) 66 $9,160,000 $138,788 $2,648 2.88%
    JACKSON, MI (FHA|USDA|VA) 57 $7,375,000 $129,386 $2,545 3.05%
    FLINT, MI (FHA|USDA|VA) 35 $5,685,000 $162,429 $2,639 2.90%
    ROCKFORD, IL (FHA|USDA|VA) 49 $5,365,000 $109,490 $2,135 2.82%
    MUSKEGON, MI (FHA|USDA|VA) 33 $4,295,000 $130,152 $2,423 3.03%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 28 $4,070,000 $145,357 $3,500 3.04%
    Traverse City, MI (FHA|USDA|VA) 18 $3,730,000 $207,222 $2,594 2.88%
    Mount Pleasant, MI (FHA|USDA|VA) 18 $2,560,000 $142,222 $2,564 2.96%
    Adrian, MI (FHA|USDA|VA) 13 $2,485,000 $191,154 $3,021 3.06%
    Sturgis, MI (FHA|USDA|VA) 14 $2,120,000 $151,429 $2,558 3.05%
    TOLEDO, OH (FHA|USDA|VA) 18 $1,860,000 $103,333 $3,213 3.01%
    Big Rapids, MI (FHA|USDA|VA) 8 $1,790,000 $223,750 $3,201 3.00%
    NILES, MI (FHA|USDA|VA) 8 $1,550,000 $193,750 $2,915 3.16%
    AKRON, OH (FHA|USDA|VA) 16 $1,510,000 $94,375 $3,154 3.24%
    RACINE, WI (FHA|USDA|VA) 6 $1,090,000 $181,667 $2,705 3.33%
    Alma, MI (FHA|USDA|VA) 9 $1,025,000 $113,889 $3,678 2.82%
    Coldwater, MI (FHA|USDA|VA) 9 $945,000 $105,000 $2,943 2.65%
    Hillsdale, MI (FHA|USDA|VA) 5 $935,000 $187,000 $4,472 3.05%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $805,000 $805,000 $7,999 3.25%
    Ludington, MI (FHA|USDA|VA) 3 $775,000 $258,333 $2,280 2.96%
    SAGINAW, MI (FHA|USDA|VA) 10 $770,000 $77,000 $2,434 3.06%
    BAY CITY, MI (FHA|USDA|VA) 5 $715,000 $143,000 $2,366 2.70%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 5 $685,000 $137,000 $2,658 3.03%
    MADISON, WI (FHA|USDA|VA) 4 $650,000 $162,500 $2,438 3.13%
    MIDLAND, MI (FHA|USDA|VA) 4 $610,000 $152,500 $2,374 2.88%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 4 $550,000 $137,500 $1,715 2.84%
    Cadillac, MI (FHA|USDA|VA) 5 $535,000 $107,000 $2,465 2.90%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $420,000 $210,000 $3,971 3.13%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 3 $405,000 $135,000 $3,034 2.92%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $355,000 $355,000 $2,590 2.63%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $315,000 $105,000 $2,270 2.50%
    COLUMBUS, OH (FHA|USDA|VA) 2 $300,000 $150,000 $2,730 2.69%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $285,000 $285,000 $4,044 3.00%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $275,000 $275,000 $3,844 3.13%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $265,000 $265,000 $3,303 3.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $265,000 $265,000 $2,641 3.38%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,661 3.00%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $245,000 $245,000 $3,042 3.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,814 3.25%
    Houghton, MI (FHA|USDA|VA) 4 $220,000 $55,000 $2,689 3.56%
    Escanaba, MI (FHA|USDA|VA) 2 $200,000 $100,000 $2,022 2.81%
    Rochelle, IL (FHA|USDA|VA) 1 $175,000 $175,000 $7,229 3.63%
    Sault Ste. Marie, MI (FHA|USDA|VA) 1 $175,000 $175,000 $2,938 3.25%
    SPRINGFIELD, IL (FHA|USDA|VA) 1 $155,000 $155,000 $1,991 2.38%
    Marinette, WI-MI (FHA|USDA|VA) 1 $135,000 $135,000 $3,061 3.25%
    Marquette, MI (FHA|USDA|VA) 1 $135,000 $135,000 $2,629 3.13%
    Freeport, IL (FHA|USDA|VA) 1 $125,000 $125,000 $5,089 3.38%
    Ashtabula, OH (FHA|USDA|VA) 1 $105,000 $105,000 $3,272 3.13%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $105,000 $105,000 $3,725 2.50%
    Iron Mountain, MI-WI (FHA|USDA|VA) 1 $105,000 $105,000 $2,398 2.13%
    Wooster, OH (FHA|USDA|VA) 1 $105,000 $105,000 $3,489 2.88%

    Mortgage Center L.c's top markets include Detroit, Kalamazoo, Lansing, Grand Rapids, and Ann Arbor among others.

    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.

    First Savings Bank of Hegewisch
    Similarity Rank: 45
    State Bank of Cross Plains
    Similarity Rank: 150
    Liberty Bank for Savings
    Similarity Rank: 153
    Rock Valley Credit Union
    Similarity Rank: 196
    St James Mortgage Corporation
    Similarity Rank: 304
    Community West Credit Union
    Similarity Rank: 306
    HERITAGE CREDIT UNION
    Similarity Rank: 306
    KENT COUNTY CREDIT UNION
    Similarity Rank: 316

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,440 $667,170,000 $150,264 $2,457 2.94%
    FHA 115 $17,655,000 $153,522 $5,724 3.21%
    VA 21 $4,255,000 $202,619 $4,569 2.99%

    For 2021, Mortgage Center L.c's most frequently originated type of loan was Conventional, with 4,440 originations. Their 2nd most popular type was FHA, with 115 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,919 $273,915,000 $142,738 $2,196 2.76%
    Cash Out Refi 1,617 $244,675,000 $151,314 $2,644 3.03%
    Home Purchase 672 $123,180,000 $183,304 $3,448 3.10%
    Other 301 $38,165,000 $126,794 $2,347 3.27%
    Home Improvement 67 $9,145,000 $136,493 $2,212 3.13%

    For 2021, Mortgage Center L.c's most frequently cited loan purpose was Refi, with 1,919 originations. The 2nd most popular reason was Cash Out Refi, with 1,617 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,398 $408,250,000 $170,246 $2,871 3.17%
    15 Year 1,456 $191,180,000 $131,305 $2,205 2.66%
    20 Year 356 $50,080,000 $140,674 $2,308 2.95%
    10 Year 303 $30,995,000 $102,294 $2,049 2.42%
    Other 52 $8,250,000 $158,654 $2,190 3.10%
    5 Year 11 $325,000 $29,545 $977 3.34%

    For 2021, Mortgage Center L.c's most frequently cited loan duration was 30 Year, with 2,398 originations. The 2nd most popular length was 15 Year, with 1,456 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2,356 $351,350,000 $149,130
    $<1k 1,865 $261,735,000 $140,340
    $2k-3k 224 $44,650,000 $199,330
    $3k-4k 67 $13,445,000 $200,672
    $4k-5k 33 $8,395,000 $254,394
    $5k+ 26 $8,790,000 $338,077

    Mortgage Center L.c's average total fees were $2,871, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,356 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,916 $288,840,000 $150,752
    3-4% 1,579 $270,745,000 $171,466
    <2.5% 993 $124,285,000 $125,161
    4-5% 69 $4,405,000 $63,841
    5-6% 19 $805,000 $42,368

    During 2021, Mortgage Center L.c's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,916 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 2,319 $333,015,000 $143,603 $2,521 2.94%
    $100,000 or less 1,299 $93,635,000 $72,082 $2,098 2.88%
    $200k-400k 891 $226,825,000 $254,574 $3,157 3.02%
    $400k-600k 54 $24,950,000 $462,037 $3,759 3.05%
    $600k-1MM 11 $8,115,000 $737,727 $4,976 3.20%
    $1MM+ 2 $2,540,000 $1,270,000 $9,927 3.38%

    2021 saw Mortgage Center L.c place emphasis on $100k-200k loans with 2,319 originations, totaling $333,015,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,381 $181,355,000 $131,322 $2,529 2.95%
    $75k-100k 968 $150,060,000 $155,021 $2,549 2.93%
    $50k or less 951 $97,055,000 $102,056 $2,436 2.96%
    $100k-150k 906 $167,400,000 $184,768 $2,574 2.94%
    $150k-250k 320 $73,200,000 $228,750 $2,738 2.90%
    $250k+ 48 $19,710,000 $410,625 $3,578 2.87%

    Mortgage Center L.c lent most frequently to those with incomes in the $50k-75k range, with 1,381 originations. The second most popular income band? $75k-100k, with 968 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,202 $172,680,000 $143,661 $2,377 2.89%
    30-36% 917 $144,245,000 $157,301 $2,553 2.95%
    <20% 580 $77,570,000 $133,741 $2,279 2.81%
    41% 179 $29,085,000 $162,486 $2,718 3.03%
    43% 173 $27,555,000 $159,277 $2,712 3.01%
    37% 165 $26,315,000 $159,485 $2,566 3.04%
    44% 163 $23,665,000 $145,184 $2,599 2.95%
    40% 160 $24,970,000 $156,063 $2,587 3.07%
    39% 159 $23,775,000 $149,528 $2,613 3.05%
    38% 151 $23,515,000 $155,728 $2,644 3.10%
    42% 150 $23,830,000 $158,867 $2,573 3.10%
    36% 135 $21,325,000 $157,963 $2,684 2.94%
    49% 103 $16,185,000 $157,136 $3,059 2.98%
    47% 82 $12,930,000 $157,683 $3,032 2.92%
    45% 80 $11,860,000 $148,250 $2,689 2.96%
    48% 79 $13,145,000 $166,392 $3,118 2.99%
    46% 77 $12,385,000 $160,844 $2,811 3.03%
    50-60% 20 $3,890,000 $194,500 $5,913 3.06%

    Mortgage Center L.c lent most frequently to those with DTI ratios of 20-30%, with 1,202 originations. The next most common DTI ratio? 30-36%, with 917 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,844 $582,170,000 $151,449 $2,546 2.95%
    Not provided 418 $63,310,000 $151,459 $2,473 2.90%
    Black 235 $30,595,000 $130,191 $2,658 2.98%
    Asian 35 $5,995,000 $171,286 $2,509 2.80%
    American Indian 35 $5,395,000 $154,143 $2,855 2.98%
    Native Hawaiian or Islander 8 $1,470,000 $183,750 $3,288 2.81%
    Other Asian 1 $145,000 $145,000 $1,678 2.63%

    Approval Rates

    Total approvals of all applications
    92.34%

    Mortgage Center L.c has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.88%

    Mortgage Center L.c has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,576 $689,080,000 $150,586

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,576 $689,080,000 $150,586

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 483 $42,505,000 $88,002 $1,957 2.74%
    40-60% 1,238 $162,100,000 $130,937 $2,236 2.76%
    60-80% 1,956 $325,310,000 $166,314 $2,620 2.99%
    80-100% 822 $155,430,000 $189,088 $3,302 3.14%
    Over 100% 1 $195,000 $195,000 $4,324 2.63%
    Under 20% 76 $3,540,000 $46,579 $1,381 3.86%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    MORTGAGE CENTER, LC FHA mortgage Closing on a mortgage 1 100.0%