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 and Other 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 Holland among others. We have data for 52 markets. (Some data included below & more in-depth data is available with an active subscription.)Mortgage Center L.c 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. 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 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.46% | 4/21/24 |
| 30 Year Conventional Refi | 6.18% | 4/21/24 |
| 30 Year Cash-out Refi | 6.43% | 4/21/24 |
| 30 Year FHA Purchase | 7.40% | 4/21/24 |
| 30 Year FHA Refi | 7.17% | 4/21/24 |
| 30 Year VA Purchase | 6.58% | 4/21/24 |
| 15 Year Conventional Purchase | 5.76% | 4/21/24 |
| 15 Year Conventional Refi | 5.80% | 4/21/24 |
| 15 Year Cash-out Refi | 5.80% | 4/21/24 |
| 15 Year FHA Refi | 6.14% | 4/21/24 |
| 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. | ||
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
1,412Origination Dollar Volume (All Markets)
$203,860,000Awards
MORTGAGE CENTER L.C - 2023
MORTGAGE CENTER L.C is a 2023 , due to their low .
For 2023, 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
6.4%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.08%.
Relative Fees (Closing Costs)
Mortgage Center L.c's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,079.
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) | 630 | $88,480,000 | $140,444 | $3,053 | 6.88% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 122 | $17,470,000 | $143,197 | $3,275 | 7.31% |
| Outside of Metro Areas | 102 | $13,760,000 | $134,902 | $3,673 | 6.91% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 97 | $13,465,000 | $138,814 | $3,268 | 6.75% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 45 | $9,555,000 | $212,333 | $3,181 | 6.57% |
| Holland, MI (FHA|USDA|VA) | 40 | $5,610,000 | $140,250 | $3,154 | 7.12% |
| ANN ARBOR, MI (FHA|USDA|VA) | 25 | $5,535,000 | $221,400 | $4,292 | 6.68% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 29 | $5,385,000 | $185,690 | $4,251 | 6.77% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 44 | $5,060,000 | $115,000 | $2,950 | 6.77% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 37 | $4,315,000 | $116,622 | $3,097 | 7.50% |
| JACKSON, MI (FHA|USDA|VA) | 28 | $3,020,000 | $107,857 | $3,281 | 7.17% |
| MONROE, MI (FHA|USDA|VA) | 18 | $2,620,000 | $145,556 | $2,845 | 6.81% |
| FLINT, MI (FHA|USDA|VA) | 14 | $2,540,000 | $181,429 | $3,332 | 6.39% |
| ROCKFORD, IL (FHA|USDA|VA) | 21 | $1,995,000 | $95,000 | $2,836 | 7.36% |
| Whitewater, WI (FHA|USDA|VA) | 15 | $1,845,000 | $123,000 | $2,494 | 7.40% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 14 | $1,590,000 | $113,571 | $3,046 | 7.50% |
| TOLEDO, OH (FHA|USDA|VA) | 15 | $1,585,000 | $105,667 | $2,616 | 7.28% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 6 | $1,540,000 | $256,667 | $3,259 | 6.40% |
| MUSKEGON, MI (FHA|USDA|VA) | 8 | $1,360,000 | $170,000 | $2,685 | 6.92% |
| AKRON, OH (FHA|USDA|VA) | 15 | $1,315,000 | $87,667 | $3,243 | 7.22% |
| Sturgis, MI (FHA|USDA|VA) | 4 | $1,130,000 | $282,500 | $5,061 | 6.19% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 6 | $1,080,000 | $180,000 | $3,751 | 6.48% |
| Mount Pleasant, MI (FHA|USDA|VA) | 6 | $1,040,000 | $173,333 | $3,671 | 6.48% |
| SAGINAW, MI (FHA|USDA|VA) | 7 | $965,000 | $137,857 | $3,486 | 6.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $5,983 | 5.31% |
| Adrian, MI (FHA|USDA|VA) | 5 | $945,000 | $189,000 | $3,700 | 7.25% |
| Coldwater, MI (FHA|USDA|VA) | 9 | $845,000 | $93,889 | $2,287 | 7.35% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $4,721 | 5.50% |
| Traverse City, MI (FHA|USDA|VA) | 4 | $790,000 | $197,500 | $4,401 | 6.56% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $6,903 | 4.69% |
| Cadillac, MI (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $5,465 | 6.29% |
| MIDLAND, MI (FHA|USDA|VA) | 5 | $595,000 | $119,000 | $2,987 | 5.60% |
| Alma, MI (FHA|USDA|VA) | 5 | $565,000 | $113,000 | $2,750 | 7.53% |
| Ludington, MI (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $4,088 | 6.71% |
| Houghton, MI (FHA|USDA|VA) | 4 | $480,000 | $120,000 | $2,964 | 6.00% |
| NILES, MI (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $3,688 | 6.19% |
| Big Rapids, MI (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $5,542 | 6.44% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $5,933 | 7.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,858 | 6.50% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,203 | 6.13% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,046 | 6.75% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,771 | 5.88% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,629 | 7.50% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,086 | 6.13% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,112 | 6.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,516 | 6.25% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,107 | 6.50% |
| BAY CITY, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,818 | 5.88% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,919 | 6.38% |
| RACINE, WI (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $1,677 | 7.94% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,982 | 7.38% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,534 | 8.63% |
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 | 1,348 | $193,370,000 | $143,450 | $3,012 | 6.92% |
| FHA | 56 | $8,810,000 | $157,321 | $7,843 | 6.99% |
| VA | 8 | $1,680,000 | $210,000 | $5,978 | 6.67% |
For 2023, Mortgage Center L.c's most frequently originated type of loan was Conventional, with 1,348 originations. Their 2nd most popular type was FHA, with 56 originations.
Loan Reason
For 2023, Mortgage Center L.c's most frequently cited loan purpose was Home Purchase, with 635 originations. The 2nd most popular reason was Other, with 564 originations.
Loan Duration/Length
For 2023, Mortgage Center L.c's most frequently cited loan duration was 30 Year, with 889 originations. The 2nd most popular length was 15 Year, with 373 originations.
Origination Fees/Closing Costs
Mortgage Center L.c's average total fees were $4,079, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 707 originations.
Interest Rates
During 2023, Mortgage Center L.c's average interest rate for loans was 6.40%, while their most frequently originated rate bucket for loans was 6-7%, with 505 originations.
Loan Sizing
2023 saw Mortgage Center L.c place emphasis on $100,000 or less loans with 623 originations, totaling $33,425,000 in origination value.
Applicant Income
Mortgage Center L.c lent most frequently to those with incomes in the $50k-75k range, with 355 originations. The second most popular income band? $100k-150k, with 316 originations.
Applicant Debt to Income Ratio
Mortgage Center L.c lent most frequently to those with DTI ratios of 20-30%, with 299 originations. The next most common DTI ratio? 30-36%, with 285 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.29%
Mortgage Center L.c has an average approval rate.
Pick Rate
Approvals leading to origination77.83%
Mortgage Center L.c has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,412 | $203,860,000 | $144,377 |