Eastern Michigan Bank Mortgage Rates, Fees & Info
Croswell, MILEI: 549300ZATTFRM57YVB31
Tax ID: 38-1066390
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Eastern Michigan Bank is a smaller bank specializing in Refi loans. Eastern Michigan Bank has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Ann Arbor, and Columbus among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Eastern Michigan Bank has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
50Origination Dollar Volume (All Markets)
$16,630,000Top 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) | 24 | $13,320,000 | $555,000 | $0 | 0.00% |
| Outside of Metro Areas | 24 | $2,540,000 | $105,833 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 0.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 50 | $16,630,000 | $332,600 | $0 | 0.00% |
For 2022, Eastern Michigan Bank's most frequently originated type of loan was Conventional, with 50 originations.
Loan Reason
For 2022, Eastern Michigan Bank's most frequently cited loan purpose was Home Purchase, with 13 originations. The 2nd most popular reason was Refi, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 50 | $16,630,000 | $332,600 | $0 | 0.00% |
For 2022, Eastern Michigan Bank's most frequently cited loan duration was Other, with 50 originations.
Loan Sizing
2022 saw Eastern Michigan Bank place emphasis on $100k-200k loans with 20 originations, totaling $2,780,000 in origination value.
Applicant Income
Eastern Michigan Bank lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $100k-150k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 50 | $16,630,000 | $332,600 | $0 | 0.00% |
Eastern Michigan Bank lent most frequently to those with DTI ratios of Exempt%, with 50 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications73.49%
Eastern Michigan Bank has a below average approval rate.
Pick Rate
Approvals leading to origination90.00%
Eastern Michigan Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 50 | $16,630,000 | $332,600 |