Adrian Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Adrian averaged
7.16%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
7.09% and
one month ago for the week of 2024-10-03, the
average rate was 6.09%.
Adrian's average rate one year ago was 7.93%.
For refis of the same type during the week of 2024-11-07, the average rate
was 6.89%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Adrian 30 Year Fixed Rate | 2024-11-07 | 7.16% |
| Adrian 30 Year Fixed Rate Refi | 2024-11-07 | 6.89% |
| Adrian 15 Year Fixed Rate | 2024-11-07 | 6.2% |
| Adrian 15 Year Fixed Rate Refi | 2024-11-07 | 6.4% |
| Adrian 30 Year FHA | 2024-11-07 | 6.72% |
| Adrian 30 Year FHA Refi | 2024-11-07 | 6.33% |
| Adrian 30 Year USDA | 2024-11-07 | 6.58% |
| Adrian 30 Year USDA Refi | 2024-11-07 | 6.28% |
| Adrian 30 Year VA | 2024-11-07 | 6.71% |
| Adrian 30 Year VA Refi | 2024-11-07 | 6.14% |
Adrian Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Adrian, MI market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Adrian Average Closing Costs & Other Stats
Adrian, MI's 104 lenders originated 1,877
loans during 2023. The total origination value was $279,695,000, with an average loan value of
$149,012.
Adrian's average closing costs are $4,192.
The top Adrian lender as defined by loan originations is TLC COMMUNITY Credit Union, with
103 loans originated. Their average total fees are
$2,672, which is $3,319
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Adrian lenders (with over 10 loans originated) are
TLC COMMUNITY Credit Union ($2,672), The Dart Bank ($3,065), First Federal Bank of the Midwest ($3,133), Old National Bank ($3,159) and KeyBank ($3,664).
The lowest rate Adrian lenders (with over 10 loans originated) are
The Dart Bank (6.63%), TLC COMMUNITY Credit Union (6.65%), HOWARD HANNA FINANCIAL SERVICES, INC. (6.65%), STAUNTON FINANCIAL, INC. (6.75%) and County National Bank (6.82%).
Adrian, MI Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| TLC COMMUNITY Credit Union | $38,735,000 | $27,090,000 | -30.1% | 9.7% |
| GVC MORTGAGE, INC. | $28,475,000 | $23,650,000 | -16.9% | 8.5% |
| QUICKEN LOANS, LLC | $42,010,000 | $22,450,000 | -46.6% | 8.0% |
| The Huntington National Bank | $24,785,000 | $14,395,000 | -41.9% | 5.1% |
| UNITED WHOLESALE MORTGAGE, LLC | $15,250,000 | $13,835,000 | -9.3% | 4.9% |
| Old National Bank | $24,920,000 | $13,250,000 | -46.8% | 4.7% |
| First Federal Bank of the Midwest | $24,745,000 | $13,105,000 | -47.0% | 4.7% |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $9,875,000 | $10,455,000 | 5.9% | 3.7% |
| County National Bank | $11,190,000 | $7,685,000 | -31.3% | 2.7% |
| Mortgage Research Center, LLC | $8,610,000 | $5,780,000 | -32.9% | 2.1% |
| UNION HOME MORTGAGE CORP. | $8,885,000 | $5,760,000 | -35.2% | 2.1% |
| KeyBank | $9,505,000 | $5,345,000 | -43.8% | 1.9% |
| MORTGAGE 1 INCORPORATED | $5,940,000 | $5,315,000 | -10.5% | 1.9% |
| GreenStone Farm Credit Services, FLCA | $4,935,000 | $4,745,000 | -3.9% | 1.7% |
| The Dart Bank | $3,745,000 | $4,315,000 | 15.2% | 1.5% |
| CROSSCOUNTRY MORTGAGE, LLC | $5,570,000 | $3,800,000 | -31.8% | 1.4% |
| STAUNTON FINANCIAL, INC. | $4,745,000 | $3,645,000 | -23.2% | 1.3% |
| HOWARD HANNA FINANCIAL SERVICES, INC. | $5,600,000 | $2,870,000 | -48.8% | 1.0% |
| University Bank | $1,375,000 | $2,345,000 | 70.5% | 0.8% |
| JPMorgan Chase Bank | $99,550,000 | $2,310,000 | -97.7% | 0.8% |
| First Merchants Bank | $3,295,000 | $2,190,000 | -33.5% | 0.8% |
| AMERICAN FINANCIAL NETWORK, INC. | $2,180,000 | n/a | 0.8% | |
| PNC Bank | $4,520,000 | $2,125,000 | -53.0% | 0.8% |
| PENNYMAC LOAN SERVICES, LLC | $2,370,000 | $2,095,000 | -11.6% | 0.7% |
| Southern Michigan Bank & Trust | $660,000 | $2,065,000 | 212.9% | 0.7% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,730,000 | $1,805,000 | 4.3% | 0.6% |
| Mr. Cooper ( Nationstar Mortgage ) | $4,090,000 | $1,790,000 | -56.2% | 0.6% |
| RUOFF MORTGAGE COMPANY, INC. | $4,960,000 | $1,770,000 | -64.3% | 0.6% |
| AMERISAVE MORTGAGE CORPORATION | $1,660,000 | $1,750,000 | 5.4% | 0.6% |
| Flagstar Bank, FSB | $7,705,000 | $1,675,000 | -78.3% | 0.6% |
| NAVY FEDERAL CREDIT UNION | $2,565,000 | $1,635,000 | -36.3% | 0.6% |
| U.S. Bank | $1,125,000 | $1,635,000 | 45.3% | 0.6% |
| Bank of America | $2,230,000 | $1,600,000 | -28.3% | 0.6% |
| Fifth Third Bank | $3,700,000 | $1,590,000 | -57.0% | 0.6% |
| UNIVERSITY OF MICHIGAN CREDIT UNION | $2,150,000 | $1,565,000 | -27.2% | 0.6% |
| TOWNE MORTGAGE COMPANY | $215,000 | $1,560,000 | 625.6% | 0.6% |
| Comerica Bank | $1,900,000 | $1,515,000 | -20.3% | 0.5% |
| MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $1,205,000 | $1,210,000 | 0.4% | 0.4% |
| PLAZA HOME MORTGAGE, INC. | $810,000 | $1,185,000 | 46.3% | 0.4% |
| DFCU FINANCIAL | $2,040,000 | $1,125,000 | -44.9% | 0.4% |
| Directions Credit Union, Inc. | $610,000 | $1,075,000 | 76.2% | 0.4% |
| USAA Federal Savings Bank | $1,325,000 | $1,075,000 | -18.9% | 0.4% |
| LOANDEPOT.COM, LLC | $6,450,000 | $1,070,000 | -83.4% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $2,780,000 | $1,015,000 | -63.5% | 0.4% |
| COMMUNITY FINANCIAL CREDIT UNION | $545,000 | $1,005,000 | 84.4% | 0.4% |
| Carrington Mortgage Services, LLC | $910,000 | $1,000,000 | 9.9% | 0.4% |
| MEMBER FIRST MORTGAGE, LLC | $460,000 | $995,000 | 116.3% | 0.4% |
| First Savings Bank | $605,000 | $955,000 | 57.9% | 0.3% |
| CREDIT UNION ONE | $310,000 | $950,000 | 206.5% | 0.3% |
| MORTGAGE CENTER L.C | $2,830,000 | $945,000 | -66.6% | 0.3% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $1,030,000 | $925,000 | -10.2% | 0.3% |
| The State Bank and Trust Company | $910,000 | $925,000 | 1.6% | 0.3% |
| 21ST MORTGAGE CORPORATION | $810,000 | $915,000 | 13.0% | 0.3% |
| CARDINAL FINANCIAL | $915,000 | n/a | 0.3% | |
| Wells Fargo Bank | $2,730,000 | $880,000 | -67.8% | 0.3% |
| Citizens Bank | $2,370,000 | $875,000 | -63.1% | 0.3% |
| EQUITY RESOURCES, INC. | $1,370,000 | $875,000 | -36.1% | 0.3% |
| The Union Bank Company | $245,000 | $875,000 | 257.1% | 0.3% |
| Preston Home Loans Inc | $185,000 | $820,000 | 343.2% | 0.3% |
| FIRST CHOICE MH LLC | $45,000 | $815,000 | 1,711.1% | 0.3% |
| NEWREZ LLC | $960,000 | $805,000 | -16.1% | 0.3% |
| BROKER SOLUTIONS, INC. | $1,410,000 | $785,000 | -44.3% | 0.3% |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $760,000 | $785,000 | 3.3% | 0.3% |
| Discover Bank | $225,000 | $780,000 | 246.7% | 0.3% |
| The Farmers & Merchants State Bank | $640,000 | $725,000 | 13.3% | 0.3% |
| WINGS FINANCIAL | $825,000 | $710,000 | -13.9% | 0.3% |
| BETTER MORTGAGE CORPORATION | $840,000 | $685,000 | -18.5% | 0.2% |
| NEW DAY FINANCIAL, LLC | $1,080,000 | $675,000 | -37.5% | 0.2% |
| TRIAD FINANCIAL SERVICES, INC. | $395,000 | $665,000 | 68.4% | 0.2% |
| COMMUNITY CHOICE CREDIT UNION | $425,000 | $615,000 | 44.7% | 0.2% |
| The Genoa Banking Company | $595,000 | n/a | 0.2% | |
| First Federal Savings and Loan Association of Lakewood | $1,755,000 | $545,000 | -68.9% | 0.2% |
| GENISYS | $175,000 | $545,000 | 211.4% | 0.2% |
| Coastal Community Bank | $530,000 | n/a | 0.2% | |
| CALIBER HOME LOANS, INC. | $2,710,000 | $525,000 | -80.6% | 0.2% |
| ZILLOW HOME LOANS, LLC | $380,000 | $525,000 | 38.2% | 0.2% |
| MID AMERICA MORTGAGE, INC. | $305,000 | $510,000 | 67.2% | 0.2% |
| The Federal Savings Bank | $435,000 | $510,000 | 17.2% | 0.2% |
| LAKE MICHIGAN CREDIT UNION | $2,885,000 | $490,000 | -83.0% | 0.2% |
| LIMA ONE CAPITAL, LLC | $1,180,000 | $485,000 | -58.9% | 0.2% |
| MICHIGAN MUTUAL, INC. | $1,045,000 | $485,000 | -53.6% | 0.2% |
| CONSUMERS | $205,000 | $465,000 | 126.8% | 0.2% |
| Barrington Bank & Trust Company, N.A. | $565,000 | $450,000 | -20.4% | 0.2% |
| BLG HOLDINGS, INC. | $135,000 | $440,000 | 225.9% | 0.2% |
| GUARANTEED RATE, INC. | $2,860,000 | $440,000 | -84.6% | 0.2% |
| Equity Prime Mortgage LLC | $45,000 | $435,000 | 866.7% | 0.2% |
| Bank of Ann Arbor | $2,600,000 | $405,000 | -84.4% | 0.1% |
| DELMAR FINANCIAL COMPANY | $390,000 | n/a | 0.1% | |
| MOVEMENT MORTGAGE, LLC | $540,000 | $380,000 | -29.6% | 0.1% |
| Lake Trust Credit Union | $45,000 | $375,000 | 733.3% | 0.1% |
| American 1 Credit Union | $370,000 | n/a | 0.1% | |
| SUCCESS MORTGAGE PARTNERS, INC. | $690,000 | $370,000 | -46.4% | 0.1% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $1,250,000 | $365,000 | -70.8% | 0.1% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $95,000 | $355,000 | 273.7% | 0.1% |
| SUN Federal Credit Union | $355,000 | $355,000 | 0.0% | 0.1% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $805,000 | $330,000 | -59.0% | 0.1% |
| MICHIGAN SCHOOLS AND GOVERNMENT | $320,000 | n/a | 0.1% | |
| Figure Lending LLC | $390,000 | $315,000 | -19.2% | 0.1% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $360,000 | $310,000 | -13.9% | 0.1% |
| 1st State Financial, Ltd. | $295,000 | $305,000 | 3.4% | 0.1% |
| MARSHALL COMMUNITY CREDIT UNION | $305,000 | n/a | 0.1% | |
| Northpointe Bank | $455,000 | $305,000 | -33.0% | 0.1% |
| Mercantile Bank of Michigan | $295,000 | n/a | 0.1% | |
| ASSEMBLIES OF GOD Credit Union | $285,000 | n/a | 0.1% | |
| DAS Acquisition Company, LLC | $275,000 | n/a | 0.1% | |
| The Old Fort Banking Company | $275,000 | n/a | 0.1% | |
| Farmers Bank & Trust | $255,000 | n/a | 0.1% | |
| MICHIGAN FIRST CREDIT UNION | $870,000 | $250,000 | -71.3% | 0.1% |
| Arvest Bank | $245,000 | n/a | 0.1% | |
| Independent Bank | $530,000 | $245,000 | -53.8% | 0.1% |
| Waterford Bank, N.A. | $1,515,000 | $235,000 | -84.5% | 0.1% |
| PHH Mortgage Corporation | $265,000 | $230,000 | -13.2% | 0.1% |
| EMM LOANS LLC | $225,000 | n/a | 0.1% | |
| Truist | $225,000 | n/a | 0.1% | |
| LENDINGHOME FUNDING CORPORATION | $220,000 | n/a | 0.1% | |
| INTERSTATE HOME LOAN CENTER, INC. | $215,000 | n/a | 0.1% | |
| UNITED | $215,000 | n/a | 0.1% | |
| Honor Credit Union | $85,000 | $205,000 | 141.2% | 0.1% |
| Platinum Home Mortgage Corporation | $810,000 | $205,000 | -74.7% | 0.1% |
| The Croghan Colonial Bank | $205,000 | n/a | 0.1% | |
| LAKEVIEW LOAN SERVICING, LLC | $1,795,000 | $195,000 | -89.1% | 0.1% |
| CORNERSTONE HOME LENDING, INC. | $185,000 | n/a | 0.1% | |
| First State Bank | $185,000 | n/a | 0.1% | |
| DIAMOND RESIDENTIAL MORTGAGE CORPORATION | $175,000 | n/a | 0.1% | |
| Providence Bank & Trust | $175,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $440,000 | $175,000 | -60.2% | 0.1% |
| Waterstone Mortgage Corporation | $405,000 | $175,000 | -56.8% | 0.1% |
| Centier Bank | $100,000 | $165,000 | 65.0% | 0.1% |
| NexBank | $165,000 | n/a | 0.1% | |
| The Loan Store, Inc. | $165,000 | n/a | 0.1% | |
| CMG MORTGAGE, INC. | $115,000 | $155,000 | 34.8% | 0.1% |
| HOMEXPRESS MORTGAGE CORP. | $145,000 | n/a | 0.1% | |
| Nations Lending Corporation | $450,000 | $145,000 | -67.8% | 0.1% |
| Third Federal Savings and Loan Association of Cleveland | $145,000 | n/a | 0.1% | |
| Bank of England | $135,000 | n/a | 0.0% | |
| EVERETT FINANCIAL, INC. | $1,590,000 | $135,000 | -91.5% | 0.0% |
| NORTHERN MORTGAGE SERVICES, LLC | $155,000 | $135,000 | -12.9% | 0.0% |
| Paramount Residential Mortgage Group, Inc. | $425,000 | $135,000 | -68.2% | 0.0% |
| Summit Mortgage Corporation | $135,000 | n/a | 0.0% | |
| United Bay Community Credit Union | $135,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $165,000 | $130,000 | -21.2% | 0.0% |
| KALSEE CREDIT UNION | $125,000 | n/a | 0.0% | |
| MMS MORTGAGE SERVICES, LTD. | $125,000 | n/a | 0.0% | |
| Zeal Credit Union | $50,000 | $125,000 | 150.0% | 0.0% |
| PARKSIDE | $120,000 | n/a | 0.0% | |
| Baxter Credit Union | $235,000 | $115,000 | -51.1% | 0.0% |
| Bethpage Federal Credit Union | $105,000 | n/a | 0.0% | |
| Eaton Community Bank | $265,000 | $105,000 | -60.4% | 0.0% |
| FINANCE OF AMERICA REVERSE LLC | $105,000 | n/a | 0.0% | |
| First National Bank of America | $95,000 | $105,000 | 10.5% | 0.0% |
| RESIDENTIAL BANCORP | $105,000 | n/a | 0.0% | |
| VILLAGE CAPITAL MORTGAGE | $235,000 | $95,000 | -59.6% | 0.0% |
| AmeriHome Mortgage Company, LLC | $640,000 | $75,000 | -88.3% | 0.0% |
| PLANET HOME LENDING, LLC | $75,000 | n/a | 0.0% | |
| ARBOR FINANCIAL CREDIT UNION | $65,000 | n/a | 0.0% | |
| VIBE CREDIT UNION | $175,000 | $65,000 | -62.9% | 0.0% |
| ADVIA | $55,000 | n/a | 0.0% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $55,000 | n/a | 0.0% | |
| GENEVA FINANCIAL, LLC | $85,000 | $55,000 | -35.3% | 0.0% |
| NEW ENGLAND FEDERAL CREDIT UNION | $400,000 | $55,000 | -86.3% | 0.0% |
| Parda Federal Credit Union | $55,000 | n/a | 0.0% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $35,000 | n/a | 0.0% | |
| QUORUM FEDERAL CREDIT UNION | $35,000 | n/a | 0.0% | |
| Superior Credit Union, Inc. | $35,000 | n/a | 0.0% | |
| First Independence Bank | $15,000 | n/a | 0.0% | |
| GreenStone Farm Credit Services, ACA | $15,000 | n/a | 0.0% | |
| Michigan Educational Credit Union | $870,000 | $15,000 | -98.3% | 0.0% |
| MONROE COUNTY COMMUNITY CREDIT UNION | $195,000 | $15,000 | -92.3% | 0.0% |
Adrian's top lender by overall market share is TLC COMMUNITY Credit Union, with 9.7% market share. In second place, with 8.5%, is GVC MORTGAGE, INC., having originated $23,650,000 in loans. In third place, with 8.0%, is QUICKEN LOANS, LLC, having originated $22,450,000 in loans. In fourth place, with 5.1%, is The Huntington National Bank, having originated $14,395,000 in loans. In fifth place, with 4.9%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $13,835,000 in loans.
Adrian, MI Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,010 | $198,410,000 | $196,446 |
| Cash Out Refi | 415 | $42,115,000 | $101,482 |
| Home Improvement | 167 | $10,765,000 | $64,461 |
| Other | 153 | $11,405,000 | $74,542 |
| Refi | 132 | $17,000,000 | $128,788 |
Adrian's most frequently cited loan purpose was Home Purchase, with 1,010 originations. The 2nd most popular reason was Cash Out Refi, with 415 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 661 | $119,045,000 | $180,098 |
| 7-8% | 543 | $86,495,000 | $159,291 |
| Over 8% | 437 | $31,695,000 | $72,529 |
| 5-6% | 195 | $33,045,000 | $169,462 |
| 4-5% | 14 | $2,510,000 | $179,286 |
| <2.5% | 4 | $40,000 | $10,000 |
| 3-4% | 2 | $150,000 | $75,000 |
| 2.5-3% | 2 | $490,000 | $245,000 |
During 2023, Adrian's most frequently originated rate bucket was 6-7%, with 661 originations.
Loan Sizing (Adrian, MI MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 722 | $37,620,000 | $52,105 |
| $100k-200k | 700 | $103,100,000 | $147,286 |
| $200k-400k | 395 | $104,695,000 | $265,051 |
| $400k-600k | 50 | $23,480,000 | $469,600 |
| $600k-1000k | 7 | $4,905,000 | $700,714 |
| $Over $1MM | 3 | $5,895,000 | $1,965,000 |
Adrian's loan sizing saw the bucket of loans from $100,000 or less with 722 originations, totaling $37,620,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 736 | $144,130,000 | $195,829 |
| 60-80% | 353 | $64,715,000 | $183,329 |
| Under 20% | 297 | $10,565,000 | $35,572 |
| 20-40% | 273 | $21,015,000 | $76,978 |
| 40-60% | 177 | $27,475,000 | $155,226 |
| Over 100% | 18 | $4,510,000 | $250,556 |
Adrian's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 736 originations, totaling $144,130,000 in origination value.