Alpena Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Alpena averaged 6.85% for the week of 2025-04-03, compared to the national average of 6.64% for the same period.

    The average rate for the prior week (2025-03-27) was 6.86% and one month ago for the week of 2025-02-27, the average rate was 7.07%.

    Alpena's average rate one year ago was 6.8%.

    For refis of the same type during the week of 2025-04-03, the average rate was 6.74%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-04-03 6.64%
    Alpena 30 Year Fixed Rate 2025-04-03 6.85%
    Alpena 30 Year Fixed Rate Refi 2025-04-03 6.74%
    Alpena 15 Year Fixed Rate 2025-04-03 6.02%
    Alpena 15 Year Fixed Rate Refi 2025-04-03 6.32%
    Alpena 30 Year FHA 2025-04-03 6.26%
    Alpena 30 Year FHA Refi 2025-04-03 6.26%
    Alpena 30 Year USDA 2025-04-03 6.52%
    Alpena 30 Year USDA Refi 2025-04-03 6.42%
    Alpena 30 Year VA 2025-04-03 5.96%
    Alpena 30 Year VA Refi 2025-04-03 6.26%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Alpena, MI.

    Alpena 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 Alpena, 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.).

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 26 6.91% $5,054
    STAUNTON FINANCIAL, INC. 21 6.53% $3,538
    UNITED WHOLESALE MORTGAGE, LLC 20 6.83% $4,887
    Nicolet National Bank 8 6.78% $2,827
    The Huntington National Bank 7 7.16% $3,415
    COMMUNITY FINANCIAL CREDIT UNION 7 6.73% $3,095
    PNC Bank 2 6.69% $4,337
    BROKER SOLUTIONS, INC. 2 7.13% $4,405
    LAKE MICHIGAN CREDIT UNION 2 6.94% $3,209
    GENISYS 2 6.63% $3,159
    The Dart Bank 2 6.88% $3,745
    MORTGAGE 1 INCORPORATED 1 7.38% $5,932
    Mortgage Research Center, LLC 1 6.99% $3,777
    NEWREZ LLC 1 7.38% $3,743
    PHH Mortgage Corporation 1 6.63% $9,228
    STOCKTON MORTGAGE CORPORATION 1 7.88% $7,640
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $6,696
    THE ANDERSON FINANCIAL GROUP, INC. 1 7.99% $9,404
    UNION HOME MORTGAGE CORP. 1 7.13% $6,381
    USAA Federal Savings Bank 1 6.88% $4,296
    A&D Mortgage LLC 1 7.49% $8,667
    Wells Fargo Bank 1 7.25% $3,222
    Carrington Mortgage Services, LLC 1 6.13% $5,464
    Century Mortgage Company DBA Century Lending Company 1 6.99% $7,360
    CHURCHILL MORTGAGE CORPORATION 1 6.75% $4,778
    DFCU FINANCIAL 1 6.88% $2,924
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.38% $3,977
    First Merchants Bank 1 7.50% $4,169
    GUARANTEED RATE, INC. 1 6.88% $4,859
    GUILD MORTGAGE COMPANY 1 7.63% $7,366
    Mercantile Bank of Michigan 1 7.00% $2,511
    MMS MORTGAGE SERVICES, LTD. 1 7.62% $5,726

    Alpena Average Closing Costs & Other Stats

    Alpena, MI's 32 lenders originated 326 loans during 2024. The total origination value was $45,990,000, with an average loan value of $141,074.

    Alpena's average closing costs are $3,973.

    The top Alpena lender as defined by loan originations is QUICKEN LOANS, LLC, with 26 loans originated. Their average total fees are $5,054, which is $1,516 higher than the next largest lender, STAUNTON FINANCIAL, INC..

    The lowest fee Alpena lenders (with over 10 loans originated) are STAUNTON FINANCIAL, INC. ($3,538), UNITED WHOLESALE MORTGAGE, LLC ($4,887), QUICKEN LOANS, LLC ($5,054), .

    The lowest rate Alpena lenders (with over 10 loans originated) are STAUNTON FINANCIAL, INC. (6.53%), UNITED WHOLESALE MORTGAGE, LLC (6.83%), QUICKEN LOANS, LLC (6.91%), .

    Alpena, 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 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
    QUICKEN LOANS, LLC $6,270,000 $7,425,000 18.4% 16.1%
    UNITED WHOLESALE MORTGAGE, LLC $2,130,000 $5,140,000 141.3% 11.2%
    STAUNTON FINANCIAL, INC. $3,015,000 $4,185,000 38.8% 9.1%
    The Huntington National Bank $3,575,000 $3,580,000 0.1% 7.8%
    Mortgage Research Center, LLC $1,420,000 $3,300,000 132.4% 7.2%
    Nicolet National Bank $2,865,000 $2,070,000 -27.7% 4.5%
    PNC Bank $640,000 $1,960,000 206.3% 4.3%
    GreenStone Farm Credit Services, FLCA $1,090,000 $1,475,000 35.3% 3.2%
    COMMUNITY FINANCIAL CREDIT UNION $1,115,000 $1,230,000 10.3% 2.7%
    NEW DAY FINANCIAL, LLC $300,000 $710,000 136.7% 1.5%
    BROKER SOLUTIONS, INC. $345,000 $690,000 100.0% 1.5%
    Mr. Cooper ( Nationstar Mortgage ) $860,000 $670,000 -22.1% 1.5%
    SUCCESS MORTGAGE PARTNERS, INC. $480,000 $565,000 17.7% 1.2%
    LENDINGHOME FUNDING CORPORATION $545,000 $540,000 -0.9% 1.2%
    LOANDEPOT.COM, LLC $195,000 $535,000 174.4% 1.2%
    USAA Federal Savings Bank $560,000 $515,000 -8.0% 1.1%
    LAKE MICHIGAN CREDIT UNION $230,000 $485,000 110.9% 1.1%
    UNION HOME MORTGAGE CORP. $560,000 $460,000 -17.9% 1.0%
    MMS MORTGAGE SERVICES, LTD. $395,000 n/a 0.9%
    Carrington Mortgage Services, LLC $135,000 $315,000 133.3% 0.7%
    First Independence Bank $285,000 n/a 0.6%
    First Merchants Bank $285,000 n/a 0.6%
    PENNYMAC LOAN SERVICES, LLC $560,000 $285,000 -49.1% 0.6%
    NEWREZ LLC $165,000 $280,000 69.7% 0.6%
    GUILD MORTGAGE COMPANY $275,000 n/a 0.6%
    CREDIT UNION ONE $160,000 $265,000 65.6% 0.6%
    DOMINION FINANCIAL SERVICES, LLC $265,000 n/a 0.6%
    The Dart Bank $260,000 n/a 0.6%
    MICHIGAN FIRST CREDIT UNION $255,000 n/a 0.6%
    PHH Mortgage Corporation $255,000 n/a 0.6%
    VIBE CREDIT UNION $255,000 n/a 0.6%
    THE ANDERSON FINANCIAL GROUP, INC. $245,000 n/a 0.5%
    GENISYS $315,000 $230,000 -27.0% 0.5%
    Figure Lending LLC $220,000 n/a 0.5%
    DFCU FINANCIAL $75,000 $205,000 173.3% 0.4%
    FREEDOM MORTGAGE CORPORATION $265,000 $185,000 -30.2% 0.4%
    MEMBER FIRST MORTGAGE, LLC $170,000 n/a 0.4%
    Century Mortgage Company DBA Century Lending Company $165,000 n/a 0.4%
    LOANPAL, LLC $160,000 n/a 0.3%
    21ST MORTGAGE CORPORATION $155,000 n/a 0.3%
    GUARANTEED RATE, INC. $145,000 n/a 0.3%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $145,000 n/a 0.3%
    Northstar Bank $145,000 n/a 0.3%
    Discover Bank $55,000 $140,000 154.5% 0.3%
    LAKEVIEW LOAN SERVICING, LLC $330,000 $135,000 -59.1% 0.3%
    MORTGAGE 1 INCORPORATED $105,000 $135,000 28.6% 0.3%
    RUOFF MORTGAGE COMPANY, INC. $235,000 $135,000 -42.6% 0.3%
    A&D Mortgage LLC $125,000 n/a 0.3%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $125,000 n/a 0.3%
    Wildfire Credit Union $125,000 n/a 0.3%
    Fifth Third Bank $515,000 $115,000 -77.7% 0.3%
    SPRING EQ, LLC $115,000 n/a 0.3%
    BLG HOLDINGS, INC. $105,000 n/a 0.2%
    ROYAL UNITED MORTGAGE LLC $85,000 $105,000 23.5% 0.2%
    STOCKTON MORTGAGE CORPORATION $105,000 n/a 0.2%
    Mercantile Bank of Michigan $165,000 $85,000 -48.5% 0.2%
    Wells Fargo Bank $115,000 $85,000 -26.1% 0.2%
    CHURCHILL MORTGAGE CORPORATION $155,000 $75,000 -51.6% 0.2%
    J. VIRGIL, INC. $95,000 $65,000 -31.6% 0.1%
    BMO Harris Bank $45,000 n/a 0.1%
    TEAM ONE CREDIT UNION $45,000 n/a 0.1%
    U.S. Bank $45,000 n/a 0.1%
    Bank of America $85,000 $25,000 -70.6% 0.1%

    Alpena's top lender by overall market share is QUICKEN LOANS, LLC, with 16.1% market share. In second place, with 11.2%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $5,140,000 in loans. In third place, with 9.1%, is STAUNTON FINANCIAL, INC., having originated $4,185,000 in loans. In fourth place, with 7.8%, is The Huntington National Bank, having originated $3,580,000 in loans. In fifth place, with 7.2%, is Mortgage Research Center, LLC, having originated $3,300,000 in loans.

    Alpena Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Alpena (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $105,000 (7.0%) $155,485 (33.6%) 0.00 180
    2018-02-01 $100,300 (1.3%) $156,760 (30.8%) 0.00 185
    2018-03-01 $99,900 (-3.9%) $156,418 (24.7%) 0.00 186
    2018-04-01 $105,750 (-2.9%) $164,573 (24.7%) 0.00 188
    2018-05-01 $106,975 (-6.6%) $168,585 (18.8%) 0.00 185
    2018-06-01 $114,900 (4.8%) $170,111 (18.5%) 0.00 205
    2018-07-01 $119,900 (9.1%) $169,178 (16.1%) 0.00 228
    2018-08-01 $119,500 (9.0%) $164,752 (16.7%) 0.00 229
    2018-09-01 $119,900 (7.2%) $168,011 (19.8%) 0.00 221
    2018-10-01 $119,700 (8.9%) $171,342 (6.6%) 0.00 212
    2018-11-01 $119,450 (15.0%) $172,919 (9.3%) 0.00 205
    2018-12-01 $119,900 (10.3%) $174,831 (14.1%) 0.00 182
    2019-01-01 $124,925 (19.0%) $190,342 (22.4%) 0.00 151
    2019-02-01 $121,200 (20.8%) $196,291 (25.2%) 0.00 140
    2019-03-01 $118,336 (18.5%) $195,321 (24.9%) 0.00 130
    2019-04-01 $119,311 (12.8%) $196,529 (19.4%) 0.00 123
    2019-05-01 $123,700 (15.6%) $192,702 (14.3%) 0.00 145
    2019-06-01 $129,900 (13.1%) $187,825 (10.4%) 0.00 160
    2019-07-01 $129,050 (7.6%) $188,673 (11.5%) 0.00 169
    2019-08-01 $128,282 (7.4%) $187,783 (14.0%) 0.00 176
    2019-09-01 $128,405 (7.1%) $188,626 (12.3%) 0.00 190
    2019-10-01 $127,486 (6.5%) $194,278 (13.4%) 0.00 197
    2019-11-01 $125,200 (4.8%) $203,244 (17.5%) 0.00 176
    2019-12-01 $124,200 (3.6%) $205,680 (17.7%) 0.00 168
    2020-01-01 $124,200 (-0.6%) $206,425 (8.5%) 0.00 144
    2020-02-01 $128,950 (6.4%) $204,140 (4.0%) 0.00 127
    2020-03-01 $130,975 (10.7%) $214,430 (9.8%) 0.00 110
    2020-04-01 $134,900 (13.1%) $219,502 (11.7%) 0.00 103
    2020-05-01 $138,000 (11.6%) $228,516 (18.6%) 0.00 98
    2020-06-01 $147,025 (13.2%) $230,784 (22.9%) 0.00 108
    2020-07-01 $154,900 (20.0%) $252,830 (34.0%) 0.00 96
    2020-08-01 $173,250 (35.1%) $270,479 (44.0%) 0.00 73
    2020-09-01 $129,000 (0.5%) $251,949 (33.6%) 0.00 72
    2020-10-01 $139,500 (9.4%) $262,349 (35.0%) 0.00 68
    2020-11-01 $141,400 (12.9%) $211,083 (3.9%) 0.00 63
    2020-12-01 $142,150 (14.5%) $208,827 (1.5%) 0.00 55
    2021-01-01 $137,400 (10.6%) $203,263 (-1.5%) 0.00 52
    2021-02-01 $151,175 (17.2%) $231,030 (13.2%) 0.00 45
    2021-03-01 $161,950 (23.7%) $246,119 (14.8%) 0.00 37
    2021-04-01 $189,000 (40.1%) $250,495 (14.1%) 0.00 27
    2021-05-01 $155,000 (12.3%) $206,009 (-9.9%) 0.00 34
    2021-06-01 $149,450 (1.7%) $210,022 (-9.0%) 0.00 43
    2021-07-01 $176,950 (14.2%) $264,241 (4.5%) 0.00 45
    2021-08-01 $149,600 (-13.7%) $228,220 (-15.6%) 0.00 44
    2021-09-01 $157,225 (21.9%) $276,290 (9.7%) 0.00 51
    2021-10-01 $147,000 (5.4%) $266,429 (1.6%) 0.00 36
    2021-11-01 $136,900 (-3.2%) $244,219 (15.7%) 0.00 40
    2021-12-01 $136,425 (-4.0%) $247,048 (18.3%) 0.00 41
    2022-01-01 $135,000 (-1.8%) $277,625 (36.6%) 0.00 36
    2022-02-01 $152,450 (0.8%) $334,436 (44.8%) 0.00 31
    2022-03-01 $161,725 (-0.1%) $341,337 (38.7%) 0.00 33
    2022-04-01 $167,400 (-11.4%) $900,562 (259.5%) 0.00 34
    2022-05-01 $149,900 (-3.3%) $858,674 (316.8%) 0.00 37
    2022-06-01 $157,725 (5.5%) $795,318 (278.7%) 0.00 41
    2022-07-01 $149,900 (-15.3%) $623,790 (136.1%) 0.00 59
    2022-08-01 $166,225 (11.1%) $704,196 (208.6%) 0.00 57
    2022-09-01 $172,900 (10.0%) $672,455 (143.4%) 0.00 54
    2022-10-01 $169,000 (15.0%) $721,994 (171.0%) 0.00 46
    2022-11-01 $174,925 (27.8%) $762,510 (212.2%) 0.00 44
    2022-12-01 $185,000 (35.6%) $845,899 (242.4%) 0.00 39
    2023-01-01 $181,600 (34.5%) $839,027 (202.2%) 0.00 38
    2023-02-01 $173,550 (13.8%) $1,020,259 (205.1%) 0.00 31
    2023-03-01 $211,000 (30.5%) $1,121,624 (228.6%) 0.00 29
    2023-04-01 $215,000 (28.4%) $976,343 (8.4%) 0.00 27
    2023-05-01 $230,500 (53.8%) $935,097 (8.9%) 0.00 30
    2023-06-01 $228,125 (44.6%) $756,195 (-4.9%) 0.00 42
    2023-07-01 $249,999 (66.8%) $737,998 (18.3%) 0.00 44
    2023-08-01 $244,700 (47.2%) $863,007 (22.6%) 0.00 36
    2023-09-01 $219,900 (27.2%) $772,550 (14.9%) 0.00 47
    2023-10-01 $207,388 (22.7%) $751,553 (4.1%) 0.00 49
    2023-11-01 $189,225 (8.2%) $820,986 (7.7%) 0.00 43
    2023-12-01 $199,950 (8.1%) $931,189 (10.1%) 0.00 31
    2024-01-01 $240,750 (32.6%) $1,039,527 (23.9%) 0.00 27
    2024-02-01 $229,000 (32.0%) $1,141,127 (11.9%) 0.00 25
    2024-03-01 $179,900 (-14.7%) $1,004,490 (-10.4%) 0.00 31
    2024-04-01 $190,700 (-11.3%) $960,111 (-1.7%) 0.00 33
    2024-05-01 $179,900 (-22.0%) $804,062 (-14.0%) 0.00 40
    2024-06-01 $179,900 (-21.1%) $639,235 (-15.5%) 0.00 51
    2024-07-01 $199,700 (-20.1%) $646,241 (-12.4%) 0.00 56
    2024-08-01 $182,450 (-25.4%) $556,319 (-35.5%) 0.00 65
    2024-09-01 $218,450 (-0.7%) $536,340 (-30.6%) 0.00 66
    2024-10-01 $223,712 (7.9%) $561,716 (-25.3%) 0.00 62
    2024-11-01 $229,900 (21.5%) $520,847 (-36.6%) 0.00 57
    2024-12-01 $209,975 (5.0%) $500,115 (-46.3%) 0.00 52
    2025-01-01 $212,075 (-11.9%) $550,996 (-47.0%) 0.00 44
    2025-02-01 $216,663 (-5.4%) $564,722 (-50.5%) 0.00 43
    2025-03-01 $203,500 (13.1%) $563,989 (-43.9%) 0.00 40
    Alpena's median listing price for 2025-03-01 was $203,500, a difference of $23,600 (13.1%) versus the prior year and $-13,163 versus the prior month.

    Alpena's median listing price comes in at 0% of the national average.

    Alpena's average listing price for 2025-03-01 was $563,989, a difference of $-440,501 (-43.9%) versus the prior year and $-733 versus the prior month.

    For the 2025-03-01 period, Alpena had 40 MLS listings, a difference of -3 listings (-7%) versus the prior month and 9 listings (29%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Alpena (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,538 sqft
    2018-02-01 0 days 1,572 sqft
    2018-03-01 0 days 1,596 sqft
    2018-04-01 0 days 1,565 sqft
    2018-05-01 0 days 1,532 sqft
    2018-06-01 0 days 1,539 sqft
    2018-07-01 0 days 1,570 sqft
    2018-08-01 0 days 1,600 sqft
    2018-09-01 0 days 1,622 sqft
    2018-10-01 0 days 1,628 sqft
    2018-11-01 0 days 1,564 sqft
    2018-12-01 0 days 1,571 sqft
    2019-01-01 0 days 1,620 sqft
    2019-02-01 0 days 1,579 sqft
    2019-03-01 0 days 1,549 sqft
    2019-04-01 0 days 1,531 sqft
    2019-05-01 0 days 1,560 sqft
    2019-06-01 0 days 1,600 sqft
    2019-07-01 0 days 1,651 sqft
    2019-08-01 0 days 1,695 sqft
    2019-09-01 0 days 1,723 sqft
    2019-10-01 0 days 1,744 sqft
    2019-11-01 0 days 1,828 sqft
    2019-12-01 0 days 1,900 sqft
    2020-01-01 0 days 1,900 sqft
    2020-02-01 0 days 1,890 sqft
    2020-03-01 0 days 1,921 sqft
    2020-04-01 0 days 1,984 sqft
    2020-05-01 0 days 1,992 sqft
    2020-06-01 0 days 1,847 sqft
    2020-07-01 0 days 1,892 sqft
    2020-08-01 0 days 1,816 sqft
    2020-09-01 0 days 1,761 sqft
    2020-10-01 0 days 1,787 sqft
    2020-11-01 0 days 1,818 sqft
    2020-12-01 0 days 1,812 sqft
    2021-01-01 0 days 1,842 sqft
    2021-02-01 0 days 1,824 sqft
    2021-03-01 0 days 1,705 sqft
    2021-04-01 0 days 1,824 sqft
    2021-05-01 0 days 1,632 sqft
    2021-06-01 0 days 1,650 sqft
    2021-07-01 0 days 1,815 sqft
    2021-08-01 0 days 1,738 sqft
    2021-09-01 0 days 1,835 sqft
    2021-10-01 0 days 1,795 sqft
    2021-11-01 0 days 1,790 sqft
    2021-12-01 0 days 1,705 sqft
    2022-01-01 0 days 1,743 sqft
    2022-02-01 0 days 1,695 sqft
    2022-03-01 0 days 1,572 sqft
    2022-04-01 0 days 1,678 sqft
    2022-05-01 0 days 1,774 sqft
    2022-06-01 0 days 1,683 sqft
    2022-07-01 0 days 1,768 sqft
    2022-08-01 0 days 1,870 sqft
    2022-09-01 0 days 1,853 sqft
    2022-10-01 0 days 1,750 sqft
    2022-11-01 0 days 1,749 sqft
    2022-12-01 0 days 1,804 sqft
    2023-01-01 0 days 1,775 sqft
    2023-02-01 0 days 1,906 sqft
    2023-03-01 0 days 1,751 sqft
    2023-04-01 0 days 1,800 sqft
    2023-05-01 0 days 1,871 sqft
    2023-06-01 0 days 1,690 sqft
    2023-07-01 0 days 1,864 sqft
    2023-08-01 0 days 1,905 sqft
    2023-09-01 0 days 1,842 sqft
    2023-10-01 0 days 1,821 sqft
    2023-11-01 0 days 1,760 sqft
    2023-12-01 0 days 2,060 sqft
    2024-01-01 0 days 2,235 sqft
    2024-02-01 0 days 1,885 sqft
    2024-03-01 0 days 1,768 sqft
    2024-04-01 0 days 1,764 sqft
    2024-05-01 0 days 1,748 sqft
    2024-06-01 0 days 1,680 sqft
    2024-07-01 0 days 1,734 sqft
    2024-08-01 0 days 1,690 sqft
    2024-09-01 0 days 1,692 sqft
    2024-10-01 0 days 1,728 sqft
    2024-11-01 0 days 1,728 sqft
    2024-12-01 0 days 1,660 sqft
    2025-01-01 0 days 1,634 sqft
    2025-02-01 0 days 1,625 sqft
    2025-03-01 0 days 1,620 sqft
    Alpena's median listing age (time on market) for 2025-03-01 was 0 days.

    Alpena's median square footage for active listings during the 2025-03-01 period was 1,620 sqft. One year prior, the average listing was 1,768 sqft.

    Alpena, MI Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 179 $29,475,000 $164,665
    Cash Out Refi 54 $7,570,000 $140,185
    Other 42 $3,680,000 $87,619
    Home Improvement 28 $2,280,000 $81,429
    Refi 23 $2,985,000 $129,783

    Alpena's most frequently cited loan purpose was Home Purchase, with 179 originations. The 2nd most popular reason was Cash Out Refi, with 54 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 145 $22,055,000 $152,103
    7-8% 73 $11,675,000 $159,932
    Over 8% 65 $5,905,000 $90,846
    5-6% 33 $5,525,000 $167,424
    <2.5% 5 $25,000 $5,000
    4-5% 1 $205,000 $205,000

    During 2024, Alpena's most frequently originated rate bucket was 6-7%, with 145 originations.

    Loan Sizing (Alpena, MI MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 147 $20,445,000 $139,082
    $100,000 or less 110 $6,380,000 $58,000
    $200k-400k 66 $17,890,000 $271,061
    $400k-600k 3 $1,275,000 $425,000

    Alpena's loan sizing saw the bucket of loans from $100k-200k with 147 originations, totaling $20,445,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 130 $23,310,000 $179,308
    60-80% 85 $13,065,000 $153,706
    20-40% 43 $2,765,000 $64,302
    40-60% 29 $3,945,000 $136,034
    Under 20% 28 $950,000 $33,929
    Over 100% 3 $705,000 $235,000

    Alpena's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 130 originations, totaling $23,310,000 in origination value.