Alpena Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Alpena averaged
6.82%
for the week of 2025-06-18, compared to the national average of
6.81% for the same period.
The average rate for the prior week (2025-06-12) was
6.85% and
one month ago for the week of 2025-05-15, the
average rate was 6.82%.
Alpena's average rate one year ago was 7.16%.
For refis of the same type during the week of 2025-06-18, the average rate
was 7.31%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Alpena 30 Year Fixed Rate | 2025-06-18 | 6.82% |
| Alpena 30 Year Fixed Rate Refi | 2025-06-18 | 7.31% |
| Alpena 15 Year Fixed Rate | 2025-06-18 | 5.86% |
| Alpena 15 Year Fixed Rate Refi | 2025-06-18 | 5.96% |
| Alpena 30 Year FHA | 2025-06-18 | -0.1% |
| Alpena 30 Year FHA Refi | 2025-06-18 | -0.1% |
| Alpena 30 Year USDA | 2025-06-18 | 0.1% |
| Alpena 30 Year USDA Refi | 2025-06-18 | 0.1% |
| Alpena 30 Year VA | 2025-06-18 | -0.1% |
| Alpena 30 Year VA Refi | 2025-06-18 | -0.2% |
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.).
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, 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.