ANN ARBOR Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Ann Arbor averaged
6.65%
for the week of 2024-07-18, compared to the national average of
6.77% for the same period.
The average rate for the prior week (2024-07-11) was
6.87% and
one month ago for the week of 2024-06-13, the
average rate was 6.83%.
Ann Arbor's average rate one year ago was 6.94%.
For refis of the same type during the week of 2024-07-18, the average rate
was 6.68%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-07-18 | 6.77% |
| Ann Arbor 30 Year Fixed Rate | 2024-07-18 | 6.65% |
| Ann Arbor 30 Year Fixed Rate Refi | 2024-07-18 | 6.68% |
| Ann Arbor 15 Year Fixed Rate | 2024-07-18 | 6.58% |
| Ann Arbor 15 Year Fixed Rate Refi | 2024-07-18 | 6.45% |
| Ann Arbor 30 Year FHA | 2024-07-18 | 6.34% |
| Ann Arbor 30 Year FHA Refi | 2024-07-18 | 6.49% |
| Ann Arbor 30 Year USDA | 2024-07-18 | 6.63% |
| Ann Arbor 30 Year USDA Refi | 2024-07-18 | 6.73% |
| Ann Arbor 30 Year VA | 2024-07-18 | 6.1% |
| Ann Arbor 30 Year VA Refi | 2024-07-18 | 6.4% |
ANN ARBOR 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 ANN ARBOR, 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.).
ANN ARBOR Average Closing Costs & Other Stats
ANN ARBOR, MI's 179 lenders originated 5,716
loans during 2023. The total origination value was $2,059,910,000, with an average loan value of
$360,376.
ANN ARBOR's average closing costs are $4,012.
The top ANN ARBOR lender as defined by loan originations is QUICKEN LOANS, LLC, with
253 loans originated. Their average total fees are
$6,136, which is $538
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee ANN ARBOR lenders (with over 10 loans originated) are
PULTE MORTGAGE LLC ($2,516), UNIVERSITY OF MICHIGAN CREDIT UNION ($3,046), Bank of America ($3,100), MICHIGAN SCHOOLS AND GOVERNMENT ($3,133) and The Dart Bank ($3,557).
The lowest rate ANN ARBOR lenders (with over 10 loans originated) are
MICHIGAN SCHOOLS AND GOVERNMENT (5.66%), Morgan Stanley Private Bank (5.73%), M/I FINANCIAL, LLC (5.73%), Bank of America (6.16%) and Bank of Ann Arbor (6.20%).
ANN ARBOR, 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 |
|---|---|---|---|---|
| JONES LANG LASALLE MULTIFAMILY, LLC | $179,545,000 | n/a | 8.7% | |
| CBRE MULTIFAMILY CAPITAL, INC. | $147,325,000 | n/a | 7.2% | |
| UNITED WHOLESALE MORTGAGE, LLC | $140,460,000 | $112,560,000 | -19.9% | 5.5% |
| Ally Bank | $6,030,000 | $110,770,000 | 1,737.0% | 5.4% |
| QUICKEN LOANS, LLC | $169,885,000 | $99,085,000 | -41.7% | 4.8% |
| The Huntington National Bank | $102,490,000 | $85,985,000 | -16.1% | 4.2% |
| LAKE MICHIGAN CREDIT UNION | $106,540,000 | $81,655,000 | -23.4% | 4.0% |
| First Merchants Bank | $65,170,000 | $67,765,000 | 4.0% | 3.3% |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $76,270,000 | $67,490,000 | -11.5% | 3.3% |
| Old National Bank | $91,625,000 | $62,775,000 | -31.5% | 3.0% |
| University Bank | $18,400,000 | $52,145,000 | 183.4% | 2.5% |
| UNIVERSITY OF MICHIGAN CREDIT UNION | $77,565,000 | $51,800,000 | -33.2% | 2.5% |
| STAUNTON FINANCIAL, INC. | $70,120,000 | $50,025,000 | -28.7% | 2.4% |
| Bank of America | $57,455,000 | $40,110,000 | -30.2% | 1.9% |
| JPMorgan Chase Bank | $69,700,000 | $38,915,000 | -44.2% | 1.9% |
| Bank of Ann Arbor | $41,270,000 | $35,320,000 | -14.4% | 1.7% |
| PNC Bank | $65,090,000 | $35,310,000 | -45.8% | 1.7% |
| MORTGAGE 1 INCORPORATED | $37,005,000 | $31,430,000 | -15.1% | 1.5% |
| DFCU FINANCIAL | $39,090,000 | $30,245,000 | -22.6% | 1.5% |
| WALKER & DUNLOP, LLC | $1,305,000 | $27,500,000 | 2,007.3% | 1.3% |
| Independent Bank | $36,920,000 | $27,295,000 | -26.1% | 1.3% |
| First Federal Bank of the Midwest | $38,905,000 | $24,700,000 | -36.5% | 1.2% |
| MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $13,665,000 | $24,040,000 | 75.9% | 1.2% |
| CROSSCOUNTRY MORTGAGE, LLC | $34,965,000 | $22,645,000 | -35.2% | 1.1% |
| PULTE MORTGAGE LLC | $35,640,000 | $19,395,000 | -45.6% | 0.9% |
| TBI MORTGAGE COMPANY | $10,675,000 | $18,210,000 | 70.6% | 0.9% |
| The Dart Bank | $16,335,000 | $17,505,000 | 7.2% | 0.8% |
| Prudential Huntoon Paige Associates, LLC | $17,205,000 | n/a | 0.8% | |
| Citizens Bank | $23,820,000 | $17,140,000 | -28.0% | 0.8% |
| Flagstar Bank, FSB | $32,240,000 | $15,995,000 | -50.4% | 0.8% |
| GreenStone Farm Credit Services, FLCA | $19,845,000 | $15,620,000 | -21.3% | 0.8% |
| GUARANTEED RATE, INC. | $29,300,000 | $13,080,000 | -55.4% | 0.6% |
| M/I FINANCIAL, LLC | $11,435,000 | $13,010,000 | 13.8% | 0.6% |
| Wells Fargo Bank | $172,865,000 | $11,640,000 | -93.3% | 0.6% |
| Comerica Bank | $42,775,000 | $10,035,000 | -76.5% | 0.5% |
| HOMESITE MORTGAGE, LLC | $20,135,000 | $9,695,000 | -51.9% | 0.5% |
| Fifth Third Bank | $15,480,000 | $9,100,000 | -41.2% | 0.4% |
| MICHIGAN SCHOOLS AND GOVERNMENT | $3,905,000 | $8,885,000 | 127.5% | 0.4% |
| COMMUNITY FINANCIAL CREDIT UNION | $8,445,000 | $8,570,000 | 1.5% | 0.4% |
| CREDIT UNION ONE | $5,775,000 | $8,555,000 | 48.1% | 0.4% |
| BROKER SOLUTIONS, INC. | $11,485,000 | $8,420,000 | -26.7% | 0.4% |
| NEWREZ LLC | $5,800,000 | $8,220,000 | 41.7% | 0.4% |
| MICHIGAN FIRST CREDIT UNION | $8,675,000 | $7,655,000 | -11.8% | 0.4% |
| UNION HOME MORTGAGE CORP. | $11,320,000 | $7,625,000 | -32.6% | 0.4% |
| Mortgage Research Center, LLC | $9,120,000 | $7,460,000 | -18.2% | 0.4% |
| HOWARD HANNA FINANCIAL SERVICES, INC. | $10,575,000 | $7,350,000 | -30.5% | 0.4% |
| ADVIA | $6,985,000 | n/a | 0.3% | |
| KeyBank | $97,630,000 | $6,710,000 | -93.1% | 0.3% |
| Morgan Stanley Private Bank | $4,470,000 | $5,820,000 | 30.2% | 0.3% |
| 21ST MORTGAGE CORPORATION | $7,165,000 | $5,650,000 | -21.1% | 0.3% |
| Michigan Educational Credit Union | $8,415,000 | $5,650,000 | -32.9% | 0.3% |
| MORTGAGE CENTER L.C | $9,135,000 | $5,535,000 | -39.4% | 0.3% |
| MICHIGAN MUTUAL, INC. | $14,690,000 | $5,520,000 | -62.4% | 0.3% |
| TRIAD FINANCIAL SERVICES, INC. | $5,600,000 | $5,460,000 | -2.5% | 0.3% |
| Mr. Cooper ( Nationstar Mortgage ) | $12,945,000 | $5,420,000 | -58.1% | 0.3% |
| Northstar Bank | $9,890,000 | $5,410,000 | -45.3% | 0.3% |
| GENISYS | $5,425,000 | $5,360,000 | -1.2% | 0.3% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $3,095,000 | $5,085,000 | 64.3% | 0.2% |
| PENNYMAC LOAN SERVICES, LLC | $5,065,000 | $4,850,000 | -4.2% | 0.2% |
| RUOFF MORTGAGE COMPANY, INC. | $4,030,000 | $4,680,000 | 16.1% | 0.2% |
| Citibank | $2,510,000 | $4,540,000 | 80.9% | 0.2% |
| MOVEMENT MORTGAGE, LLC | $4,705,000 | $4,530,000 | -3.7% | 0.2% |
| NAVY FEDERAL CREDIT UNION | $8,025,000 | $4,330,000 | -46.0% | 0.2% |
| LOANDEPOT.COM, LLC | $19,180,000 | $4,115,000 | -78.5% | 0.2% |
| HOMEXPRESS MORTGAGE CORP. | $4,080,000 | n/a | 0.2% | |
| USAA Federal Savings Bank | $2,280,000 | $3,995,000 | 75.2% | 0.2% |
| DAS Acquisition Company, LLC | $2,560,000 | $3,880,000 | 51.6% | 0.2% |
| First State Bank | $3,035,000 | $3,710,000 | 22.2% | 0.2% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $1,325,000 | $3,580,000 | 170.2% | 0.2% |
| U.S. Bank | $14,030,000 | $3,510,000 | -75.0% | 0.2% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $5,365,000 | $3,380,000 | -37.0% | 0.2% |
| The State Bank | $12,075,000 | $3,365,000 | -72.1% | 0.2% |
| PLAZA HOME MORTGAGE, INC. | $4,800,000 | $3,160,000 | -34.2% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $11,825,000 | $3,060,000 | -74.1% | 0.1% |
| CALIBER HOME LOANS, INC. | $15,695,000 | $3,050,000 | -80.6% | 0.1% |
| ROSS MORTGAGE CORPORATION | $2,840,000 | $2,915,000 | 2.6% | 0.1% |
| Lake Trust Credit Union | $4,540,000 | $2,885,000 | -36.5% | 0.1% |
| BMO Harris Bank | $2,700,000 | n/a | 0.1% | |
| FREEDOM MORTGAGE CORPORATION | $5,755,000 | $2,595,000 | -54.9% | 0.1% |
| Plains Commerce Bank | $8,765,000 | $2,345,000 | -73.2% | 0.1% |
| LENDINGHOME FUNDING CORPORATION | $1,680,000 | $2,335,000 | 39.0% | 0.1% |
| CP Financial Credit Union | $2,760,000 | $2,330,000 | -15.6% | 0.1% |
| Discover Bank | $1,335,000 | $2,270,000 | 70.0% | 0.1% |
| NBKC BANK | $535,000 | $2,270,000 | 324.3% | 0.1% |
| EVERETT FINANCIAL, INC. | $2,150,000 | $2,220,000 | 3.3% | 0.1% |
| Preston Home Loans Inc | $305,000 | $2,170,000 | 611.5% | 0.1% |
| VIBE CREDIT UNION | $1,255,000 | $2,160,000 | 72.1% | 0.1% |
| First Federal Savings and Loan Association of Lakewood | $2,710,000 | $2,130,000 | -21.4% | 0.1% |
| GREENSTATE CREDIT UNION | $4,230,000 | $2,115,000 | -50.0% | 0.1% |
| NexBank | $2,055,000 | n/a | 0.1% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $3,670,000 | $1,965,000 | -46.5% | 0.1% |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $3,170,000 | $1,915,000 | -39.6% | 0.1% |
| Raymond James Bank | $950,000 | $1,850,000 | 94.7% | 0.1% |
| SUCCESS MORTGAGE PARTNERS, INC. | $3,495,000 | $1,840,000 | -47.4% | 0.1% |
| GVC MORTGAGE, INC. | $365,000 | $1,745,000 | 378.1% | 0.1% |
| First Savings Bank | $530,000 | $1,715,000 | 223.6% | 0.1% |
| CARDINAL FINANCIAL | $760,000 | $1,695,000 | 123.0% | 0.1% |
| MMS MORTGAGE SERVICES, LTD. | $660,000 | $1,675,000 | 153.8% | 0.1% |
| STANFORD Federal Credit Union | $1,645,000 | n/a | 0.1% | |
| Mercantile Bank of Michigan | $13,910,000 | $1,600,000 | -88.5% | 0.1% |
| Commerce Home Mortgage, Inc. | $805,000 | $1,550,000 | 92.5% | 0.1% |
| Truist | $1,190,000 | $1,460,000 | 22.7% | 0.1% |
| Figure Lending LLC | $2,850,000 | $1,400,000 | -50.9% | 0.1% |
| FIRST COMMUNITY MORTGAGE, INC. | $1,385,000 | n/a | 0.1% | |
| CORNERSTONE HOME LENDING, INC. | $1,735,000 | $1,340,000 | -22.8% | 0.1% |
| South Metro Federal Credit Union | $1,250,000 | $1,335,000 | 6.8% | 0.1% |
| Stifel Bank and Trust | $5,510,000 | $1,335,000 | -75.8% | 0.1% |
| Northpointe Bank | $3,475,000 | $1,325,000 | -61.9% | 0.1% |
| FIRST COLONY MORTGAGE CORPORATION | $1,305,000 | n/a | 0.1% | |
| SIRVA MORTGAGE, INC. | $1,260,000 | $1,290,000 | 2.4% | 0.1% |
| ARBOR FINANCIAL CREDIT UNION | $1,740,000 | $1,280,000 | -26.4% | 0.1% |
| UBS Bank USA | $5,850,000 | $1,250,000 | -78.6% | 0.1% |
| First Independence Bank | $1,710,000 | $1,230,000 | -28.1% | 0.1% |
| The Loan Store, Inc. | $1,230,000 | n/a | 0.1% | |
| BETTER MORTGAGE CORPORATION | $10,825,000 | $1,225,000 | -88.7% | 0.1% |
| GUIDANCE RESIDENTIAL, LLC | $2,165,000 | $1,225,000 | -43.4% | 0.1% |
| 1st Source Bank | $1,015,000 | $1,210,000 | 19.2% | 0.1% |
| UNIFY FINANCIAL Credit Union | $2,020,000 | $1,145,000 | -43.3% | 0.1% |
| Coastal Community Bank | $1,130,000 | n/a | 0.1% | |
| PREMIA MORTGAGE, LLC | $1,135,000 | $1,125,000 | -0.9% | 0.1% |
| AMERICAN FINANCIAL NETWORK, INC. | $1,100,000 | n/a | 0.1% | |
| BLG HOLDINGS, INC. | $255,000 | $1,065,000 | 317.6% | 0.1% |
| A&D Mortgage LLC | $1,045,000 | n/a | 0.1% | |
| CONSUMERS | $2,015,000 | $1,030,000 | -48.9% | 0.1% |
| American Mortgage & Equity Consultants, Inc. | $865,000 | $1,025,000 | 18.5% | 0.0% |
| County National Bank | $3,035,000 | $1,010,000 | -66.7% | 0.0% |
| UIF CORPORATION | $3,465,000 | $935,000 | -73.0% | 0.0% |
| Neighborhood Loans, Inc. | $115,000 | $930,000 | 708.7% | 0.0% |
| PENTAGON FEDERAL CREDIT UNION | $3,190,000 | $915,000 | -71.3% | 0.0% |
| DEEPHAVEN MORTGAGE LLC | $905,000 | n/a | 0.0% | |
| Goldman Sachs Bank USA | $1,400,000 | $905,000 | -35.4% | 0.0% |
| MEMBERFOCUS COMMUNITY | $905,000 | n/a | 0.0% | |
| Magnolia Bank | $415,000 | $900,000 | 116.9% | 0.0% |
| CIBC Bank USA | $13,505,000 | $890,000 | -93.4% | 0.0% |
| ALLIANT CREDIT UNION | $625,000 | $875,000 | 40.0% | 0.0% |
| LAKEVIEW LOAN SERVICING, LLC | $3,495,000 | $855,000 | -75.5% | 0.0% |
| HOMESTEAD FUNDING CORP. | $870,000 | $850,000 | -2.3% | 0.0% |
| Dearborn Federal Savings Bank | $1,290,000 | $840,000 | -34.9% | 0.0% |
| Carrington Mortgage Services, LLC | $2,600,000 | $830,000 | -68.1% | 0.0% |
| Equity Prime Mortgage LLC | $800,000 | n/a | 0.0% | |
| NEW DAY FINANCIAL, LLC | $815,000 | $800,000 | -1.8% | 0.0% |
| City National Bank | $755,000 | n/a | 0.0% | |
| Superior Credit Union, Inc. | $745,000 | n/a | 0.0% | |
| Dollar Bank, Federal Savings Bank | $725,000 | n/a | 0.0% | |
| Hinsdale Bank & Trust Company | $725,000 | n/a | 0.0% | |
| TLC COMMUNITY Credit Union | $845,000 | $695,000 | -17.8% | 0.0% |
| CHURCHILL MORTGAGE CORPORATION | $680,000 | $690,000 | 1.5% | 0.0% |
| Regions Bank | $660,000 | n/a | 0.0% | |
| Third Federal Savings and Loan Association of Cleveland | $440,000 | $660,000 | 50.0% | 0.0% |
| DELMAR FINANCIAL COMPANY | $285,000 | $650,000 | 128.1% | 0.0% |
| Public Service Credit Union | $320,000 | $650,000 | 103.1% | 0.0% |
| ZILLOW HOME LOANS, LLC | $465,000 | $645,000 | 38.7% | 0.0% |
| SUN WEST MORTGAGE COMPANY, INC. | $75,000 | $640,000 | 753.3% | 0.0% |
| NATIONAL COOPERATIVE BANK, N.A. | $690,000 | $635,000 | -8.0% | 0.0% |
| Union Bank | $630,000 | n/a | 0.0% | |
| GUILD MORTGAGE COMPANY | $175,000 | $595,000 | 240.0% | 0.0% |
| CREDIT UNION MORTGAGE ASSOCIATION, INC. | $1,855,000 | $590,000 | -68.2% | 0.0% |
| MORTGAGE ACCESS CORP. | $590,000 | n/a | 0.0% | |
| Sunflower Bank | $205,000 | $580,000 | 182.9% | 0.0% |
| UNITED | $165,000 | $575,000 | 248.5% | 0.0% |
| CMG MORTGAGE, INC. | $620,000 | $570,000 | -8.1% | 0.0% |
| Warsaw Federal Savings and Loan Association | $555,000 | n/a | 0.0% | |
| ALLIANCE CATHOLIC CREDIT UNION | $710,000 | $545,000 | -23.2% | 0.0% |
| LAFCU | $535,000 | n/a | 0.0% | |
| The Central Trust Bank | $535,000 | n/a | 0.0% | |
| COMMUNITY CHOICE CREDIT UNION | $815,000 | $505,000 | -38.0% | 0.0% |
| First National Bank of America | $105,000 | $505,000 | 381.0% | 0.0% |
| Hometown Equity Mortgage, LLC | $415,000 | $505,000 | 21.7% | 0.0% |
| Southern Michigan Bank & Trust | $505,000 | n/a | 0.0% | |
| GSF Mortgage Corporation | $500,000 | n/a | 0.0% | |
| Bell Bank | $495,000 | n/a | 0.0% | |
| F&A Federal Credit Union | $495,000 | n/a | 0.0% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $1,340,000 | $485,000 | -63.8% | 0.0% |
| Pinnacle Bank | $475,000 | n/a | 0.0% | |
| PLANET HOME LENDING, LLC | $275,000 | $475,000 | 72.7% | 0.0% |
| LENDINGONE, LLC | $1,430,000 | $460,000 | -67.8% | 0.0% |
| Prosperity Home Mortgage, LLC | $460,000 | n/a | 0.0% | |
| ROYAL UNITED MORTGAGE LLC | $590,000 | $455,000 | -22.9% | 0.0% |
| FOX COMMUNITIES | $435,000 | n/a | 0.0% | |
| Platinum Home Mortgage Corporation | $735,000 | $435,000 | -40.8% | 0.0% |
| VELOCITY COMMERCIAL CAPITAL, LLC | $430,000 | n/a | 0.0% | |
| Charles Schwab Bank, SSB | $3,460,000 | $425,000 | -87.7% | 0.0% |
| J. VIRGIL, INC. | $445,000 | $420,000 | -5.6% | 0.0% |
| Arvest Bank | $235,000 | $415,000 | 76.6% | 0.0% |
| Centier Bank | $525,000 | $405,000 | -22.9% | 0.0% |
| Cornerstone First Mortgage, Inc | $405,000 | n/a | 0.0% | |
| EQUITY RESOURCES, INC. | $440,000 | $395,000 | -10.2% | 0.0% |
| Honor Credit Union | $295,000 | $395,000 | 33.9% | 0.0% |
| ASTERA | $370,000 | $390,000 | 5.4% | 0.0% |
| FBC MORTGAGE, LLC | $385,000 | n/a | 0.0% | |
| The Bank of Fayette County | $385,000 | n/a | 0.0% | |
| RBC Bank, (Georgia) | $375,000 | $380,000 | 1.3% | 0.0% |
| OCMBC, INC. | $475,000 | $365,000 | -23.2% | 0.0% |
| DOW CHEMICAL EMPLOYEES' | $820,000 | $360,000 | -56.1% | 0.0% |
| Macatawa Bank | $360,000 | n/a | 0.0% | |
| DOMINION FINANCIAL SERVICES, LLC | $135,000 | $345,000 | 155.6% | 0.0% |
| DRAPER AND KRAMER MORTGAGE CORP. | $595,000 | $345,000 | -42.0% | 0.0% |
| BAY EQUITY LLC | $1,325,000 | $335,000 | -74.7% | 0.0% |
| Consumers Professional Credit Union | $325,000 | n/a | 0.0% | |
| DIAMOND RESIDENTIAL MORTGAGE CORPORATION | $325,000 | n/a | 0.0% | |
| First Commonwealth Bank | $325,000 | n/a | 0.0% | |
| FINANCE OF AMERICA REVERSE LLC | $725,000 | $320,000 | -55.9% | 0.0% |
| WINGS FINANCIAL | $1,700,000 | $320,000 | -81.2% | 0.0% |
| Alerus Financial | $305,000 | n/a | 0.0% | |
| HSBC BANK USA, NATIONAL ASSOCIATION | $90,005,000 | $305,000 | -99.7% | 0.0% |
| Nicolet National Bank | $305,000 | n/a | 0.0% | |
| THE MORTGAGE LINK, INC. | $305,000 | n/a | 0.0% | |
| St James Mortgage Corporation | $285,000 | n/a | 0.0% | |
| AmeriHome Mortgage Company, LLC | $1,180,000 | $275,000 | -76.7% | 0.0% |
| MEMBER FIRST MORTGAGE, LLC | $2,705,000 | $275,000 | -89.8% | 0.0% |
| EMM LOANS LLC | $245,000 | $265,000 | 8.2% | 0.0% |
| Frontier Bank | $265,000 | n/a | 0.0% | |
| LONGBRIDGE FINANCIAL, LLC | $655,000 | $265,000 | -59.5% | 0.0% |
| North American Savings Bank, F.S.B. | $1,730,000 | $265,000 | -84.7% | 0.0% |
| Isabella Bank | $215,000 | $260,000 | 20.9% | 0.0% |
| ELGA CREDIT UNION | $255,000 | n/a | 0.0% | |
| Grand River Bank | $245,000 | $255,000 | 4.1% | 0.0% |
| GUARANTEED RATE AFFINITY, LLC | $520,000 | $255,000 | -51.0% | 0.0% |
| Sturgis Bank & Trust Company | $695,000 | $255,000 | -63.3% | 0.0% |
| Zeal Credit Union | $390,000 | $255,000 | -34.6% | 0.0% |
| AXIA FINANCIAL, LLC | $245,000 | n/a | 0.0% | |
| American 1 Credit Union | $240,000 | n/a | 0.0% | |
| GTE Federal Credit Union | $135,000 | $240,000 | 77.8% | 0.0% |
| Citadel Servicing Corporation | $885,000 | $235,000 | -73.4% | 0.0% |
| Paramount Residential Mortgage Group, Inc. | $965,000 | $235,000 | -75.6% | 0.0% |
| THE ANDERSON FINANCIAL GROUP, INC. | $700,000 | $235,000 | -66.4% | 0.0% |
| Horizon Bank | $230,000 | n/a | 0.0% | |
| TOP FLITE FINANCIAL, INC. | $490,000 | $230,000 | -53.1% | 0.0% |
| ACADEMY MORTGAGE CORPORATION | $2,290,000 | $220,000 | -90.4% | 0.0% |
| LOANPAL, LLC | $300,000 | $215,000 | -28.3% | 0.0% |
| SPRING EQ, LLC | $1,460,000 | $215,000 | -85.3% | 0.0% |
| T2 FINANCIAL LLC | $105,000 | $215,000 | 104.8% | 0.0% |
| The Federal Savings Bank | $960,000 | $215,000 | -77.6% | 0.0% |
| Associated Bank | $7,220,000 | $205,000 | -97.2% | 0.0% |
| Atlantic Coast Mortgage, LLC | $205,000 | n/a | 0.0% | |
| FirstBank | $820,000 | $205,000 | -75.0% | 0.0% |
| NATIONWIDE MORTGAGE BANKERS, INC. | $205,000 | n/a | 0.0% | |
| Quontic Bank | $540,000 | $185,000 | -65.7% | 0.0% |
| Waterstone Mortgage Corporation | $235,000 | $185,000 | -21.3% | 0.0% |
| GREENWOOD | $130,000 | $160,000 | 23.1% | 0.0% |
| MORIA DEVELOPMENT, INC. | $145,000 | n/a | 0.0% | |
| NATIONS RELIABLE LENDING, LLC | $155,000 | $135,000 | -12.9% | 0.0% |
| TOWNE MORTGAGE COMPANY | $540,000 | $135,000 | -75.0% | 0.0% |
| Chartwell Financial, LLC | $465,000 | $130,000 | -72.0% | 0.0% |
| Parda Federal Credit Union | $130,000 | n/a | 0.0% | |
| LIMA ONE CAPITAL, LLC | $325,000 | $125,000 | -61.5% | 0.0% |
| PARKSIDE | $125,000 | n/a | 0.0% | |
| PHH Mortgage Corporation | $925,000 | $125,000 | -86.5% | 0.0% |
| MASS. INSTITUTE OF TECH. FEDERAL CREDIT UNION | $115,000 | n/a | 0.0% | |
| ON Q FINANCIAL, INC. | $115,000 | n/a | 0.0% | |
| VILLAGE CAPITAL MORTGAGE | $405,000 | $115,000 | -71.6% | 0.0% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $1,410,000 | $105,000 | -92.6% | 0.0% |
| Baxter Credit Union | $105,000 | n/a | 0.0% | |
| BECKAM FUNDING CORP. | $515,000 | $105,000 | -79.6% | 0.0% |
| KINECTA | $105,000 | n/a | 0.0% | |
| FINANCIAL PLUS CREDIT UNION | $630,000 | $100,000 | -84.1% | 0.0% |
| NEW ENGLAND FEDERAL CREDIT UNION | $90,000 | n/a | 0.0% | |
| ADVANTAGE ONE Credit Union | $390,000 | $80,000 | -79.5% | 0.0% |
| Extra | $75,000 | n/a | 0.0% | |
| Wildfire Credit Union | $90,000 | $75,000 | -16.7% | 0.0% |
| DIGITAL Federal Credit Union | $1,240,000 | $65,000 | -94.8% | 0.0% |
| RELIANCE FIRST CAPITAL, LLC | $1,050,000 | $65,000 | -93.8% | 0.0% |
| Signature Federal Credit Union | $65,000 | n/a | 0.0% | |
| The Genoa Banking Company | $65,000 | n/a | 0.0% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $185,000 | $60,000 | -67.6% | 0.0% |
| Eastern Michigan Bank | $455,000 | $55,000 | -87.9% | 0.0% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $80,000 | $55,000 | -31.3% | 0.0% |
| Dort Financial Credit Union | $1,950,000 | $45,000 | -97.7% | 0.0% |
| FEDEX EMPLOYEES CREDIT ASSOCIATION | $45,000 | n/a | 0.0% | |
| GreenStone Farm Credit Services, ACA | $25,000 | n/a | 0.0% |
ANN ARBOR's top lender by overall market share is JONES LANG LASALLE MULTIFAMILY, LLC, with 8.7% market share. In second place, with 7.2%, is CBRE MULTIFAMILY CAPITAL, INC., having originated $147,325,000 in loans. In third place, with 5.5%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $112,560,000 in loans. In fourth place, with 5.4%, is Ally Bank, having originated $110,770,000 in loans. In fifth place, with 4.8%, is QUICKEN LOANS, LLC, having originated $99,085,000 in loans.
ANN ARBOR, MI Average Rent (2023)
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| Zip Code | Metro | Studio Apartment Rent | 1BR Apartment Rent | 2BR Apartment Rent | 3BR Apartment Rent | 4BR Apartment Rent |
|---|---|---|---|---|---|---|
| 48103 | Ann Arbor, MI MSA | $1,380 | $1,390 | $1,670 | $2,030 | $2,320 |
| 48104 | Ann Arbor, MI MSA | $1,380 | $1,390 | $1,670 | $2,030 | $2,320 |
| 48105 | Ann Arbor, MI MSA | $1,360 | $1,370 | $1,640 | $2,000 | $2,280 |
| 48106 | Ann Arbor, MI MSA | $1,140 | $1,150 | $1,380 | $1,680 | $1,920 |
| 48107 | Ann Arbor, MI MSA | $1,140 | $1,150 | $1,380 | $1,680 | $1,920 |
| 48108 | Ann Arbor, MI MSA | $1,070 | $1,070 | $1,290 | $1,570 | $1,790 |
| 48109 | Ann Arbor, MI MSA | $1,370 | $1,380 | $1,660 | $2,020 | $2,300 |
| 48111 | Ann Arbor, MI MSA | $950 | $990 | $1,260 | $1,570 | $1,690 |
| 48113 | Ann Arbor, MI MSA | $1,140 | $1,150 | $1,380 | $1,680 | $1,920 |
| 48118 | Ann Arbor, MI MSA | $1,180 | $1,180 | $1,420 | $1,730 | $1,980 |
| 48130 | Ann Arbor, MI MSA | $1,170 | $1,170 | $1,410 | $1,720 | $1,960 |
| 48137 | Ann Arbor, MI MSA | $1,160 | $1,340 | $1,590 | $2,080 | $2,320 |
| 48158 | Ann Arbor, MI MSA | $950 | $950 | $1,140 | $1,410 | $1,640 |
| 48160 | Ann Arbor, MI MSA | $950 | $950 | $1,140 | $1,410 | $1,660 |
| 48167 | Ann Arbor, MI MSA | $1,150 | $1,280 | $1,620 | $2,010 | $2,180 |
| 48168 | Ann Arbor, MI MSA | $1,290 | $1,440 | $1,820 | $2,260 | $2,450 |
| 48169 | Ann Arbor, MI MSA | $950 | $1,080 | $1,270 | $1,710 | $1,900 |
| 48170 | Ann Arbor, MI MSA | $950 | $970 | $1,240 | $1,540 | $1,660 |
| 48175 | Ann Arbor, MI MSA | $1,140 | $1,150 | $1,380 | $1,680 | $1,920 |
| 48176 | Ann Arbor, MI MSA | $950 | $950 | $1,140 | $1,410 | $1,640 |
| 48178 | Ann Arbor, MI MSA | $950 | $1,050 | $1,300 | $1,660 | $1,810 |
| 48189 | Ann Arbor, MI MSA | $950 | $990 | $1,180 | $1,510 | $1,700 |
| 48190 | Ann Arbor, MI MSA | $1,200 | $1,220 | $1,470 | $1,790 | $2,070 |
| 48191 | Ann Arbor, MI MSA | $1,430 | $1,440 | $1,730 | $2,100 | $2,410 |
| 48197 | Ann Arbor, MI MSA | $1,030 | $1,030 | $1,240 | $1,510 | $1,730 |
| 48198 | Ann Arbor, MI MSA | $950 | $950 | $1,140 | $1,410 | $1,640 |
| 49229 | Ann Arbor, MI MSA | $950 | $950 | $1,140 | $1,410 | $1,640 |
| 49230 | Ann Arbor, MI MSA | $950 | $950 | $1,140 | $1,410 | $1,640 |
| 49236 | Ann Arbor, MI MSA | $950 | $950 | $1,140 | $1,410 | $1,640 |
| 49240 | Ann Arbor, MI MSA | $950 | $950 | $1,140 | $1,430 | $1,640 |
| 49285 | Ann Arbor, MI MSA | $950 | $950 | $1,140 | $1,410 | $1,640 |
| 49287 | Ann Arbor, MI MSA | $950 | $950 | $1,140 | $1,410 | $1,640 |
2022 Average & Median Rent Data Statistics
ANN ARBOR, MI average 1BR rent: $1,121, median: $1,075
ANN ARBOR, MI average 2BR rent: $1,356, median: $1,295
ANN ARBOR, MI average 3BR rent: $1,678, median: $1,670
ANN ARBOR, MI Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 3,410 | $1,192,310,000 | $349,651 |
| Home Improvement | 737 | $89,645,000 | $121,635 |
| Other | 623 | $76,395,000 | $122,624 |
| Cash Out Refi | 584 | $144,230,000 | $246,969 |
| Refi | 362 | $557,330,000 | $1,539,586 |
Ann Arbor's most frequently cited loan purpose was Home Purchase, with 3,410 originations. The 2nd most popular reason was Home Improvement, with 737 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 2,093 | $704,285,000 | $336,495 |
| Over 8% | 1,307 | $180,165,000 | $137,846 |
| 7-8% | 1,211 | $338,345,000 | $279,393 |
| 5-6% | 890 | $528,150,000 | $593,427 |
| 4-5% | 95 | $178,345,000 | $1,877,316 |
| <2.5% | 18 | $160,000 | $8,889 |
| 3-4% | 9 | $112,195,000 | $12,466,111 |
| 2.5-3% | 5 | $625,000 | $125,000 |
During 2023, Ann Arbor's most frequently originated rate bucket was 6-7%, with 2,093 originations.
Loan Sizing (ANN ARBOR, MI MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 1,995 | $571,975,000 | $286,704 |
| $100k-200k | 1,274 | $186,920,000 | $146,719 |
| $100,000 or less | 1,268 | $71,150,000 | $56,112 |
| $400k-600k | 765 | $364,095,000 | $475,941 |
| $600k-1000k | 327 | $242,905,000 | $742,829 |
| $Over $1MM | 87 | $622,865,000 | $7,159,368 |
ANN ARBOR's loan sizing saw the bucket of loans from $200k-400k with 1,995 originations, totaling $571,975,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 1,956 | $709,980,000 | $362,975 |
| 60-80% | 1,343 | $635,475,000 | $473,176 |
| Under 20% | 875 | $55,085,000 | $62,954 |
| 20-40% | 812 | $122,850,000 | $151,293 |
| 40-60% | 549 | $311,835,000 | $568,005 |
| Over 100% | 27 | $200,835,000 | $7,438,333 |
ANN ARBOR's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,956 originations, totaling $709,980,000 in origination value.