BATTLE CREEK Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Battle Creek averaged
7.19%
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
6.82% and
one month ago for the week of 2024-10-03, the
average rate was 6.12%.
Battle Creek's average rate one year ago was 8.06%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.2%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Battle Creek 30 Year Fixed Rate | 2024-11-07 | 7.19% |
| Battle Creek 30 Year Fixed Rate Refi | 2024-11-07 | 7.2% |
| Battle Creek 15 Year Fixed Rate | 2024-11-07 | 6.2% |
| Battle Creek 15 Year Fixed Rate Refi | 2024-11-07 | 6.4% |
| Battle Creek 30 Year FHA | 2024-11-07 | 6.37% |
| Battle Creek 30 Year FHA Refi | 2024-11-07 | 6.63% |
| Battle Creek 30 Year USDA | 2024-11-07 | 6.48% |
| Battle Creek 30 Year USDA Refi | 2024-11-07 | 6.48% |
| Battle Creek 30 Year VA | 2024-11-07 | 6.4% |
| Battle Creek 30 Year VA Refi | 2024-11-07 | 6.24% |
BATTLE CREEK 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 BATTLE CREEK, 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.).
BATTLE CREEK Average Closing Costs & Other Stats
BATTLE CREEK, MI's 110 lenders originated 2,792
loans during 2023. The total origination value was $408,280,000, with an average loan value of
$146,232.
BATTLE CREEK's average closing costs are $3,894.
The top BATTLE CREEK lender as defined by loan originations is MARSHALL COMMUNITY CREDIT UNION, with
76 loans originated. Their average total fees are
$2,534, which is $235
lower than the next largest lender,
OAK MORTGAGE, LLC.
The lowest fee BATTLE CREEK lenders (with over 10 loans originated) are
Honor Credit Union ($2,425), MARSHALL COMMUNITY CREDIT UNION ($2,534), Kellogg Community Credit Union ($2,602), OAK MORTGAGE, LLC ($2,769) and FIRST CHOICE MH LLC ($2,887).
The lowest rate BATTLE CREEK lenders (with over 10 loans originated) are
MORTGAGE CENTER L.C (6.23%), CONTOUR MORTGAGE CORPORATION (6.36%), Independent Bank (6.60%), MARSHALL COMMUNITY CREDIT UNION (6.64%) and MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION (6.66%).
BATTLE CREEK, 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 |
|---|---|---|---|---|
| MARSHALL COMMUNITY CREDIT UNION | $34,930,000 | $31,270,000 | -10.5% | 7.7% |
| QUICKEN LOANS, LLC | $40,405,000 | $24,040,000 | -40.5% | 5.9% |
| Kellogg Community Credit Union | $36,870,000 | $23,015,000 | -37.6% | 5.6% |
| UNION HOME MORTGAGE CORP. | $8,290,000 | $19,095,000 | 130.3% | 4.7% |
| Merchants Bank of Indiana | $16,505,000 | n/a | 4.0% | |
| OAK MORTGAGE, LLC | $12,530,000 | $14,620,000 | 16.7% | 3.6% |
| Mortgage Research Center, LLC | $12,255,000 | $14,485,000 | 18.2% | 3.5% |
| GREYSTONE FUNDING COMPANY LLC | $13,805,000 | n/a | 3.4% | |
| The Huntington National Bank | $19,655,000 | $13,150,000 | -33.1% | 3.2% |
| UNITED WHOLESALE MORTGAGE, LLC | $13,610,000 | $13,000,000 | -4.5% | 3.2% |
| Fifth Third Bank | $20,965,000 | $12,530,000 | -40.2% | 3.1% |
| CONSUMERS | $13,345,000 | $12,045,000 | -9.7% | 3.0% |
| Honor Credit Union | $7,425,000 | $10,790,000 | 45.3% | 2.6% |
| Neighborhood Loans, Inc. | $8,270,000 | $9,725,000 | 17.6% | 2.4% |
| OMNI Community Credit Union | $10,230,000 | $8,665,000 | -15.3% | 2.1% |
| LAKE MICHIGAN CREDIT UNION | $6,305,000 | $8,195,000 | 30.0% | 2.0% |
| Flagstar Bank, FSB | $7,435,000 | $5,705,000 | -23.3% | 1.4% |
| MORTGAGE CENTER L.C | $14,410,000 | $5,060,000 | -64.9% | 1.2% |
| GUARANTEED RATE, INC. | $4,110,000 | $4,955,000 | 20.6% | 1.2% |
| GVC MORTGAGE, INC. | $5,130,000 | $4,695,000 | -8.5% | 1.1% |
| County National Bank | $3,075,000 | $4,620,000 | 50.2% | 1.1% |
| ADVIA | $7,510,000 | $4,420,000 | -41.1% | 1.1% |
| The Dart Bank | $2,695,000 | $4,390,000 | 62.9% | 1.1% |
| MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $8,715,000 | $4,305,000 | -50.6% | 1.1% |
| MEMBER FIRST MORTGAGE, LLC | $2,165,000 | $4,195,000 | 93.8% | 1.0% |
| Old National Bank | $2,430,000 | $3,860,000 | 58.8% | 0.9% |
| CONTOUR MORTGAGE CORPORATION | $4,200,000 | $3,665,000 | -12.7% | 0.9% |
| SUMMIT HOME MORTGAGE, LLC | $2,005,000 | $3,285,000 | 63.8% | 0.8% |
| Southern Michigan Bank & Trust | $7,020,000 | $3,260,000 | -53.6% | 0.8% |
| Independent Bank | $6,335,000 | $3,255,000 | -48.6% | 0.8% |
| PNC Bank | $2,825,000 | $3,255,000 | 15.2% | 0.8% |
| GreenStone Farm Credit Services, FLCA | $3,195,000 | $3,240,000 | 1.4% | 0.8% |
| NAVY FEDERAL CREDIT UNION | $3,180,000 | $2,985,000 | -6.1% | 0.7% |
| MORTGAGE 1 INCORPORATED | $2,240,000 | $2,980,000 | 33.0% | 0.7% |
| FIRST CHOICE MH LLC | $2,855,000 | $2,835,000 | -0.7% | 0.7% |
| Northpointe Bank | $1,895,000 | $2,745,000 | 44.9% | 0.7% |
| AMERISAVE MORTGAGE CORPORATION | $1,915,000 | $2,690,000 | 40.5% | 0.7% |
| Comerica Bank | $6,520,000 | $2,670,000 | -59.0% | 0.7% |
| UNIVERSITY CREDIT UNION | $2,645,000 | n/a | 0.6% | |
| Homestead Savings Bank | $4,315,000 | $2,605,000 | -39.6% | 0.6% |
| FREEDOM MORTGAGE CORPORATION | $3,680,000 | $2,090,000 | -43.2% | 0.5% |
| FIRST COMMUNITY MORTGAGE, INC. | $155,000 | $2,040,000 | 1,216.1% | 0.5% |
| Mr. Cooper ( Nationstar Mortgage ) | $4,380,000 | $1,975,000 | -54.9% | 0.5% |
| Sturgis Bank & Trust Company | $15,085,000 | $1,900,000 | -87.4% | 0.5% |
| SUCCESS MORTGAGE PARTNERS, INC. | $2,780,000 | $1,870,000 | -32.7% | 0.5% |
| BROKER SOLUTIONS, INC. | $1,750,000 | $1,860,000 | 6.3% | 0.5% |
| ARBOR FINANCIAL CREDIT UNION | $3,575,000 | $1,765,000 | -50.6% | 0.4% |
| LOANDEPOT.COM, LLC | $3,330,000 | $1,755,000 | -47.3% | 0.4% |
| RUOFF MORTGAGE COMPANY, INC. | $2,685,000 | $1,630,000 | -39.3% | 0.4% |
| CROSSCOUNTRY MORTGAGE, LLC | $2,655,000 | $1,575,000 | -40.7% | 0.4% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $4,740,000 | $1,535,000 | -67.6% | 0.4% |
| ZILLOW HOME LOANS, LLC | $215,000 | $1,530,000 | 611.6% | 0.4% |
| NEWREZ LLC | $1,980,000 | $1,470,000 | -25.8% | 0.4% |
| JPMorgan Chase Bank | $2,570,000 | $1,460,000 | -43.2% | 0.4% |
| Highpoint Community Bank | $3,580,000 | $1,345,000 | -62.4% | 0.3% |
| NEW DAY FINANCIAL, LLC | $1,290,000 | $1,340,000 | 3.9% | 0.3% |
| USAA Federal Savings Bank | $2,485,000 | $1,325,000 | -46.7% | 0.3% |
| CARDINAL FINANCIAL | $1,265,000 | $1,315,000 | 4.0% | 0.3% |
| 21ST MORTGAGE CORPORATION | $550,000 | $1,215,000 | 120.9% | 0.3% |
| ROYAL UNITED MORTGAGE LLC | $1,025,000 | $1,150,000 | 12.2% | 0.3% |
| PENNYMAC LOAN SERVICES, LLC | $1,030,000 | $1,125,000 | 9.2% | 0.3% |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $2,110,000 | $1,045,000 | -50.5% | 0.3% |
| Carrington Mortgage Services, LLC | $635,000 | $980,000 | 54.3% | 0.2% |
| KALSEE CREDIT UNION | $1,070,000 | $850,000 | -20.6% | 0.2% |
| Wells Fargo Bank | $2,625,000 | $835,000 | -68.2% | 0.2% |
| EVERETT FINANCIAL, INC. | $1,715,000 | $815,000 | -52.5% | 0.2% |
| Logan Finance Corporation | $785,000 | n/a | 0.2% | |
| COMMUNITY FINANCIAL CREDIT UNION | $770,000 | n/a | 0.2% | |
| Discover Bank | $205,000 | $730,000 | 256.1% | 0.2% |
| Plains Commerce Bank | $515,000 | $715,000 | 38.8% | 0.2% |
| Mercantile Bank of Michigan | $730,000 | $685,000 | -6.2% | 0.2% |
| GUILD MORTGAGE COMPANY | $675,000 | n/a | 0.2% | |
| CHERRY CREEK MORTGAGE, LLC | $5,520,000 | $645,000 | -88.3% | 0.2% |
| Horizon Bank | $1,735,000 | $645,000 | -62.8% | 0.2% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $620,000 | n/a | 0.2% | |
| Waterstone Mortgage Corporation | $605,000 | n/a | 0.1% | |
| The Farmers & Merchants State Bank | $185,000 | $600,000 | 224.3% | 0.1% |
| TOP FLITE FINANCIAL, INC. | $85,000 | $600,000 | 605.9% | 0.1% |
| TRIAD FINANCIAL SERVICES, INC. | $640,000 | $600,000 | -6.3% | 0.1% |
| MICHIGAN MUTUAL, INC. | $850,000 | $585,000 | -31.2% | 0.1% |
| Citizens Bank | $705,000 | $570,000 | -19.1% | 0.1% |
| VAN DYK MORTGAGE CORPORATION | $860,000 | $565,000 | -34.3% | 0.1% |
| Ally Bank | $555,000 | n/a | 0.1% | |
| First Savings Bank | $555,000 | n/a | 0.1% | |
| KeyBank | $400,000 | $550,000 | 37.5% | 0.1% |
| Bank of America | $720,000 | $535,000 | -25.7% | 0.1% |
| T2 FINANCIAL LLC | $530,000 | n/a | 0.1% | |
| UNITED | $230,000 | $520,000 | 126.1% | 0.1% |
| Eaton Community Bank | $2,195,000 | $505,000 | -77.0% | 0.1% |
| Prosperity Home Mortgage, LLC | $505,000 | n/a | 0.1% | |
| Equity Prime Mortgage LLC | $290,000 | $500,000 | 72.4% | 0.1% |
| Consumers Professional Credit Union | $1,365,000 | $495,000 | -63.7% | 0.1% |
| DFCU FINANCIAL | $495,000 | n/a | 0.1% | |
| First Federal Bank of the Midwest | $495,000 | n/a | 0.1% | |
| Frankenmuth Credit Union | $185,000 | $480,000 | 159.5% | 0.1% |
| Notre Dame Federal Credit Union Corporation | $480,000 | n/a | 0.1% | |
| Coastal Community Bank | $465,000 | n/a | 0.1% | |
| LIMA ONE CAPITAL, LLC | $140,000 | $440,000 | 214.3% | 0.1% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $145,000 | $435,000 | 200.0% | 0.1% |
| LENDINGHOME FUNDING CORPORATION | $860,000 | $435,000 | -49.4% | 0.1% |
| Pacor Mortgage Corp | $430,000 | n/a | 0.1% | |
| PLAZA HOME MORTGAGE, INC. | $360,000 | $405,000 | 12.5% | 0.1% |
| TOWNE MORTGAGE COMPANY | $175,000 | $405,000 | 131.4% | 0.1% |
| LAKEVIEW LOAN SERVICING, LLC | $820,000 | $400,000 | -51.2% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $945,000 | $395,000 | -58.2% | 0.1% |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $395,000 | n/a | 0.1% | |
| OCMBC, INC. | $380,000 | n/a | 0.1% | |
| Raymond James Bank | $380,000 | n/a | 0.1% | |
| VILLAGE CAPITAL MORTGAGE | $1,265,000 | $380,000 | -70.0% | 0.1% |
| ACADEMY MORTGAGE CORPORATION | $555,000 | $375,000 | -32.4% | 0.1% |
| PROPER RATE, LLC | $375,000 | n/a | 0.1% | |
| Dort Financial Credit Union | $360,000 | n/a | 0.1% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $470,000 | $360,000 | -23.4% | 0.1% |
| DRAPER AND KRAMER MORTGAGE CORP. | $355,000 | n/a | 0.1% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $215,000 | $350,000 | 62.8% | 0.1% |
| United Bank of Michigan | $330,000 | $335,000 | 1.5% | 0.1% |
| CLEARPATH LENDING | $255,000 | $330,000 | 29.4% | 0.1% |
| Commerce Home Mortgage, Inc. | $320,000 | n/a | 0.1% | |
| Regions Bank | $250,000 | $320,000 | 28.0% | 0.1% |
| ChoiceOne Bank | $135,000 | $310,000 | 129.6% | 0.1% |
| CALIBER HOME LOANS, INC. | $1,590,000 | $305,000 | -80.8% | 0.1% |
| Figure Lending LLC | $295,000 | $305,000 | 3.4% | 0.1% |
| MOVEMENT MORTGAGE, LLC | $305,000 | n/a | 0.1% | |
| NBKC BANK | $215,000 | $305,000 | 41.9% | 0.1% |
| Preston Home Loans Inc | $115,000 | $300,000 | 160.9% | 0.1% |
| The Loan Store, Inc. | $275,000 | n/a | 0.1% | |
| MID AMERICA MORTGAGE, INC. | $565,000 | $270,000 | -52.2% | 0.1% |
| LAFCU | $1,705,000 | $255,000 | -85.0% | 0.1% |
| Paramount Residential Mortgage Group, Inc. | $350,000 | $255,000 | -27.1% | 0.1% |
| RELIANCE FIRST CAPITAL, LLC | $415,000 | $250,000 | -39.8% | 0.1% |
| Bell Bank | $245,000 | n/a | 0.1% | |
| BNC National Bank | $405,000 | $235,000 | -42.0% | 0.1% |
| GENISYS | $340,000 | $230,000 | -32.4% | 0.1% |
| American Mortgage & Equity Consultants, Inc. | $225,000 | n/a | 0.1% | |
| BETTER MORTGAGE CORPORATION | $390,000 | $225,000 | -42.3% | 0.1% |
| Colonial Savings, F.A. | $225,000 | n/a | 0.1% | |
| NORTHERN MORTGAGE SERVICES, LLC | $930,000 | $220,000 | -76.3% | 0.1% |
| NexBank | $205,000 | n/a | 0.1% | |
| VIBE CREDIT UNION | $200,000 | n/a | 0.0% | |
| EMM LOANS LLC | $195,000 | n/a | 0.0% | |
| AMERICAN PORTFOLIO MORTGAGE CORPORATION | $1,085,000 | $185,000 | -82.9% | 0.0% |
| North American Savings Bank, F.S.B. | $185,000 | n/a | 0.0% | |
| PHH Mortgage Corporation | $190,000 | $185,000 | -2.6% | 0.0% |
| DEEPHAVEN MORTGAGE LLC | $175,000 | n/a | 0.0% | |
| FINANCIAL PLUS CREDIT UNION | $175,000 | n/a | 0.0% | |
| PLANET HOME LENDING, LLC | $410,000 | $175,000 | -57.3% | 0.0% |
| AMERICAN FINANCIAL NETWORK, INC. | $165,000 | n/a | 0.0% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $950,000 | $160,000 | -83.2% | 0.0% |
| AMERICAN FINANCING CORPORATION | $400,000 | $155,000 | -61.3% | 0.0% |
| First Merchants Bank | $1,035,000 | $155,000 | -85.0% | 0.0% |
| Michigan Educational Credit Union | $155,000 | n/a | 0.0% | |
| Nations Lending Corporation | $465,000 | $155,000 | -66.7% | 0.0% |
| Lakeview Community Capital, LLC | $145,000 | $150,000 | 3.4% | 0.0% |
| U.S. Bank | $330,000 | $150,000 | -54.5% | 0.0% |
| BM Real Estate Services, Inc. | $145,000 | n/a | 0.0% | |
| CREDIT UNION ONE | $65,000 | $145,000 | 123.1% | 0.0% |
| MMS MORTGAGE SERVICES, LTD. | $145,000 | n/a | 0.0% | |
| COMMUNITY CHOICE CREDIT UNION | $100,000 | $140,000 | 40.0% | 0.0% |
| American 1 Credit Union | $125,000 | n/a | 0.0% | |
| CMG MORTGAGE, INC. | $845,000 | $125,000 | -85.2% | 0.0% |
| MICHIGAN FIRST CREDIT UNION | $160,000 | $125,000 | -21.9% | 0.0% |
| UNIVERSITY OF MICHIGAN CREDIT UNION | $200,000 | $125,000 | -37.5% | 0.0% |
| NBH Bank | $115,000 | n/a | 0.0% | |
| GSF Mortgage Corporation | $105,000 | n/a | 0.0% | |
| HOMEXPRESS MORTGAGE CORP. | $105,000 | n/a | 0.0% | |
| GREENSTATE CREDIT UNION | $535,000 | $100,000 | -81.3% | 0.0% |
| RBC Bank, (Georgia) | $95,000 | n/a | 0.0% | |
| MY MORTGAGE, INC. | $185,000 | $85,000 | -54.1% | 0.0% |
| Secured Investment Corp. | $95,000 | $85,000 | -10.5% | 0.0% |
| USAlliance Federal Credit Union | $75,000 | n/a | 0.0% | |
| VELOCITY COMMERCIAL CAPITAL, LLC | $105,000 | $75,000 | -28.6% | 0.0% |
| CIVIC FINANCIAL SERVICES, LLC | $95,000 | $65,000 | -31.6% | 0.0% |
| MICHIGAN SCHOOLS AND GOVERNMENT | $335,000 | $65,000 | -80.6% | 0.0% |
| NFM, INC. | $295,000 | $65,000 | -78.0% | 0.0% |
| ENVOY MORTGAGE, LTD | $125,000 | $55,000 | -56.0% | 0.0% |
| FINANCE OF AMERICA REVERSE LLC | $55,000 | n/a | 0.0% | |
| First State Bank | $55,000 | n/a | 0.0% | |
| LONGBRIDGE FINANCIAL, LLC | $55,000 | n/a | 0.0% | |
| MICHIGAN ONE COMMUNITY Credit Union | $45,000 | n/a | 0.0% | |
| GreenStone Farm Credit Services, ACA | $15,000 | n/a | 0.0% | |
| Lake Trust Credit Union | $15,000 | n/a | 0.0% |
BATTLE CREEK's top lender by overall market share is MARSHALL COMMUNITY CREDIT UNION, with 7.7% market share. In second place, with 5.9%, is QUICKEN LOANS, LLC, having originated $24,040,000 in loans. In third place, with 5.6%, is Kellogg Community Credit Union, having originated $23,015,000 in loans. In fourth place, with 4.7%, is UNION HOME MORTGAGE CORP., having originated $19,095,000 in loans. In fifth place, with 4.0%, is Merchants Bank of Indiana, having originated $16,505,000 in loans.
BATTLE CREEK, 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 |
|---|---|---|---|---|---|---|
| 48813 | Battle Creek, MI MSA | $740 | $770 | $940 | $1,220 | $1,260 |
| 49011 | Battle Creek, MI MSA | $750 | $840 | $1,030 | $1,320 | $1,500 |
| 49012 | Battle Creek, MI MSA | $760 | $890 | $1,090 | $1,430 | $1,560 |
| 49014 | Battle Creek, MI MSA | $760 | $850 | $1,040 | $1,330 | $1,520 |
| 49015 | Battle Creek, MI MSA | $770 | $860 | $1,060 | $1,350 | $1,550 |
| 49016 | Battle Creek, MI MSA | $700 | $780 | $960 | $1,230 | $1,400 |
| 49017 | Battle Creek, MI MSA | $710 | $790 | $970 | $1,240 | $1,410 |
| 49021 | Battle Creek, MI MSA | $770 | $800 | $980 | $1,270 | $1,340 |
| 49029 | Battle Creek, MI MSA | $610 | $680 | $840 | $1,070 | $1,220 |
| 49033 | Battle Creek, MI MSA | $730 | $810 | $1,000 | $1,280 | $1,460 |
| 49034 | Battle Creek, MI MSA | $610 | $710 | $870 | $1,140 | $1,250 |
| 49037 | Battle Creek, MI MSA | $660 | $730 | $900 | $1,150 | $1,310 |
| 49051 | Battle Creek, MI MSA | $700 | $800 | $980 | $1,260 | $1,420 |
| 49052 | Battle Creek, MI MSA | $640 | $740 | $910 | $1,190 | $1,310 |
| 49068 | Battle Creek, MI MSA | $670 | $750 | $920 | $1,180 | $1,340 |
| 49076 | Battle Creek, MI MSA | $710 | $750 | $920 | $1,180 | $1,250 |
| 49092 | Battle Creek, MI MSA | $710 | $800 | $980 | $1,250 | $1,430 |
| 49094 | Battle Creek, MI MSA | $620 | $690 | $850 | $1,090 | $1,240 |
| 49224 | Battle Creek, MI MSA | $630 | $710 | $870 | $1,110 | $1,270 |
| 49237 | Battle Creek, MI MSA | $630 | $760 | $900 | $1,200 | $1,360 |
| 49245 | Battle Creek, MI MSA | $660 | $740 | $910 | $1,160 | $1,330 |
| 49252 | Battle Creek, MI MSA | $610 | $730 | $870 | $1,160 | $1,310 |
| 49284 | Battle Creek, MI MSA | $800 | $940 | $1,130 | $1,480 | $1,670 |
2022 Average & Median Rent Data Statistics
BATTLE CREEK, MI average 1BR rent: $779, median: $770
BATTLE CREEK, MI average 2BR rent: $953, median: $940
BATTLE CREEK, MI average 3BR rent: $1,230, median: $1,220
BATTLE CREEK, MI Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,531 | $279,815,000 | $182,766 |
| Cash Out Refi | 411 | $50,005,000 | $121,667 |
| Home Improvement | 339 | $19,485,000 | $57,478 |
| Refi | 266 | $43,560,000 | $163,759 |
| Other | 245 | $15,415,000 | $62,918 |
Battle Creek's most frequently cited loan purpose was Home Purchase, with 1,531 originations. The 2nd most popular reason was Cash Out Refi, with 411 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 1,075 | $167,385,000 | $155,707 |
| 7-8% | 696 | $103,810,000 | $149,152 |
| Over 8% | 556 | $60,590,000 | $108,975 |
| 5-6% | 297 | $58,285,000 | $196,246 |
| <2.5% | 17 | $795,000 | $46,765 |
| 4-5% | 17 | $3,975,000 | $233,824 |
| 3-4% | 3 | $985,000 | $328,333 |
| 2.5-3% | 2 | $490,000 | $245,000 |
During 2023, Battle Creek's most frequently originated rate bucket was 6-7%, with 1,075 originations.
Loan Sizing (BATTLE CREEK, MI MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 1,205 | $64,345,000 | $53,398 |
| $100k-200k | 1,053 | $151,085,000 | $143,481 |
| $200k-400k | 482 | $129,300,000 | $268,257 |
| $400k-600k | 35 | $16,515,000 | $471,857 |
| $600k-1000k | 9 | $6,065,000 | $673,889 |
| $Over $1MM | 8 | $40,970,000 | $5,121,250 |
BATTLE CREEK's loan sizing saw the bucket of loans from $100,000 or less with 1,205 originations, totaling $64,345,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 1,201 | $228,425,000 | $190,196 |
| 60-80% | 508 | $103,040,000 | $202,835 |
| Under 20% | 349 | $12,295,000 | $35,229 |
| 20-40% | 338 | $21,100,000 | $62,426 |
| 40-60% | 259 | $25,225,000 | $97,394 |
| Over 100% | 25 | $5,825,000 | $233,000 |
BATTLE CREEK's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,201 originations, totaling $228,425,000 in origination value.