BAY CITY Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Bay City averaged
6.96%
for the week of 2025-05-08, compared to the national average of
6.76% for the same period.
The average rate for the prior week (2025-05-01) was
6.76% and
one month ago for the week of 2025-04-03, the
average rate was 6.94%.
Bay City's average rate one year ago was 7.22%.
For refis of the same type during the week of 2025-05-08, the average rate
was 7.36%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-05-08 | 6.76% |
| Bay City 30 Year Fixed Rate | 2025-05-08 | 6.96% |
| Bay City 30 Year Fixed Rate Refi | 2025-05-08 | 7.36% |
| Bay City 15 Year Fixed Rate | 2025-05-08 | 5.69% |
| Bay City 15 Year Fixed Rate Refi | 2025-05-08 | 6.19% |
| Bay City 30 Year FHA | 2025-05-08 | 6.5% |
| Bay City 30 Year FHA Refi | 2025-05-08 | 6.48% |
| Bay City 30 Year USDA | 2025-05-08 | 6.27% |
| Bay City 30 Year USDA Refi | 2025-05-08 | 6.27% |
| Bay City 30 Year VA | 2025-05-08 | 6.37% |
| Bay City 30 Year VA Refi | 2025-05-08 | 6.27% |
BAY CITY 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 BAY CITY, 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.).
BAY CITY Average Closing Costs & Other Stats
BAY CITY, MI's 100 lenders originated 1,964
loans during 2024. The total origination value was $262,600,000, with an average loan value of
$133,707.
BAY CITY's average closing costs are $3,725.
The top BAY CITY lender as defined by loan originations is STAUNTON FINANCIAL, INC., with
90 loans originated. Their average total fees are
$4,359, which is $447
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee BAY CITY lenders (with over 10 loans originated) are
FinancialEdge Community Credit Union ($2,299), Independent Bank ($2,598), Frankenmuth Credit Union ($2,602), FINANCIAL PLUS CREDIT UNION ($2,924) and SUNRISE FAMILY CREDIT UNION ($2,952).
The lowest rate BAY CITY lenders (with over 10 loans originated) are
JOLT CREDIT UNION (6.29%), LAKE MICHIGAN CREDIT UNION (6.44%), FINANCIAL PLUS CREDIT UNION (6.56%), SUNRISE FAMILY CREDIT UNION (6.57%) and DAS Acquisition Company, LLC (6.69%).
BAY CITY, 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 | $15,505,000 | $22,990,000 | 48.3% | 8.8% |
| STAUNTON FINANCIAL, INC. | $3,405,000 | $22,275,000 | 554.2% | 8.5% |
| UNITED WHOLESALE MORTGAGE, LLC | $9,670,000 | $18,445,000 | 90.7% | 7.0% |
| The Huntington National Bank | $16,330,000 | $14,820,000 | -9.2% | 5.6% |
| DAS Acquisition Company, LLC | $1,895,000 | $11,180,000 | 490.0% | 4.3% |
| Wildfire Credit Union | $8,870,000 | $10,775,000 | 21.5% | 4.1% |
| United Bay Community Credit Union | $6,460,000 | $10,545,000 | 63.2% | 4.0% |
| Independent Bank | $6,755,000 | $10,080,000 | 49.2% | 3.8% |
| Frankenmuth Credit Union | $16,070,000 | $9,345,000 | -41.8% | 3.6% |
| DOW CHEMICAL EMPLOYEES' | $8,350,000 | $6,850,000 | -18.0% | 2.6% |
| 1st State Financial, Ltd. | $5,120,000 | $6,820,000 | 33.2% | 2.6% |
| FIRST COMMUNITY MORTGAGE, INC. | $4,005,000 | $6,225,000 | 55.4% | 2.4% |
| Merchants Bank of Indiana | $6,195,000 | n/a | 2.4% | |
| Mortgage Research Center, LLC | $3,685,000 | $5,555,000 | 50.7% | 2.1% |
| FinancialEdge Community Credit Union | $4,085,000 | $5,525,000 | 35.3% | 2.1% |
| JOLT CREDIT UNION | $3,480,000 | $4,530,000 | 30.2% | 1.7% |
| LAKE MICHIGAN CREDIT UNION | $3,355,000 | $4,025,000 | 20.0% | 1.5% |
| SUNRISE FAMILY CREDIT UNION | $3,235,000 | $3,410,000 | 5.4% | 1.3% |
| FINANCIAL PLUS CREDIT UNION | $3,235,000 | $3,180,000 | -1.7% | 1.2% |
| Isabella Bank | $3,010,000 | $3,165,000 | 5.1% | 1.2% |
| The Dart Bank | $1,070,000 | $3,130,000 | 192.5% | 1.2% |
| Preston Home Loans Inc | $1,180,000 | $3,060,000 | 159.3% | 1.2% |
| UNITED FINANCIAL Credit Union | $2,175,000 | $2,460,000 | 13.1% | 0.9% |
| Fifth Third Bank | $1,205,000 | $2,370,000 | 96.7% | 0.9% |
| BLG HOLDINGS, INC. | $925,000 | $2,290,000 | 147.6% | 0.9% |
| Mercantile Bank of Michigan | $775,000 | $2,210,000 | 185.2% | 0.8% |
| PNC Bank | $8,095,000 | $2,100,000 | -74.1% | 0.8% |
| JPMorgan Chase Bank | $1,380,000 | $1,940,000 | 40.6% | 0.7% |
| TOP FLITE FINANCIAL, INC. | $1,105,000 | $1,915,000 | 73.3% | 0.7% |
| CREDIT UNION ONE | $760,000 | $1,700,000 | 123.7% | 0.6% |
| Great Lakes Federal Credit Union | $1,125,000 | $1,620,000 | 44.0% | 0.6% |
| J. VIRGIL, INC. | $2,145,000 | $1,520,000 | -29.1% | 0.6% |
| TEAM ONE CREDIT UNION | $1,605,000 | $1,500,000 | -6.5% | 0.6% |
| NEWREZ LLC | $1,025,000 | $1,450,000 | 41.5% | 0.6% |
| GUILD MORTGAGE COMPANY | $145,000 | $1,310,000 | 803.4% | 0.5% |
| FREEDOM MORTGAGE CORPORATION | $685,000 | $1,280,000 | 86.9% | 0.5% |
| LOANDEPOT.COM, LLC | $1,000,000 | $1,250,000 | 25.0% | 0.5% |
| NEW DAY FINANCIAL, LLC | $280,000 | $1,120,000 | 300.0% | 0.4% |
| NAVY FEDERAL CREDIT UNION | $1,955,000 | $1,075,000 | -45.0% | 0.4% |
| 21ST MORTGAGE CORPORATION | $1,675,000 | $1,040,000 | -37.9% | 0.4% |
| MORTGAGE 1 INCORPORATED | $1,035,000 | $1,005,000 | -2.9% | 0.4% |
| Horizon Bank | $445,000 | $990,000 | 122.5% | 0.4% |
| The State Bank | $680,000 | $985,000 | 44.9% | 0.4% |
| MEMBERS FIRST Credit Union | $610,000 | $880,000 | 44.3% | 0.3% |
| CROSSCOUNTRY MORTGAGE, LLC | $660,000 | $855,000 | 29.5% | 0.3% |
| Morgan Stanley Private Bank | $855,000 | n/a | 0.3% | |
| VELOCITY COMMERCIAL CAPITAL, LLC | $95,000 | $855,000 | 800.0% | 0.3% |
| Citizens Bank | $305,000 | $745,000 | 144.3% | 0.3% |
| UNION HOME MORTGAGE CORP. | $765,000 | $740,000 | -3.3% | 0.3% |
| MICHIGAN MUTUAL, INC. | $3,475,000 | $725,000 | -79.1% | 0.3% |
| Figure Lending LLC | $225,000 | $700,000 | 211.1% | 0.3% |
| GENEVA FINANCIAL, LLC | $950,000 | $695,000 | -26.8% | 0.3% |
| Equity Prime Mortgage LLC | $630,000 | $675,000 | 7.1% | 0.3% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $635,000 | $675,000 | 6.3% | 0.3% |
| Carrington Mortgage Services, LLC | $670,000 | n/a | 0.3% | |
| CHURCHILL MORTGAGE CORPORATION | $205,000 | $650,000 | 217.1% | 0.2% |
| Thumb Bank and Trust | $855,000 | $645,000 | -24.6% | 0.2% |
| GUARANTEED RATE, INC. | $110,000 | $640,000 | 481.8% | 0.2% |
| PENNYMAC LOAN SERVICES, LLC | $1,735,000 | $635,000 | -63.4% | 0.2% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $315,000 | $625,000 | 98.4% | 0.2% |
| BROKER SOLUTIONS, INC. | $550,000 | $585,000 | 6.4% | 0.2% |
| Adventure Credit Union | $570,000 | n/a | 0.2% | |
| HEALTH ADVANTAGE FEDERAL CREDIT UNION | $85,000 | $565,000 | 564.7% | 0.2% |
| Servion, Inc. | $1,860,000 | $560,000 | -69.9% | 0.2% |
| Lake Huron Credit Union | $520,000 | $540,000 | 3.8% | 0.2% |
| AMERICAN FINANCIAL RESOURCES, INC. | $105,000 | $530,000 | 404.8% | 0.2% |
| Mr. Cooper ( Nationstar Mortgage ) | $800,000 | $530,000 | -33.8% | 0.2% |
| First Federal Savings Bank of Twin Falls | $525,000 | n/a | 0.2% | |
| First Merchants Bank | $545,000 | $525,000 | -3.7% | 0.2% |
| GENISYS | $115,000 | $505,000 | 339.1% | 0.2% |
| GreenStone Farm Credit Services, FLCA | $520,000 | $485,000 | -6.7% | 0.2% |
| Citibank | $475,000 | n/a | 0.2% | |
| Dort Financial Credit Union | $330,000 | $460,000 | 39.4% | 0.2% |
| CALCON MUTUAL MORTGAGE LLC | $450,000 | n/a | 0.2% | |
| VILLAGE CAPITAL MORTGAGE | $445,000 | n/a | 0.2% | |
| American Mortgage & Equity Consultants, Inc. | $155,000 | $415,000 | 167.7% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $235,000 | $415,000 | 76.6% | 0.2% |
| ROSS MORTGAGE CORPORATION | $55,000 | $415,000 | 654.5% | 0.2% |
| AMERICAN HERITAGE LENDING, INC. | $410,000 | n/a | 0.2% | |
| RBC Bank, (Georgia) | $410,000 | n/a | 0.2% | |
| GVC MORTGAGE, INC. | $270,000 | $405,000 | 50.0% | 0.2% |
| AMERICAN FINANCIAL NETWORK, INC. | $400,000 | n/a | 0.2% | |
| SUN WEST MORTGAGE COMPANY, INC. | $380,000 | n/a | 0.1% | |
| Wells Fargo Bank | $585,000 | $380,000 | -35.0% | 0.1% |
| Discover Bank | $575,000 | $375,000 | -34.8% | 0.1% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $365,000 | n/a | 0.1% | |
| ChoiceOne Bank | $350,000 | $365,000 | 4.3% | 0.1% |
| HOWARD HANNA FINANCIAL SERVICES, INC. | $365,000 | n/a | 0.1% | |
| MID AMERICA MORTGAGE, INC. | $285,000 | $365,000 | 28.1% | 0.1% |
| MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $2,090,000 | $350,000 | -83.3% | 0.1% |
| USAA Federal Savings Bank | $695,000 | $350,000 | -49.6% | 0.1% |
| Cornerstone First Mortgage, Inc | $340,000 | n/a | 0.1% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $325,000 | $335,000 | 3.1% | 0.1% |
| COMMUNITY FINANCIAL CREDIT UNION | $95,000 | $330,000 | 247.4% | 0.1% |
| BETTER MORTGAGE CORPORATION | $315,000 | n/a | 0.1% | |
| Mortgage Assurance Inc. | $285,000 | n/a | 0.1% | |
| NETWORK CAPITAL FUNDING CORPORATION | $285,000 | n/a | 0.1% | |
| CONSUMERS | $430,000 | $275,000 | -36.0% | 0.1% |
| University Bank | $275,000 | n/a | 0.1% | |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $270,000 | n/a | 0.1% | |
| LENDINGHOME FUNDING CORPORATION | $1,605,000 | $260,000 | -83.8% | 0.1% |
| CANOPY MORTGAGE, LLC | $270,000 | $250,000 | -7.4% | 0.1% |
| CARDINAL FINANCIAL | $1,715,000 | $230,000 | -86.6% | 0.1% |
| MORTGAGE CENTER L.C | $165,000 | $230,000 | 39.4% | 0.1% |
| MICHIGAN SCHOOLS AND GOVERNMENT | $530,000 | $220,000 | -58.5% | 0.1% |
| PLANET HOME LENDING, LLC | $215,000 | n/a | 0.1% | |
| CLEARPATH LENDING | $205,000 | n/a | 0.1% | |
| NASA Federal Credit Union | $205,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $100,000 | $205,000 | 105.0% | 0.1% |
| MOVEMENT MORTGAGE, LLC | $285,000 | $195,000 | -31.6% | 0.1% |
| PHH Mortgage Corporation | $195,000 | n/a | 0.1% | |
| MEMBER FIRST MORTGAGE, LLC | $115,000 | $185,000 | 60.9% | 0.1% |
| RELIANCE FIRST CAPITAL, LLC | $365,000 | $185,000 | -49.3% | 0.1% |
| RUOFF MORTGAGE COMPANY, INC. | $185,000 | n/a | 0.1% | |
| Comerica Bank | $195,000 | $180,000 | -7.7% | 0.1% |
| First State Bank | $380,000 | $170,000 | -55.3% | 0.1% |
| HOMESIDE FINANCIAL, LLC | $75,000 | $170,000 | 126.7% | 0.1% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $120,000 | $165,000 | 37.5% | 0.1% |
| Merchants Mortgage & Trust Corporation | $165,000 | n/a | 0.1% | |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $165,000 | n/a | 0.1% | |
| ZILLOW HOME LOANS, LLC | $200,000 | $160,000 | -20.0% | 0.1% |
| NexBank | $155,000 | n/a | 0.1% | |
| SUCCESS MORTGAGE PARTNERS, INC. | $95,000 | $150,000 | 57.9% | 0.1% |
| Providence Bank & Trust | $145,000 | n/a | 0.1% | |
| T2 FINANCIAL LLC | $145,000 | n/a | 0.1% | |
| Century Mortgage Company DBA Century Lending Company | $135,000 | n/a | 0.1% | |
| MARSHALL COMMUNITY CREDIT UNION | $135,000 | n/a | 0.1% | |
| Northpointe Bank | $55,000 | $135,000 | 145.5% | 0.1% |
| United Bank of Michigan | $135,000 | n/a | 0.1% | |
| AmeriHome Mortgage Company, LLC | $125,000 | n/a | 0.0% | |
| EVERETT FINANCIAL, INC. | $125,000 | n/a | 0.0% | |
| LIMA ONE CAPITAL, LLC | $290,000 | $125,000 | -56.9% | 0.0% |
| Coastal Community Bank | $80,000 | $120,000 | 50.0% | 0.0% |
| Bank of England | $115,000 | n/a | 0.0% | |
| TRIAD FINANCIAL SERVICES, INC. | $40,000 | $100,000 | 150.0% | 0.0% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $95,000 | n/a | 0.0% | |
| BM Real Estate Services, Inc. | $120,000 | $95,000 | -20.8% | 0.0% |
| DOMINION FINANCIAL SERVICES, LLC | $95,000 | n/a | 0.0% | |
| SOUTHWEST FUNDING, LP | $95,000 | n/a | 0.0% | |
| TOWNE MORTGAGE COMPANY | $95,000 | n/a | 0.0% | |
| WINGS FINANCIAL | $95,000 | n/a | 0.0% | |
| Honor Credit Union | $90,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $35,000 | $90,000 | 157.1% | 0.0% |
| UNIVERSITY OF MICHIGAN CREDIT UNION | $85,000 | n/a | 0.0% | |
| PLAZA HOME MORTGAGE, INC. | $365,000 | $75,000 | -79.5% | 0.0% |
| AMERICAN FINANCING CORPORATION | $55,000 | $65,000 | 18.2% | 0.0% |
| Beeline Loans, Inc. | $65,000 | n/a | 0.0% | |
| Herring Bank | $65,000 | n/a | 0.0% | |
| LONGBRIDGE FINANCIAL, LLC | $65,000 | n/a | 0.0% | |
| NBKC BANK | $145,000 | $65,000 | -55.2% | 0.0% |
| Flagstar Bank, FSB | $100,000 | $50,000 | -50.0% | 0.0% |
| LAKEVIEW LOAN SERVICING, LLC | $35,000 | n/a | 0.0% | |
| THRIVENT Federal Credit Union | $35,000 | n/a | 0.0% | |
| ALLIANT CREDIT UNION | $25,000 | n/a | 0.0% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $25,000 | n/a | 0.0% | |
| GREENSTATE CREDIT UNION | $45,000 | $25,000 | -44.4% | 0.0% |
| The Loan Store, Inc. | $25,000 | n/a | 0.0% | |
| U.S. Bank | $75,000 | $25,000 | -66.7% | 0.0% |
BAY CITY's top lender by overall market share is QUICKEN LOANS, LLC, with 8.8% market share. In second place, with 8.5%, is STAUNTON FINANCIAL, INC., having originated $22,275,000 in loans. In third place, with 7.0%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $18,445,000 in loans. In fourth place, with 5.6%, is The Huntington National Bank, having originated $14,820,000 in loans. In fifth place, with 4.3%, is DAS Acquisition Company, LLC, having originated $11,180,000 in loans.
BAY CITY, MI Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,091 | $172,705,000 | $158,300 |
| Cash Out Refi | 339 | $40,275,000 | $118,805 |
| Other | 188 | $12,140,000 | $64,574 |
| Home Improvement | 186 | $10,390,000 | $55,860 |
| Refi | 160 | $27,090,000 | $169,313 |
Bay City's most frequently cited loan purpose was Home Purchase, with 1,091 originations. The 2nd most popular reason was Cash Out Refi, with 339 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 796 | $122,510,000 | $153,907 |
| 7-8% | 361 | $50,075,000 | $138,712 |
| Over 8% | 348 | $31,670,000 | $91,006 |
| 5-6% | 170 | $26,440,000 | $155,529 |
| <2.5% | 8 | $80,000 | $10,000 |
| 4-5% | 8 | $1,150,000 | $143,750 |
| 3-4% | 1 | $75,000 | $75,000 |
During 2024, Bay City's most frequently originated rate bucket was 6-7%, with 796 originations.
Loan Sizing (BAY CITY, MI MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 840 | $48,230,000 | $57,417 |
| $100k-200k | 812 | $116,080,000 | $142,956 |
| $200k-400k | 277 | $74,715,000 | $269,729 |
| $400k-600k | 30 | $13,900,000 | $463,333 |
| $600k-1000k | 3 | $2,475,000 | $825,000 |
| $Over $1MM | 2 | $7,200,000 | $3,600,000 |
BAY CITY's loan sizing saw the bucket of loans from $100,000 or less with 840 originations, totaling $48,230,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 783 | $129,815,000 | $165,792 |
| 60-80% | 365 | $60,495,000 | $165,740 |
| 20-40% | 208 | $12,720,000 | $61,154 |
| 40-60% | 150 | $17,760,000 | $118,400 |
| Under 20% | 150 | $4,800,000 | $32,000 |
| Over 100% | 14 | $2,970,000 | $212,143 |
BAY CITY's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 783 originations, totaling $129,815,000 in origination value.