Big Rapids Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Big Rapids averaged
7.16%
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
7.09% and
one month ago for the week of 2025-05-15, the
average rate was 7.16%.
Big Rapids's average rate one year ago was 7.3%.
For refis of the same type during the week of 2025-06-18, the average rate
was 7.11%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Big Rapids 30 Year Fixed Rate | 2025-06-18 | 7.16% |
| Big Rapids 30 Year Fixed Rate Refi | 2025-06-18 | 7.11% |
| Big Rapids 15 Year Fixed Rate | 2025-06-18 | 6.16% |
| Big Rapids 15 Year Fixed Rate Refi | 2025-06-18 | 6.16% |
| Big Rapids 30 Year FHA | 2025-06-18 | -0.2% |
| Big Rapids 30 Year FHA Refi | 2025-06-18 | -0.1% |
| Big Rapids 30 Year USDA | 2025-06-18 | 0.1% |
| Big Rapids 30 Year USDA Refi | 2025-06-18 | 0.2% |
| Big Rapids 30 Year VA | 2025-06-18 | 0% |
| Big Rapids 30 Year VA Refi | 2025-06-18 | 0% |
Big Rapids 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 Big Rapids, 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.).
Big Rapids Average Closing Costs & Other Stats
Big Rapids, MI's 81 lenders originated 825
loans during 2024. The total origination value was $158,755,000, with an average loan value of
$192,430.
Big Rapids's average closing costs are $4,207.
The top Big Rapids lender as defined by loan originations is LAKE MICHIGAN CREDIT UNION, with
27 loans originated. Their average total fees are
$3,774, which is $1,949
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Big Rapids lenders (with over 10 loans originated) are
Isabella Bank ($2,691), Independent Bank ($2,993), Mercantile Bank of Michigan ($3,405), Fifth Third Bank ($3,713) and LAKE MICHIGAN CREDIT UNION ($3,774).
The lowest rate Big Rapids lenders (with over 10 loans originated) are
Isabella Bank (5.88%), LAKE MICHIGAN CREDIT UNION (6.56%), Mercantile Bank of Michigan (6.77%), QUICKEN LOANS, LLC (6.81%) and UNITED WHOLESALE MORTGAGE, LLC (6.84%).
Big Rapids, 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 |
|---|---|---|---|---|
| Isabella Bank | $16,470,000 | $13,755,000 | -16.5% | 8.7% |
| LAKE MICHIGAN CREDIT UNION | $5,685,000 | $11,295,000 | 98.7% | 7.1% |
| QUICKEN LOANS, LLC | $8,650,000 | $11,125,000 | 28.6% | 7.0% |
| The Huntington National Bank | $8,390,000 | $9,065,000 | 8.0% | 5.7% |
| UNITED WHOLESALE MORTGAGE, LLC | $5,565,000 | $8,430,000 | 51.5% | 5.3% |
| Mercantile Bank of Michigan | $3,150,000 | $7,120,000 | 126.0% | 4.5% |
| Independent Bank | $3,595,000 | $5,080,000 | 41.3% | 3.2% |
| County National Bank | $4,225,000 | n/a | 2.7% | |
| GUILD MORTGAGE COMPANY | $1,105,000 | $3,975,000 | 259.7% | 2.5% |
| Fifth Third Bank | $3,480,000 | $3,760,000 | 8.0% | 2.4% |
| UNION HOME MORTGAGE CORP. | $3,490,000 | $3,585,000 | 2.7% | 2.3% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $3,275,000 | n/a | 2.1% | |
| Mortgage Research Center, LLC | $1,550,000 | $3,210,000 | 107.1% | 2.0% |
| The Dart Bank | $1,880,000 | $3,210,000 | 70.7% | 2.0% |
| GreenStone Farm Credit Services, FLCA | $2,165,000 | $3,160,000 | 46.0% | 2.0% |
| Horizon Bank | $1,940,000 | $2,820,000 | 45.4% | 1.8% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $580,000 | $2,690,000 | 363.8% | 1.7% |
| FIRST COMMUNITY MORTGAGE, INC. | $1,175,000 | $2,420,000 | 106.0% | 1.5% |
| ChoiceOne Bank | $2,150,000 | $2,115,000 | -1.6% | 1.3% |
| Mr. Cooper ( Nationstar Mortgage ) | $735,000 | $2,075,000 | 182.3% | 1.3% |
| COMMUNITY FIRST | $715,000 | $1,960,000 | 174.1% | 1.2% |
| CONSUMERS | $1,660,000 | $1,885,000 | 13.6% | 1.2% |
| Flagstar Bank, FSB | $515,000 | $1,775,000 | 244.7% | 1.1% |
| MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $490,000 | $1,760,000 | 259.2% | 1.1% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $95,000 | $1,290,000 | 1,257.9% | 0.8% |
| PNC Bank | $320,000 | $1,280,000 | 300.0% | 0.8% |
| Preston Home Loans Inc | $365,000 | $1,200,000 | 228.8% | 0.8% |
| BROKER SOLUTIONS, INC. | $1,235,000 | $1,170,000 | -5.3% | 0.7% |
| CHURCHILL MORTGAGE CORPORATION | $770,000 | $1,145,000 | 48.7% | 0.7% |
| MORTGAGE 1 INCORPORATED | $2,990,000 | $1,120,000 | -62.5% | 0.7% |
| Carrington Mortgage Services, LLC | $355,000 | $1,085,000 | 205.6% | 0.7% |
| JPMorgan Chase Bank | $710,000 | $925,000 | 30.3% | 0.6% |
| West Michigan Credit Union | $2,425,000 | $825,000 | -66.0% | 0.5% |
| First Merchants Bank | $400,000 | $800,000 | 100.0% | 0.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $220,000 | $780,000 | 254.5% | 0.5% |
| VAN DYK MORTGAGE CORPORATION | $125,000 | $755,000 | 504.0% | 0.5% |
| United Bank of Michigan | $355,000 | $730,000 | 105.6% | 0.5% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $580,000 | $700,000 | 20.7% | 0.4% |
| GUARANTEED RATE, INC. | $365,000 | $685,000 | 87.7% | 0.4% |
| Barrington Bank & Trust Company, N.A. | $425,000 | $670,000 | 57.6% | 0.4% |
| DOMINION FINANCIAL SERVICES, LLC | $665,000 | n/a | 0.4% | |
| PENNYMAC LOAN SERVICES, LLC | $1,165,000 | $665,000 | -42.9% | 0.4% |
| DOW CHEMICAL EMPLOYEES' | $155,000 | $655,000 | 322.6% | 0.4% |
| USAA Federal Savings Bank | $645,000 | n/a | 0.4% | |
| SUCCESS MORTGAGE PARTNERS, INC. | $515,000 | $640,000 | 24.3% | 0.4% |
| Wells Fargo Bank | $195,000 | $635,000 | 225.6% | 0.4% |
| Northpointe Bank | $165,000 | $615,000 | 272.7% | 0.4% |
| West Michigan Community Bank | $535,000 | $615,000 | 15.0% | 0.4% |
| 21ST MORTGAGE CORPORATION | $465,000 | $595,000 | 28.0% | 0.4% |
| MMS MORTGAGE SERVICES, LTD. | $660,000 | $595,000 | -9.8% | 0.4% |
| CROSSCOUNTRY MORTGAGE, LLC | $605,000 | $575,000 | -5.0% | 0.4% |
| BLG HOLDINGS, INC. | $570,000 | n/a | 0.4% | |
| Michigan Educational Credit Union | $305,000 | $560,000 | 83.6% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $555,000 | n/a | 0.3% | |
| NAVY FEDERAL CREDIT UNION | $110,000 | $545,000 | 395.5% | 0.3% |
| NEW DAY FINANCIAL, LLC | $380,000 | $530,000 | 39.5% | 0.3% |
| American Mortgage & Equity Consultants, Inc. | $510,000 | n/a | 0.3% | |
| TOP FLITE FINANCIAL, INC. | $935,000 | $505,000 | -46.0% | 0.3% |
| ZILLOW HOME LOANS, LLC | $490,000 | n/a | 0.3% | |
| S1L, Inc. | $480,000 | n/a | 0.3% | |
| Macatawa Bank | $135,000 | $475,000 | 251.9% | 0.3% |
| NEWREZ LLC | $385,000 | $475,000 | 23.4% | 0.3% |
| FIRST COLONY MORTGAGE CORPORATION | $450,000 | n/a | 0.3% | |
| MICHIGAN SCHOOLS AND GOVERNMENT | $35,000 | $450,000 | 1,185.7% | 0.3% |
| CMG MORTGAGE, INC. | $245,000 | $435,000 | 77.6% | 0.3% |
| LOANDEPOT.COM, LLC | $630,000 | $405,000 | -35.7% | 0.3% |
| VILLAGE CAPITAL MORTGAGE | $205,000 | $405,000 | 97.6% | 0.3% |
| DFCU FINANCIAL | $550,000 | $390,000 | -29.1% | 0.2% |
| Grand River Bank | $375,000 | n/a | 0.2% | |
| GERBER FEDERAL CREDIT UNION | $285,000 | $370,000 | 29.8% | 0.2% |
| BMO Harris Bank | $345,000 | n/a | 0.2% | |
| PLANET HOME LENDING, LLC | $325,000 | n/a | 0.2% | |
| Farmers Bank & Trust | $315,000 | n/a | 0.2% | |
| RUOFF MORTGAGE COMPANY, INC. | $190,000 | $315,000 | 65.8% | 0.2% |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $590,000 | $305,000 | -48.3% | 0.2% |
| STAUNTON FINANCIAL, INC. | $185,000 | $300,000 | 62.2% | 0.2% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $285,000 | n/a | 0.2% | |
| J. VIRGIL, INC. | $330,000 | $265,000 | -19.7% | 0.2% |
| UIF CORPORATION | $265,000 | n/a | 0.2% | |
| AMERISAVE MORTGAGE CORPORATION | $260,000 | n/a | 0.2% | |
| MEMBERS FIRST Credit Union | $165,000 | $255,000 | 54.5% | 0.2% |
| NORTHERN MORTGAGE SERVICES, LLC | $450,000 | $250,000 | -44.4% | 0.2% |
| First National Bank Texas | $245,000 | n/a | 0.2% | |
| OCMBC, INC. | $245,000 | n/a | 0.2% | |
| Servion, Inc. | $245,000 | n/a | 0.2% | |
| RESIDENTIAL BANCORP | $235,000 | n/a | 0.1% | |
| ROSS MORTGAGE CORPORATION | $540,000 | $235,000 | -56.5% | 0.1% |
| Adventure Credit Union | $295,000 | $225,000 | -23.7% | 0.1% |
| Century Mortgage Company DBA Century Lending Company | $225,000 | n/a | 0.1% | |
| Cornerstone Bank | $85,000 | $225,000 | 164.7% | 0.1% |
| DAS Acquisition Company, LLC | $225,000 | n/a | 0.1% | |
| NATIONWIDE MORTGAGE BANKERS, INC. | $225,000 | n/a | 0.1% | |
| GVC MORTGAGE, INC. | $400,000 | $215,000 | -46.3% | 0.1% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $215,000 | n/a | 0.1% | |
| MICHIGAN MUTUAL, INC. | $180,000 | $210,000 | 16.7% | 0.1% |
| Bank of America | $205,000 | n/a | 0.1% | |
| Sunflower Bank | $205,000 | n/a | 0.1% | |
| T2 FINANCIAL LLC | $125,000 | $205,000 | 64.0% | 0.1% |
| COMMUNITY FINANCIAL CREDIT UNION | $185,000 | n/a | 0.1% | |
| EMM LOANS LLC | $185,000 | n/a | 0.1% | |
| Old National Bank | $195,000 | $185,000 | -5.1% | 0.1% |
| STAR Financial Bank | $185,000 | n/a | 0.1% | |
| Comerica Bank | $530,000 | $180,000 | -66.0% | 0.1% |
| AmeriHome Mortgage Company, LLC | $210,000 | $175,000 | -16.7% | 0.1% |
| Equity Prime Mortgage LLC | $175,000 | n/a | 0.1% | |
| KENT COUNTY CREDIT UNION | $140,000 | $170,000 | 21.4% | 0.1% |
| LAFCU | $35,000 | $165,000 | 371.4% | 0.1% |
| NexBank | $165,000 | n/a | 0.1% | |
| Citizens Bank | $440,000 | $160,000 | -63.6% | 0.1% |
| Discover Bank | $85,000 | $160,000 | 88.2% | 0.1% |
| ROYAL UNITED MORTGAGE LLC | $75,000 | $160,000 | 113.3% | 0.1% |
| Meijer Credit Union | $45,000 | $155,000 | 244.4% | 0.1% |
| BETTER MORTGAGE CORPORATION | $235,000 | $145,000 | -38.3% | 0.1% |
| CONTOUR MORTGAGE CORPORATION | $175,000 | $135,000 | -22.9% | 0.1% |
| First Western Bank & Trust | $135,000 | n/a | 0.1% | |
| CREDIT UNION ONE | $35,000 | $130,000 | 271.4% | 0.1% |
| AMERICAN FINANCING CORPORATION | $295,000 | $125,000 | -57.6% | 0.1% |
| AMERICAN HERITAGE LENDING, INC. | $125,000 | n/a | 0.1% | |
| ARBOR FINANCIAL CREDIT UNION | $125,000 | n/a | 0.1% | |
| Third Federal Savings and Loan Association of Cleveland | $115,000 | n/a | 0.1% | |
| The Loan Store, Inc. | $105,000 | n/a | 0.1% | |
| Coastal Community Bank | $25,000 | $100,000 | 300.0% | 0.1% |
| Community West Credit Union | $245,000 | $95,000 | -61.2% | 0.1% |
| UNIVERSITY OF MICHIGAN CREDIT UNION | $155,000 | $85,000 | -45.2% | 0.1% |
| Figure Lending LLC | $80,000 | n/a | 0.1% | |
| MICHIGAN ONE COMMUNITY Credit Union | $75,000 | n/a | 0.0% | |
| ELGA CREDIT UNION | $190,000 | $55,000 | -71.1% | 0.0% |
| Lake Trust Credit Union | $235,000 | $55,000 | -76.6% | 0.0% |
| LOANPAL, LLC | $55,000 | n/a | 0.0% | |
| PFCU | $45,000 | n/a | 0.0% | |
| GENISYS | $405,000 | $35,000 | -91.4% | 0.0% |
| Honor Credit Union | $190,000 | $25,000 | -86.8% | 0.0% |
| LAKEVIEW LOAN SERVICING, LLC | $25,000 | n/a | 0.0% | |
| UNITED | $25,000 | n/a | 0.0% | |
| BIRMINGHAM-BLOOMFIELD Credit Union | $15,000 | n/a | 0.0% |
Big Rapids's top lender by overall market share is Isabella Bank, with 8.7% market share. In second place, with 7.1%, is LAKE MICHIGAN CREDIT UNION, having originated $11,295,000 in loans. In third place, with 7.0%, is QUICKEN LOANS, LLC, having originated $11,125,000 in loans. In fourth place, with 5.7%, is The Huntington National Bank, having originated $9,065,000 in loans. In fifth place, with 5.3%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $8,430,000 in loans.
Big Rapids, MI Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 433 | $103,645,000 | $239,365 |
| Cash Out Refi | 112 | $16,590,000 | $148,125 |
| Refi | 108 | $22,270,000 | $206,204 |
| Home Improvement | 95 | $7,555,000 | $79,526 |
| Other | 77 | $8,695,000 | $112,922 |
Big Rapids's most frequently cited loan purpose was Home Purchase, with 433 originations. The 2nd most popular reason was Cash Out Refi, with 112 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 323 | $64,655,000 | $200,170 |
| 7-8% | 184 | $39,050,000 | $212,228 |
| Over 8% | 169 | $17,675,000 | $104,586 |
| 5-6% | 81 | $18,515,000 | $228,580 |
| <2.5% | 5 | $45,000 | $9,000 |
| 4-5% | 4 | $760,000 | $190,000 |
| 3-4% | 1 | $145,000 | $145,000 |
| 2.5-3% | 1 | $125,000 | $125,000 |
During 2024, Big Rapids's most frequently originated rate bucket was 6-7%, with 323 originations.
Loan Sizing (Big Rapids, MI MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 272 | $40,050,000 | $147,243 |
| $100,000 or less | 255 | $14,035,000 | $55,039 |
| $200k-400k | 246 | $66,820,000 | $271,626 |
| $400k-600k | 38 | $18,550,000 | $488,158 |
| $600k-1000k | 8 | $5,130,000 | $641,250 |
| $Over $1MM | 6 | $14,170,000 | $2,361,667 |
Big Rapids's loan sizing saw the bucket of loans from $100k-200k with 272 originations, totaling $40,050,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 292 | $69,770,000 | $238,938 |
| 60-80% | 158 | $37,720,000 | $238,734 |
| 20-40% | 121 | $10,825,000 | $89,463 |
| Under 20% | 101 | $4,505,000 | $44,604 |
| 40-60% | 82 | $15,320,000 | $186,829 |
| Over 100% | 6 | $1,370,000 | $228,333 |
Big Rapids's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 292 originations, totaling $69,770,000 in origination value.