Big Rapids Mortgage Rates

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Big Rapids averaged 6.06% for the week of 2022-06-30, compared to the national average of 5.7% for the same period.

The average rate for the prior week (2022-06-23) was 5.87% and one month ago for the week of 2022-05-26, the average rate was 5.46%.

Big Rapids's average rate one year ago was 3.13%.

For refis of the same type during the week of 2022-06-30, the average rate was 5.78%.

Loan Type Date Rate
US 30 Year Fixed Rate 2022-06-30 5.7%
Big Rapids 30 Year Fixed Rate 2022-06-30 6.06%
Big Rapids 30 Year Fixed Rate Refi 2022-06-30 5.78%
Big Rapids 15 Year Fixed Rate 2022-06-30 5.25%
Big Rapids 15 Year Fixed Rate Refi 2022-06-30 5.02%
Big Rapids 30 Year FHA 2022-06-30 6.29%
Big Rapids 30 Year FHA Refi 2022-06-30 5.83%
Big Rapids 30 Year USDA 2022-06-30 5.86%
Big Rapids 30 Year USDA Refi 2022-06-30 5.94%
Big Rapids 30 Year VA 2022-06-30 5.76%
Big Rapids 30 Year VA Refi 2022-06-30 5.44%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Big Rapids, MI.

Big Rapids Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lendor, 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.).

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 69 3.15% $4,335
Isabella Bank 64 2.89% $2,720
LAKE MICHIGAN CREDIT UNION 43 3.12% $3,017
Neighborhood Loans, Inc. 38 3.29% $2,981
The Huntington National Bank 37 3.23% $2,985
Independent Bank 32 3.10% $2,530
Fifth Third Bank 27 3.21% $2,795
AMERIFIRST FINANCIAL CORPORATION 27 3.24% $3,353
UNITED WHOLESALE MORTGAGE, LLC 22 3.04% $3,405
Mercantile Bank of Michigan 19 3.22% $2,616
TOP FLITE FINANCIAL, INC. 18 3.22% $4,686
MORTGAGE 1 INCORPORATED 14 3.42% $3,391
West Michigan Credit Union 13 2.89% $3,681
JPMorgan Chase Bank 10 2.98% $2,997
TCF National Bank 7 3.09% $2,294
Wells Fargo Bank 7 3.32% $3,571
UNION HOME MORTGAGE CORP. 7 3.36% $5,017
GreenStone Farm Credit Services, FLCA 7 3.71% $4,856
MORTGAGE CENTER L.C 6 3.10% $3,240
Mr. Cooper ( Nationstar Mortgage ) 6 3.31% $3,576
LOANDEPOT.COM, LLC 6 3.42% $4,018
ChoiceOne Bank 6 3.50% $2,054
CHURCHILL MORTGAGE CORPORATION 6 3.67% $3,336
CONSUMERS 6 4.08% $2,424
PNC Bank 5 3.55% $1,459
VAN DYK MORTGAGE CORPORATION 5 2.88% $2,725
AMERISAVE MORTGAGE CORPORATION 5 2.77% $6,950
PRIMELENDING, A PLAINSCAPITAL COMPANY 5 3.35% $3,161
FINANCE OF AMERICA MORTGAGE LLC 5 3.77% $4,437
HOME POINT FINANCIAL CORPORATION 4 3.62% $3,265
BETTER MORTGAGE CORPORATION 4 2.84% $3,691
Flagstar Bank, FSB 4 3.32% $2,946
MMS MORTGAGE SERVICES, LTD. 4 3.22% $2,966
The Dart Bank 4 3.28% $2,781
United Bank of Michigan 4 3.81% $1,907
MEMBERS FIRST Credit Union 3 2.88% $1,505
CALIBER HOME LOANS, INC. 3 3.12% $3,483
NEWREZ LLC 3 4.17% $2,762
Carrington Mortgage Services, LLC 3 3.33% $3,206
ACADEMY MORTGAGE CORPORATION 3 3.13% $3,133
INLANTA MORTGAGE, INC. 3 3.63% $3,499
NORTHERN MORTGAGE SERVICES, LLC 3 3.54% $3,391
MUTUAL OF OMAHA MORTGAGE, INC. 3 3.21% $3,949
HOMESIDE FINANCIAL, LLC 3 3.42% $3,517
Bank of America 3 2.75% $3,183
GUARANTEED RATE, INC. 3 3.08% $2,569
Adventure Credit Union 2 3.38% $2,264
MEMBER FIRST MORTGAGE, LLC 2 3.13% $2,523
AMERICAN FINANCIAL RESOURCES, INC. 2 3.19% $4,901
Ally Bank 2 3.31% $1,445
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 3.37% $4,842
Northpointe Bank 2 3.13% $2,989
Hometown Lenders, Inc. 2 3.37% $3,394
Old National Bank 2 3.38% $1,370
Paramount Residential Mortgage Group, Inc. 2 3.63% $4,095
MICHIGAN MUTUAL, INC. 2 3.50% $3,733
MICHIGAN SCHOOLS AND GOVERNMENT 2 2.75% $2,144
PREMIA MORTGAGE, LLC 2 3.00% $250
LAKEVIEW LOAN SERVICING, LLC 2 3.00% $4,177
RBC Bank, (Georgia) 2 3.31% $2,190
Community West Credit Union 2 2.94% $2,350
ROYAL UNITED MORTGAGE LLC 2 3.69% $5,447
GENISYS 2 2.88% $2,353
STAUNTON FINANCIAL, INC. 2 2.94% $2,446
SUCCESS MORTGAGE PARTNERS, INC. 2 3.25% $6,407
North American Savings Bank, F.S.B. 1 2.50% $2,049
OAK MORTGAGE, LLC 1 2.88% $2,995
PENNYMAC LOAN SERVICES, LLC 1 2.88% $1,817
PLAZA HOME MORTGAGE, INC. 1 3.50% $3,371
BLG HOLDINGS, INC. 1 3.00% $3,664
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 3.63% $5,929
RESIDENTIAL BANCORP. 1 2.75% $4,508
ROSS MORTGAGE CORPORATION 1 3.88% $2,922
SOFI LENDING CORP. 1 2.88% $2,116
SOVEREIGN LENDING GROUP INCORPORATED 1 2.75% $4,828
STOCKTON MORTGAGE CORPORATION 1 3.13% $2,105
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.38% $5,906
A&D Mortgage LLC 1 5.38% $8,300
The Federal Savings Bank 1 3.25% $2,808
AMERICAN FINANCING CORPORATION 1 3.13% $2,180
The State Bank 1 2.88% $2,391
TOWNE MORTGAGE COMPANY 1 3.00% $2,480
ADVISORS CAPITAL, INC. 1 3.25% $3,063
U.S. Bank 1 3.38% $2,266
Dort Financial Credit Union 1 3.00% $2,167
DOW CHEMICAL EMPLOYEES' 1 3.75% $1,685
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.13% $4,409
Deere Employees Credit Union 1 3.25% $2,862
Discover Bank 1 4.25% $0
First Financial Bank 1 3.25% $6,822
First Savings Bank 1 2.50% $1,120
First State Bank 1 3.13% $1,403
FREEDOM MORTGAGE CORPORATION 1 3.13% $2,947
County National Bank 1 3.38% $2,627
GVC MORTGAGE, INC. 1 4.25% $2,233
AAC Credit Union 1 3.38% $2,403
Horizon Bank 1 3.00% $2,107
COMMUNITY FINANCIAL CREDIT UNION 1 3.25% $1,599
CITIZENS EQUITY FIRST 1 3.13% $2,498
J. VIRGIL, INC. 1 2.88% $7,013
KELLER MORTGAGE, LLC 1 3.38% $1,562
Citizens Bank 1 2.88% $4,027
LEADERONE FINANCIAL CORPORATION 1 4.38% $4,452
LENDERFI, INC. 1 2.88% $1,153
LOANPAL, LLC 1 2.88% $4,270
LOANSNAP, INC. 1 2.88% $501
Macatawa Bank 1 3.00% $2,683
Michigan Educational Credit Union 1 3.25% $2,899
MICHIGAN FIRST CREDIT UNION 1 3.38% $2,469
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 1 3.25% $3,018
MID AMERICA MORTGAGE, INC. 1 3.50% $4,132
VIBE CREDIT UNION 1 3.50% $1,610
MORIA DEVELOPMENT, INC. 1 3.25% $2,830
Capital Bank 1 3.13% $2,114
BROKER SOLUTIONS, INC. 1 3.50% $3,334
Nations Lending Corporation 1 2.88% $7,337
NAVY FEDERAL CREDIT UNION 1 3.00% $1,721
BlueOx Credit Union 1 2.75% $2,303

Big Rapids, MI's 118 lenders originated 1,658 loans during 2021. The total origination value was $261,650,000, with an average loan value of $157,811.

The top Big Rapids lender as defined by loan originations is QUICKEN LOANS, LLC, with 69 loans originated. Their average total fees are $4,335, which is $1,615 higher than the next largest lender, Isabella Bank.

The lowest fee Big Rapids lenders (with over 10 loans originated) are Independent Bank ($2,530), Mercantile Bank of Michigan ($2,616), Isabella Bank ($2,720), Fifth Third Bank ($2,795) and Neighborhood Loans, Inc. ($2,981).

The lowest rate Big Rapids lenders (with over 10 loans originated) are Isabella Bank (2.89%), West Michigan Credit Union (2.89%), JPMorgan Chase Bank (2.98%), UNITED WHOLESALE MORTGAGE, LLC (3.04%) and Independent Bank (3.10%).

Big Rapids, MI Lender 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 2020 Loan Value 2021 Loan Value % Change 2021 Market Share
QUICKEN LOANS, LLC $17,775,000 $25,540,000 43.7% 9.8%
Isabella Bank $38,120,000 $23,220,000 -39.1% 8.9%
LAKE MICHIGAN CREDIT UNION $8,640,000 $19,545,000 126.2% 7.5%
The Huntington National Bank $6,145,000 $14,345,000 133.4% 5.5%
Fifth Third Bank $8,405,000 $11,955,000 42.2% 4.6%
Neighborhood Loans, Inc. $10,910,000 $10,525,000 -3.5% 4.0%
Independent Bank $15,055,000 $9,220,000 -38.8% 3.5%
UNITED WHOLESALE MORTGAGE, LLC $5,445,000 $8,645,000 58.8% 3.3%
AMERIFIRST FINANCIAL CORPORATION $8,695,000 $8,360,000 -3.9% 3.2%
Mercantile Bank of Michigan $8,630,000 $8,045,000 -6.8% 3.1%
TOP FLITE FINANCIAL, INC. $7,550,000 $6,115,000 -19.0% 2.3%
West Michigan Credit Union $5,110,000 $4,825,000 -5.6% 1.8%
COMMUNITY FIRST $1,620,000 $4,235,000 161.4% 1.6%
Mr. Cooper ( Nationstar Mortgage ) $1,870,000 $4,170,000 123.0% 1.6%
Mortgage Research Center, LLC $3,210,000 $3,640,000 13.4% 1.4%
GreenStone Farm Credit Services, FLCA $1,380,000 $3,320,000 140.6% 1.3%
MORTGAGE 1 INCORPORATED $2,050,000 $3,095,000 51.0% 1.2%
JPMorgan Chase Bank $1,840,000 $2,930,000 59.2% 1.1%
TCF National Bank $7,430,000 $2,720,000 -63.4% 1.0%
UNION HOME MORTGAGE CORP. $1,770,000 $2,450,000 38.4% 0.9%
CONSUMERS $885,000 $2,400,000 171.2% 0.9%
CHURCHILL MORTGAGE CORPORATION $915,000 $2,330,000 154.6% 0.9%
AMERISAVE MORTGAGE CORPORATION $475,000 $2,265,000 376.8% 0.9%
NEWREZ LLC $415,000 $2,225,000 436.1% 0.9%
PRIMELENDING, A PLAINSCAPITAL COMPANY $2,090,000 $2,215,000 6.0% 0.8%
Wells Fargo Bank $550,000 $2,120,000 285.5% 0.8%
Flagstar Bank, FSB $1,115,000 $2,035,000 82.5% 0.8%
CALIBER HOME LOANS, INC. $1,390,000 $1,980,000 42.4% 0.8%
FREEDOM MORTGAGE CORPORATION $3,500,000 $1,860,000 -46.9% 0.7%
LOANDEPOT.COM, LLC $1,735,000 $1,795,000 3.5% 0.7%
MORTGAGE CENTER L.C $1,105,000 $1,790,000 62.0% 0.7%
BETTER MORTGAGE CORPORATION $1,780,000 n/a 0.7%
FINANCE OF AMERICA MORTGAGE LLC $1,575,000 $1,770,000 12.4% 0.7%
INLANTA MORTGAGE, INC. $670,000 $1,640,000 144.8% 0.6%
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $1,775,000 $1,550,000 -12.7% 0.6%
NAVY FEDERAL CREDIT UNION $625,000 $1,480,000 136.8% 0.6%
LAKEVIEW LOAN SERVICING, LLC $195,000 $1,335,000 584.6% 0.5%
SUCCESS MORTGAGE PARTNERS, INC. $1,140,000 $1,235,000 8.3% 0.5%
PENNYMAC LOAN SERVICES, LLC $1,165,000 $1,185,000 1.7% 0.5%
GUARANTEED RATE, INC. $280,000 $1,155,000 312.5% 0.4%
BM Real Estate Services, Inc. $240,000 $1,120,000 366.7% 0.4%
VILLAGE CAPITAL & INVESTMENT LLC $2,035,000 $1,110,000 -45.5% 0.4%
TOWNE MORTGAGE COMPANY $1,320,000 $1,105,000 -16.3% 0.4%
ChoiceOne Bank $2,295,000 $1,045,000 -54.5% 0.4%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $1,290,000 $985,000 -23.6% 0.4%
Citizens Bank $375,000 $975,000 160.0% 0.4%
BROKER SOLUTIONS, INC. $245,000 $970,000 295.9% 0.4%
PNC Bank $890,000 $970,000 9.0% 0.4%
MMS MORTGAGE SERVICES, LTD. $465,000 $945,000 103.2% 0.4%
J. VIRGIL, INC. $790,000 $895,000 13.3% 0.3%
NORTHERN MORTGAGE SERVICES, LLC $1,075,000 $870,000 -19.1% 0.3%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $1,050,000 $860,000 -18.1% 0.3%
HOME POINT FINANCIAL CORPORATION $270,000 $855,000 216.7% 0.3%
The Dart Bank $1,235,000 $855,000 -30.8% 0.3%
DFCU FINANCIAL $320,000 $820,000 156.3% 0.3%
Northpointe Bank $910,000 $805,000 -11.5% 0.3%
United Bank of Michigan $125,000 $735,000 488.0% 0.3%
MEMBERS FIRST Credit Union $125,000 $715,000 472.0% 0.3%
VAN DYK MORTGAGE CORPORATION $1,230,000 $710,000 -42.3% 0.3%
PREMIA MORTGAGE, LLC $700,000 n/a 0.3%
MICHIGAN MUTUAL, INC. $535,000 $685,000 28.0% 0.3%
AMERICAN FINANCIAL RESOURCES, INC. $1,250,000 $680,000 -45.6% 0.3%
RBC Bank, (Georgia) $660,000 n/a 0.3%
MUTUAL OF OMAHA MORTGAGE, INC. $465,000 $620,000 33.3% 0.2%
Bank of America $1,280,000 $615,000 -52.0% 0.2%
Dearborn Federal Savings Bank $615,000 n/a 0.2%
West Michigan Community Bank $210,000 $615,000 192.9% 0.2%
Hometown Lenders, Inc. $605,000 n/a 0.2%
BLG HOLDINGS, INC. $855,000 $570,000 -33.3% 0.2%
Horizon Bank $570,000 n/a 0.2%
North American Savings Bank, F.S.B. $570,000 n/a 0.2%
ARBOR FINANCIAL CREDIT UNION $715,000 $550,000 -23.1% 0.2%
ROYAL UNITED MORTGAGE LLC $485,000 $545,000 12.4% 0.2%
MID AMERICA MORTGAGE, INC. $195,000 $515,000 164.1% 0.2%
HOMESIDE FINANCIAL, LLC $505,000 n/a 0.2%
Adventure Credit Union $1,030,000 $490,000 -52.4% 0.2%
NEW DAY FINANCIAL, LLC $1,130,000 $475,000 -58.0% 0.2%
U.S. Bank $350,000 $470,000 34.3% 0.2%
ZILLOW HOME LOANS, LLC $440,000 n/a 0.2%
AmeriHome Mortgage Company, LLC $415,000 n/a 0.2%
Carrington Mortgage Services, LLC $440,000 $415,000 -5.7% 0.2%
GVC MORTGAGE, INC. $695,000 $415,000 -40.3% 0.2%
Highpoint Community Bank $415,000 n/a 0.2%
MICHIGAN SCHOOLS AND GOVERNMENT $140,000 $415,000 196.4% 0.2%
LOANSNAP, INC. $405,000 n/a 0.2%
ACADEMY MORTGAGE CORPORATION $1,975,000 $395,000 -80.0% 0.2%
MICHIGAN FIRST CREDIT UNION $35,000 $395,000 1,028.6% 0.2%
Community West Credit Union $200,000 $390,000 95.0% 0.1%
STOCKTON MORTGAGE CORPORATION $390,000 n/a 0.1%
PHH Mortgage Corporation $380,000 n/a 0.1%
SOFI LENDING CORP. $380,000 n/a 0.1%
Ally Bank $370,000 n/a 0.1%
CITIZENS EQUITY FIRST $365,000 n/a 0.1%
GERBER FEDERAL CREDIT UNION $35,000 $360,000 928.6% 0.1%
Old National Bank $760,000 $355,000 -53.3% 0.1%
STAUNTON FINANCIAL, INC. $65,000 $340,000 423.1% 0.1%
USAA Federal Savings Bank $800,000 $340,000 -57.5% 0.1%
MEMBER FIRST MORTGAGE, LLC $335,000 n/a 0.1%
AAC Credit Union $290,000 $330,000 13.8% 0.1%
RESIDENTIAL BANCORP. $325,000 n/a 0.1%
CHEVRON $315,000 n/a 0.1%
CREDIT UNION ONE $200,000 $315,000 57.5% 0.1%
OAK MORTGAGE, LLC $315,000 n/a 0.1%
Macatawa Bank $175,000 $310,000 77.1% 0.1%
SOVEREIGN LENDING GROUP INCORPORATED $145,000 $295,000 103.4% 0.1%
AMERICAN PACIFIC MORTGAGE CORPORATION $275,000 n/a 0.1%
Paramount Residential Mortgage Group, Inc. $105,000 $270,000 157.1% 0.1%
Deere Employees Credit Union $265,000 n/a 0.1%
First Financial Bank $265,000 n/a 0.1%
Frankenmuth Credit Union $260,000 n/a 0.1%
GENISYS $810,000 $260,000 -67.9% 0.1%
BlueOx Credit Union $255,000 n/a 0.1%
LENDERFI, INC. $255,000 n/a 0.1%
AMERICAN ADVISORS GROUP $185,000 $250,000 35.1% 0.1%
First Guaranty Mortgage Corporation $105,000 $245,000 133.3% 0.1%
21ST MORTGAGE CORPORATION $120,000 $240,000 100.0% 0.1%
ADVISORS CAPITAL, INC. $235,000 n/a 0.1%
County National Bank $95,000 $235,000 147.4% 0.1%
Discover Bank $55,000 $215,000 290.9% 0.1%
Eaton Community Bank $215,000 n/a 0.1%
CMG MORTGAGE, INC. $205,000 n/a 0.1%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $205,000 $205,000 0.0% 0.1%
A&D Mortgage LLC $195,000 n/a 0.1%
First State Bank $195,000 n/a 0.1%
Nations Lending Corporation $195,000 n/a 0.1%
NATIONS RELIABLE LENDING, LLC $195,000 n/a 0.1%
LIMA ONE CAPITAL, LLC $190,000 n/a 0.1%
CLEARPATH LENDING $440,000 $185,000 -58.0% 0.1%
The Shelby State Bank $185,000 n/a 0.1%
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $925,000 $180,000 -80.5% 0.1%
MORIA DEVELOPMENT, INC. $85,000 $175,000 105.9% 0.1%
AMERICAN FINANCING CORPORATION $155,000 $165,000 6.5% 0.1%
Christensen Financial, Inc. $165,000 $165,000 0.0% 0.1%
CROSSCOUNTRY MORTGAGE, LLC $115,000 $165,000 43.5% 0.1%
LAFCU $145,000 $165,000 13.8% 0.1%
Platinum Home Mortgage Corporation $155,000 $165,000 6.5% 0.1%
COMPASS MORTGAGE, INC. $145,000 n/a 0.1%
MICHIGAN ONE COMMUNITY Credit Union $110,000 $145,000 31.8% 0.1%
TEAM ONE CREDIT UNION $145,000 n/a 0.1%
The Federal Savings Bank $205,000 $145,000 -29.3% 0.1%
COMMUNITY FINANCIAL CREDIT UNION $215,000 $140,000 -34.9% 0.1%
Capital Bank $135,000 n/a 0.1%
ELGA CREDIT UNION $135,000 n/a 0.1%
Stifel Bank and Trust $155,000 $135,000 -12.9% 0.1%
Comerica Bank $85,000 $125,000 47.1% 0.0%
Michigan Educational Credit Union $125,000 n/a 0.0%
PLAZA HOME MORTGAGE, INC. $605,000 $125,000 -79.3% 0.0%
Truist Bank $125,000 n/a 0.0%
Dort Financial Credit Union $200,000 $115,000 -42.5% 0.0%
KENT COUNTY CREDIT UNION $560,000 $115,000 -79.5% 0.0%
DOW CHEMICAL EMPLOYEES' $565,000 $105,000 -81.4% 0.0%
Gateway First Bank $105,000 n/a 0.0%
KELLER MORTGAGE, LLC $375,000 $105,000 -72.0% 0.0%
ROSS MORTGAGE CORPORATION $660,000 $105,000 -84.1% 0.0%
ENVOY MORTGAGE, LTD $95,000 n/a 0.0%
First Savings Bank $225,000 $95,000 -57.8% 0.0%
LONGBRIDGE FINANCIAL, LLC $95,000 n/a 0.0%
Preston Home Loans Inc $95,000 n/a 0.0%
Grand River Bank $435,000 $90,000 -79.3% 0.0%
LEADERONE FINANCIAL CORPORATION $85,000 n/a 0.0%
LENDINGHOME FUNDING CORPORATION $85,000 n/a 0.0%
LOANPAL, LLC $85,000 n/a 0.0%
The State Bank $145,000 $85,000 -41.4% 0.0%
Commercial Bank $715,000 $75,000 -89.5% 0.0%
KeyBank $70,000 n/a 0.0%
RUOFF MORTGAGE COMPANY, INC. $425,000 $65,000 -84.7% 0.0%
VIBE CREDIT UNION $115,000 $55,000 -52.2% 0.0%
Barrington Bank & Trust Company, N.A. $715,000 $45,000 -93.7% 0.0%
Citibank $55,000 $45,000 -18.2% 0.0%
Figure Lending LLC $45,000 n/a 0.0%
Honor Credit Union $45,000 n/a 0.0%
ADVANTAGE ONE Credit Union $55,000 $35,000 -36.4% 0.0%
BMO Harris Bank $35,000 n/a 0.0%
INOVA FEDERAL CREDIT UNION $15,000 n/a 0.0%

Big Rapids's top lender by overall market share is QUICKEN LOANS, LLC, with 9.8% market share. In second place, with 8.9%, is Isabella Bank, having originated $23,220,000 in loans. In third place, with 7.5%, is LAKE MICHIGAN CREDIT UNION, having originated $19,545,000 in loans. In third place, with 5.5%, is The Huntington National Bank, having originated $14,345,000 in loans. In third place, with 4.6%, is Fifth Third Bank, having originated $11,955,000 in loans.


Big Rapids, MI Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 636 $114,800,000 $180,503
Refi 591 $85,915,000 $145,372
Cash Out Refi 310 $51,400,000 $165,806
Home Improvement 63 $5,045,000 $80,079
Other 58 $4,490,000 $77,414

Big Rapids's most frequently cited loan purpose was Home Purchase, with 636 originations. The 2nd most popular reason was Refi, with 591 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
2.5-3% 623 $101,875,000 $163,523
3-4% 615 $104,315,000 $169,618
<2.5% 261 $37,335,000 $143,046
4-5% 82 $9,740,000 $118,780
5-6% 16 $1,040,000 $65,000
7-8% 7 $345,000 $49,286
Over 8% 4 $160,000 $40,000
6-7% 3 $125,000 $41,667

During 2021, Big Rapids's most frequently originated rate bucket was 2.5-3%, with 623 originations.

Loan Sizing (Big Rapids, MI MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 811 $115,935,000 $142,953
$100,000 or less 457 $30,645,000 $67,057
$200k-400k 352 $93,410,000 $265,369
$400k-600k 34 $15,730,000 $462,647
$600k-1000k 3 $2,065,000 $688,333
$Over $1MM 1 $3,865,000 $3,865,000

Big Rapids's loan sizing saw the bucket of loans from $100k-200k with 811 originations, totaling $115,935,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 583 $107,505,000 $184,400
60-80% 519 $91,105,000 $175,539
40-60% 278 $35,330,000 $127,086
20-40% 133 $11,105,000 $83,496
Under 20% 52 $2,030,000 $39,038
Over 100% 10 $2,750,000 $275,000

Big Rapids's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 583 originations, totaling $107,505,000 in origination value.


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Big Rapids (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $145,900 (-4.0%) $183,386 (-12.5%) 0.00 236
2018-02-01 $158,200 (-1.1%) $192,974 (-12.1%) 0.00 221
2018-03-01 $169,900 (6.3%) $199,411 (-8.4%) 0.00 230
2018-04-01 $169,000 (5.7%) $195,633 (-9.1%) 0.00 238
2018-05-01 $167,400 (4.7%) $191,867 (-6.5%) 0.00 262
2018-06-01 $165,000 (3.2%) $191,005 (-4.8%) 0.00 267
2018-07-01 $165,000 (0.0%) $191,501 (-5.1%) 0.00 273
2018-08-01 $169,900 (4.6%) $191,970 (-3.1%) 0.00 278
2018-09-01 $161,900 (1.8%) $187,970 (-3.0%) 0.00 282
2018-10-01 $159,900 (3.2%) $184,659 (-3.9%) 0.00 265
2018-11-01 $158,200 (5.5%) $179,184 (-5.1%) 0.00 234
2018-12-01 $157,400 (-1.0%) $176,123 (-8.7%) 0.00 225
2019-01-01 $161,450 (10.7%) $181,096 (-1.3%) 0.00 201
2019-02-01 $165,500 (4.6%) $184,014 (-4.6%) 0.00 187
2019-03-01 $166,529 (-2.0%) $184,616 (-7.4%) 0.00 185
2019-04-01 $169,900 (0.5%) $194,829 (-0.4%) 0.00 207
2019-05-01 $185,000 (10.5%) $211,256 (10.1%) 0.00 226
2019-06-01 $185,000 (12.1%) $214,630 (12.4%) 0.00 256
2019-07-01 $182,400 (10.6%) $214,478 (12.0%) 0.00 279
2019-08-01 $179,900 (5.9%) $212,468 (10.7%) 0.00 284
2019-09-01 $179,900 (11.1%) $212,208 (12.9%) 0.00 277
2019-10-01 $186,750 (16.8%) $220,391 (19.4%) 0.00 259
2019-11-01 $189,000 (19.5%) $224,431 (25.3%) 0.00 214
2019-12-01 $188,000 (19.4%) $229,836 (30.5%) 0.00 198
2020-01-01 $187,000 (15.8%) $234,440 (29.5%) 0.00 189
2020-02-01 $195,000 (17.8%) $243,907 (32.6%) 0.00 175
2020-03-01 $199,900 (20.0%) $251,775 (36.4%) 0.00 169
2020-04-01 $198,500 (16.8%) $252,481 (29.6%) 0.00 169
2020-05-01 $220,000 (18.9%) $263,740 (24.8%) 0.00 164
2020-06-01 $224,900 (21.6%) $255,448 (19.0%) 0.00 156
2020-07-01 $219,950 (20.6%) $247,804 (15.5%) 0.00 136
2020-08-01 $229,000 (27.3%) $255,249 (20.1%) 0.00 118
2020-09-01 $191,900 (6.7%) $237,897 (12.1%) 0.00 118
2020-10-01 $179,500 (-3.9%) $239,208 (8.5%) 0.00 101
2020-11-01 $187,900 (-0.6%) $235,956 (5.1%) 0.00 95
2020-12-01 $169,900 (-9.6%) $232,973 (1.4%) 0.00 74
2021-01-01 $169,900 (-9.1%) $236,377 (0.8%) 0.00 56
2021-02-01 $210,000 (7.7%) $275,132 (12.8%) 0.00 56
2021-03-01 $232,400 (16.3%) $278,805 (10.7%) 0.00 56
2021-04-01 $234,950 (18.4%) $276,591 (9.6%) 0.00 72
2021-05-01 $195,000 (-11.4%) $241,441 (-8.5%) 0.00 81
2021-06-01 $197,000 (-12.4%) $251,118 (-1.7%) 0.00 90
2021-07-01 $229,900 (4.5%) $264,825 (6.9%) 0.00 106
2021-08-01 $215,950 (-5.7%) $264,703 (3.7%) 0.00 96
2021-09-01 $198,900 (3.7%) $258,379 (8.6%) 0.00 86
2021-10-01 $225,000 (25.4%) $261,832 (9.5%) 0.00 92
2021-11-01 $216,500 (15.2%) $258,585 (9.6%) 0.00 90
2021-12-01 $187,200 (10.2%) $243,368 (4.5%) 0.00 81
2022-01-01 $195,500 (15.1%) $230,466 (-2.5%) 0.00 76
2022-02-01 $265,000 (26.2%) $258,149 (-6.2%) 0.00 67
2022-03-01 $262,500 (13.0%) $265,680 (-4.7%) 0.00 79
2022-04-01 $268,000 (14.1%) $268,435 (-3.0%) 0.00 85
2022-05-01 $254,950 (30.7%) $278,193 (15.2%) 0.00 92
2022-06-01 $269,000 (36.6%) $290,186 (15.6%) 0.00 110
Big Rapids's median listing price for 2022-06-01 was $269,000, a difference of $72,000 (36.6%) versus the prior year and $14,050 versus the prior month.

Big Rapids's median listing price comes in at 0% of the national average.

Big Rapids's average listing price for 2022-06-01 was $290,186, a difference of $39,068 (15.6%) versus the prior year and $11,993 versus the prior month.

For the 2022-06-01 period, Big Rapids had 110 MLS listings, a difference of 18 listings (20%) versus the prior month and 20 listings (22%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Big Rapids (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,705 sqft
2018-02-01 0 days 1,765 sqft
2018-03-01 0 days 1,765 sqft
2018-04-01 0 days 1,765 sqft
2018-05-01 0 days 1,747 sqft
2018-06-01 0 days 1,754 sqft
2018-07-01 0 days 1,750 sqft
2018-08-01 0 days 1,764 sqft
2018-09-01 0 days 1,718 sqft
2018-10-01 0 days 1,728 sqft
2018-11-01 0 days 1,660 sqft
2018-12-01 0 days 1,650 sqft
2019-01-01 0 days 1,702 sqft
2019-02-01 0 days 1,709 sqft
2019-03-01 0 days 1,759 sqft
2019-04-01 0 days 1,839 sqft
2019-05-01 0 days 1,894 sqft
2019-06-01 0 days 1,873 sqft
2019-07-01 0 days 1,842 sqft
2019-08-01 0 days 1,853 sqft
2019-09-01 0 days 1,878 sqft
2019-10-01 0 days 1,889 sqft
2019-11-01 0 days 1,896 sqft
2019-12-01 0 days 1,937 sqft
2020-01-01 0 days 1,955 sqft
2020-02-01 0 days 1,988 sqft
2020-03-01 0 days 1,964 sqft
2020-04-01 0 days 1,954 sqft
2020-05-01 0 days 1,988 sqft
2020-06-01 0 days 1,950 sqft
2020-07-01 0 days 1,865 sqft
2020-08-01 0 days 1,950 sqft
2020-09-01 0 days 1,819 sqft
2020-10-01 0 days 1,840 sqft
2020-11-01 0 days 1,918 sqft
2020-12-01 0 days 1,837 sqft
2021-01-01 0 days 1,840 sqft
2021-02-01 0 days 2,053 sqft
2021-03-01 0 days 2,058 sqft
2021-04-01 0 days 1,959 sqft
2021-05-01 0 days 1,850 sqft
2021-06-01 0 days 1,783 sqft
2021-07-01 0 days 1,762 sqft
2021-08-01 0 days 1,737 sqft
2021-09-01 0 days 1,677 sqft
2021-10-01 0 days 1,700 sqft
2021-11-01 0 days 1,671 sqft
2021-12-01 0 days 1,637 sqft
2022-01-01 0 days 1,664 sqft
2022-02-01 0 days 1,686 sqft
2022-03-01 0 days 1,588 sqft
2022-04-01 0 days 1,673 sqft
2022-05-01 0 days 1,700 sqft
2022-06-01 0 days 1,800 sqft
Big Rapids's median listing age (time on market) for 2022-06-01 was 0 days.

Big Rapids's median square footage for active listings during the 2022-06-01 period was 1,800 sqft. One year prior, the average listing was 1,783 sqft.