Cadillac Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Cadillac averaged
6.83%
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
6.86% and
one month ago for the week of 2025-05-15, the
average rate was 7.03%.
Cadillac's average rate one year ago was 7.37%.
For refis of the same type during the week of 2025-06-18, the average rate
was 7.41%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
Cadillac 30 Year Fixed Rate | 2025-06-18 | 6.83% |
Cadillac 30 Year Fixed Rate Refi | 2025-06-18 | 7.41% |
Cadillac 15 Year Fixed Rate | 2025-06-18 | 5.76% |
Cadillac 15 Year Fixed Rate Refi | 2025-06-18 | 6.06% |
Cadillac 30 Year FHA | 2025-06-18 | 0.4% |
Cadillac 30 Year FHA Refi | 2025-06-18 | 0.2% |
Cadillac 30 Year USDA | 2025-06-18 | -0.2% |
Cadillac 30 Year USDA Refi | 2025-06-18 | 0% |
Cadillac 30 Year VA | 2025-06-18 | -0.1% |
Cadillac 30 Year VA Refi | 2025-06-18 | 0.1% |
Cadillac 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 Cadillac, 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.).
Cadillac Average Closing Costs & Other Stats
Cadillac, MI's 65 lenders originated 896
loans during 2024. The total origination value was $150,180,000, with an average loan value of
$167,612.
Cadillac's average closing costs are $4,435.
The top Cadillac lender as defined by loan originations is Horizon Bank, with
33 loans originated. Their average total fees are
$3,405, which is $2,541
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Cadillac lenders (with over 10 loans originated) are
Horizon Bank ($3,405), LAKE MICHIGAN CREDIT UNION ($3,538), Mercantile Bank of Michigan ($4,159), Fifth Third Bank ($4,175) and Independent Bank ($4,233).
The lowest rate Cadillac lenders (with over 10 loans originated) are
Independent Bank (6.64%), QUICKEN LOANS, LLC (6.75%), Mercantile Bank of Michigan (6.80%), Fifth Third Bank (6.87%) and CALCON MUTUAL MORTGAGE LLC (6.90%).
Cadillac, 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 |
---|---|---|---|---|
Horizon Bank | $21,670,000 | $20,560,000 | -5.1% | 13.7% |
QUICKEN LOANS, LLC | $12,690,000 | $11,990,000 | -5.5% | 8.0% |
UNITED WHOLESALE MORTGAGE, LLC | $9,525,000 | $8,725,000 | -8.4% | 5.8% |
The Huntington National Bank | $9,370,000 | $8,450,000 | -9.8% | 5.6% |
Mercantile Bank of Michigan | $3,810,000 | $8,160,000 | 114.2% | 5.4% |
Fifth Third Bank | $5,760,000 | $7,515,000 | 30.5% | 5.0% |
Mortgage Research Center, LLC | $2,900,000 | $5,665,000 | 95.3% | 3.8% |
CALCON MUTUAL MORTGAGE LLC | $5,300,000 | n/a | 3.5% | |
LAKE MICHIGAN CREDIT UNION | $4,330,000 | $4,835,000 | 11.7% | 3.2% |
Independent Bank | $4,670,000 | $4,785,000 | 2.5% | 3.2% |
GUILD MORTGAGE COMPANY | $4,400,000 | $4,770,000 | 8.4% | 3.2% |
J. VIRGIL, INC. | $4,105,000 | $4,605,000 | 12.2% | 3.1% |
MORTGAGE 1 INCORPORATED | $2,900,000 | $3,550,000 | 22.4% | 2.4% |
GreenStone Farm Credit Services, FLCA | $3,350,000 | $2,545,000 | -24.0% | 1.7% |
NEWREZ LLC | $2,215,000 | $2,220,000 | 0.2% | 1.5% |
PENNYMAC LOAN SERVICES, LLC | $415,000 | $2,205,000 | 431.3% | 1.5% |
USAA Federal Savings Bank | $1,710,000 | n/a | 1.1% | |
CREDIT UNION ONE | $510,000 | $1,285,000 | 152.0% | 0.9% |
NAVY FEDERAL CREDIT UNION | $1,025,000 | $1,180,000 | 15.1% | 0.8% |
LOANDEPOT.COM, LLC | $355,000 | $1,100,000 | 209.9% | 0.7% |
Preston Home Loans Inc | $295,000 | $1,090,000 | 269.5% | 0.7% |
STAUNTON FINANCIAL, INC. | $965,000 | $1,020,000 | 5.7% | 0.7% |
Nicolet National Bank | $1,075,000 | $970,000 | -9.8% | 0.6% |
BMO Harris Bank | $965,000 | n/a | 0.6% | |
Flagstar Bank, FSB | $1,160,000 | $940,000 | -19.0% | 0.6% |
FIRST COMMUNITY MORTGAGE, INC. | $2,575,000 | $935,000 | -63.7% | 0.6% |
UNION HOME MORTGAGE CORP. | $970,000 | $850,000 | -12.4% | 0.6% |
VAN DYK MORTGAGE CORPORATION | $1,035,000 | $755,000 | -27.1% | 0.5% |
U.S. Bank | $745,000 | n/a | 0.5% | |
GENISYS | $175,000 | $685,000 | 291.4% | 0.5% |
FREEDOM MORTGAGE CORPORATION | $165,000 | $665,000 | 303.0% | 0.4% |
Northpointe Bank | $275,000 | $655,000 | 138.2% | 0.4% |
BROKER SOLUTIONS, INC. | $670,000 | $650,000 | -3.0% | 0.4% |
HOMEXPRESS MORTGAGE CORP. | $645,000 | n/a | 0.4% | |
TOP FLITE FINANCIAL, INC. | $575,000 | n/a | 0.4% | |
COMMUNITY FINANCIAL CREDIT UNION | $625,000 | $570,000 | -8.8% | 0.4% |
NEW DAY FINANCIAL, LLC | $665,000 | $570,000 | -14.3% | 0.4% |
Mr. Cooper ( Nationstar Mortgage ) | $375,000 | $550,000 | 46.7% | 0.4% |
Isabella Bank | $1,125,000 | $535,000 | -52.4% | 0.4% |
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $1,570,000 | $525,000 | -66.6% | 0.3% |
GREENSTATE CREDIT UNION | $500,000 | n/a | 0.3% | |
AMERISAVE MORTGAGE CORPORATION | $215,000 | $490,000 | 127.9% | 0.3% |
Union Bank | $490,000 | n/a | 0.3% | |
Northstar Bank | $475,000 | n/a | 0.3% | |
CHURCHILL MORTGAGE CORPORATION | $955,000 | $470,000 | -50.8% | 0.3% |
PNC Bank | $320,000 | $460,000 | 43.8% | 0.3% |
Carrington Mortgage Services, LLC | $250,000 | $440,000 | 76.0% | 0.3% |
First National Bank of America | $425,000 | n/a | 0.3% | |
ChoiceOne Bank | $415,000 | n/a | 0.3% | |
HOMESIDE FINANCIAL, LLC | $410,000 | n/a | 0.3% | |
LAKEVIEW LOAN SERVICING, LLC | $155,000 | $390,000 | 151.6% | 0.3% |
KeyBank | $355,000 | $385,000 | 8.5% | 0.3% |
JPMorgan Chase Bank | $870,000 | $380,000 | -56.3% | 0.3% |
Equity Prime Mortgage LLC | $370,000 | n/a | 0.2% | |
MORTGAGE CENTER L.C | $615,000 | $370,000 | -39.8% | 0.2% |
Dort Financial Credit Union | $105,000 | $350,000 | 233.3% | 0.2% |
RUOFF MORTGAGE COMPANY, INC. | $345,000 | n/a | 0.2% | |
Wildfire Credit Union | $205,000 | $340,000 | 65.9% | 0.2% |
NATIONWIDE MORTGAGE BANKERS, INC. | $335,000 | n/a | 0.2% | |
CMG MORTGAGE, INC. | $325,000 | n/a | 0.2% | |
Adventure Credit Union | $75,000 | $320,000 | 326.7% | 0.2% |
Honor Credit Union | $225,000 | $320,000 | 42.2% | 0.2% |
VILLAGE CAPITAL MORTGAGE | $320,000 | n/a | 0.2% | |
Warsaw Federal Savings and Loan Association | $315,000 | n/a | 0.2% | |
The Dart Bank | $775,000 | $310,000 | -60.0% | 0.2% |
Eaton Community Bank | $305,000 | n/a | 0.2% | |
Union Savings Bank | $305,000 | n/a | 0.2% | |
Ixonia Bank | $295,000 | n/a | 0.2% | |
MICHIGAN ONE COMMUNITY Credit Union | $285,000 | n/a | 0.2% | |
Discover Bank | $325,000 | $280,000 | -13.8% | 0.2% |
ARK-LA-TEX FINANCIAL SERVICES, LLC. | $510,000 | $255,000 | -50.0% | 0.2% |
CARDINAL FINANCIAL | $2,295,000 | $250,000 | -89.1% | 0.2% |
Magnolia Bank | $245,000 | n/a | 0.2% | |
MEMBERFOCUS COMMUNITY | $245,000 | n/a | 0.2% | |
NORTHERN MORTGAGE SERVICES, LLC | $285,000 | $245,000 | -14.0% | 0.2% |
Meijer Credit Union | $240,000 | n/a | 0.2% | |
County National Bank | $235,000 | n/a | 0.2% | |
MUTUAL OF OMAHA MORTGAGE, INC. | $480,000 | $230,000 | -52.1% | 0.2% |
21ST MORTGAGE CORPORATION | $390,000 | $220,000 | -43.6% | 0.1% |
West Michigan Credit Union | $460,000 | $220,000 | -52.2% | 0.1% |
First National Bank of Michigan | $215,000 | n/a | 0.1% | |
TRIAD FINANCIAL SERVICES, INC. | $410,000 | $215,000 | -47.6% | 0.1% |
Bank of Colorado | $205,000 | n/a | 0.1% | |
TOWNE MORTGAGE COMPANY | $205,000 | n/a | 0.1% | |
TEAM ONE CREDIT UNION | $550,000 | $200,000 | -63.6% | 0.1% |
MOVEMENT MORTGAGE, LLC | $195,000 | n/a | 0.1% | |
UNIVERSITY OF MICHIGAN CREDIT UNION | $175,000 | n/a | 0.1% | |
FirstBank | $165,000 | n/a | 0.1% | |
Plains Commerce Bank | $165,000 | n/a | 0.1% | |
First Southern National Bank | $155,000 | n/a | 0.1% | |
United Bank of Michigan | $155,000 | n/a | 0.1% | |
Ally Bank | $145,000 | n/a | 0.1% | |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $145,000 | n/a | 0.1% | |
LONGBRIDGE FINANCIAL, LLC | $145,000 | n/a | 0.1% | |
PHH Mortgage Corporation | $75,000 | $135,000 | 80.0% | 0.1% |
VIBE CREDIT UNION | $120,000 | n/a | 0.1% | |
AMERICAN PACIFIC MORTGAGE CORPORATION | $135,000 | $115,000 | -14.8% | 0.1% |
CREDIT HUMAN FEDERAL CREDIT UNION | $115,000 | n/a | 0.1% | |
SUCCESS MORTGAGE PARTNERS, INC. | $285,000 | $115,000 | -59.6% | 0.1% |
CANOPY MORTGAGE, LLC | $105,000 | n/a | 0.1% | |
Coastal Community Bank | $135,000 | $105,000 | -22.2% | 0.1% |
CONSTRUCTIVE LOANS, LLC | $105,000 | n/a | 0.1% | |
DFCU FINANCIAL | $80,000 | $105,000 | 31.3% | 0.1% |
RELIANCE FIRST CAPITAL, LLC | $155,000 | $105,000 | -32.3% | 0.1% |
The Loan Store, Inc. | $245,000 | $105,000 | -57.1% | 0.1% |
FINANCIAL PLUS CREDIT UNION | $95,000 | n/a | 0.1% | |
GUARANTEED RATE, INC. | $85,000 | n/a | 0.1% | |
MARSHALL COMMUNITY CREDIT UNION | $85,000 | n/a | 0.1% | |
ADVANTAGE ONE Credit Union | $75,000 | n/a | 0.0% | |
CONSUMERS | $260,000 | $75,000 | -71.2% | 0.0% |
American Mortgage & Equity Consultants, Inc. | $65,000 | n/a | 0.0% | |
CoVantage Credit Union | $65,000 | n/a | 0.0% | |
Frankenmuth Credit Union | $65,000 | n/a | 0.0% | |
GREENWOOD | $65,000 | n/a | 0.0% | |
RESIDENTIAL BANCORP | $55,000 | n/a | 0.0% | |
HOMEBRIDGE FINANCIAL SERVICES, INC. | $45,000 | n/a | 0.0% | |
SPRING EQ, LLC | $45,000 | n/a | 0.0% | |
ADVIA | $35,000 | n/a | 0.0% | |
MEMBERS FIRST Credit Union | $35,000 | n/a | 0.0% |
Cadillac's top lender by overall market share is Horizon Bank, with 13.7% market share. In second place, with 8.0%, is QUICKEN LOANS, LLC, having originated $11,990,000 in loans. In third place, with 5.8%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $8,725,000 in loans. In fourth place, with 5.6%, is The Huntington National Bank, having originated $8,450,000 in loans. In fifth place, with 5.4%, is Mercantile Bank of Michigan, having originated $8,160,000 in loans.
Cadillac, MI Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 438 | $94,970,000 | $216,826 |
Cash Out Refi | 140 | $20,630,000 | $147,357 |
Home Improvement | 122 | $10,940,000 | $89,672 |
Other | 98 | $8,570,000 | $87,449 |
Refi | 98 | $15,070,000 | $153,776 |
Cadillac's most frequently cited loan purpose was Home Purchase, with 438 originations. The 2nd most popular reason was Cash Out Refi, with 140 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 353 | $70,775,000 | $200,496 |
Over 8% | 231 | $19,285,000 | $83,485 |
7-8% | 204 | $39,430,000 | $193,284 |
5-6% | 73 | $15,185,000 | $208,014 |
<2.5% | 6 | $50,000 | $8,333 |
4-5% | 5 | $855,000 | $171,000 |
2.5-3% | 1 | $225,000 | $225,000 |
During 2024, Cadillac's most frequently originated rate bucket was 6-7%, with 353 originations.
Loan Sizing (Cadillac, MI MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 324 | $48,670,000 | $150,216 |
$100,000 or less | 295 | $16,885,000 | $57,237 |
$200k-400k | 239 | $63,345,000 | $265,042 |
$400k-600k | 29 | $13,905,000 | $479,483 |
$600k-1000k | 8 | $6,340,000 | $792,500 |
$Over $1MM | 1 | $1,035,000 | $1,035,000 |
Cadillac's loan sizing saw the bucket of loans from $100k-200k with 324 originations, totaling $48,670,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 312 | $71,070,000 | $227,788 |
60-80% | 183 | $38,015,000 | $207,732 |
20-40% | 157 | $13,815,000 | $87,994 |
Under 20% | 107 | $5,035,000 | $47,056 |
40-60% | 95 | $13,865,000 | $145,947 |
Over 100% | 9 | $2,655,000 | $295,000 |
Cadillac's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 312 originations, totaling $71,070,000 in origination value.