Coldwater Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Coldwater averaged 6.36% for the week of 2024-10-10, compared to the national average of 6.32% for the same period.

The average rate for the prior week (2024-10-03) was 6.06% and one month ago for the week of 2024-09-05, the average rate was 6.39%.

Coldwater's average rate one year ago was 7.43%.

For refis of the same type during the week of 2024-10-10, the average rate was 6.22%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-10-10 6.32%
Coldwater 30 Year Fixed Rate 2024-10-10 6.36%
Coldwater 30 Year Fixed Rate Refi 2024-10-10 6.22%
Coldwater 15 Year Fixed Rate 2024-10-10 5.61%
Coldwater 15 Year Fixed Rate Refi 2024-10-10 5.71%
Coldwater 30 Year FHA 2024-10-10 6.2%
Coldwater 30 Year FHA Refi 2024-10-10 6%
Coldwater 30 Year USDA 2024-10-10 6.18%
Coldwater 30 Year USDA Refi 2024-10-10 6.18%
Coldwater 30 Year VA 2024-10-10 5.65%
Coldwater 30 Year VA Refi 2024-10-10 6.05%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Coldwater, MI.

Coldwater 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 Coldwater, 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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
OAK MORTGAGE, LLC 28 6.74% $3,313
QUICKEN LOANS, LLC 27 6.69% $6,167
UNION HOME MORTGAGE CORP. 19 7.10% $5,418
GVC MORTGAGE, INC. 17 6.99% $4,126
RUOFF MORTGAGE COMPANY, INC. 11 6.93% $3,882
UNITED WHOLESALE MORTGAGE, LLC 11 6.97% $6,398
The Huntington National Bank 9 6.63% $3,385
CONSUMERS 7 7.36% $3,970
Honor Credit Union 5 6.28% $2,866
County National Bank 5 6.30% $5,382
OMNI Community Credit Union 4 6.97% $3,208
JPMorgan Chase Bank 3 7.12% $5,750
PENNYMAC LOAN SERVICES, LLC 3 6.41% $7,779
MARSHALL COMMUNITY CREDIT UNION 3 7.17% $2,253
Fifth Third Bank 3 6.50% $3,596
ProFed Federal Credit Union 3 7.38% $3,132
Kellogg Community Credit Union 3 6.38% $2,495
TEACHERS CREDIT UNION 2 7.25% $4,524
CROSSCOUNTRY MORTGAGE, LLC 2 6.88% $5,635
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.68% $3,126
First Federal Bank of the Midwest 2 6.88% $3,562
GUIDANCE RESIDENTIAL, LLC 2 6.94% $3,787
MORTGAGE CENTER L.C 2 6.44% $2,882
Mr. Cooper ( Nationstar Mortgage ) 2 6.93% $5,958
Neighborhood Loans, Inc. 2 6.81% $3,553
UIF CORPORATION 2 6.88% $3,023
Wells Fargo Bank 1 5.75% $5,905
NEWREZ LLC 1 6.63% $4,628
NORTHERN MORTGAGE SERVICES, LLC 1 7.38% $10,507
MID AMERICA MORTGAGE, INC. 1 8.13% $21,043
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 1 6.63% $3,000
Paramount Residential Mortgage Group, Inc. 1 7.50% $2,112
LAKE MICHIGAN CREDIT UNION 1 5.88% $4,085
PNC Bank 1 6.38% $2,606
PREMIA MORTGAGE, LLC 1 6.50% $0
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $3,410
Guardian Savings Bank, A Federal Savings Bank 1 6.88% $5,615
GUARANTEED RATE AFFINITY, LLC 1 7.58% $3,385
Flagstar Bank, FSB 1 6.99% $5,706
SUMMIT HOME MORTGAGE, LLC 1 7.99% $1,403
CARDINAL FINANCIAL 1 7.38% $5,508
Directions Credit Union, Inc. 1 7.13% $0
The State Bank and Trust Company 1 6.63% $8,312
The Union Bank Company 1 7.63% $7,536
Three Rivers Federal Credit Union 1 7.50% $3,254
TLC COMMUNITY Credit Union 1 7.50% $2,839
ZILLOW HOME LOANS, LLC 1 7.25% $6,486
Citizens Bank 1 6.75% $3,858
Union Savings Bank 1 6.50% $1,812
MIDWEST AMERICA 1 7.13% $3,404
Carrington Mortgage Services, LLC 1 6.50% $5,498
Mortgage Research Center, LLC 1 7.13% $1,243
Waterstone Mortgage Corporation 1 7.88% $3,806

Coldwater Average Closing Costs & Other Stats

Coldwater, MI's 53 lenders originated 719 loans during 2023. The total origination value was $112,215,000, with an average loan value of $156,071.

Coldwater's average closing costs are $4,020.

The top Coldwater lender as defined by loan originations is OAK MORTGAGE, LLC, with 28 loans originated. Their average total fees are $3,313, which is $2,854 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Coldwater lenders (with over 10 loans originated) are OAK MORTGAGE, LLC ($3,313), RUOFF MORTGAGE COMPANY, INC. ($3,882), GVC MORTGAGE, INC. ($4,126), UNION HOME MORTGAGE CORP. ($5,418) and QUICKEN LOANS, LLC ($6,167).

The lowest rate Coldwater lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.69%), OAK MORTGAGE, LLC (6.74%), RUOFF MORTGAGE COMPANY, INC. (6.93%), UNITED WHOLESALE MORTGAGE, LLC (6.97%) and GVC MORTGAGE, INC. (6.99%).

Coldwater, 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
The Huntington National Bank $4,255,000 $10,575,000 148.5% 9.4%
Southern Michigan Bank & Trust $10,715,000 $9,985,000 -6.8% 8.9%
QUICKEN LOANS, LLC $12,210,000 $8,780,000 -28.1% 7.8%
UNION HOME MORTGAGE CORP. $1,030,000 $7,885,000 665.5% 7.0%
OAK MORTGAGE, LLC $22,210,000 $7,520,000 -66.1% 6.7%
GVC MORTGAGE, INC. $2,100,000 $5,225,000 148.8% 4.7%
Honor Credit Union $6,060,000 $3,965,000 -34.6% 3.5%
MARSHALL COMMUNITY CREDIT UNION $3,660,000 $3,530,000 -3.6% 3.1%
CONSUMERS $6,350,000 $3,395,000 -46.5% 3.0%
UNITED WHOLESALE MORTGAGE, LLC $2,375,000 $3,260,000 37.3% 2.9%
RUOFF MORTGAGE COMPANY, INC. $2,160,000 $3,180,000 47.2% 2.8%
Sturgis Bank & Trust Company $5,620,000 $3,000,000 -46.6% 2.7%
PNC Bank $4,165,000 $2,970,000 -28.7% 2.6%
Mortgage Research Center, LLC $1,750,000 $1,890,000 8.0% 1.7%
Merchants Bank of Indiana $1,495,000 n/a 1.3%
Carrington Mortgage Services, LLC $235,000 $1,320,000 461.7% 1.2%
21ST MORTGAGE CORPORATION $485,000 $1,240,000 155.7% 1.1%
County National Bank $675,000 $1,225,000 81.5% 1.1%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $910,000 $1,045,000 14.8% 0.9%
OMNI Community Credit Union $530,000 $1,045,000 97.2% 0.9%
Fifth Third Bank $2,175,000 $930,000 -57.2% 0.8%
CARDINAL FINANCIAL $670,000 $905,000 35.1% 0.8%
Neighborhood Loans, Inc. $655,000 $890,000 35.9% 0.8%
BROKER SOLUTIONS, INC. $1,390,000 $860,000 -38.1% 0.8%
MORTGAGE CENTER L.C $2,010,000 $845,000 -58.0% 0.8%
PENNYMAC LOAN SERVICES, LLC $260,000 $815,000 213.5% 0.7%
Kellogg Community Credit Union $1,460,000 $805,000 -44.9% 0.7%
Guardian Savings Bank, A Federal Savings Bank $785,000 n/a 0.7%
CROSSCOUNTRY MORTGAGE, LLC $615,000 $745,000 21.1% 0.7%
JPMorgan Chase Bank $770,000 $735,000 -4.5% 0.7%
Flagstar Bank, FSB $1,320,000 $725,000 -45.1% 0.6%
MID AMERICA MORTGAGE, INC. $1,100,000 $675,000 -38.6% 0.6%
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $5,520,000 $670,000 -87.9% 0.6%
LENDINGONE, LLC $640,000 n/a 0.6%
NFM, INC. $560,000 n/a 0.5%
UIF CORPORATION $135,000 $550,000 307.4% 0.5%
The Union Bank Company $495,000 n/a 0.4%
Wells Fargo Bank $720,000 $480,000 -33.3% 0.4%
First Federal Bank of the Midwest $2,495,000 $465,000 -81.4% 0.4%
Farmers State Bank $1,640,000 $460,000 -72.0% 0.4%
Citizens Bank $610,000 $450,000 -26.2% 0.4%
MUTUAL OF OMAHA MORTGAGE, INC. $220,000 $450,000 104.5% 0.4%
Mr. Cooper ( Nationstar Mortgage ) $680,000 $440,000 -35.3% 0.4%
NAVY FEDERAL CREDIT UNION $220,000 $430,000 95.5% 0.4%
GreenStone Farm Credit Services, FLCA $1,420,000 $420,000 -70.4% 0.4%
NORTHERN MORTGAGE SERVICES, LLC $415,000 n/a 0.4%
ZILLOW HOME LOANS, LLC $115,000 $410,000 256.5% 0.4%
The First National Bank of Pandora $405,000 n/a 0.4%
TEACHERS CREDIT UNION $380,000 $395,000 3.9% 0.4%
LAKE MICHIGAN CREDIT UNION $1,450,000 $385,000 -73.4% 0.3%
Northpointe Bank $55,000 $380,000 590.9% 0.3%
MIDWEST AMERICA $410,000 $365,000 -11.0% 0.3%
GUIDANCE RESIDENTIAL, LLC $350,000 n/a 0.3%
GUILD MORTGAGE COMPANY $325,000 n/a 0.3%
The Genoa Banking Company $305,000 n/a 0.3%
Three Rivers Federal Credit Union $620,000 $305,000 -50.8% 0.3%
PRIMELENDING, A PLAINSCAPITAL COMPANY $235,000 $300,000 27.7% 0.3%
NEW DAY FINANCIAL, LLC $105,000 $290,000 176.2% 0.3%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $555,000 $285,000 -48.6% 0.3%
LOANDEPOT.COM, LLC $1,825,000 $285,000 -84.4% 0.3%
ADVIA $260,000 $265,000 1.9% 0.2%
ProFed Federal Credit Union $330,000 $265,000 -19.7% 0.2%
GUARANTEED RATE, INC. $1,030,000 $260,000 -74.8% 0.2%
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $215,000 $255,000 18.6% 0.2%
HOWARD HANNA FINANCIAL SERVICES, INC. $250,000 n/a 0.2%
TLC COMMUNITY Credit Union $245,000 n/a 0.2%
SUMMIT HOME MORTGAGE, LLC $220,000 n/a 0.2%
AMERICAN PACIFIC MORTGAGE CORPORATION $205,000 n/a 0.2%
PREMIA MORTGAGE, LLC $535,000 $205,000 -61.7% 0.2%
NETWORK CAPITAL FUNDING CORPORATION $165,000 $195,000 18.2% 0.2%
The State Bank and Trust Company $1,555,000 $195,000 -87.5% 0.2%
Discover Bank $80,000 $180,000 125.0% 0.2%
MORTGAGE 1 INCORPORATED $1,150,000 $175,000 -84.8% 0.2%
Paramount Residential Mortgage Group, Inc. $175,000 n/a 0.2%
Frankenmuth Credit Union $165,000 n/a 0.1%
GREENSTATE CREDIT UNION $100,000 $165,000 65.0% 0.1%
TOP FLITE FINANCIAL, INC. $460,000 $165,000 -64.1% 0.1%
GUARANTEED RATE AFFINITY, LLC $155,000 n/a 0.1%
PHH Mortgage Corporation $155,000 n/a 0.1%
Figure Lending LLC $150,000 n/a 0.1%
Waterstone Mortgage Corporation $500,000 $145,000 -71.0% 0.1%
KeyBank $125,000 $135,000 8.0% 0.1%
LENDINGHOME FUNDING CORPORATION $135,000 n/a 0.1%
USAA Federal Savings Bank $195,000 $135,000 -30.8% 0.1%
Directions Credit Union, Inc. $175,000 $125,000 -28.6% 0.1%
Equity Prime Mortgage LLC $115,000 n/a 0.1%
HOMEBRIDGE FINANCIAL SERVICES, INC. $115,000 n/a 0.1%
MEMBER FIRST MORTGAGE, LLC $105,000 $115,000 9.5% 0.1%
MICHIGAN MUTUAL, INC. $835,000 $115,000 -86.2% 0.1%
1st Source Bank $205,000 $105,000 -48.8% 0.1%
Independent Bank $550,000 $105,000 -80.9% 0.1%
Union Savings Bank $105,000 n/a 0.1%
SUCCESS MORTGAGE PARTNERS, INC. $165,000 $95,000 -42.4% 0.1%
KALSEE CREDIT UNION $90,000 n/a 0.1%
SUN WEST MORTGAGE COMPANY, INC. $85,000 n/a 0.1%
UNITED $290,000 $85,000 -70.7% 0.1%
NEWREZ LLC $205,000 $75,000 -63.4% 0.1%
SPRING EQ, LLC $65,000 n/a 0.1%
Superior Credit Union, Inc. $305,000 $65,000 -78.7% 0.1%
COMMUNITY CHOICE CREDIT UNION $65,000 $60,000 -7.7% 0.1%
INTERRA CREDIT UNION $55,000 n/a 0.0%
Coastal Community Bank $35,000 n/a 0.0%
GENISYS $35,000 $35,000 0.0% 0.0%
The Farmers & Merchants State Bank $500,000 $25,000 -95.0% 0.0%

Coldwater's top lender by overall market share is The Huntington National Bank, with 9.4% market share. In second place, with 8.9%, is Southern Michigan Bank & Trust, having originated $9,985,000 in loans. In third place, with 7.8%, is QUICKEN LOANS, LLC, having originated $8,780,000 in loans. In fourth place, with 7.0%, is UNION HOME MORTGAGE CORP., having originated $7,885,000 in loans. In fifth place, with 6.7%, is OAK MORTGAGE, LLC, having originated $7,520,000 in loans.

Coldwater, MI Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 360 $77,180,000 $214,389
Cash Out Refi 120 $15,410,000 $128,417
Home Improvement 82 $4,190,000 $51,098
Other 82 $6,040,000 $73,659
Refi 75 $9,395,000 $125,267

Coldwater's most frequently cited loan purpose was Home Purchase, with 360 originations. The 2nd most popular reason was Cash Out Refi, with 120 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 234 $40,210,000 $171,838
Over 8% 155 $13,005,000 $83,903
7-8% 148 $23,850,000 $161,149
5-6% 72 $12,150,000 $168,750
4-5% 3 $335,000 $111,667
3-4% 2 $800,000 $400,000

During 2023, Coldwater's most frequently originated rate bucket was 6-7%, with 234 originations.

Loan Sizing (Coldwater, MI MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 290 $41,270,000 $142,310
$100,000 or less 281 $14,075,000 $50,089
$200k-400k 121 $32,565,000 $269,132
$400k-600k 18 $8,480,000 $471,111
$600k-1000k 6 $4,420,000 $736,667
$Over $1MM 3 $11,405,000 $3,801,667

Coldwater's loan sizing saw the bucket of loans from $100k-200k with 290 originations, totaling $41,270,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 263 $48,015,000 $182,567
60-80% 119 $24,425,000 $205,252
20-40% 85 $5,855,000 $68,882
Under 20% 78 $2,570,000 $32,949
40-60% 68 $8,780,000 $129,118
Over 100% 4 $8,620,000 $2,155,000

Coldwater's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 263 originations, totaling $48,015,000 in origination value.