Escanaba Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Escanaba averaged 6.96% for the week of 2025-05-22, compared to the national average of 6.86% for the same period.

    The average rate for the prior week (2025-05-15) was 6.71% and one month ago for the week of 2025-04-17, the average rate was 6.73%.

    Escanaba's average rate one year ago was 7.12%.

    For refis of the same type during the week of 2025-05-22, the average rate was 7.16%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-05-22 6.86%
    Escanaba 30 Year Fixed Rate 2025-05-22 6.96%
    Escanaba 30 Year Fixed Rate Refi 2025-05-22 7.16%
    Escanaba 15 Year Fixed Rate 2025-05-22 6.01%
    Escanaba 15 Year Fixed Rate Refi 2025-05-22 6.51%
    Escanaba 30 Year FHA 2025-05-22 6.61%
    Escanaba 30 Year FHA Refi 2025-05-22 6.61%
    Escanaba 30 Year USDA 2025-05-22 6.63%
    Escanaba 30 Year USDA Refi 2025-05-22 6.53%
    Escanaba 30 Year VA 2025-05-22 6.42%
    Escanaba 30 Year VA Refi 2025-05-22 6.32%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Escanaba, MI.

    Escanaba 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 Escanaba, 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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 8 6.81% $5,845
    Flagstar Bank, FSB 5 7.39% $3,272
    BROKER SOLUTIONS, INC. 3 7.16% $3,716
    UNITED WHOLESALE MORTGAGE, LLC 3 7.30% $3,791
    LOANDEPOT.COM, LLC 3 6.54% $4,790
    IncredibleBank 2 7.56% $3,134
    AMERICAN FINANCING CORPORATION 2 6.13% $4,263
    CHURCHILL MORTGAGE CORPORATION 2 6.88% $5,744
    NBKC BANK 2 7.19% $2,449
    Nicolet National Bank 2 6.94% $3,124
    CONSUMERS 2 6.81% $3,520
    GUARANTEED RATE, INC. 1 6.93% $3,441
    GUILD MORTGAGE COMPANY 1 6.99% $4,489
    Ixonia Bank 1 6.99% $4,014
    JPMorgan Chase Bank 1 7.99% $4,609
    LAKE MICHIGAN CREDIT UNION 1 6.38% $2,810
    Meijer Credit Union 1 6.88% $2,323
    MICHIGAN MUTUAL, INC. 1 6.50% $2,996
    MORTGAGE 1 INCORPORATED 1 7.99% $7,475
    Mortgage Research Center, LLC 1 7.63% $7,462
    M&T Bank 1 7.13% $2,946
    NAVY FEDERAL CREDIT UNION 1 6.00% $4,647
    PLUS RELOCATION MORTGAGE, LLC 1 7.13% $7,259
    PREMIA MORTGAGE, LLC 1 6.90% $495
    STOCKTON MORTGAGE CORPORATION 1 6.63% $8,725
    UNIVERSITY OF MICHIGAN CREDIT UNION 1 6.88% $2,732
    Ally Bank 1 7.63% $2,040
    U.S. Bank 1 6.13% $4,201
    Associated Bank 1 6.00% $4,515
    Bank First, N.A. 1 6.38% $2,603
    CARDINAL FINANCIAL 1 6.88% $3,467
    CoVantage Credit Union 1 6.63% $3,925
    Deere Employees Credit Union 1 5.99% $3,584
    Equity Prime Mortgage LLC 1 7.25% $4,345
    Farmers Bank & Trust 1 7.25% $3,334
    FIRST COMMUNITY MORTGAGE, INC. 1 6.63% $3,826
    First Merchants Bank 1 6.75% $4,841
    GENISYS 1 6.63% $3,049

    Escanaba Average Closing Costs & Other Stats

    Escanaba, MI's 38 lenders originated 198 loans during 2024. The total origination value was $34,460,000, with an average loan value of $174,040.

    Escanaba's average closing costs are $3,912.

    The top Escanaba lender as defined by loan originations is QUICKEN LOANS, LLC, with 8 loans originated. Their average total fees are $5,845, which is $2,573 higher than the next largest lender, Flagstar Bank, FSB.

    The lowest fee Escanaba lenders (with over 10 loans originated) are .

    The lowest rate Escanaba lenders (with over 10 loans originated) are .

    Escanaba, 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 $2,785,000 $4,650,000 67.0% 13.5%
    Mortgage Research Center, LLC $1,875,000 $3,510,000 87.2% 10.2%
    LOANDEPOT.COM, LLC $645,000 $1,695,000 162.8% 4.9%
    UNITED WHOLESALE MORTGAGE, LLC $2,335,000 $1,510,000 -35.3% 4.4%
    NEW DAY FINANCIAL, LLC $525,000 $1,460,000 178.1% 4.2%
    Flagstar Bank, FSB $1,085,000 $1,235,000 13.8% 3.6%
    NAVY FEDERAL CREDIT UNION $800,000 $1,190,000 48.8% 3.5%
    PENNYMAC LOAN SERVICES, LLC $1,155,000 n/a 3.4%
    FREEDOM MORTGAGE CORPORATION $545,000 $915,000 67.9% 2.7%
    IncredibleBank $105,000 $845,000 704.8% 2.5%
    CROSSCOUNTRY MORTGAGE, LLC $770,000 n/a 2.2%
    First Merchants Bank $715,000 n/a 2.1%
    BROKER SOLUTIONS, INC. $75,000 $635,000 746.7% 1.8%
    Nicolet National Bank $1,470,000 $615,000 -58.2% 1.8%
    GUILD MORTGAGE COMPANY $185,000 $605,000 227.0% 1.8%
    MORTGAGE 1 INCORPORATED $575,000 n/a 1.7%
    CONSUMERS $185,000 $520,000 181.1% 1.5%
    GreenStone Farm Credit Services, FLCA $970,000 $515,000 -46.9% 1.5%
    VILLAGE CAPITAL MORTGAGE $310,000 $505,000 62.9% 1.5%
    GUARANTEED RATE, INC. $480,000 n/a 1.4%
    NBKC BANK $470,000 n/a 1.4%
    Associated Bank $455,000 n/a 1.3%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $415,000 n/a 1.2%
    HOMESIDE FINANCIAL, LLC $95,000 $405,000 326.3% 1.2%
    Carrington Mortgage Services, LLC $400,000 n/a 1.2%
    PLUS RELOCATION MORTGAGE, LLC $375,000 n/a 1.1%
    JPMorgan Chase Bank $620,000 $350,000 -43.5% 1.0%
    GENISYS $345,000 n/a 1.0%
    Mr. Cooper ( Nationstar Mortgage ) $615,000 $340,000 -44.7% 1.0%
    Farmers Bank & Trust $325,000 n/a 0.9%
    Figure Lending LLC $320,000 n/a 0.9%
    CHURCHILL MORTGAGE CORPORATION $310,000 n/a 0.9%
    Equity Prime Mortgage LLC $310,000 n/a 0.9%
    Deere Employees Credit Union $305,000 n/a 0.9%
    U.S. Bank $165,000 $260,000 57.6% 0.8%
    LAKEVIEW LOAN SERVICING, LLC $95,000 $255,000 168.4% 0.7%
    PREMIA MORTGAGE, LLC $155,000 $245,000 58.1% 0.7%
    TOP FLITE FINANCIAL, INC. $85,000 $240,000 182.4% 0.7%
    AMERICAN FINANCING CORPORATION $230,000 n/a 0.7%
    UNIVERSITY OF MICHIGAN CREDIT UNION $215,000 n/a 0.6%
    Ally Bank $205,000 n/a 0.6%
    UNION HOME MORTGAGE CORP. $205,000 $205,000 0.0% 0.6%
    CARDINAL FINANCIAL $215,000 $195,000 -9.3% 0.6%
    MICHIGAN MUTUAL, INC. $145,000 $185,000 27.6% 0.5%
    CoVantage Credit Union $55,000 $180,000 227.3% 0.5%
    MUTUAL OF OMAHA MORTGAGE, INC. $170,000 n/a 0.5%
    STOCKTON MORTGAGE CORPORATION $165,000 n/a 0.5%
    Honor Credit Union $255,000 $155,000 -39.2% 0.4%
    NEWREZ LLC $65,000 $155,000 138.5% 0.4%
    Northpointe Bank $155,000 n/a 0.4%
    Meijer Credit Union $150,000 n/a 0.4%
    AMERICAN FINANCIAL RESOURCES, INC. $145,000 n/a 0.4%
    FIRST COMMUNITY MORTGAGE, INC. $145,000 n/a 0.4%
    Bank First, N.A. $135,000 n/a 0.4%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $135,000 n/a 0.4%
    M&T Bank $135,000 n/a 0.4%
    USAA Federal Savings Bank $690,000 $135,000 -80.4% 0.4%
    Ixonia Bank $165,000 $125,000 -24.2% 0.4%
    MID AMERICA MORTGAGE, INC. $105,000 $125,000 19.0% 0.4%
    The Loan Store, Inc. $115,000 n/a 0.3%
    TOWNE MORTGAGE COMPANY $115,000 n/a 0.3%
    LAKE MICHIGAN CREDIT UNION $890,000 $105,000 -88.2% 0.3%
    The Huntington National Bank $540,000 $105,000 -80.6% 0.3%
    Discover Bank $85,000 $80,000 -5.9% 0.2%
    COMMUNITY FINANCIAL CREDIT UNION $75,000 n/a 0.2%
    ROYAL UNITED MORTGAGE LLC $65,000 n/a 0.2%
    Coastal Community Bank $40,000 $50,000 25.0% 0.1%
    Wells Fargo Bank $45,000 n/a 0.1%
    ChoiceOne Bank $35,000 n/a 0.1%

    Escanaba's top lender by overall market share is QUICKEN LOANS, LLC, with 13.5% market share. In second place, with 10.2%, is Mortgage Research Center, LLC, having originated $3,510,000 in loans. In third place, with 4.9%, is LOANDEPOT.COM, LLC, having originated $1,695,000 in loans. In fourth place, with 4.4%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $1,510,000 in loans. In fifth place, with 4.2%, is NEW DAY FINANCIAL, LLC, having originated $1,460,000 in loans.

    Escanaba Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Escanaba (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 $117,350 (5.6%) $158,826 (6.7%) 0.00 169
    2018-02-01 $130,975 (15.2%) $171,236 (13.9%) 0.00 144
    2018-03-01 $136,450 (18.7%) $159,905 (2.5%) 0.00 143
    2018-04-01 $139,450 (21.3%) $166,076 (5.0%) 0.00 149
    2018-05-01 $139,925 (17.8%) $165,807 (-1.8%) 0.00 186
    2018-06-01 $139,900 (15.7%) $167,511 (-1.3%) 0.00 238
    2018-07-01 $129,700 (3.8%) $160,089 (-6.7%) 0.00 250
    2018-08-01 $129,950 (4.6%) $159,222 (-5.7%) 0.00 260
    2018-09-01 $124,900 (1.1%) $159,042 (-6.5%) 0.00 258
    2018-10-01 $118,850 (-0.7%) $152,551 (-9.2%) 0.00 252
    2018-11-01 $116,750 (-4.7%) $152,682 (-6.8%) 0.00 231
    2018-12-01 $117,000 (-6.3%) $147,181 (-9.5%) 0.00 205
    2019-01-01 $107,000 (-8.8%) $143,927 (-9.4%) 0.00 180
    2019-02-01 $115,350 (-11.9%) $152,511 (-10.9%) 0.00 168
    2019-03-01 $128,214 (-6.0%) $164,919 (3.1%) 0.00 163
    2019-04-01 $141,075 (1.2%) $178,837 (7.7%) 0.00 161
    2019-05-01 $144,325 (3.1%) $177,563 (7.1%) 0.00 169
    2019-06-01 $149,950 (7.2%) $183,079 (9.3%) 0.00 187
    2019-07-01 $144,950 (11.8%) $179,459 (12.1%) 0.00 198
    2019-08-01 $135,836 (4.5%) $175,720 (10.4%) 0.00 212
    2019-09-01 $129,741 (3.9%) $169,629 (6.7%) 0.00 219
    2019-10-01 $124,975 (5.2%) $165,182 (8.3%) 0.00 228
    2019-11-01 $124,900 (7.0%) $165,768 (8.6%) 0.00 219
    2019-12-01 $120,000 (2.6%) $167,022 (13.5%) 0.00 196
    2020-01-01 $119,925 (12.1%) $170,384 (18.4%) 0.00 170
    2020-02-01 $119,900 (3.9%) $169,064 (10.9%) 0.00 163
    2020-03-01 $118,725 (-7.4%) $173,426 (5.2%) 0.00 159
    2020-04-01 $129,225 (-8.4%) $172,216 (-3.7%) 0.00 148
    2020-05-01 $124,500 (-13.7%) $179,682 (1.2%) 0.00 148
    2020-06-01 $142,225 (-5.2%) $200,254 (9.4%) 0.00 137
    2020-07-01 $139,900 (-3.5%) $201,021 (12.0%) 0.00 129
    2020-08-01 $120,000 (-11.7%) $192,666 (9.6%) 0.00 136
    2020-09-01 $126,175 (-2.8%) $198,642 (17.1%) 0.00 125
    2020-10-01 $137,750 (10.2%) $198,596 (20.2%) 0.00 104
    2020-11-01 $128,350 (2.8%) $192,589 (16.2%) 0.00 97
    2020-12-01 $120,300 (0.3%) $193,201 (15.7%) 0.00 97
    2021-01-01 $118,400 (-1.3%) $186,207 (9.3%) 0.00 76
    2021-02-01 $110,500 (-7.8%) $197,443 (16.8%) 0.00 58
    2021-03-01 $161,475 (36.0%) $244,225 (40.8%) 0.00 44
    2021-04-01 $184,450 (42.7%) $272,932 (58.5%) 0.00 45
    2021-05-01 $159,950 (28.5%) $265,662 (47.9%) 0.00 49
    2021-06-01 $197,450 (38.8%) $274,425 (37.0%) 0.00 61
    2021-07-01 $184,900 (32.2%) $264,371 (31.5%) 0.00 70
    2021-08-01 $166,125 (38.4%) $249,497 (29.5%) 0.00 78
    2021-09-01 $164,925 (30.7%) $258,308 (30.0%) 0.00 78
    2021-10-01 $159,900 (16.1%) $275,803 (38.9%) 0.00 71
    2021-11-01 $159,150 (24.0%) $261,125 (35.6%) 0.00 64
    2021-12-01 $161,150 (34.0%) $273,592 (41.6%) 0.00 54
    2022-01-01 $169,900 (43.5%) $343,850 (84.7%) 0.00 36
    2022-02-01 $189,900 (71.9%) $348,487 (76.5%) 0.00 32
    2022-03-01 $182,625 (13.1%) $354,660 (45.2%) 0.00 30
    2022-04-01 $196,200 (6.4%) $377,265 (38.2%) 0.00 37
    2022-05-01 $259,675 (62.4%) $354,507 (33.4%) 0.00 46
    2022-06-01 $215,950 (9.4%) $329,266 (20.0%) 0.00 49
    2022-07-01 $254,950 (37.9%) $350,098 (32.4%) 0.00 57
    2022-08-01 $277,475 (67.0%) $348,139 (39.5%) 0.00 69
    2022-09-01 $259,925 (57.6%) $341,774 (32.3%) 0.00 68
    2022-10-01 $204,750 (28.1%) $287,008 (4.1%) 0.00 68
    2022-11-01 $177,975 (11.8%) $275,812 (5.6%) 0.00 62
    2022-12-01 $179,000 (11.1%) $290,293 (6.1%) 0.00 57
    2023-01-01 $169,450 (-0.3%) $287,464 (-16.4%) 0.00 48
    2023-02-01 $219,250 (15.5%) $344,180 (-1.2%) 0.00 37
    2023-03-01 $400,225 (119.2%) $425,539 (20.0%) 0.00 32
    2023-04-01 $415,000 (111.5%) $428,408 (13.6%) 0.00 26
    2023-05-01 $317,625 (22.3%) $372,838 (5.2%) 0.00 36
    2023-06-01 $290,000 (34.3%) $376,559 (14.4%) 0.00 44
    2023-07-01 $293,250 (15.0%) $410,013 (17.1%) 0.00 46
    2023-08-01 $308,750 (11.3%) $416,632 (19.7%) 0.00 48
    2023-09-01 $279,000 (7.3%) $384,885 (12.6%) 0.00 59
    2023-10-01 $255,000 (24.5%) $360,811 (25.7%) 0.00 65
    2023-11-01 $204,675 (15.0%) $355,612 (28.9%) 0.00 63
    2023-12-01 $199,900 (11.7%) $345,530 (19.0%) 0.00 63
    2024-01-01 $224,750 (32.6%) $370,940 (29.0%) 0.00 54
    2024-02-01 $225,000 (2.6%) $390,482 (13.5%) 0.00 57
    2024-03-01 $249,900 (-37.6%) $429,893 (1.0%) 0.00 50
    2024-04-01 $271,000 (-34.7%) $426,746 (-0.4%) 0.00 50
    2024-05-01 $271,000 (-14.7%) $424,159 (13.8%) 0.00 56
    2024-06-01 $292,500 (0.9%) $371,378 (-1.4%) 0.00 58
    2024-07-01 $275,000 (-6.2%) $359,440 (-12.3%) 0.00 55
    2024-08-01 $320,000 (3.6%) $368,855 (-11.5%) 0.00 53
    2024-09-01 $314,500 (12.7%) $363,770 (-5.5%) 0.00 55
    2024-10-01 $304,450 (19.4%) $422,436 (17.1%) 0.00 68
    2024-11-01 $300,000 (46.6%) $422,621 (18.8%) 0.00 71
    2024-12-01 $318,750 (59.5%) $440,652 (27.5%) 0.00 70
    2025-01-01 $349,900 (55.7%) $463,894 (25.1%) 0.00 63
    2025-02-01 $392,000 (74.2%) $476,739 (22.1%) 0.00 61
    2025-03-01 $499,925 (100.1%) $560,378 (30.4%) 0.00 50
    2025-04-01 $470,077 (73.5%) $553,852 (29.8%) 0.00 51
    Escanaba's median listing price for 2025-04-01 was $470,077, a difference of $199,077 (73.5%) versus the prior year and $-29,848 versus the prior month.

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

    Escanaba's average listing price for 2025-04-01 was $553,852, a difference of $127,106 (29.8%) versus the prior year and $-6,526 versus the prior month.

    For the 2025-04-01 period, Escanaba had 51 MLS listings, a difference of 1 listings (2%) versus the prior month and 1 listings (2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Escanaba (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,447 sqft
    2018-02-01 0 days 1,536 sqft
    2018-03-01 0 days 1,506 sqft
    2018-04-01 0 days 1,499 sqft
    2018-05-01 0 days 1,466 sqft
    2018-06-01 0 days 1,449 sqft
    2018-07-01 0 days 1,485 sqft
    2018-08-01 0 days 1,484 sqft
    2018-09-01 0 days 1,485 sqft
    2018-10-01 0 days 1,447 sqft
    2018-11-01 0 days 1,426 sqft
    2018-12-01 0 days 1,472 sqft
    2019-01-01 0 days 1,402 sqft
    2019-02-01 0 days 1,444 sqft
    2019-03-01 0 days 1,473 sqft
    2019-04-01 0 days 1,505 sqft
    2019-05-01 0 days 1,524 sqft
    2019-06-01 0 days 1,564 sqft
    2019-07-01 0 days 1,539 sqft
    2019-08-01 0 days 1,529 sqft
    2019-09-01 0 days 1,526 sqft
    2019-10-01 0 days 1,521 sqft
    2019-11-01 0 days 1,505 sqft
    2019-12-01 0 days 1,508 sqft
    2020-01-01 0 days 1,501 sqft
    2020-02-01 0 days 1,484 sqft
    2020-03-01 0 days 1,489 sqft
    2020-04-01 0 days 1,492 sqft
    2020-05-01 0 days 1,497 sqft
    2020-06-01 0 days 1,505 sqft
    2020-07-01 0 days 1,506 sqft
    2020-08-01 0 days 1,491 sqft
    2020-09-01 0 days 1,520 sqft
    2020-10-01 0 days 1,522 sqft
    2020-11-01 0 days 1,489 sqft
    2020-12-01 0 days 1,491 sqft
    2021-01-01 0 days 1,500 sqft
    2021-02-01 0 days 1,570 sqft
    2021-03-01 0 days 1,600 sqft
    2021-04-01 0 days 1,546 sqft
    2021-05-01 0 days 1,499 sqft
    2021-06-01 0 days 1,462 sqft
    2021-07-01 0 days 1,545 sqft
    2021-08-01 0 days 1,727 sqft
    2021-09-01 0 days 1,699 sqft
    2021-10-01 0 days 1,648 sqft
    2021-11-01 0 days 1,526 sqft
    2021-12-01 0 days 1,668 sqft
    2022-01-01 0 days 1,500 sqft
    2022-02-01 0 days 1,416 sqft
    2022-03-01 0 days 1,528 sqft
    2022-04-01 0 days 1,875 sqft
    2022-05-01 0 days 1,829 sqft
    2022-06-01 0 days 1,840 sqft
    2022-07-01 0 days 1,870 sqft
    2022-08-01 0 days 1,859 sqft
    2022-09-01 0 days 1,822 sqft
    2022-10-01 0 days 1,808 sqft
    2022-11-01 0 days 1,713 sqft
    2022-12-01 0 days 1,672 sqft
    2023-01-01 0 days 1,535 sqft
    2023-02-01 0 days 1,717 sqft
    2023-03-01 0 days 2,019 sqft
    2023-04-01 0 days 1,829 sqft
    2023-05-01 0 days 1,872 sqft
    2023-06-01 0 days 1,844 sqft
    2023-07-01 0 days 1,847 sqft
    2023-08-01 0 days 1,890 sqft
    2023-09-01 0 days 1,790 sqft
    2023-10-01 0 days 1,742 sqft
    2023-11-01 0 days 1,788 sqft
    2023-12-01 0 days 1,792 sqft
    2024-01-01 0 days 1,846 sqft
    2024-02-01 0 days 1,810 sqft
    2024-03-01 0 days 1,824 sqft
    2024-04-01 0 days 1,816 sqft
    2024-05-01 0 days 1,848 sqft
    2024-06-01 0 days 1,812 sqft
    2024-07-01 0 days 1,774 sqft
    2024-08-01 0 days 1,870 sqft
    2024-09-01 0 days 1,749 sqft
    2024-10-01 0 days 1,610 sqft
    2024-11-01 0 days 1,610 sqft
    2024-12-01 0 days 1,500 sqft
    2025-01-01 0 days 1,511 sqft
    2025-02-01 0 days 1,515 sqft
    2025-03-01 0 days 1,515 sqft
    2025-04-01 0 days 1,532 sqft
    Escanaba's median listing age (time on market) for 2025-04-01 was 0 days.

    Escanaba's median square footage for active listings during the 2025-04-01 period was 1,532 sqft. One year prior, the average listing was 1,816 sqft.

    Escanaba, MI Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 110 $21,870,000 $198,818
    Cash Out Refi 37 $6,885,000 $186,081
    Refi 26 $4,140,000 $159,231
    Other 14 $860,000 $61,429
    Home Improvement 11 $705,000 $64,091

    Escanaba's most frequently cited loan purpose was Home Purchase, with 110 originations. The 2nd most popular reason was Cash Out Refi, with 37 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 97 $17,925,000 $184,794
    7-8% 41 $8,215,000 $200,366
    5-6% 28 $5,630,000 $201,071
    Over 8% 28 $2,330,000 $83,214
    4-5% 3 $325,000 $108,333

    During 2024, Escanaba's most frequently originated rate bucket was 6-7%, with 97 originations.

    Loan Sizing (Escanaba, MI MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 95 $14,285,000 $150,368
    $100,000 or less 47 $2,845,000 $60,532
    $200k-400k 46 $12,280,000 $266,957
    $400k-600k 8 $3,660,000 $457,500
    $600k-1000k 2 $1,390,000 $695,000

    Escanaba's loan sizing saw the bucket of loans from $100k-200k with 95 originations, totaling $14,285,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 104 $20,830,000 $200,288
    60-80% 44 $8,680,000 $197,273
    20-40% 17 $1,155,000 $67,941
    40-60% 10 $1,050,000 $105,000
    Under 20% 9 $355,000 $39,444
    Over 100% 3 $725,000 $241,667

    Escanaba's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 104 originations, totaling $20,830,000 in origination value.