Escanaba Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Escanaba averaged
7.01%
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
7.04% and
one month ago for the week of 2025-05-15, the
average rate was 6.71%.
Escanaba's average rate one year ago was 7.05%.
For refis of the same type during the week of 2025-06-18, the average rate
was 7.01%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Escanaba 30 Year Fixed Rate | 2025-06-18 | 7.01% |
| Escanaba 30 Year Fixed Rate Refi | 2025-06-18 | 7.01% |
| Escanaba 15 Year Fixed Rate | 2025-06-18 | 6.16% |
| Escanaba 15 Year Fixed Rate Refi | 2025-06-18 | 6.56% |
| Escanaba 30 Year FHA | 2025-06-18 | -0.2% |
| Escanaba 30 Year FHA Refi | 2025-06-18 | -0.1% |
| Escanaba 30 Year USDA | 2025-06-18 | 0.2% |
| Escanaba 30 Year USDA Refi | 2025-06-18 | 0.1% |
| Escanaba 30 Year VA | 2025-06-18 | -0.2% |
| Escanaba 30 Year VA Refi | 2025-06-18 | -0.2% |
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.).
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, 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.