Grand Rapids Mortgage Rates

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

30 Year Fixed Rate mortgages in Grand Rapids averaged 6.15% for the week of 2022-06-23, compared to the national average of 5.81% for the same period.

The average rate for the prior week (2022-06-16) was 5.92% and one month ago for the week of 2022-05-19, the average rate was 5.19%.

Grand Rapids's average rate one year ago was 3%.

For refis of the same type during the week of 2022-06-23, the average rate was 5.73%.

Loan Type Date Rate
US 30 Year Fixed Rate 2022-06-23 5.81%
Grand Rapids 30 Year Fixed Rate 2022-06-23 6.15%
Grand Rapids 30 Year Fixed Rate Refi 2022-06-23 5.73%
Grand Rapids 15 Year Fixed Rate 2022-06-23 5.44%
Grand Rapids 15 Year Fixed Rate Refi 2022-06-23 5.54%
Grand Rapids 30 Year FHA 2022-06-23 0.23%
Grand Rapids 30 Year FHA Refi 2022-06-23 -0.14%
Grand Rapids 30 Year USDA 2022-06-23 0.05%
Grand Rapids 30 Year USDA Refi 2022-06-23 0.24%
Grand Rapids 30 Year VA 2022-06-23 0.13%
Grand Rapids 30 Year VA Refi 2022-06-23 -0.15%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Grand Rapids, MN.

Grand 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 Grand Rapids, MN 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
AFFINITY PLUS 99 3.07% $3,763
MEMBERS COOPERATIVE 87 3.11% $3,811
Wells Fargo Bank 65 3.18% $3,316
QUICKEN LOANS, LLC 56 3.13% $5,174
Deerwood Bank 39 2.81% $3,845
Flagstar Bank, FSB 37 3.17% $3,336
PREMIER MORTGAGE RESOURCES, L.L.C. 30 3.38% $5,784
CROSSCOUNTRY MORTGAGE, LLC 25 3.24% $5,356
Northview Bank 18 3.19% $3,783
U.S. Bank 17 3.22% $2,552
LOANDEPOT.COM, LLC 17 3.09% $5,298
FIRST STATE MORTGAGE SERVICES, LLC 16 2.95% $3,039
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 3.13% $3,378
Servion, Inc. 11 3.22% $3,853
American Bank of the North 10 2.73% $4,240
UNITED WHOLESALE MORTGAGE, LLC 10 3.04% $5,833
BROKER SOLUTIONS, INC. 8 3.08% $4,608
PENNYMAC LOAN SERVICES, LLC 8 3.08% $4,328
Bell Bank 7 2.92% $3,450
Alerus Financial 7 3.04% $2,415
AMERISAVE MORTGAGE CORPORATION 7 2.93% $5,233
WINGS FINANCIAL 6 2.69% $3,064
Tradition Mortgage, LLC 6 3.12% $3,192
Bremer Bank 6 3.06% $4,835
JPMorgan Chase Bank 6 3.37% $3,463
TRUSTONE FINANCIAL FEDERAL CREDIT UNION 5 2.98% $3,876
Prosperity Home Mortgage, LLC 5 3.00% $3,626
SPIRE Credit Union 4 3.03% $3,950
MANN FINANCIAL INC. 4 3.22% $4,410
Baxter Credit Union 4 3.09% $3,169
Lend Smart Mortgage, LLC 4 3.09% $3,409
MOVEMENT MORTGAGE, LLC 3 3.04% $3,615
Summit Mortgage Corporation 3 3.25% $3,476
CRESCENT MORTGAGE COMPANY 3 3.13% $5,524
COMPEER FINANCIAL, FLCA 3 3.71% $5,560
North Shore Bank of Commerce 3 3.13% $4,314
BETTER MORTGAGE CORPORATION 3 3.17% $1,783
NAVY FEDERAL CREDIT UNION 3 4.00% $2,101
HIWAY 3 3.04% $4,340
CALIBER HOME LOANS, INC. 3 2.93% $6,046
Cambria Financial Group, LLC 3 3.33% $2,884
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 3.17% $4,897
LEADERONE FINANCIAL CORPORATION 3 3.00% $3,036
ZILLOW HOME LOANS, LLC 2 3.31% $3,032
American Mortgage & Equity Consultants, Inc. 2 3.19% $2,823
Frandsen Bank & Trust 2 3.37% $4,060
FREEDOM MORTGAGE CORPORATION 2 3.75% $1,713
CHERRY CREEK MORTGAGE, LLC 2 3.13% $737
Goldwater Bank, N.A. 2 3.50% $5,922
First Bank & Trust 2 3.31% $5,635
GUARANTEED RATE, INC. 2 3.19% $4,350
SOFI LENDING CORP. 2 3.19% $2,936
EVERETT FINANCIAL, INC. 2 3.25% $1,918
HOMEOWNERS FINANCIAL GROUP USA, LLC 2 2.88% $3,937
HOME POINT FINANCIAL CORPORATION 2 3.25% $2,558
Citibank 2 3.13% $4,766
Hometown Lenders, Inc. 2 3.44% $6,103
ROYAL UNITED MORTGAGE LLC 2 4.06% $3,949
BAY EQUITY LLC 2 3.13% $4,947
EMBRACE HOME LOANS, INC. 2 3.19% $4,510
The Huntington National Bank 2 2.93% $4,301
First Guaranty Mortgage Corporation 2 2.81% $3,377
CORTRUST MORTGAGE, INC. 2 2.63% $5,840
Morgan Stanley Private Bank 2 2.80% $3,878
KS StateBank 2 3.00% $1,968
Waterstone Mortgage Corporation 2 3.31% $3,262
NEWREZ LLC 2 3.31% $2,916
Merchants Bank 2 3.47% $2,282
Strong Home Mortgage, LLC 1 3.25% $1,648
AMERICAN FINANCING CORPORATION 1 2.88% $2,753
AMERICAN INTERNET MORTGAGE, INC. 1 2.88% $2,236
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.38% $3,283
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.38% $3,518
AmeriHome Mortgage Company, LLC 1 3.50% $2,602
Associated Bank 1 3.50% $4,734
Bank of Springfield 1 2.40% $2,397
Barrington Bank & Trust Company, N.A. 1 2.99% $3,158
Choice Financial Group 1 3.13% $6,326
CHURCHILL MORTGAGE CORPORATION 1 3.63% $3,583
Citizens Bank 1 3.00% $6,973
CMG MORTGAGE, INC. 1 3.25% $7,768
Columbia State Bank 1 3.25% $4,077
First Federal Bank 1 3.25% $3,390
First International Bank & Trust 1 2.88% $4,033
First Western Bank & Trust 1 2.75% $3,289
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 3.25% $3,719
GUARANTEED RATE AFFINITY, LLC 1 3.50% $3,166
GUARANTY HOME MORTGAGE CORPORATION 1 3.50% $4,449
HomeTown Bank 1 2.88% $5,686
InterContinental Capital Group, Inc 1 3.25% $3,057
IOWA BANKERS MORTGAGE CORPORATION 1 2.88% $3,920
Lake Area Bank 1 3.00% $3,885
Liberty Bank Minnesota 1 3.13% $1,652
Mortgage Research Center, LLC 1 2.99% $1,342
Mr. Cooper ( Nationstar Mortgage ) 1 3.63% $4,281
NBH Bank 1 3.00% $3,957
NBKC BANK 1 2.75% $1,729
North American Savings Bank, F.S.B. 1 3.50% $3,394
Old National Bank 1 3.78% $629
PENTAGON FEDERAL CREDIT UNION 1 2.75% $964
PLAZA HOME MORTGAGE, INC. 1 2.63% $3,073
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.25% $5,449
RESULTS MORTGAGE, LLC 1 2.99% $5,079
Royal Credit Union 1 2.88% $0
ST. CLOUD FINANCIAL 1 3.13% $7,154
STEARNS LENDING, LLC 1 2.99% $1,786
Stifel Bank and Trust 1 2.63% $2,889
ACADEMY MORTGAGE CORPORATION 1 3.25% $3,880
TCF National Bank 1 3.38% $4,314
The Union Bank Company 1 3.38% $2,918
THRIVENT Federal Credit Union 1 3.13% $2,950
UNION HOME MORTGAGE CORP. 1 3.38% $4,223

Grand Rapids, MN's 112 lenders originated 1,886 loans during 2021. The total origination value was $355,110,000, with an average loan value of $188,287.

The top Grand Rapids lender as defined by loan originations is AFFINITY PLUS, with 99 loans originated. Their average total fees are $3,763, which is $48 lower than the next largest lender, MEMBERS COOPERATIVE.

The lowest fee Grand Rapids lenders (with over 10 loans originated) are U.S. Bank ($2,552), FIRST STATE MORTGAGE SERVICES, LLC ($3,039), Wells Fargo Bank ($3,316), Flagstar Bank, FSB ($3,336) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($3,378).

The lowest rate Grand Rapids lenders (with over 10 loans originated) are American Bank of the North (2.73%), Deerwood Bank (2.81%), FIRST STATE MORTGAGE SERVICES, LLC (2.95%), UNITED WHOLESALE MORTGAGE, LLC (3.04%) and AFFINITY PLUS (3.07%).

Grand Rapids, MN 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
AFFINITY PLUS $47,230,000 $49,115,000 4.0% 13.8%
Wells Fargo Bank $22,460,000 $26,565,000 18.3% 7.5%
QUICKEN LOANS, LLC $18,855,000 $24,190,000 28.3% 6.8%
MEMBERS COOPERATIVE $22,660,000 $23,290,000 2.8% 6.6%
Deerwood Bank $36,405,000 $19,760,000 -45.7% 5.6%
PREMIER MORTGAGE RESOURCES, L.L.C. $16,600,000 $15,285,000 -7.9% 4.3%
Flagstar Bank, FSB $6,705,000 $12,965,000 93.4% 3.7%
CROSSCOUNTRY MORTGAGE, LLC $1,285,000 $10,610,000 725.7% 3.0%
U.S. Bank $9,715,000 $9,770,000 0.6% 2.8%
Northview Bank $10,175,000 $8,640,000 -15.1% 2.4%
LOANDEPOT.COM, LLC $1,850,000 $7,100,000 283.8% 2.0%
FIRST STATE MORTGAGE SERVICES, LLC $11,790,000 $7,055,000 -40.2% 2.0%
FREEDOM MORTGAGE CORPORATION $6,325,000 $5,965,000 -5.7% 1.7%
PENNYMAC LOAN SERVICES, LLC $1,480,000 $5,675,000 283.4% 1.6%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $3,945,000 $5,560,000 40.9% 1.6%
UNITED WHOLESALE MORTGAGE, LLC $2,785,000 $5,105,000 83.3% 1.4%
JPMorgan Chase Bank $640,000 $4,405,000 588.3% 1.2%
Bell Bank $5,885,000 $4,335,000 -26.3% 1.2%
Mortgage Research Center, LLC $3,030,000 $4,090,000 35.0% 1.2%
American Bank of the North $15,500,000 $4,005,000 -74.2% 1.1%
Tradition Mortgage, LLC $2,220,000 $3,345,000 50.7% 0.9%
Servion, Inc. $1,460,000 $3,315,000 127.1% 0.9%
AMERISAVE MORTGAGE CORPORATION $1,410,000 $2,605,000 84.8% 0.7%
BROKER SOLUTIONS, INC. $2,620,000 $2,480,000 -5.3% 0.7%
WINGS FINANCIAL $1,705,000 $2,480,000 45.5% 0.7%
TRUSTONE FINANCIAL FEDERAL CREDIT UNION $1,690,000 $2,470,000 46.2% 0.7%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $1,135,000 $2,275,000 100.4% 0.6%
Alerus Financial $2,180,000 $2,190,000 0.5% 0.6%
Frandsen Bank & Trust $2,860,000 $1,720,000 -39.9% 0.5%
CMG MORTGAGE, INC. $720,000 $1,645,000 128.5% 0.5%
GUARANTEED RATE, INC. $1,820,000 $1,570,000 -13.7% 0.4%
NAVY FEDERAL CREDIT UNION $315,000 $1,530,000 385.7% 0.4%
Cambria Financial Group, LLC $2,620,000 $1,490,000 -43.1% 0.4%
Bremer Bank $1,515,000 $1,450,000 -4.3% 0.4%
HIWAY $1,425,000 n/a 0.4%
MANN FINANCIAL INC. $540,000 $1,425,000 163.9% 0.4%
COMPEER FINANCIAL, FLCA $795,000 $1,385,000 74.2% 0.4%
BAY EQUITY LLC $400,000 $1,345,000 236.3% 0.4%
LAKEVIEW LOAN SERVICING, LLC $1,210,000 $1,310,000 8.3% 0.4%
NEWREZ LLC $535,000 $1,310,000 144.9% 0.4%
Mr. Cooper ( Nationstar Mortgage ) $1,150,000 $1,255,000 9.1% 0.4%
National Bank of Commerce $1,640,000 $1,230,000 -25.0% 0.3%
Barrington Bank & Trust Company, N.A. $420,000 $1,215,000 189.3% 0.3%
Morgan Stanley Private Bank $1,210,000 n/a 0.3%
CRESCENT MORTGAGE COMPANY $1,075,000 $1,195,000 11.2% 0.3%
Citibank $1,185,000 n/a 0.3%
Lend Smart Mortgage, LLC $1,185,000 $1,185,000 0.0% 0.3%
Hometown Lenders, Inc. $1,095,000 n/a 0.3%
LEADERONE FINANCIAL CORPORATION $2,720,000 $1,095,000 -59.7% 0.3%
Baxter Credit Union $460,000 $1,080,000 134.8% 0.3%
Merchants Bank $910,000 $1,080,000 18.7% 0.3%
North Shore Bank of Commerce $650,000 $1,050,000 61.5% 0.3%
CALIBER HOME LOANS, INC. $865,000 $1,045,000 20.8% 0.3%
American Mortgage & Equity Consultants, Inc. $3,785,000 $1,030,000 -72.8% 0.3%
AMERICAN FINANCIAL NETWORK, INC. $1,585,000 $1,020,000 -35.6% 0.3%
NORTH STAR CREDIT UNION $860,000 $1,020,000 18.6% 0.3%
GUARANTY HOME MORTGAGE CORPORATION $1,015,000 n/a 0.3%
First Bank & Trust $1,010,000 n/a 0.3%
USAA Federal Savings Bank $770,000 $995,000 29.2% 0.3%
GUILD MORTGAGE COMPANY $135,000 $980,000 625.9% 0.3%
Prosperity Home Mortgage, LLC $1,125,000 $895,000 -20.4% 0.3%
NEW DAY FINANCIAL, LLC $2,035,000 $885,000 -56.5% 0.2%
The Huntington National Bank $880,000 n/a 0.2%
BETTER MORTGAGE CORPORATION $830,000 n/a 0.2%
TCF National Bank $185,000 $755,000 308.1% 0.2%
SPIRE Credit Union $750,000 n/a 0.2%
AmeriHome Mortgage Company, LLC $145,000 $720,000 396.6% 0.2%
HOME POINT FINANCIAL CORPORATION $630,000 $715,000 13.5% 0.2%
CHERRY CREEK MORTGAGE, LLC $160,000 $705,000 340.6% 0.2%
KS StateBank $730,000 $705,000 -3.4% 0.2%
Stifel Bank and Trust $800,000 $700,000 -12.5% 0.2%
CORTRUST MORTGAGE, INC. $680,000 n/a 0.2%
AMERICAN FINANCING CORPORATION $705,000 $660,000 -6.4% 0.2%
Associated Bank $660,000 n/a 0.2%
CHURCHILL MORTGAGE CORPORATION $580,000 $655,000 12.9% 0.2%
Royal Credit Union $320,000 $640,000 100.0% 0.2%
Strong Home Mortgage, LLC $600,000 n/a 0.2%
Summit Mortgage Corporation $345,000 $565,000 63.8% 0.2%
EVERETT FINANCIAL, INC. $7,905,000 $560,000 -92.9% 0.2%
ALTRA $550,000 n/a 0.2%
Carrington Mortgage Services, LLC $610,000 $550,000 -9.8% 0.2%
MOVEMENT MORTGAGE, LLC $125,000 $545,000 336.0% 0.2%
NOVATION CREDIT UNION $545,000 n/a 0.2%
STEARNS LENDING, LLC $420,000 $545,000 29.8% 0.2%
Harbor Pointe Credit Union $55,000 $540,000 881.8% 0.2%
Citizens Bank $245,000 $535,000 118.4% 0.2%
American National Bank of Minnesota $1,355,000 $520,000 -61.6% 0.1%
HANCOCK MORTGAGE PARTNERS, LLC $390,000 $520,000 33.3% 0.1%
Goldwater Bank, N.A. $1,005,000 $515,000 -48.8% 0.1%
SOFI LENDING CORP. $515,000 n/a 0.1%
The Miners National Bank of Eveleth $370,000 $515,000 39.2% 0.1%
First State Bank and Trust $185,000 $510,000 175.7% 0.1%
Lake Area Bank $645,000 $505,000 -21.7% 0.1%
First Guaranty Mortgage Corporation $505,000 $500,000 -1.0% 0.1%
InterContinental Capital Group, Inc $460,000 n/a 0.1%
VILLAGE CAPITAL & INVESTMENT LLC $105,000 $440,000 319.0% 0.1%
First Federal Bank $400,000 $435,000 8.8% 0.1%
PRIMELENDING, A PLAINSCAPITAL COMPANY $255,000 $430,000 68.6% 0.1%
IOWA BANKERS MORTGAGE CORPORATION $365,000 $425,000 16.4% 0.1%
HOMEBRIDGE FINANCIAL SERVICES, INC. $420,000 $400,000 -4.8% 0.1%
AMERICAN INTERNET MORTGAGE, INC. $390,000 n/a 0.1%
AXIA FINANCIAL, LLC $390,000 n/a 0.1%
UNION HOME MORTGAGE CORP. $390,000 n/a 0.1%
ST. CLOUD FINANCIAL $370,000 n/a 0.1%
TOTAL MORTGAGE SERVICES, LLC $355,000 n/a 0.1%
Waterstone Mortgage Corporation $350,000 n/a 0.1%
ZILLOW HOME LOANS, LLC $330,000 n/a 0.1%
PROVIDENT FUNDING ASSOCIATES, L.P. $320,000 n/a 0.1%
CONTOUR MORTGAGE CORPORATION $315,000 n/a 0.1%
Paramount Residential Mortgage Group, Inc. $315,000 n/a 0.1%
Bank of America $310,000 n/a 0.1%
American Heritage National Bank $305,000 n/a 0.1%
Columbia State Bank $305,000 n/a 0.1%
FAY SERVICING, LLC $305,000 n/a 0.1%
HomeTown Bank $135,000 $305,000 125.9% 0.1%
NBKC BANK $895,000 $305,000 -65.9% 0.1%
HOMESTEAD FUNDING CORP. $285,000 n/a 0.1%
Magnolia Bank $455,000 $285,000 -37.4% 0.1%
PHH Mortgage Corporation $165,000 $275,000 66.7% 0.1%
ACCELERATE MORTGAGE, LLC $265,000 n/a 0.1%
Choice Financial Group $425,000 $265,000 -37.6% 0.1%
Liberty Bank Minnesota $155,000 $265,000 71.0% 0.1%
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $85,000 $260,000 205.9% 0.1%
NBH Bank $255,000 n/a 0.1%
Woodlands National Bank $445,000 $250,000 -43.8% 0.1%
ACADEMY MORTGAGE CORPORATION $205,000 $245,000 19.5% 0.1%
Axos Bank $245,000 n/a 0.1%
INTELLILOAN, INC. $245,000 n/a 0.1%
St. Paul Federal Credit Union $195,000 $245,000 25.6% 0.1%
First International Bank & Trust $325,000 $235,000 -27.7% 0.1%
MidWestOne Bank $235,000 n/a 0.1%
North American Savings Bank, F.S.B. $235,000 n/a 0.1%
SOUTHPOINT FINANCIAL $235,000 n/a 0.1%
Sunrise Banks $285,000 $235,000 -17.5% 0.1%
EMBRACE HOME LOANS, INC. $230,000 n/a 0.1%
First Western Bank & Trust $115,000 $225,000 95.7% 0.1%
VALLEY MORTGAGE, INC. $215,000 n/a 0.1%
THRIVENT Federal Credit Union $205,000 n/a 0.1%
HOMEOWNERS FINANCIAL GROUP USA, LLC $200,000 n/a 0.1%
Citizens Alliance Bank $125,000 $195,000 56.0% 0.1%
GUARANTEED RATE AFFINITY, LLC $195,000 $195,000 0.0% 0.1%
Ixonia Bank $195,000 n/a 0.1%
Liberty Savings Bank, F.S.B. $515,000 $195,000 -62.1% 0.1%
Nations Lending Corporation $195,000 n/a 0.1%
The Union Bank Company $195,000 n/a 0.1%
CoVantage Credit Union $185,000 n/a 0.1%
Gate City Bank $185,000 $185,000 0.0% 0.1%
Neighborhood National Bank $55,000 $185,000 236.4% 0.1%
BLUELEAF LENDING, LLC $175,000 n/a 0.0%
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $165,000 n/a 0.0%
MEGASTAR FINANCIAL CORP. $115,000 $165,000 43.5% 0.0%
RESULTS MORTGAGE, LLC $385,000 $165,000 -57.1% 0.0%
AMERICAN PACIFIC MORTGAGE CORPORATION $155,000 n/a 0.0%
Community State Bank $155,000 n/a 0.0%
First Federal Bank of Kansas City $225,000 $155,000 -31.1% 0.0%
Old National Bank $115,000 $155,000 34.8% 0.0%
South Metro Federal Credit Union $155,000 n/a 0.0%
SUN WEST MORTGAGE COMPANY, INC. $350,000 $155,000 -55.7% 0.0%
TOWNE MORTGAGE COMPANY $175,000 $155,000 -11.4% 0.0%
PNC Bank $965,000 $140,000 -85.5% 0.0%
COMPASS MORTGAGE, INC. $135,000 n/a 0.0%
Manufacturers and Traders Trust Company $135,000 n/a 0.0%
Manufacturers Bank & Trust Company $135,000 n/a 0.0%
ROYAL UNITED MORTGAGE LLC $170,000 $130,000 -23.5% 0.0%
Bank of Springfield $125,000 n/a 0.0%
MINNCO CREDIT UNION $125,000 n/a 0.0%
PENTAGON FEDERAL CREDIT UNION $125,000 n/a 0.0%
CENTRAL MINNESOTA Credit Union $4,240,000 $115,000 -97.3% 0.0%
RELIANCE FIRST CAPITAL, LLC $115,000 n/a 0.0%
Bank of England $620,000 $105,000 -83.1% 0.0%
CCM Finance, LLC $105,000 n/a 0.0%
PLAZA HOME MORTGAGE, INC. $195,000 $105,000 -46.2% 0.0%
Northpointe Bank $235,000 $95,000 -59.6% 0.0%
Figure Lending LLC $35,000 $90,000 157.1% 0.0%
LENOX FINANCIAL MORTGAGE CORPORATION $85,000 n/a 0.0%
Low VA Rates, LLC $85,000 n/a 0.0%
Bank Forward $360,000 $75,000 -79.2% 0.0%
Discover Bank $65,000 n/a 0.0%
NORTHWOODS $65,000 n/a 0.0%
QUORUM FEDERAL CREDIT UNION $65,000 n/a 0.0%
Sierra Pacific Mortgage Company, Inc. $65,000 n/a 0.0%
BMO Harris Bank $370,000 $25,000 -93.2% 0.0%
Home Loan Investment Bank, F.S.B. $25,000 n/a 0.0%

Grand Rapids's top lender by overall market share is AFFINITY PLUS, with 13.8% market share. In second place, with 7.5%, is Wells Fargo Bank, having originated $26,565,000 in loans. In third place, with 6.8%, is QUICKEN LOANS, LLC, having originated $24,190,000 in loans. In third place, with 6.6%, is MEMBERS COOPERATIVE, having originated $23,290,000 in loans. In third place, with 5.6%, is Deerwood Bank, having originated $19,760,000 in loans.


Grand Rapids, MN Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 668 $141,910,000 $212,440
Refi 609 $118,605,000 $194,754
Cash Out Refi 556 $86,320,000 $155,252
Home Improvement 31 $3,345,000 $107,903
Other 22 $4,930,000 $224,091

Grand Rapids's most frequently cited loan purpose was Home Purchase, with 668 originations. The 2nd most popular reason was Refi, with 609 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
2.5-3% 652 $136,900,000 $209,969
3-4% 598 $119,530,000 $199,883
<2.5% 496 $82,620,000 $166,573
4-5% 64 $8,110,000 $126,719
5-6% 29 $2,075,000 $71,552
7-8% 10 $520,000 $52,000
6-7% 3 $245,000 $81,667
Over 8% 3 $195,000 $65,000

During 2021, Grand Rapids's most frequently originated rate bucket was 2.5-3%, with 652 originations.

Loan Sizing (Grand Rapids, MN MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 806 $120,590,000 $149,615
$200k-400k 564 $150,130,000 $266,188
$100,000 or less 417 $26,995,000 $64,736
$400k-600k 78 $36,950,000 $473,718
$600k-1000k 14 $11,050,000 $789,286
$Over $1MM 7 $9,395,000 $1,342,143

Grand Rapids's loan sizing saw the bucket of loans from $100k-200k with 806 originations, totaling $120,590,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 639 $134,775,000 $210,915
60-80% 612 $133,630,000 $218,350
40-60% 288 $49,560,000 $172,083
20-40% 152 $15,210,000 $100,066
Under 20% 101 $3,985,000 $39,455
Over 100% 19 $5,125,000 $269,737

Grand Rapids's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 639 originations, totaling $134,775,000 in origination value.