Houghton Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Houghton averaged 7.12% 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 7.35% and one month ago for the week of 2025-05-15, the average rate was 6.92%.

Houghton's average rate one year ago was 7.16%.

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%
Houghton 30 Year Fixed Rate 2025-06-18 7.12%
Houghton 30 Year Fixed Rate Refi 2025-06-18 7.01%
Houghton 15 Year Fixed Rate 2025-06-18 6.06%
Houghton 15 Year Fixed Rate Refi 2025-06-18 6.36%
Houghton 30 Year FHA 2025-06-18 -0.1%
Houghton 30 Year FHA Refi 2025-06-18 -0.2%
Houghton 30 Year USDA 2025-06-18 0.2%
Houghton 30 Year USDA Refi 2025-06-18 0%
Houghton 30 Year VA 2025-06-18 0.1%
Houghton 30 Year VA Refi 2025-06-18 0.1%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Houghton, MI.

Houghton 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 Houghton, 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
IncredibleBank 24 6.71% $2,892
QUICKEN LOANS, LLC 19 6.71% $6,167
Flagstar Bank, FSB 6 6.65% $3,335
NAVY FEDERAL CREDIT UNION 5 6.93% $4,194
JPMorgan Chase Bank 4 7.19% $4,428
U.S. Bank 3 7.04% $4,203
CMG MORTGAGE, INC. 3 6.54% $5,942
Wells Fargo Bank 3 6.54% $4,393
ROYAL UNITED MORTGAGE LLC 3 7.25% $7,027
UNITED WHOLESALE MORTGAGE, LLC 2 6.31% $5,015
MORTGAGE CENTER L.C 2 6.50% $4,198
Mr. Cooper ( Nationstar Mortgage ) 2 7.50% $4,047
BROKER SOLUTIONS, INC. 2 7.00% $4,603
MYCUMORTGAGE, LLC 2 6.50% $4,045
Peoples State Bank 2 6.44% $2,035
Honor Credit Union 2 6.63% $2,934
COMMUNITY FINANCIAL CREDIT UNION 2 6.50% $3,574
LOANDEPOT.COM, LLC 2 6.06% $7,858
Royal Credit Union 1 6.38% $3,152
The Huntington National Bank 1 6.25% $2,856
UNION HOME MORTGAGE CORP. 1 7.50% $4,045
University Bank 1 7.00% $4,686
USAA Federal Savings Bank 1 6.13% $4,004
VAN DYK MORTGAGE CORPORATION 1 8.13% $2,441
ALLIANT CREDIT UNION 1 6.13% $3,182
ZILLOW HOME LOANS, LLC 1 5.88% $2,466
AUSTIN TELCO Federal Credit Union 1 6.50% $7,158
Bank Five Nine 1 7.00% $2,720
Bell Bank 1 6.38% $9,906
CHURCHILL MORTGAGE CORPORATION 1 6.63% $5,186
CORTRUST MORTGAGE, INC. 1 6.75% $3,884
DFCU FINANCIAL 1 6.50% $3,465
DOW CHEMICAL EMPLOYEES' 1 8.25% $3,827
First Merchants Bank 1 6.63% $3,022
GENISYS 1 7.13% $3,965
GUARANTEED RATE, INC. 1 7.13% $5,462
Independent Bank 1 6.88% $3,681
LAKE MICHIGAN CREDIT UNION 1 5.75% $3,451
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.63% $6,291
Nicolet National Bank 1 6.63% $2,441
Paramount Bank 1 6.38% $1,896
PENNYMAC LOAN SERVICES, LLC 1 8.00% $6,553
PENTAGON FEDERAL CREDIT UNION 1 7.00% $3,072

Houghton Average Closing Costs & Other Stats

Houghton, MI's 43 lenders originated 465 loans during 2024. The total origination value was $85,855,000, with an average loan value of $184,634.

Houghton's average closing costs are $3,498.

The top Houghton lender as defined by loan originations is IncredibleBank, with 24 loans originated. Their average total fees are $2,892, which is $3,275 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Houghton lenders (with over 10 loans originated) are IncredibleBank ($2,892), QUICKEN LOANS, LLC ($6,167), .

The lowest rate Houghton lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.71%), IncredibleBank (6.71%), .

Houghton, 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
Range Bank $16,045,000 $15,220,000 -5.1% 17.7%
IncredibleBank $5,195,000 $9,665,000 86.0% 11.3%
QUICKEN LOANS, LLC $6,505,000 $7,990,000 22.8% 9.3%
NAVY FEDERAL CREDIT UNION $935,000 $2,130,000 127.8% 2.5%
UNITED WHOLESALE MORTGAGE, LLC $1,630,000 $1,965,000 20.6% 2.3%
U.S. Bank $190,000 $1,510,000 694.7% 1.8%
Flagstar Bank, FSB $1,045,000 $1,465,000 40.2% 1.7%
FREEDOM MORTGAGE CORPORATION $600,000 $1,420,000 136.7% 1.7%
JPMorgan Chase Bank $1,225,000 $1,310,000 6.9% 1.5%
Mortgage Research Center, LLC $2,430,000 $1,265,000 -47.9% 1.5%
The Huntington National Bank $1,800,000 $1,225,000 -31.9% 1.4%
Peoples State Bank $1,030,000 n/a 1.2%
LOANDEPOT.COM, LLC $125,000 $970,000 676.0% 1.1%
Wells Fargo Bank $760,000 $970,000 27.6% 1.1%
GUARANTEED RATE, INC. $155,000 $890,000 474.2% 1.0%
DOW CHEMICAL EMPLOYEES' $425,000 $795,000 87.1% 0.9%
Paramount Residential Mortgage Group, Inc. $105,000 $750,000 614.3% 0.9%
Mr. Cooper ( Nationstar Mortgage ) $670,000 n/a 0.8%
MORTGAGE CENTER L.C $480,000 $650,000 35.4% 0.8%
PENNYMAC LOAN SERVICES, LLC $65,000 $605,000 830.8% 0.7%
PNC Bank $105,000 $575,000 447.6% 0.7%
CoVantage Credit Union $685,000 $555,000 -19.0% 0.6%
CMG MORTGAGE, INC. $230,000 $515,000 123.9% 0.6%
Carrington Mortgage Services, LLC $95,000 $500,000 426.3% 0.6%
MMS MORTGAGE SERVICES, LTD. $500,000 n/a 0.6%
Honor Credit Union $655,000 $465,000 -29.0% 0.5%
ROYAL UNITED MORTGAGE LLC $465,000 n/a 0.5%
National Bank of Commerce $455,000 n/a 0.5%
Macatawa Bank $435,000 n/a 0.5%
UNION HOME MORTGAGE CORP. $215,000 $420,000 95.3% 0.5%
COMMUNITY FINANCIAL CREDIT UNION $410,000 n/a 0.5%
United Bank of Michigan $385,000 n/a 0.4%
Independent Bank $345,000 n/a 0.4%
BROKER SOLUTIONS, INC. $535,000 $330,000 -38.3% 0.4%
AUSTIN TELCO Federal Credit Union $315,000 n/a 0.4%
CROSSCOUNTRY MORTGAGE, LLC $95,000 $310,000 226.3% 0.4%
Bell Bank $305,000 n/a 0.4%
CHURCHILL MORTGAGE CORPORATION $195,000 $290,000 48.7% 0.3%
University Bank $290,000 n/a 0.3%
LAKE MICHIGAN CREDIT UNION $840,000 $280,000 -66.7% 0.3%
Nicolet National Bank $275,000 $280,000 1.8% 0.3%
USAA Federal Savings Bank $610,000 $270,000 -55.7% 0.3%
PLANET HOME LENDING, LLC $255,000 n/a 0.3%
MYCUMORTGAGE, LLC $250,000 n/a 0.3%
Bethpage Federal Credit Union $245,000 n/a 0.3%
ALLIANT CREDIT UNION $235,000 n/a 0.3%
MID AMERICA MORTGAGE, INC. $235,000 n/a 0.3%
Frankenmuth Credit Union $205,000 n/a 0.2%
MUTUAL OF OMAHA MORTGAGE, INC. $260,000 $205,000 -21.2% 0.2%
GENISYS $195,000 n/a 0.2%
AMERISAVE MORTGAGE CORPORATION $660,000 $190,000 -71.2% 0.2%
Bank Five Nine $185,000 n/a 0.2%
Fifth Third Bank $185,000 n/a 0.2%
NEWREZ LLC $170,000 $185,000 8.8% 0.2%
LIMA ONE CAPITAL, LLC $105,000 $175,000 66.7% 0.2%
VILLAGE CAPITAL MORTGAGE $175,000 n/a 0.2%
CORTRUST MORTGAGE, INC. $155,000 n/a 0.2%
VAN DYK MORTGAGE CORPORATION $155,000 n/a 0.2%
ZILLOW HOME LOANS, LLC $180,000 $155,000 -13.9% 0.2%
Figure Lending LLC $50,000 $150,000 200.0% 0.2%
HOMESITE MORTGAGE, LLC $145,000 n/a 0.2%
Adventure Credit Union $135,000 n/a 0.2%
MORTGAGE 1 INCORPORATED $135,000 n/a 0.2%
WINGS FINANCIAL $130,000 n/a 0.2%
First Merchants Bank $125,000 n/a 0.1%
PENTAGON FEDERAL CREDIT UNION $125,000 n/a 0.1%
Royal Credit Union $125,000 n/a 0.1%
AMERICAN FINANCING CORPORATION $55,000 $115,000 109.1% 0.1%
Citizens Bank $265,000 $105,000 -60.4% 0.1%
DFCU FINANCIAL $105,000 n/a 0.1%
FINANCE OF AMERICA REVERSE LLC $85,000 n/a 0.1%
Paramount Bank $85,000 n/a 0.1%
Coastal Community Bank $80,000 n/a 0.1%
Equity Prime Mortgage LLC $75,000 n/a 0.1%
GreenStone Farm Credit Services, FLCA $1,160,000 $75,000 -93.5% 0.1%
BMO Harris Bank $55,000 n/a 0.1%
CREDIT UNION ONE $45,000 $55,000 22.2% 0.1%
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $165,000 $55,000 -66.7% 0.1%
Discover Bank $185,000 $35,000 -81.1% 0.0%
The Stephenson National Bank and Trust $35,000 n/a 0.0%

Houghton's top lender by overall market share is Range Bank, with 17.7% market share. In second place, with 11.3%, is IncredibleBank, having originated $9,665,000 in loans. In third place, with 9.3%, is QUICKEN LOANS, LLC, having originated $7,990,000 in loans. In fourth place, with 2.5%, is NAVY FEDERAL CREDIT UNION, having originated $2,130,000 in loans. In fifth place, with 2.3%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $1,965,000 in loans.

Houghton, MI Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 281 $59,255,000 $210,872
Cash Out Refi 59 $9,305,000 $157,712
Other 50 $3,690,000 $73,800
Refi 49 $9,775,000 $199,490
Home Improvement 26 $3,830,000 $147,308

Houghton's most frequently cited loan purpose was Home Purchase, with 281 originations. The 2nd most popular reason was Cash Out Refi, with 59 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 157 $30,605,000 $194,936
Over 8% 95 $12,775,000 $134,474
7-8% 83 $16,605,000 $200,060
5-6% 44 $9,780,000 $222,273
<2.5% 1 $15,000 $15,000

During 2024, Houghton's most frequently originated rate bucket was 6-7%, with 157 originations.

Loan Sizing (Houghton, MI MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 175 $25,805,000 $147,457
$100,000 or less 148 $9,470,000 $63,986
$200k-400k 103 $28,725,000 $278,883
$400k-600k 25 $12,135,000 $485,400
$600k-1000k 14 $9,720,000 $694,286

Houghton's loan sizing saw the bucket of loans from $100k-200k with 175 originations, totaling $25,805,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 158 $29,800,000 $188,608
60-80% 110 $25,740,000 $234,000
20-40% 42 $3,750,000 $89,286
40-60% 41 $7,515,000 $183,293
Under 20% 21 $805,000 $38,333
Over 100% 3 $1,095,000 $365,000

Houghton's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 158 originations, totaling $29,800,000 in origination value.