Houghton Mortgage Rates & Closing Costs
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% |
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.).
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.