Houghton Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Houghton averaged
6.52%
for the week of 2024-10-03, compared to the national average of
6.12% for the same period.
The average rate for the prior week (2024-09-26) was
6.38% and
one month ago for the week of 2024-08-29, the
average rate was 6.65%.
Houghton's average rate one year ago was 7.41%.
For refis of the same type during the week of 2024-10-03, the average rate
was 6.32%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-03 | 6.12% |
Houghton 30 Year Fixed Rate | 2024-10-03 | 6.52% |
Houghton 30 Year Fixed Rate Refi | 2024-10-03 | 6.32% |
Houghton 15 Year Fixed Rate | 2024-10-03 | 5.45% |
Houghton 15 Year Fixed Rate Refi | 2024-10-03 | 5.65% |
Houghton 30 Year FHA | 2024-10-03 | 5.99% |
Houghton 30 Year FHA Refi | 2024-10-03 | 5.99% |
Houghton 30 Year USDA | 2024-10-03 | 5.97% |
Houghton 30 Year USDA Refi | 2024-10-03 | 5.87% |
Houghton 30 Year VA | 2024-10-03 | 5.8% |
Houghton 30 Year VA Refi | 2024-10-03 | 5.8% |
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 47 lenders originated 462
loans during 2023. The total origination value was $78,250,000, with an average loan value of
$169,372.
Houghton's average closing costs are $3,376.
The top Houghton lender as defined by loan originations is Range Bank, with
39 loans originated. Their average total fees are
$2,463, which is $3,537
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Houghton lenders (with over 10 loans originated) are
Range Bank ($2,463), IncredibleBank ($2,852), QUICKEN LOANS, LLC ($6,000), .
The lowest rate Houghton lenders (with over 10 loans originated) are
Range Bank (6.81%), QUICKEN LOANS, LLC (6.98%), IncredibleBank (7.14%), .
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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
---|---|---|---|---|
Range Bank | $17,470,000 | $16,045,000 | -8.2% | 20.5% |
QUICKEN LOANS, LLC | $8,250,000 | $6,505,000 | -21.2% | 8.3% |
IncredibleBank | $8,345,000 | $5,195,000 | -37.7% | 6.6% |
Mortgage Research Center, LLC | $1,180,000 | $2,430,000 | 105.9% | 3.1% |
The Huntington National Bank | $2,375,000 | $1,800,000 | -24.2% | 2.3% |
UNITED WHOLESALE MORTGAGE, LLC | $1,790,000 | $1,630,000 | -8.9% | 2.1% |
JPMorgan Chase Bank | $530,000 | $1,225,000 | 131.1% | 1.6% |
GreenStone Farm Credit Services, FLCA | $535,000 | $1,160,000 | 116.8% | 1.5% |
Flagstar Bank, FSB | $2,285,000 | $1,045,000 | -54.3% | 1.3% |
NAVY FEDERAL CREDIT UNION | $890,000 | $935,000 | 5.1% | 1.2% |
LAKE MICHIGAN CREDIT UNION | $870,000 | $840,000 | -3.4% | 1.1% |
Wells Fargo Bank | $4,085,000 | $760,000 | -81.4% | 1.0% |
CoVantage Credit Union | $25,000 | $685,000 | 2,640.0% | 0.9% |
Associated Bank | $445,000 | $670,000 | 50.6% | 0.9% |
AMERISAVE MORTGAGE CORPORATION | $660,000 | n/a | 0.8% | |
Honor Credit Union | $205,000 | $655,000 | 219.5% | 0.8% |
USAA Federal Savings Bank | $705,000 | $610,000 | -13.5% | 0.8% |
FREEDOM MORTGAGE CORPORATION | $325,000 | $600,000 | 84.6% | 0.8% |
BROKER SOLUTIONS, INC. | $95,000 | $535,000 | 463.2% | 0.7% |
NEXERA HOLDING LLC | $485,000 | n/a | 0.6% | |
MORTGAGE CENTER L.C | $110,000 | $480,000 | 336.4% | 0.6% |
BETTER MORTGAGE CORPORATION | $580,000 | $435,000 | -25.0% | 0.6% |
DOW CHEMICAL EMPLOYEES' | $75,000 | $425,000 | 466.7% | 0.5% |
J. VIRGIL, INC. | $365,000 | n/a | 0.5% | |
Atlantic Coast Mortgage, LLC | $325,000 | n/a | 0.4% | |
PURDUE FEDERAL CREDIT UNION | $325,000 | n/a | 0.4% | |
IVY MORTGAGE, INC. | $305,000 | n/a | 0.4% | |
RIVER VALLEY CREDIT UNION | $295,000 | n/a | 0.4% | |
Nicolet National Bank | $860,000 | $275,000 | -68.0% | 0.4% |
Citizens Bank | $210,000 | $265,000 | 26.2% | 0.3% |
MICHIGAN FIRST CREDIT UNION | $265,000 | n/a | 0.3% | |
MUTUAL OF OMAHA MORTGAGE, INC. | $260,000 | n/a | 0.3% | |
NEW DAY FINANCIAL, LLC | $175,000 | $235,000 | 34.3% | 0.3% |
CMG MORTGAGE, INC. | $230,000 | n/a | 0.3% | |
UNION HOME MORTGAGE CORP. | $125,000 | $215,000 | 72.0% | 0.3% |
FOUNDATION MORTGAGE CORPORATION | $205,000 | n/a | 0.3% | |
PROPER RATE, LLC | $205,000 | n/a | 0.3% | |
CHURCHILL MORTGAGE CORPORATION | $75,000 | $195,000 | 160.0% | 0.2% |
U.S. Bank | $450,000 | $190,000 | -57.8% | 0.2% |
Discover Bank | $80,000 | $185,000 | 131.3% | 0.2% |
OAK MORTGAGE, LLC | $185,000 | n/a | 0.2% | |
ZILLOW HOME LOANS, LLC | $245,000 | $180,000 | -26.5% | 0.2% |
Ally Bank | $135,000 | $175,000 | 29.6% | 0.2% |
Quontic Bank | $175,000 | n/a | 0.2% | |
NEWREZ LLC | $170,000 | n/a | 0.2% | |
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $295,000 | $165,000 | -44.1% | 0.2% |
TOWER | $165,000 | n/a | 0.2% | |
GUARANTEED RATE, INC. | $465,000 | $155,000 | -66.7% | 0.2% |
HOMEBRIDGE FINANCIAL SERVICES, INC. | $700,000 | $145,000 | -79.3% | 0.2% |
LOANDEPOT.COM, LLC | $920,000 | $125,000 | -86.4% | 0.2% |
First Federal Bank | $115,000 | n/a | 0.1% | |
TEAM ONE CREDIT UNION | $115,000 | n/a | 0.1% | |
Barrington Bank & Trust Company, N.A. | $55,000 | $105,000 | 90.9% | 0.1% |
Deere Employees Credit Union | $105,000 | n/a | 0.1% | |
LIMA ONE CAPITAL, LLC | $115,000 | $105,000 | -8.7% | 0.1% |
Paramount Residential Mortgage Group, Inc. | $105,000 | n/a | 0.1% | |
PNC Bank | $330,000 | $105,000 | -68.2% | 0.1% |
Carrington Mortgage Services, LLC | $95,000 | n/a | 0.1% | |
CROSSCOUNTRY MORTGAGE, LLC | $530,000 | $95,000 | -82.1% | 0.1% |
FINANCIAL PLUS CREDIT UNION | $85,000 | n/a | 0.1% | |
PHH Mortgage Corporation | $65,000 | $85,000 | 30.8% | 0.1% |
S1L, Inc. | $85,000 | n/a | 0.1% | |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $195,000 | $75,000 | -61.5% | 0.1% |
PREMIER MORTGAGE RESOURCES, L.L.C. | $75,000 | n/a | 0.1% | |
Summit Credit Union | $75,000 | n/a | 0.1% | |
PENNYMAC LOAN SERVICES, LLC | $305,000 | $65,000 | -78.7% | 0.1% |
AMERICAN FINANCING CORPORATION | $55,000 | n/a | 0.1% | |
Figure Lending LLC | $65,000 | $50,000 | -23.1% | 0.1% |
CREDIT UNION ONE | $45,000 | n/a | 0.1% | |
Bank of America | $115,000 | $25,000 | -78.3% | 0.0% |
Houghton's top lender by overall market share is Range Bank, with 20.5% market share. In second place, with 8.3%, is QUICKEN LOANS, LLC, having originated $6,505,000 in loans. In third place, with 6.6%, is IncredibleBank, having originated $5,195,000 in loans. In fourth place, with 3.1%, is Mortgage Research Center, LLC, having originated $2,430,000 in loans. In fifth place, with 2.3%, is The Huntington National Bank, having originated $1,800,000 in loans.
Houghton Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Houghton (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $119,975 (7.6%) | $188,822 (17.7%) | 0.00 | 174 |
2018-02-01 | $124,375 (12.4%) | $191,157 (20.2%) | 0.00 | 170 |
2018-03-01 | $142,450 (19.0%) | $205,596 (30.3%) | 0.00 | 170 |
2018-04-01 | $152,675 (13.2%) | $224,633 (28.8%) | 0.00 | 165 |
2018-05-01 | $153,450 (-3.2%) | $223,789 (12.8%) | 0.00 | 183 |
2018-06-01 | $155,000 (8.5%) | $214,782 (8.0%) | 0.00 | 247 |
2018-07-01 | $153,950 (10.0%) | $207,572 (4.1%) | 0.00 | 260 |
2018-08-01 | $147,500 (6.1%) | $203,458 (1.8%) | 0.00 | 264 |
2018-09-01 | $134,950 (3.9%) | $191,065 (-0.4%) | 0.00 | 253 |
2018-10-01 | $134,900 (-0.8%) | $189,905 (-2.9%) | 0.00 | 228 |
2018-11-01 | $137,975 (-0.9%) | $197,870 (-1.6%) | 0.00 | 195 |
2018-12-01 | $140,950 (10.6%) | $199,707 (3.7%) | 0.00 | 167 |
2019-01-01 | $131,250 (9.4%) | $198,650 (5.2%) | 0.00 | 136 |
2019-02-01 | $130,750 (5.1%) | $203,706 (6.6%) | 0.00 | 127 |
2019-03-01 | $152,043 (6.7%) | $223,317 (8.6%) | 0.00 | 124 |
2019-04-01 | $172,400 (12.9%) | $231,191 (2.9%) | 0.00 | 127 |
2019-05-01 | $163,175 (6.3%) | $230,798 (3.1%) | 0.00 | 172 |
2019-06-01 | $179,000 (15.5%) | $227,164 (5.8%) | 0.00 | 214 |
2019-07-01 | $165,075 (7.2%) | $212,059 (2.2%) | 0.00 | 241 |
2019-08-01 | $156,600 (6.2%) | $205,089 (0.8%) | 0.00 | 243 |
2019-09-01 | $152,325 (12.9%) | $199,341 (4.3%) | 0.00 | 241 |
2019-10-01 | $146,950 (8.9%) | $193,118 (1.7%) | 0.00 | 238 |
2019-11-01 | $139,000 (0.7%) | $186,822 (-5.6%) | 0.00 | 207 |
2019-12-01 | $145,075 (2.9%) | $194,571 (-2.6%) | 0.00 | 183 |
2020-01-01 | $148,850 (13.4%) | $193,952 (-2.4%) | 0.00 | 143 |
2020-02-01 | $153,750 (17.6%) | $202,187 (-0.8%) | 0.00 | 126 |
2020-03-01 | $182,000 (19.7%) | $224,898 (0.7%) | 0.00 | 121 |
2020-04-01 | $170,000 (-1.4%) | $220,045 (-4.8%) | 0.00 | 126 |
2020-05-01 | $167,500 (2.7%) | $224,321 (-2.8%) | 0.00 | 131 |
2020-06-01 | $167,125 (-6.6%) | $222,174 (-2.2%) | 0.00 | 143 |
2020-07-01 | $164,950 (-0.1%) | $226,070 (6.6%) | 0.00 | 150 |
2020-08-01 | $167,450 (6.9%) | $224,539 (9.5%) | 0.00 | 142 |
2020-09-01 | $169,000 (11.0%) | $236,115 (18.5%) | 0.00 | 119 |
2020-10-01 | $139,900 (-4.8%) | $237,845 (23.2%) | 0.00 | 91 |
2020-11-01 | $139,000 (0.0%) | $248,014 (32.8%) | 0.00 | 75 |
2020-12-01 | $149,450 (3.0%) | $265,830 (36.6%) | 0.00 | 55 |
2021-01-01 | $137,450 (-7.7%) | $256,662 (32.3%) | 0.00 | 46 |
2021-02-01 | $144,450 (-6.1%) | $290,803 (43.8%) | 0.00 | 41 |
2021-03-01 | $173,850 (-4.5%) | $318,458 (41.6%) | 0.00 | 37 |
2021-04-01 | $164,525 (-3.2%) | $309,376 (40.6%) | 0.00 | 44 |
2021-05-01 | $171,610 (2.5%) | $308,710 (37.6%) | 0.00 | 51 |
2021-06-01 | $163,625 (-2.1%) | $273,068 (22.9%) | 0.00 | 78 |
2021-07-01 | $180,000 (9.1%) | $272,200 (20.4%) | 0.00 | 82 |
2021-08-01 | $162,725 (-2.8%) | $253,190 (12.8%) | 0.00 | 76 |
2021-09-01 | $147,475 (-12.7%) | $237,190 (0.5%) | 0.00 | 68 |
2021-10-01 | $157,000 (12.2%) | $229,631 (-3.5%) | 0.00 | 67 |
2021-11-01 | $150,000 (7.9%) | $285,025 (14.9%) | 0.00 | 54 |
2021-12-01 | $151,000 (1.0%) | $292,740 (10.1%) | 0.00 | 53 |
2022-01-01 | $145,000 (5.5%) | $322,601 (25.7%) | 0.00 | 36 |
2022-02-01 | $182,450 (26.3%) | $463,878 (59.5%) | 0.00 | 18 |
2022-03-01 | $244,700 (40.8%) | $586,496 (84.2%) | 0.00 | 15 |
2022-04-01 | $232,250 (41.2%) | $447,871 (44.8%) | 0.00 | 17 |
2022-05-01 | $186,175 (8.5%) | $410,839 (33.1%) | 0.00 | 23 |
2022-06-01 | $214,500 (31.1%) | $379,879 (39.1%) | 0.00 | 37 |
2022-07-01 | $247,450 (37.5%) | $373,611 (37.3%) | 0.00 | 51 |
2022-08-01 | $252,400 (55.1%) | $357,228 (41.1%) | 0.00 | 57 |
2022-09-01 | $195,950 (32.9%) | $316,628 (33.5%) | 0.00 | 59 |
2022-10-01 | $177,000 (12.7%) | $316,663 (37.9%) | 0.00 | 57 |
2022-11-01 | $195,500 (30.3%) | $329,969 (15.8%) | 0.00 | 49 |
2022-12-01 | $259,900 (72.1%) | $353,161 (20.6%) | 0.00 | 34 |
2023-01-01 | $242,500 (67.2%) | $380,482 (17.9%) | 0.00 | 29 |
2023-02-01 | $261,250 (43.2%) | $302,172 (-34.9%) | 0.00 | 28 |
2023-03-01 | $263,750 (7.8%) | $338,405 (-42.3%) | 0.00 | 32 |
2023-04-01 | $214,000 (-7.9%) | $348,094 (-22.3%) | 0.00 | 35 |
2023-05-01 | $162,350 (-12.8%) | $318,977 (-22.4%) | 0.00 | 38 |
2023-06-01 | $164,700 (-23.2%) | $297,449 (-21.7%) | 0.00 | 48 |
2023-07-01 | $239,000 (-3.4%) | $360,267 (-3.6%) | 0.00 | 54 |
2023-08-01 | $244,000 (-3.3%) | $352,768 (-1.3%) | 0.00 | 65 |
2023-09-01 | $229,000 (16.9%) | $340,048 (7.4%) | 0.00 | 60 |
2023-10-01 | $204,500 (15.5%) | $322,731 (1.9%) | 0.00 | 58 |
2023-11-01 | $190,125 (-2.8%) | $290,733 (-11.9%) | 0.00 | 58 |
2023-12-01 | $178,000 (-31.5%) | $237,303 (-32.8%) | 0.00 | 56 |
2024-01-01 | $167,250 (-31.0%) | $225,335 (-40.8%) | 0.00 | 46 |
2024-02-01 | $167,000 (-36.1%) | $236,219 (-21.8%) | 0.00 | 41 |
2024-03-01 | $169,900 (-35.6%) | $234,152 (-30.8%) | 0.00 | 45 |
2024-04-01 | $186,675 (-12.8%) | $252,923 (-27.3%) | 0.00 | 38 |
2024-05-01 | $239,700 (47.6%) | $323,514 (1.4%) | 0.00 | 46 |
2024-06-01 | $263,950 (60.3%) | $334,466 (12.4%) | 0.00 | 62 |
2024-07-01 | $279,750 (17.1%) | $355,250 (-1.4%) | 0.00 | 86 |
2024-08-01 | $274,900 (12.7%) | $347,147 (-1.6%) | 0.00 | 91 |
2024-09-01 | $232,000 (1.3%) | $322,075 (-5.3%) | 0.00 | 97 |
Houghton's median listing price comes in at 0% of the national average.
Houghton's average listing price for 2024-09-01 was $322,075, a difference of $-17,973 (-5.3%) versus the prior year and $-25,072 versus the prior month.
For the 2024-09-01 period, Houghton had 97 MLS listings, a difference of 6 listings (7%) versus the prior month and 37 listings (62%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Houghton (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,572 sqft |
2018-02-01 | 0 days | 1,568 sqft |
2018-03-01 | 0 days | 1,576 sqft |
2018-04-01 | 0 days | 1,581 sqft |
2018-05-01 | 0 days | 1,566 sqft |
2018-06-01 | 0 days | 1,593 sqft |
2018-07-01 | 0 days | 1,592 sqft |
2018-08-01 | 0 days | 1,579 sqft |
2018-09-01 | 0 days | 1,552 sqft |
2018-10-01 | 0 days | 1,550 sqft |
2018-11-01 | 0 days | 1,540 sqft |
2018-12-01 | 0 days | 1,572 sqft |
2019-01-01 | 0 days | 1,558 sqft |
2019-02-01 | 0 days | 1,578 sqft |
2019-03-01 | 0 days | 1,653 sqft |
2019-04-01 | 0 days | 1,704 sqft |
2019-05-01 | 0 days | 1,693 sqft |
2019-06-01 | 0 days | 1,696 sqft |
2019-07-01 | 0 days | 1,656 sqft |
2019-08-01 | 0 days | 1,665 sqft |
2019-09-01 | 0 days | 1,654 sqft |
2019-10-01 | 0 days | 1,643 sqft |
2019-11-01 | 0 days | 1,649 sqft |
2019-12-01 | 0 days | 1,625 sqft |
2020-01-01 | 0 days | 1,606 sqft |
2020-02-01 | 0 days | 1,588 sqft |
2020-03-01 | 0 days | 1,604 sqft |
2020-04-01 | 0 days | 1,588 sqft |
2020-05-01 | 0 days | 1,672 sqft |
2020-06-01 | 0 days | 1,635 sqft |
2020-07-01 | 0 days | 1,709 sqft |
2020-08-01 | 0 days | 1,672 sqft |
2020-09-01 | 0 days | 1,731 sqft |
2020-10-01 | 0 days | 1,588 sqft |
2020-11-01 | 0 days | 1,537 sqft |
2020-12-01 | 0 days | 1,588 sqft |
2021-01-01 | 0 days | 1,536 sqft |
2021-02-01 | 0 days | 1,575 sqft |
2021-03-01 | 0 days | 1,770 sqft |
2021-04-01 | 0 days | 1,877 sqft |
2021-05-01 | 0 days | 1,861 sqft |
2021-06-01 | 0 days | 1,687 sqft |
2021-07-01 | 0 days | 1,855 sqft |
2021-08-01 | 0 days | 1,810 sqft |
2021-09-01 | 0 days | 1,850 sqft |
2021-10-01 | 0 days | 1,829 sqft |
2021-11-01 | 0 days | 1,827 sqft |
2021-12-01 | 0 days | 1,773 sqft |
2022-01-01 | 0 days | 1,583 sqft |
2022-02-01 | 0 days | 1,468 sqft |
2022-03-01 | 0 days | 1,680 sqft |
2022-04-01 | 0 days | 1,824 sqft |
2022-05-01 | 0 days | 1,628 sqft |
2022-06-01 | 0 days | 1,762 sqft |
2022-07-01 | 0 days | 1,584 sqft |
2022-08-01 | 0 days | 1,737 sqft |
2022-09-01 | 0 days | 1,649 sqft |
2022-10-01 | 0 days | 1,556 sqft |
2022-11-01 | 0 days | 1,624 sqft |
2022-12-01 | 0 days | 1,656 sqft |
2023-01-01 | 0 days | 1,637 sqft |
2023-02-01 | 0 days | 1,653 sqft |
2023-03-01 | 0 days | 1,926 sqft |
2023-04-01 | 0 days | 1,840 sqft |
2023-05-01 | 0 days | 1,702 sqft |
2023-06-01 | 0 days | 1,653 sqft |
2023-07-01 | 0 days | 1,613 sqft |
2023-08-01 | 0 days | 1,438 sqft |
2023-09-01 | 0 days | 1,381 sqft |
2023-10-01 | 0 days | 1,410 sqft |
2023-11-01 | 0 days | 1,379 sqft |
2023-12-01 | 0 days | 1,380 sqft |
2024-01-01 | 0 days | 1,502 sqft |
2024-02-01 | 0 days | 1,446 sqft |
2024-03-01 | 0 days | 1,451 sqft |
2024-04-01 | 0 days | 1,825 sqft |
2024-05-01 | 0 days | 1,859 sqft |
2024-06-01 | 0 days | 1,844 sqft |
2024-07-01 | 0 days | 1,877 sqft |
2024-08-01 | 0 days | 1,880 sqft |
2024-09-01 | 0 days | 1,773 sqft |
Houghton's median square footage for active listings during the 2024-09-01 period was 1,773 sqft. One year prior, the average listing was 1,381 sqft.
Houghton, MI Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 281 | $55,375,000 | $197,064 |
Cash Out Refi | 80 | $10,650,000 | $133,125 |
Home Improvement | 43 | $3,475,000 | $80,814 |
Refi | 35 | $7,155,000 | $204,429 |
Other | 23 | $1,595,000 | $69,348 |
Houghton's most frequently cited loan purpose was Home Purchase, with 281 originations. The 2nd most popular reason was Cash Out Refi, with 80 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 192 | $35,880,000 | $186,875 |
7-8% | 147 | $27,295,000 | $185,680 |
Over 8% | 86 | $9,090,000 | $105,698 |
5-6% | 35 | $5,755,000 | $164,429 |
2.5-3% | 1 | $65,000 | $65,000 |
4-5% | 1 | $165,000 | $165,000 |
During 2023, Houghton's most frequently originated rate bucket was 6-7%, with 192 originations.
Loan Sizing (Houghton, MI MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 173 | $10,695,000 | $61,821 |
$100k-200k | 162 | $22,370,000 | $138,086 |
$200k-400k | 103 | $27,835,000 | $270,243 |
$400k-600k | 16 | $7,590,000 | $474,375 |
$Over $1MM | 5 | $7,755,000 | $1,551,000 |
$600k-1000k | 3 | $2,005,000 | $668,333 |
Houghton's loan sizing saw the bucket of loans from $100,000 or less with 173 originations, totaling $10,695,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 186 | $36,120,000 | $194,194 |
60-80% | 138 | $27,870,000 | $201,957 |
40-60% | 54 | $7,620,000 | $141,111 |
20-40% | 49 | $3,735,000 | $76,224 |
Under 20% | 30 | $1,970,000 | $65,667 |
Over 100% | 4 | $870,000 | $217,500 |
Houghton's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 186 originations, totaling $36,120,000 in origination value.