Iron Mountain Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Iron Mountain averaged
6.8%
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
7.03% and
one month ago for the week of 2025-05-15, the
average rate was 6.8%.
Iron Mountain's average rate one year ago was 7.14%.
For refis of the same type during the week of 2025-06-18, the average rate
was 6.71%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Iron Mountain 30 Year Fixed Rate | 2025-06-18 | 6.8% |
| Iron Mountain 30 Year Fixed Rate Refi | 2025-06-18 | 6.71% |
| Iron Mountain 15 Year Fixed Rate | 2025-06-18 | 5.96% |
| Iron Mountain 15 Year Fixed Rate Refi | 2025-06-18 | 5.96% |
| Iron Mountain 30 Year FHA | 2025-06-18 | -0.2% |
| Iron Mountain 30 Year FHA Refi | 2025-06-18 | -0.2% |
| Iron Mountain 30 Year USDA | 2025-06-18 | -0.1% |
| Iron Mountain 30 Year USDA Refi | 2025-06-18 | -0.2% |
| Iron Mountain 30 Year VA | 2025-06-18 | 0.2% |
| Iron Mountain 30 Year VA Refi | 2025-06-18 | 0.2% |
Iron Mountain 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 Iron Mountain, MI-WI 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.).
Iron Mountain Average Closing Costs & Other Stats
Iron Mountain, MI-WI's 42 lenders originated 383
loans during 2024. The total origination value was $62,965,000, with an average loan value of
$164,399.
Iron Mountain's average closing costs are $3,670.
The top Iron Mountain lender as defined by loan originations is IncredibleBank, with
30 loans originated. Their average total fees are
$2,834, which is $671
lower than the next largest lender,
Flagstar Bank, FSB.
The lowest fee Iron Mountain lenders (with over 10 loans originated) are
IncredibleBank ($2,834), Nicolet National Bank ($3,282), CoVantage Credit Union ($3,401), Flagstar Bank, FSB ($3,506) and QUICKEN LOANS, LLC ($4,464).
The lowest rate Iron Mountain lenders (with over 10 loans originated) are
CoVantage Credit Union (6.78%), IncredibleBank (6.86%), Flagstar Bank, FSB (6.98%), QUICKEN LOANS, LLC (7.01%) and Nicolet National Bank (7.10%).
Iron Mountain, MI-WI 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 |
|---|---|---|---|---|
| Flagstar Bank, FSB | $5,265,000 | $6,625,000 | 25.8% | 10.5% |
| IncredibleBank | $4,450,000 | $6,220,000 | 39.8% | 9.9% |
| Mortgage Research Center, LLC | $3,455,000 | $4,375,000 | 26.6% | 6.9% |
| QUICKEN LOANS, LLC | $4,005,000 | $4,320,000 | 7.9% | 6.9% |
| CoVantage Credit Union | $3,965,000 | $3,815,000 | -3.8% | 6.1% |
| Nicolet National Bank | $1,675,000 | $3,595,000 | 114.6% | 5.7% |
| Range Bank | $2,440,000 | $3,225,000 | 32.2% | 5.1% |
| The Huntington National Bank | $1,495,000 | $2,120,000 | 41.8% | 3.4% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,890,000 | $1,880,000 | -0.5% | 3.0% |
| Paramount Residential Mortgage Group, Inc. | $285,000 | $1,575,000 | 452.6% | 2.5% |
| USAA Federal Savings Bank | $565,000 | $1,475,000 | 161.1% | 2.3% |
| Associated Bank | $980,000 | $1,200,000 | 22.4% | 1.9% |
| NAVY FEDERAL CREDIT UNION | $235,000 | $1,120,000 | 376.6% | 1.8% |
| Barrington Bank & Trust Company, N.A. | $145,000 | $1,095,000 | 655.2% | 1.7% |
| Bank of America | $940,000 | n/a | 1.5% | |
| Bell Bank | $195,000 | $930,000 | 376.9% | 1.5% |
| PENNYMAC LOAN SERVICES, LLC | $865,000 | n/a | 1.4% | |
| GUARANTEED RATE, INC. | $855,000 | n/a | 1.4% | |
| JPMorgan Chase Bank | $250,000 | $740,000 | 196.0% | 1.2% |
| PLANET HOME LENDING, LLC | $730,000 | n/a | 1.2% | |
| UMB Bank | $635,000 | n/a | 1.0% | |
| CARDINAL FINANCIAL | $630,000 | n/a | 1.0% | |
| NEW DAY FINANCIAL, LLC | $515,000 | $620,000 | 20.4% | 1.0% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $365,000 | $580,000 | 58.9% | 0.9% |
| FIRST COLONY MORTGAGE CORPORATION | $565,000 | n/a | 0.9% | |
| Fifth Third Bank | $560,000 | n/a | 0.9% | |
| Prosperity Home Mortgage, LLC | $545,000 | n/a | 0.9% | |
| Johnson Bank | $415,000 | $500,000 | 20.5% | 0.8% |
| NBKC BANK | $155,000 | $485,000 | 212.9% | 0.8% |
| Wells Fargo Bank | $310,000 | $435,000 | 40.3% | 0.7% |
| EDUCATORS CREDIT UNION | $405,000 | n/a | 0.6% | |
| FREEDOM MORTGAGE CORPORATION | $75,000 | $390,000 | 420.0% | 0.6% |
| Summit Credit Union | $165,000 | $370,000 | 124.2% | 0.6% |
| BMO Harris Bank | $35,000 | $355,000 | 914.3% | 0.6% |
| MICHIGAN MUTUAL, INC. | $320,000 | n/a | 0.5% | |
| Laona State Bank | $375,000 | $310,000 | -17.3% | 0.5% |
| LOANDEPOT.COM, LLC | $145,000 | $295,000 | 103.4% | 0.5% |
| ENDEAVOR CAPITAL, LLC. | $275,000 | n/a | 0.4% | |
| GreenStone Farm Credit Services, FLCA | $115,000 | $275,000 | 139.1% | 0.4% |
| Raymond James Bank | $265,000 | n/a | 0.4% | |
| WINGS FINANCIAL | $265,000 | n/a | 0.4% | |
| Farmers & Merchants State Bank | $255,000 | n/a | 0.4% | |
| FOX COMMUNITIES | $725,000 | $255,000 | -64.8% | 0.4% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $145,000 | $255,000 | 75.9% | 0.4% |
| Honor Credit Union | $120,000 | $215,000 | 79.2% | 0.3% |
| LAKEVIEW LOAN SERVICING, LLC | $215,000 | n/a | 0.3% | |
| Armed Forces Bank | $205,000 | n/a | 0.3% | |
| LEADERONE FINANCIAL CORPORATION | $205,000 | n/a | 0.3% | |
| MARINE | $205,000 | n/a | 0.3% | |
| MORTGAGE 1 INCORPORATED | $200,000 | n/a | 0.3% | |
| American Airlines Federal Credit Union | $185,000 | n/a | 0.3% | |
| BROKER SOLUTIONS, INC. | $850,000 | $185,000 | -78.2% | 0.3% |
| VILLAGE CAPITAL MORTGAGE | $185,000 | n/a | 0.3% | |
| AMERICAN FINANCIAL NETWORK, INC. | $175,000 | n/a | 0.3% | |
| Oostburg State Bank | $155,000 | $175,000 | 12.9% | 0.3% |
| MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $780,000 | $165,000 | -78.8% | 0.3% |
| THE MORTGAGE LINK, INC. | $165,000 | n/a | 0.3% | |
| NEWREZ LLC | $95,000 | $155,000 | 63.2% | 0.2% |
| ROYAL UNITED MORTGAGE LLC | $420,000 | $155,000 | -63.1% | 0.2% |
| Peoples Bank | $145,000 | n/a | 0.2% | |
| First State Bank | $135,000 | n/a | 0.2% | |
| Mr. Cooper ( Nationstar Mortgage ) | $355,000 | $135,000 | -62.0% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $430,000 | $125,000 | -70.9% | 0.2% |
| CALCON MUTUAL MORTGAGE LLC | $105,000 | n/a | 0.2% | |
| CHURCHILL MORTGAGE CORPORATION | $125,000 | $105,000 | -16.0% | 0.2% |
| STAUNTON FINANCIAL, INC. | $105,000 | n/a | 0.2% | |
| Truist | $95,000 | n/a | 0.2% | |
| FINANCE OF AMERICA REVERSE LLC | $85,000 | n/a | 0.1% | |
| GUILD MORTGAGE COMPANY | $145,000 | $75,000 | -48.3% | 0.1% |
| Premier Community Bank | $245,000 | $75,000 | -69.4% | 0.1% |
| TRIAD FINANCIAL SERVICES, INC. | $75,000 | n/a | 0.1% | |
| Waldo State Bank | $75,000 | n/a | 0.1% | |
| Discover Bank | $65,000 | n/a | 0.1% | |
| MICHIGAN FIRST CREDIT UNION | $65,000 | n/a | 0.1% | |
| Old National Bank | $275,000 | $65,000 | -76.4% | 0.1% |
| PNC Bank | $225,000 | $65,000 | -71.1% | 0.1% |
| ZILLOW HOME LOANS, LLC | $65,000 | n/a | 0.1% | |
| Bank First, N.A. | $575,000 | $55,000 | -90.4% | 0.1% |
| Consumers Professional Credit Union | $55,000 | n/a | 0.1% | |
| Figure Lending LLC | $25,000 | $35,000 | 40.0% | 0.1% |
| The Stephenson National Bank and Trust | $135,000 | $35,000 | -74.1% | 0.1% |
| SPRING EQ, LLC | $120,000 | $25,000 | -79.2% | 0.0% |
Iron Mountain's top lender by overall market share is Flagstar Bank, FSB, with 10.5% market share. In second place, with 9.9%, is IncredibleBank, having originated $6,220,000 in loans. In third place, with 6.9%, is Mortgage Research Center, LLC, having originated $4,375,000 in loans. In fourth place, with 6.9%, is QUICKEN LOANS, LLC, having originated $4,320,000 in loans. In fifth place, with 6.1%, is CoVantage Credit Union, having originated $3,815,000 in loans.
Iron Mountain, MI-WI Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 224 | $42,940,000 | $191,696 |
| Cash Out Refi | 51 | $7,815,000 | $153,235 |
| Refi | 45 | $7,745,000 | $172,111 |
| Other | 37 | $2,725,000 | $73,649 |
| Home Improvement | 26 | $1,740,000 | $66,923 |
Iron Mountain's most frequently cited loan purpose was Home Purchase, with 224 originations. The 2nd most popular reason was Cash Out Refi, with 51 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 147 | $28,005,000 | $190,510 |
| 7-8% | 100 | $15,140,000 | $151,400 |
| Over 8% | 56 | $5,230,000 | $93,393 |
| 5-6% | 45 | $9,315,000 | $207,000 |
| 4-5% | 3 | $715,000 | $238,333 |
| <2.5% | 2 | $220,000 | $110,000 |
During 2024, Iron Mountain's most frequently originated rate bucket was 6-7%, with 147 originations.
Loan Sizing (Iron Mountain, MI-WI MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 138 | $8,200,000 | $59,420 |
| $100k-200k | 136 | $19,780,000 | $145,441 |
| $200k-400k | 88 | $24,000,000 | $272,727 |
| $400k-600k | 17 | $8,225,000 | $483,824 |
| $600k-1000k | 4 | $2,760,000 | $690,000 |
Iron Mountain's loan sizing saw the bucket of loans from $100,000 or less with 138 originations, totaling $8,200,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 171 | $33,655,000 | $196,813 |
| 60-80% | 75 | $14,535,000 | $193,800 |
| 40-60% | 38 | $5,290,000 | $139,211 |
| 20-40% | 34 | $2,170,000 | $63,824 |
| Under 20% | 25 | $755,000 | $30,200 |
| Over 100% | 3 | $495,000 | $165,000 |
Iron Mountain's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 171 originations, totaling $33,655,000 in origination value.