MONROE Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Monroe averaged
6.91%
for the week of 2023-11-30, compared to the national average of
7.22% for the same period.
The average rate for the prior week (2023-11-22) was
7.18% and
one month ago for the week of 2023-10-26, the
average rate was 7.78%.
Monroe's average rate one year ago was 6.27%.
For refis of the same type during the week of 2023-11-30, the average rate
was 5.93%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-11-30 | 7.22% |
| Monroe 30 Year Fixed Rate | 2023-11-30 | 6.91% |
| Monroe 30 Year Fixed Rate Refi | 2023-11-30 | 5.93% |
| Monroe 15 Year Fixed Rate | 2023-11-30 | 7.5% |
| Monroe 15 Year Fixed Rate Refi | 2023-11-30 | 5.77% |
| Monroe 30 Year FHA | 2023-11-30 | 6.52% |
| Monroe 30 Year FHA Refi | 2023-11-30 | 7.05% |
| Monroe 30 Year USDA | 2023-11-30 | 6.8% |
| Monroe 30 Year USDA Refi | 2023-11-30 | 7.2% |
| Monroe 30 Year VA | 2023-11-30 | 6.54% |
| Monroe 30 Year VA Refi | 2023-11-30 | 6.87% |
MONROE 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 MONROE, 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.).
MONROE Average Closing Costs & Other Stats
MONROE, MI's 144 lenders originated 4,347
loans during 2022. The total origination value was $723,085,000, with an average loan value of
$166,341.
MONROE's average closing costs are $4,308.
The top MONROE lender as defined by loan originations is QUICKEN LOANS, LLC, with
207 loans originated. Their average total fees are
$5,579, which is $875
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee MONROE lenders (with over 10 loans originated) are
EVERETT FINANCIAL, INC. ($1,835), MONROE COUNTY COMMUNITY CREDIT UNION ($2,396), TLC COMMUNITY Credit Union ($2,652), Fifth Third Bank ($2,881) and Directions Credit Union, Inc. ($2,950).
The lowest rate MONROE lenders (with over 10 loans originated) are
AMERISAVE MORTGAGE CORPORATION (3.60%), JPMorgan Chase Bank (4.35%), LAKE MICHIGAN CREDIT UNION (4.40%), Old National Bank (4.45%) and Wells Fargo Bank (4.50%).
MONROE, 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 | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
|---|---|---|---|---|
| QUICKEN LOANS, LLC | $220,425,000 | $81,010,000 | -63.2% | 11.2% |
| The Huntington National Bank | $80,730,000 | $46,930,000 | -41.9% | 6.5% |
| UNITED WHOLESALE MORTGAGE, LLC | $61,255,000 | $39,795,000 | -35.0% | 5.5% |
| UNION HOME MORTGAGE CORP. | $73,205,000 | $32,415,000 | -55.7% | 4.5% |
| Fifth Third Bank | $51,970,000 | $31,970,000 | -38.5% | 4.4% |
| First Merchants Bank | $40,630,000 | $31,445,000 | -22.6% | 4.3% |
| Directions Credit Union, Inc. | $25,500,000 | $25,440,000 | -0.2% | 3.5% |
| CROSSCOUNTRY MORTGAGE, LLC | $30,265,000 | $22,405,000 | -26.0% | 3.1% |
| MORTGAGE 1 INCORPORATED | $27,375,000 | $16,495,000 | -39.7% | 2.3% |
| First Federal Bank of the Midwest | $11,010,000 | $16,405,000 | 49.0% | 2.3% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $14,790,000 | $13,375,000 | -9.6% | 1.8% |
| LAKE MICHIGAN CREDIT UNION | $17,170,000 | $12,360,000 | -28.0% | 1.7% |
| MONROE COUNTY COMMUNITY CREDIT UNION | $16,995,000 | $12,325,000 | -27.5% | 1.7% |
| Citizens Bank | $15,165,000 | $11,830,000 | -22.0% | 1.6% |
| PNC Bank | $17,825,000 | $11,605,000 | -34.9% | 1.6% |
| GreenStone Farm Credit Services, FLCA | $13,290,000 | $11,575,000 | -12.9% | 1.6% |
| KeyBank | $25,340,000 | $11,060,000 | -56.4% | 1.5% |
| Flagstar Bank, FSB | $13,520,000 | $10,595,000 | -21.6% | 1.5% |
| EVERETT FINANCIAL, INC. | $3,795,000 | $10,120,000 | 166.7% | 1.4% |
| CALIBER HOME LOANS, INC. | $17,700,000 | $9,105,000 | -48.6% | 1.3% |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $12,870,000 | $8,260,000 | -35.8% | 1.1% |
| Mortgage Research Center, LLC | $12,390,000 | $7,985,000 | -35.6% | 1.1% |
| First Federal Savings and Loan Association of Lakewood | $17,520,000 | $7,720,000 | -55.9% | 1.1% |
| Mr. Cooper ( Nationstar Mortgage ) | $23,325,000 | $7,645,000 | -67.2% | 1.1% |
| LOANDEPOT.COM, LLC | $15,735,000 | $7,410,000 | -52.9% | 1.0% |
| TRIAD FINANCIAL SERVICES, INC. | $6,005,000 | $7,170,000 | 19.4% | 1.0% |
| MID AMERICA MORTGAGE, INC. | $12,380,000 | $6,775,000 | -45.3% | 0.9% |
| STAUNTON FINANCIAL, INC. | $6,255,000 | $6,620,000 | 5.8% | 0.9% |
| DFCU FINANCIAL | $6,970,000 | $6,595,000 | -5.4% | 0.9% |
| MORTGAGE CENTER L.C | $9,160,000 | $6,520,000 | -28.8% | 0.9% |
| FREEDOM MORTGAGE CORPORATION | $23,720,000 | $6,250,000 | -73.7% | 0.9% |
| EQUITY RESOURCES, INC. | $19,415,000 | $6,245,000 | -67.8% | 0.9% |
| Old National Bank | $13,285,000 | $5,355,000 | -59.7% | 0.7% |
| JPMorgan Chase Bank | $12,000,000 | $4,805,000 | -60.0% | 0.7% |
| BLG HOLDINGS, INC. | $5,055,000 | $4,770,000 | -5.6% | 0.7% |
| AMERISAVE MORTGAGE CORPORATION | $14,715,000 | $4,505,000 | -69.4% | 0.6% |
| The Citizens National Bank of Bluffton | $445,000 | $4,390,000 | 886.5% | 0.6% |
| Wells Fargo Bank | $16,005,000 | $4,190,000 | -73.8% | 0.6% |
| Providence Bank & Trust | $3,620,000 | n/a | 0.5% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $6,405,000 | $3,515,000 | -45.1% | 0.5% |
| NEWREZ LLC | $7,275,000 | $3,260,000 | -55.2% | 0.5% |
| GUARANTEED RATE, INC. | $6,480,000 | $3,240,000 | -50.0% | 0.4% |
| TLC COMMUNITY Credit Union | $3,540,000 | $3,205,000 | -9.5% | 0.4% |
| LAKEVIEW LOAN SERVICING, LLC | $5,790,000 | $3,040,000 | -47.5% | 0.4% |
| The Genoa Banking Company | $7,055,000 | $2,965,000 | -58.0% | 0.4% |
| ROSS MORTGAGE CORPORATION | $5,280,000 | $2,950,000 | -44.1% | 0.4% |
| COMMUNITY FINANCIAL CREDIT UNION | $1,590,000 | $2,890,000 | 81.8% | 0.4% |
| BROKER SOLUTIONS, INC. | $5,030,000 | $2,590,000 | -48.5% | 0.4% |
| The State Bank and Trust Company | $12,045,000 | $2,480,000 | -79.4% | 0.3% |
| Nations Lending Corporation | $24,070,000 | $2,475,000 | -89.7% | 0.3% |
| USAA Federal Savings Bank | $2,980,000 | $2,315,000 | -22.3% | 0.3% |
| Platinum Home Mortgage Corporation | $7,180,000 | $2,295,000 | -68.0% | 0.3% |
| PLAZA HOME MORTGAGE, INC. | $2,155,000 | $2,265,000 | 5.1% | 0.3% |
| MEMBER FIRST MORTGAGE, LLC | $1,045,000 | $2,205,000 | 111.0% | 0.3% |
| UNIVERSITY LENDING GROUP, LLC | $5,300,000 | $2,205,000 | -58.4% | 0.3% |
| RUOFF MORTGAGE COMPANY, INC. | $5,550,000 | $2,195,000 | -60.5% | 0.3% |
| LAND HOME FINANCIAL SERVICES, INC. | $3,635,000 | $2,160,000 | -40.6% | 0.3% |
| MICHIGAN MUTUAL, INC. | $3,485,000 | $2,155,000 | -38.2% | 0.3% |
| NAVY FEDERAL CREDIT UNION | $4,600,000 | $2,145,000 | -53.4% | 0.3% |
| PENNYMAC LOAN SERVICES, LLC | $8,085,000 | $2,130,000 | -73.7% | 0.3% |
| NEW DAY FINANCIAL, LLC | $3,390,000 | $2,105,000 | -37.9% | 0.3% |
| CREDIT UNION MORTGAGE ASSOCIATION, INC. | $1,155,000 | $1,970,000 | 70.6% | 0.3% |
| Independent Bank | $1,645,000 | $1,945,000 | 18.2% | 0.3% |
| U.S. Bank | $3,805,000 | $1,925,000 | -49.4% | 0.3% |
| HOME POINT FINANCIAL CORPORATION | $7,785,000 | $1,910,000 | -75.5% | 0.3% |
| SUCCESS MORTGAGE PARTNERS, INC. | $3,790,000 | $1,900,000 | -49.9% | 0.3% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $4,705,000 | $1,875,000 | -60.1% | 0.3% |
| GVC MORTGAGE, INC. | $4,600,000 | $1,810,000 | -60.7% | 0.3% |
| Bank of America | $4,155,000 | $1,805,000 | -56.6% | 0.2% |
| ACADEMY MORTGAGE CORPORATION | $5,525,000 | $1,790,000 | -67.6% | 0.2% |
| HOWARD HANNA FINANCIAL SERVICES, INC. | $4,175,000 | $1,770,000 | -57.6% | 0.2% |
| Commerce Home Mortgage, Inc. | $1,710,000 | n/a | 0.2% | |
| AMERIFIRST FINANCIAL CORPORATION | $4,800,000 | $1,685,000 | -64.9% | 0.2% |
| UNIVERSITY OF MICHIGAN CREDIT UNION | $1,400,000 | $1,600,000 | 14.3% | 0.2% |
| ADVANTAGE ONE Credit Union | $2,770,000 | $1,575,000 | -43.1% | 0.2% |
| SUN Federal Credit Union | $4,025,000 | $1,480,000 | -63.2% | 0.2% |
| Waterford Bank, N.A. | $2,385,000 | $1,470,000 | -38.4% | 0.2% |
| BETTER MORTGAGE CORPORATION | $6,745,000 | $1,450,000 | -78.5% | 0.2% |
| 21ST MORTGAGE CORPORATION | $1,335,000 | $1,425,000 | 6.7% | 0.2% |
| Carrington Mortgage Services, LLC | $2,765,000 | $1,415,000 | -48.8% | 0.2% |
| AMERICAN FINANCING CORPORATION | $1,730,000 | $1,340,000 | -22.5% | 0.2% |
| FINANCE OF AMERICA MORTGAGE LLC | $480,000 | $1,305,000 | 171.9% | 0.2% |
| MICHIGAN SCHOOLS AND GOVERNMENT | $2,325,000 | $1,255,000 | -46.0% | 0.2% |
| GENEVA FINANCIAL, LLC | $2,925,000 | $1,180,000 | -59.7% | 0.2% |
| MICHIGAN FIRST CREDIT UNION | $695,000 | $1,165,000 | 67.6% | 0.2% |
| SUN WEST MORTGAGE COMPANY, INC. | $3,155,000 | $1,100,000 | -65.1% | 0.2% |
| PENTAGON FEDERAL CREDIT UNION | $605,000 | $1,055,000 | 74.4% | 0.1% |
| The Federal Savings Bank | $1,100,000 | $1,030,000 | -6.4% | 0.1% |
| Ally Bank | $1,125,000 | $970,000 | -13.8% | 0.1% |
| First State Bank | $945,000 | n/a | 0.1% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $4,135,000 | $915,000 | -77.9% | 0.1% |
| CREDIT UNION ONE | $1,855,000 | $855,000 | -53.9% | 0.1% |
| ZILLOW HOME LOANS, LLC | $730,000 | $855,000 | 17.1% | 0.1% |
| Hometown Lenders, Inc. | $2,090,000 | $850,000 | -59.3% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $525,000 | $815,000 | 55.2% | 0.1% |
| First Savings Bank | $490,000 | $815,000 | 66.3% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $3,305,000 | $805,000 | -75.6% | 0.1% |
| The Dart Bank | $880,000 | $780,000 | -11.4% | 0.1% |
| NBKC BANK | $935,000 | $770,000 | -17.6% | 0.1% |
| Michigan Educational Credit Union | $80,000 | $755,000 | 843.8% | 0.1% |
| ADVIA | $545,000 | $750,000 | 37.6% | 0.1% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $2,860,000 | $745,000 | -74.0% | 0.1% |
| Morgan Stanley Private Bank | $720,000 | n/a | 0.1% | |
| WINGS FINANCIAL | $1,055,000 | $690,000 | -34.6% | 0.1% |
| Plains Commerce Bank | $330,000 | $680,000 | 106.1% | 0.1% |
| TOWNE MORTGAGE COMPANY | $2,160,000 | $675,000 | -68.8% | 0.1% |
| MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $535,000 | $640,000 | 19.6% | 0.1% |
| AmeriHome Mortgage Company, LLC | $565,000 | $630,000 | 11.5% | 0.1% |
| Comerica Bank | $1,075,000 | $630,000 | -41.4% | 0.1% |
| Preston Home Loans Inc | $615,000 | n/a | 0.1% | |
| GLASS CITY Federal Credit Union | $1,390,000 | $605,000 | -56.5% | 0.1% |
| J. VIRGIL, INC. | $1,645,000 | $580,000 | -64.7% | 0.1% |
| GENISYS | $1,495,000 | $565,000 | -62.2% | 0.1% |
| EVANSVILLE TEACHERS | $560,000 | n/a | 0.1% | |
| The Loan Store, Inc. | $560,000 | n/a | 0.1% | |
| Farm Credit Mid-America, ACA | $550,000 | n/a | 0.1% | |
| Wyndham Capital Mortgage, Inc. | $695,000 | $530,000 | -23.7% | 0.1% |
| LENDINGHOME FUNDING CORPORATION | $285,000 | $525,000 | 84.2% | 0.1% |
| The Farmers & Merchants State Bank | $260,000 | $525,000 | 101.9% | 0.1% |
| Figure Lending LLC | $500,000 | $475,000 | -5.0% | 0.1% |
| NETWORK CAPITAL FUNDING CORPORATION | $155,000 | $470,000 | 203.2% | 0.1% |
| Associated Bank | $445,000 | n/a | 0.1% | |
| The Croghan Colonial Bank | $205,000 | $445,000 | 117.1% | 0.1% |
| PREMIA MORTGAGE, LLC | $430,000 | n/a | 0.1% | |
| CLEARPATH LENDING | $1,535,000 | $415,000 | -73.0% | 0.1% |
| HOMESIDE FINANCIAL, LLC | $1,085,000 | $415,000 | -61.8% | 0.1% |
| DAS Acquisition Company, LLC | $690,000 | $410,000 | -40.6% | 0.1% |
| NFM, INC. | $405,000 | n/a | 0.1% | |
| JEEP COUNTRY | $400,000 | n/a | 0.1% | |
| Bank of England | $310,000 | $390,000 | 25.8% | 0.1% |
| AMERICAN ADVISORS GROUP | $865,000 | $385,000 | -55.5% | 0.1% |
| UBS Bank USA | $385,000 | n/a | 0.1% | |
| EMM LOANS LLC | $380,000 | n/a | 0.1% | |
| ARBOR FINANCIAL CREDIT UNION | $55,000 | $370,000 | 572.7% | 0.1% |
| Florida Capital Bank | $365,000 | n/a | 0.1% | |
| Sunflower Bank | $275,000 | $360,000 | 30.9% | 0.0% |
| First Guaranty Mortgage Corporation | $2,080,000 | $350,000 | -83.2% | 0.0% |
| GREENSTATE CREDIT UNION | $345,000 | n/a | 0.0% | |
| GREENWOOD | $170,000 | $345,000 | 102.9% | 0.0% |
| Northpointe Bank | $1,220,000 | $345,000 | -71.7% | 0.0% |
| Stifel Bank and Trust | $340,000 | n/a | 0.0% | |
| STOCKTON MORTGAGE CORPORATION | $970,000 | $340,000 | -64.9% | 0.0% |
| NATIONS DIRECT MORTGAGE, LLC | $515,000 | $335,000 | -35.0% | 0.0% |
| SIRVA MORTGAGE, INC. | $275,000 | $335,000 | 21.8% | 0.0% |
| Thumb Bank and Trust | $325,000 | n/a | 0.0% | |
| CMG MORTGAGE, INC. | $460,000 | $315,000 | -31.5% | 0.0% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $1,105,000 | $300,000 | -72.9% | 0.0% |
| Bank of Ann Arbor | $2,930,000 | $295,000 | -89.9% | 0.0% |
| Discover Bank | $305,000 | $295,000 | -3.3% | 0.0% |
| OAK MORTGAGE, LLC | $295,000 | n/a | 0.0% | |
| Toyota Financial Savings Bank | $295,000 | n/a | 0.0% | |
| BayCoast Bank | $430,000 | $285,000 | -33.7% | 0.0% |
| Paramount Residential Mortgage Group, Inc. | $2,525,000 | $275,000 | -89.1% | 0.0% |
| SUMMIT FUNDING, INC. | $1,265,000 | $275,000 | -78.3% | 0.0% |
| Centier Bank | $60,000 | $270,000 | 350.0% | 0.0% |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $2,015,000 | $270,000 | -86.6% | 0.0% |
| FirstBank | $885,000 | $265,000 | -70.1% | 0.0% |
| ROYAL UNITED MORTGAGE LLC | $435,000 | $265,000 | -39.1% | 0.0% |
| Sierra Pacific Mortgage Company, Inc. | $265,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $405,000 | $265,000 | -34.6% | 0.0% |
| University Bank | $265,000 | n/a | 0.0% | |
| CIVIC FINANCIAL SERVICES, LLC | $570,000 | $260,000 | -54.4% | 0.0% |
| FIRST COMMUNITY MORTGAGE, INC. | $255,000 | n/a | 0.0% | |
| THE ANDERSON FINANCIAL GROUP, INC. | $285,000 | $255,000 | -10.5% | 0.0% |
| LIBERTY HOME MORTGAGE CORPORATION | $770,000 | $250,000 | -67.5% | 0.0% |
| NUMARK CREDIT UNION | $60,000 | $250,000 | 316.7% | 0.0% |
| CANOPY MORTGAGE, LLC | $245,000 | n/a | 0.0% | |
| Strong Home Mortgage, LLC | $225,000 | $245,000 | 8.9% | 0.0% |
| DIRECT MORTGAGE LOANS, LLC | $235,000 | n/a | 0.0% | |
| COMMUNITY CHOICE CREDIT UNION | $25,000 | $225,000 | 800.0% | 0.0% |
| Lake Trust Credit Union | $325,000 | $215,000 | -33.8% | 0.0% |
| Semper Home Loans, Inc. | $215,000 | n/a | 0.0% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $75,000 | $215,000 | 186.7% | 0.0% |
| BAYSHORE MORTGAGE FUNDING, LLC | $400,000 | $205,000 | -48.8% | 0.0% |
| Blackhawk Bank | $205,000 | n/a | 0.0% | |
| Dearborn Federal Savings Bank | $380,000 | $205,000 | -46.1% | 0.0% |
| Valley Central Bank | $205,000 | n/a | 0.0% | |
| Zeal Credit Union | $1,325,000 | $200,000 | -84.9% | 0.0% |
| AmRes Corporation | $195,000 | n/a | 0.0% | |
| MOVEMENT MORTGAGE, LLC | $275,000 | $195,000 | -29.1% | 0.0% |
| OPEN MORTGAGE, LLC | $195,000 | n/a | 0.0% | |
| County National Bank | $340,000 | $185,000 | -45.6% | 0.0% |
| Texana Bank | $185,000 | n/a | 0.0% | |
| NP, Inc. | $175,000 | n/a | 0.0% | |
| Dort Financial Credit Union | $205,000 | $165,000 | -19.5% | 0.0% |
| Isabella Bank | $165,000 | n/a | 0.0% | |
| North American Savings Bank, F.S.B. | $940,000 | $165,000 | -82.4% | 0.0% |
| QUORUM FEDERAL CREDIT UNION | $165,000 | n/a | 0.0% | |
| RESIDENTIAL BANCORP. | $920,000 | $165,000 | -82.1% | 0.0% |
| Mercantile Bank of Michigan | $340,000 | $155,000 | -54.4% | 0.0% |
| WRIGHT-PATT CREDIT UNION, INC. | $305,000 | $155,000 | -49.2% | 0.0% |
| First Internet Bank of Indiana | $150,000 | n/a | 0.0% | |
| Equity Prime Mortgage LLC | $145,000 | n/a | 0.0% | |
| Northwest Federal Credit Union | $145,000 | n/a | 0.0% | |
| TJC Mortgage, Inc. | $95,000 | $145,000 | 52.6% | 0.0% |
| KEMBA FINANCIAL | $135,000 | n/a | 0.0% | |
| OCMBC, INC. | $135,000 | n/a | 0.0% | |
| VIBE CREDIT UNION | $325,000 | $135,000 | -58.5% | 0.0% |
| Public Service Credit Union | $205,000 | $130,000 | -36.6% | 0.0% |
| AMERICAN FINANCIAL RESOURCES, INC. | $445,000 | $125,000 | -71.9% | 0.0% |
| CORNERSTONE HOME LENDING, INC. | $125,000 | n/a | 0.0% | |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $865,000 | $125,000 | -85.5% | 0.0% |
| Citibank | $235,000 | $115,000 | -51.1% | 0.0% |
| PHH Mortgage Corporation | $1,000,000 | $115,000 | -88.5% | 0.0% |
| Servion, Inc. | $145,000 | $115,000 | -20.7% | 0.0% |
| THRIVENT Federal Credit Union | $390,000 | $110,000 | -71.8% | 0.0% |
| ALLIANT CREDIT UNION | $105,000 | n/a | 0.0% | |
| ARC HOME LLC | $135,000 | $105,000 | -22.2% | 0.0% |
| DOW CHEMICAL EMPLOYEES' | $195,000 | $105,000 | -46.2% | 0.0% |
| MMS MORTGAGE SERVICES, LTD. | $1,280,000 | $105,000 | -91.8% | 0.0% |
| Chicago Mortgage Solutions LLC | $940,000 | $95,000 | -89.9% | 0.0% |
| MORIA DEVELOPMENT, INC. | $95,000 | n/a | 0.0% | |
| People Driven Credit Union | $95,000 | n/a | 0.0% | |
| LENDINGONE, LLC | $290,000 | $75,000 | -74.1% | 0.0% |
| GFA Federal Credit Union | $55,000 | n/a | 0.0% | |
| American Airlines Federal Credit Union | $35,000 | n/a | 0.0% | |
| Christian Financial Credit Union | $35,000 | n/a | 0.0% | |
| Meijer Credit Union | $35,000 | n/a | 0.0% | |
| PARKSIDE | $35,000 | n/a | 0.0% | |
| SECURITY CREDIT UNION | $25,000 | n/a | 0.0% | |
| Bay Area Credit Union, Inc. | $15,000 | n/a | 0.0% |
MONROE's top lender by overall market share is QUICKEN LOANS, LLC, with 11.2% market share. In second place, with 6.5%, is The Huntington National Bank, having originated $46,930,000 in loans. In third place, with 5.5%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $39,795,000 in loans. In fourth place, with 4.5%, is UNION HOME MORTGAGE CORP., having originated $32,415,000 in loans. In fifth place, with 4.4%, is Fifth Third Bank, having originated $31,970,000 in loans.
MONROE, MI Average Rent (2023)
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| Zip Code | Metro | Studio Apartment Rent | 1BR Apartment Rent | 2BR Apartment Rent | 3BR Apartment Rent | 4BR Apartment Rent |
|---|---|---|---|---|---|---|
| 48111 | Monroe, MI | $930 | $940 | $1,140 | $1,440 | $1,710 |
| 48117 | Monroe, MI | $640 | $740 | $950 | $1,250 | $1,520 |
| 48131 | Monroe, MI | $650 | $740 | $970 | $1,280 | $1,550 |
| 48133 | Monroe, MI | $700 | $810 | $1,050 | $1,380 | $1,680 |
| 48134 | Monroe, MI | $650 | $750 | $960 | $1,210 | $1,320 |
| 48140 | Monroe, MI | $570 | $630 | $810 | $1,100 | $1,210 |
| 48144 | Monroe, MI | $770 | $880 | $1,150 | $1,510 | $1,840 |
| 48145 | Monroe, MI | $750 | $860 | $1,120 | $1,470 | $1,790 |
| 48157 | Monroe, MI | $570 | $630 | $810 | $1,100 | $1,210 |
| 48159 | Monroe, MI | $670 | $770 | $1,000 | $1,310 | $1,600 |
| 48160 | Monroe, MI | $930 | $940 | $1,140 | $1,440 | $1,710 |
| 48161 | Monroe, MI | $580 | $670 | $870 | $1,140 | $1,390 |
| 48162 | Monroe, MI | $600 | $680 | $890 | $1,170 | $1,420 |
| 48164 | Monroe, MI | $860 | $990 | $1,270 | $1,610 | $1,730 |
| 48166 | Monroe, MI | $780 | $890 | $1,160 | $1,530 | $1,850 |
| 48177 | Monroe, MI | $650 | $740 | $970 | $1,280 | $1,550 |
| 48179 | Monroe, MI | $810 | $930 | $1,210 | $1,590 | $1,930 |
| 48182 | Monroe, MI | $650 | $740 | $970 | $1,280 | $1,550 |
| 48191 | Monroe, MI | $1,250 | $1,260 | $1,520 | $1,880 | $2,190 |
| 49228 | Monroe, MI | $630 | $720 | $940 | $1,240 | $1,500 |
| 49229 | Monroe, MI | $930 | $940 | $1,140 | $1,440 | $1,710 |
| 49238 | Monroe, MI | $600 | $690 | $900 | $1,180 | $1,440 |
| 49267 | Monroe, MI | $680 | $780 | $1,020 | $1,340 | $1,630 |
| 49270 | Monroe, MI | $630 | $720 | $940 | $1,240 | $1,500 |
| 49276 | Monroe, MI | $780 | $890 | $1,160 | $1,530 | $1,850 |
2022 Average & Median Rent Data Statistics
MONROE, MI average 1BR rent: $813, median: $770
MONROE, MI average 2BR rent: $1,042, median: $1,000
MONROE, MI average 3BR rent: $1,358, median: $1,310
MONROE, MI Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,950 | $424,410,000 | $217,646 |
| Cash Out Refi | 761 | $130,915,000 | $172,030 |
| Refi | 676 | $99,220,000 | $146,775 |
| Home Improvement | 558 | $38,170,000 | $68,405 |
| Other | 402 | $30,370,000 | $75,547 |
Monroe's most frequently cited loan purpose was Home Purchase, with 1,950 originations. The 2nd most popular reason was Cash Out Refi, with 761 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 989 | $172,805,000 | $174,727 |
| 5-6% | 986 | $184,390,000 | $187,008 |
| 4-5% | 895 | $156,785,000 | $175,179 |
| 6-7% | 579 | $101,815,000 | $175,846 |
| 2.5-3% | 293 | $43,265,000 | $147,662 |
| 7-8% | 201 | $23,405,000 | $116,443 |
| Over 8% | 199 | $12,615,000 | $63,392 |
| <2.5% | 193 | $25,715,000 | $133,238 |
During 2022, Monroe's most frequently originated rate bucket was 3-4%, with 989 originations.
Loan Sizing (MONROE, MI MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 1,658 | $241,120,000 | $145,428 |
| $100,000 or less | 1,375 | $77,345,000 | $56,251 |
| $200k-400k | 1,162 | $313,100,000 | $269,449 |
| $400k-600k | 126 | $59,010,000 | $468,333 |
| $600k-1000k | 20 | $12,850,000 | $642,500 |
| $Over $1MM | 6 | $19,660,000 | $3,276,667 |
MONROE's loan sizing saw the bucket of loans from $100k-200k with 1,658 originations, totaling $241,120,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 1,500 | $349,440,000 | $232,960 |
| 60-80% | 1,020 | $204,730,000 | $200,716 |
| 20-40% | 613 | $49,855,000 | $81,330 |
| Under 20% | 539 | $21,945,000 | $40,714 |
| 40-60% | 494 | $72,090,000 | $145,931 |
| Over 100% | 32 | $9,930,000 | $310,313 |
MONROE's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,500 originations, totaling $349,440,000 in origination value.