MONROE Mortgage Rates & Closing Costs

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

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%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within MONROE, MI.

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.).

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 207 5.01% $5,579
UNITED WHOLESALE MORTGAGE, LLC 102 5.39% $4,704
UNION HOME MORTGAGE CORP. 101 5.12% $4,291
The Huntington National Bank 93 4.90% $4,032
CROSSCOUNTRY MORTGAGE, LLC 60 5.59% $4,516
First Merchants Bank 45 4.84% $3,129
Fifth Third Bank 43 5.13% $2,881
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 37 5.04% $5,639
Directions Credit Union, Inc. 36 5.40% $2,950
MORTGAGE 1 INCORPORATED 33 5.35% $4,837
EVERETT FINANCIAL, INC. 32 5.37% $1,835
MONROE COUNTY COMMUNITY CREDIT UNION 31 5.34% $2,396
LOANDEPOT.COM, LLC 26 4.77% $5,244
EQUITY RESOURCES, INC. 25 4.78% $3,049
Flagstar Bank, FSB 25 5.36% $3,883
MORTGAGE CENTER L.C 23 4.64% $3,110
KeyBank 22 4.70% $3,373
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 22 5.12% $4,113
JPMorgan Chase Bank 21 4.35% $3,313
First Federal Bank of the Midwest 20 5.48% $3,276
CALIBER HOME LOANS, INC. 20 4.58% $4,146
MID AMERICA MORTGAGE, INC. 18 5.59% $6,074
Mr. Cooper ( Nationstar Mortgage ) 18 4.78% $5,906
First Federal Savings and Loan Association of Lakewood 17 4.71% $5,218
STAUNTON FINANCIAL, INC. 17 4.95% $3,922
DFCU FINANCIAL 17 5.06% $4,249
LAKE MICHIGAN CREDIT UNION 17 4.40% $4,644
Wells Fargo Bank 15 4.50% $4,017
TLC COMMUNITY Credit Union 14 5.10% $2,652
BLG HOLDINGS, INC. 14 4.76% $6,228
Old National Bank 13 4.45% $2,991
Citizens Bank 12 5.08% $5,390
AMERISAVE MORTGAGE CORPORATION 11 3.60% $5,470
GreenStone Farm Credit Services, FLCA 11 5.57% $4,339
ARK-LA-TEX FINANCIAL SERVICES, LLC. 10 5.20% $3,745
PNC Bank 10 4.99% $4,121
GUARANTEED RATE, INC. 9 5.61% $5,378
The State Bank and Trust Company 9 4.15% $3,666
ROSS MORTGAGE CORPORATION 9 5.78% $3,295
LAND HOME FINANCIAL SERVICES, INC. 9 5.76% $4,014
MICHIGAN MUTUAL, INC. 8 5.91% $4,739
FREEDOM MORTGAGE CORPORATION 7 4.98% $6,049
MEMBER FIRST MORTGAGE, LLC 7 5.61% $4,051
AMERIFIRST FINANCIAL CORPORATION 7 5.82% $4,702
Platinum Home Mortgage Corporation 7 4.82% $5,827
Independent Bank 7 5.07% $3,799
BROKER SOLUTIONS, INC. 6 5.17% $4,104
BETTER MORTGAGE CORPORATION 6 4.08% $3,316
HOWARD HANNA FINANCIAL SERVICES, INC. 6 5.81% $3,235
PRIMELENDING, A PLAINSCAPITAL COMPANY 5 5.12% $4,195
RUOFF MORTGAGE COMPANY, INC. 5 4.55% $3,386
HOME POINT FINANCIAL CORPORATION 5 4.15% $4,578
UNIVERSITY LENDING GROUP, LLC 5 5.38% $4,642
NEWREZ LLC 5 4.60% $3,854
SUCCESS MORTGAGE PARTNERS, INC. 5 5.32% $5,564
U.S. Bank 5 4.13% $1,972
CREDIT UNION MORTGAGE ASSOCIATION, INC. 5 3.73% $3,485
PENNYMAC LOAN SERVICES, LLC 5 4.37% $3,243
GVC MORTGAGE, INC. 4 5.46% $7,897
Plains Commerce Bank 4 4.03% $4,468
COMMUNITY FINANCIAL CREDIT UNION 4 4.47% $2,853
CARDINAL FINANCIAL 4 4.41% $3,419
PLAZA HOME MORTGAGE, INC. 4 5.91% $6,836
AMERICAN FINANCING CORPORATION 4 4.44% $4,533
SUN WEST MORTGAGE COMPANY, INC. 4 4.46% $3,633
ACADEMY MORTGAGE CORPORATION 3 5.17% $5,458
AmeriHome Mortgage Company, LLC 3 3.96% $5,316
First State Bank 3 4.49% $3,290
J. VIRGIL, INC. 3 6.21% $4,720
LAKEVIEW LOAN SERVICING, LLC 3 5.41% $5,513
MICHIGAN FIRST CREDIT UNION 3 6.46% $3,896
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 3 4.58% $3,892
Northpointe Bank 3 4.50% $3,933
SUN Federal Credit Union 3 4.38% $2,219
The Genoa Banking Company 3 4.96% $3,696
Mortgage Research Center, LLC 2 5.19% $1,882
NFM, INC. 2 7.37% $4,676
ADVANTAGE ONE Credit Union 2 6.00% $6,175
MUTUAL OF OMAHA MORTGAGE, INC. 2 5.00% $5,111
The Loan Store, Inc. 2 4.75% $4,526
Bank of England 2 6.13% $5,171
GENEVA FINANCIAL, LLC 2 3.81% $7,174
Preston Home Loans Inc 2 4.38% $4,390
Morgan Stanley Private Bank 2 3.60% $2,585
Bank of America 2 4.19% $2,649
CHURCHILL MORTGAGE CORPORATION 2 4.94% $2,853
GENISYS 2 4.50% $2,369
Sunflower Bank 2 3.99% $4,817
UNIVERSITY OF MICHIGAN CREDIT UNION 2 3.88% $2,540
Carrington Mortgage Services, LLC 2 3.63% $3,447
Ally Bank 2 5.81% $1,864
First Savings Bank 2 4.13% $7,077
HOMESIDE FINANCIAL, LLC 2 3.69% $3,111
ROYAL UNITED MORTGAGE LLC 2 5.69% $7,196
Michigan Educational Credit Union 2 4.81% $4,078
Dearborn Federal Savings Bank 1 5.00% $2,438
DAS Acquisition Company, LLC 1 7.00% $4,271
PREMIA MORTGAGE, LLC 1 6.50% $3,143
CREDIT UNION ONE 1 3.25% $2,539
CORNERSTONE HOME LENDING, INC. 1 4.88% $5,624
Commerce Home Mortgage, Inc. 1 6.40% $21,366
Comerica Bank 1 3.75% $2,374
Semper Home Loans, Inc. 1 6.63% $3,880
Servion, Inc. 1 5.25% $4,385
Sierra Pacific Mortgage Company, Inc. 1 5.88% $7,879
SIRVA MORTGAGE, INC. 1 4.88% $6,704
Citibank 1 3.50% $5,111
Stifel Bank and Trust 1 3.00% $2,223
WRIGHT-PATT CREDIT UNION, INC. 1 7.50% $2,841
Texana Bank 1 5.63% $7,025
THE ANDERSON FINANCIAL GROUP, INC. 1 5.50% $3,910
The Citizens National Bank of Bluffton 1 3.75% $3,030
The Dart Bank 1 5.50% $3,397
Wyndham Capital Mortgage, Inc. 1 3.75% $2,263
Blackhawk Bank 1 6.03% $2,758
Bank of Ann Arbor 1 4.38% $4,792
TOWNE MORTGAGE COMPANY 1 4.25% $1,688
Toyota Financial Savings Bank 1 5.13% $5,918
Associated Bank 1 6.50% $7,097
University Bank 1 6.50% $6,657
AmRes Corporation 1 6.13% $7,668
JEEP COUNTRY 1 3.25% $3,126
Hometown Lenders, Inc. 1 5.88% $7,004
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.63% $7,196
Mercantile Bank of Michigan 1 3.38% $2,792
VIBE CREDIT UNION 1 3.50% $2,453
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 3.25% $3,713
MICHIGAN SCHOOLS AND GOVERNMENT 1 4.00% $2,244
MMS MORTGAGE SERVICES, LTD. 1 4.88% $5,240
Florida Capital Bank 1 5.00% $6,993
FINANCE OF AMERICA MORTGAGE LLC 1 8.50% $7,328
Nations Lending Corporation 1 3.63% $5,706
NAVY FEDERAL CREDIT UNION 1 6.63% $4,862
NBKC BANK 1 5.63% $1,648
NETWORK CAPITAL FUNDING CORPORATION 1 3.25% $2,687
EVANSVILLE TEACHERS 1 3.13% $2,455
WINGS FINANCIAL 1 5.00% $2,554
OAK MORTGAGE, LLC 1 6.00% $3,453
EMM LOANS LLC 1 5.13% $10,383
DOW CHEMICAL EMPLOYEES' 1 3.25% $1,707
PENTAGON FEDERAL CREDIT UNION 1 4.88% $7,998
PHH Mortgage Corporation 1 3.88% $6,040
Dort Financial Credit Union 1 4.75% $1,942
Discover Bank 1 6.74% $0

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)

Zoom/scroll map to see average rent by zip code. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results.

For additional perspective within a market, below is information regarding the average rents (as defined by HUD) for zip codes within the metro area. Descriptive statistics (average, median) are shown below the table.
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.