Mount Pleasant Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Mount Pleasant averaged 7.19% for the week of 2024-10-24, compared to the national average of 6.54% for the same period.

The average rate for the prior week (2024-10-17) was 6.99% and one month ago for the week of 2024-09-19, the average rate was 6.54%.

Mount Pleasant's average rate one year ago was 8.18%.

For refis of the same type during the week of 2024-10-24, the average rate was 6.54%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-10-24 6.54%
Mount Pleasant 30 Year Fixed Rate 2024-10-24 7.19%
Mount Pleasant 30 Year Fixed Rate Refi 2024-10-24 6.54%
Mount Pleasant 15 Year Fixed Rate 2024-10-24 5.51%
Mount Pleasant 15 Year Fixed Rate Refi 2024-10-24 6.21%
Mount Pleasant 30 Year FHA 2024-10-24 6.18%
Mount Pleasant 30 Year FHA Refi 2024-10-24 6.05%
Mount Pleasant 30 Year USDA 2024-10-24 6.49%
Mount Pleasant 30 Year USDA Refi 2024-10-24 6.29%
Mount Pleasant 30 Year VA 2024-10-24 6.04%
Mount Pleasant 30 Year VA Refi 2024-10-24 6.24%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Mount Pleasant, MI.

Mount Pleasant 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 Mount Pleasant, 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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Isabella Bank 52 6.44% $2,706
Mercantile Bank of Michigan 48 6.80% $3,567
FIRST CHOICE MH LLC 46 9.95% $2,800
The Dart Bank 25 6.98% $3,461
QUICKEN LOANS, LLC 24 6.85% $6,455
UNITED WHOLESALE MORTGAGE, LLC 13 7.39% $6,918
ACADEMY MORTGAGE CORPORATION 10 7.59% $4,929
The Huntington National Bank 9 6.90% $4,370
CROSSCOUNTRY MORTGAGE, LLC 8 6.99% $4,535
FIRST COMMUNITY MORTGAGE, INC. 7 6.80% $5,579
Independent Bank 6 6.60% $3,104
MEMBERS FIRST Credit Union 5 7.60% $2,707
MORTGAGE CENTER L.C 5 6.10% $4,015
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 5 6.63% $3,280
Fifth Third Bank 5 6.77% $2,848
CONSUMERS 4 7.03% $3,397
BM Real Estate Services, Inc. 4 7.09% $4,251
DOW CHEMICAL EMPLOYEES' 4 6.59% $3,799
Preston Home Loans Inc 3 7.04% $5,009
LAKE MICHIGAN CREDIT UNION 3 6.04% $2,719
Wildfire Credit Union 3 6.67% $2,644
GUARANTEED RATE, INC. 3 6.81% $4,235
1st State Financial, Ltd. 3 6.21% $2,064
ZILLOW HOME LOANS, LLC 2 7.56% $4,120
BLG HOLDINGS, INC. 2 7.74% $6,639
CARDINAL FINANCIAL 2 6.75% $4,025
DFCU FINANCIAL 2 6.88% $3,211
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.43% $3,255
GENISYS 2 6.94% $2,503
JPMorgan Chase Bank 2 5.63% $4,280
J. VIRGIL, INC. 2 7.00% $4,926
LEGEND LENDING CORPORATION 2 6.94% $7,047
MID AMERICA MORTGAGE, INC. 2 6.94% $3,629
MMS MORTGAGE SERVICES, LTD. 2 5.87% $3,839
Neighborhood Loans, Inc. 2 7.12% $7,403
PENNYMAC LOAN SERVICES, LLC 2 6.56% $5,074
STAUNTON FINANCIAL, INC. 2 6.75% $4,832
UNION HOME MORTGAGE CORP. 2 7.25% $5,161
First Merchants Bank 1 6.63% $3,624
AMERISAVE MORTGAGE CORPORATION 1 5.88% $5,538
LOANDEPOT.COM, LLC 1 6.63% $3,960
MEMBER FIRST MORTGAGE, LLC 1 6.88% $3,568
First Federal Bank 1 8.63% $3,779
Extra 1 6.63% $3,061
MICHIGAN FIRST CREDIT UNION 1 6.50% $2,830
MICHIGAN SCHOOLS AND GOVERNMENT 1 5.25% $1,860
EVERETT FINANCIAL, INC. 1 6.88% $3,706
The Loan Store, Inc. 1 7.63% $5,523
1st National Bank 1 6.50% $3,007
Discover Bank 1 6.24% $0
Mortgage Research Center, LLC 1 7.38% $1,953
Mr. Cooper ( Nationstar Mortgage ) 1 6.99% $5,371
MUTUAL OF OMAHA MORTGAGE, INC. 1 7.75% $5,575
NAVY FEDERAL CREDIT UNION 1 6.75% $1,747
NBKC BANK 1 6.75% $2,262
AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.63% $5,098
NEW ENGLAND FEDERAL CREDIT UNION 1 6.50% $2,153
Paramount Residential Mortgage Group, Inc. 1 7.63% $4,891
U.S. Bank 1 6.88% $713
PNC Bank 1 7.75% $3,466
PREFERRED CREDIT UNION 1 6.88% $4,398
Citibank 1 7.63% $5,062
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.63% $5,133
BROKER SOLUTIONS, INC. 1 6.63% $5,465
RUOFF MORTGAGE COMPANY, INC. 1 6.75% $6,285
GENEVA FINANCIAL, LLC 1 6.75% $4,407
21ST MORTGAGE CORPORATION 1 7.75% $4,636
FREEDOM MORTGAGE CORPORATION 1 7.50% $7,428
GUILD MORTGAGE COMPANY 1 6.63% $3,233
GVC MORTGAGE, INC. 1 7.48% $8,161
HOMEXPRESS MORTGAGE CORP. 1 8.63% $8,696
Frankenmuth Credit Union 1 8.00% $0
First State Bank 1 5.49% $3,092
SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $4,687
Bank of America 1 7.00% $1,933

Mount Pleasant Average Closing Costs & Other Stats

Mount Pleasant, MI's 75 lenders originated 903 loans during 2023. The total origination value was $130,165,000, with an average loan value of $144,147.

Mount Pleasant's average closing costs are $3,719.

The top Mount Pleasant lender as defined by loan originations is Isabella Bank, with 52 loans originated. Their average total fees are $2,706, which is $861 lower than the next largest lender, Mercantile Bank of Michigan.

The lowest fee Mount Pleasant lenders (with over 10 loans originated) are Isabella Bank ($2,706), FIRST CHOICE MH LLC ($2,800), The Dart Bank ($3,461), Mercantile Bank of Michigan ($3,567) and ACADEMY MORTGAGE CORPORATION ($4,929).

The lowest rate Mount Pleasant lenders (with over 10 loans originated) are Isabella Bank (6.44%), Mercantile Bank of Michigan (6.80%), QUICKEN LOANS, LLC (6.85%), The Dart Bank (6.98%) and UNITED WHOLESALE MORTGAGE, LLC (7.39%).

Mount Pleasant, 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
Isabella Bank $42,880,000 $28,040,000 -34.6% 21.5%
Mercantile Bank of Michigan $17,580,000 $14,940,000 -15.0% 11.5%
QUICKEN LOANS, LLC $14,050,000 $8,560,000 -39.1% 6.6%
FIRST CHOICE MH LLC $2,470,000 $4,655,000 88.5% 3.6%
ACADEMY MORTGAGE CORPORATION $6,880,000 $4,645,000 -32.5% 3.6%
The Dart Bank $2,455,000 $4,520,000 84.1% 3.5%
UNITED WHOLESALE MORTGAGE, LLC $5,270,000 $4,145,000 -21.3% 3.2%
Mortgage Research Center, LLC $4,865,000 $3,940,000 -19.0% 3.0%
The Huntington National Bank $6,270,000 $3,200,000 -49.0% 2.5%
CROSSCOUNTRY MORTGAGE, LLC $1,630,000 $2,365,000 45.1% 1.8%
Independent Bank $2,435,000 $1,565,000 -35.7% 1.2%
Fifth Third Bank $1,445,000 $1,555,000 7.6% 1.2%
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $1,050,000 $1,520,000 44.8% 1.2%
FIRST COMMUNITY MORTGAGE, INC. $1,495,000 n/a 1.1%
PNC Bank $2,665,000 $1,380,000 -48.2% 1.1%
GreenStone Farm Credit Services, FLCA $3,895,000 $1,325,000 -66.0% 1.0%
PENNYMAC LOAN SERVICES, LLC $625,000 $1,310,000 109.6% 1.0%
MID AMERICA MORTGAGE, INC. $4,990,000 $1,250,000 -74.9% 1.0%
MEMBERS FIRST Credit Union $4,575,000 $1,145,000 -75.0% 0.9%
BM Real Estate Services, Inc. $3,060,000 $1,135,000 -62.9% 0.9%
STAUNTON FINANCIAL, INC. $1,070,000 n/a 0.8%
MORTGAGE CENTER L.C $3,365,000 $1,040,000 -69.1% 0.8%
DOW CHEMICAL EMPLOYEES' $3,365,000 $1,010,000 -70.0% 0.8%
CREDIT UNION ONE $100,000 $975,000 875.0% 0.7%
Neighborhood Loans, Inc. $925,000 $975,000 5.4% 0.7%
J. VIRGIL, INC. $735,000 $935,000 27.2% 0.7%
Mr. Cooper ( Nationstar Mortgage ) $1,065,000 $915,000 -14.1% 0.7%
Wildfire Credit Union $155,000 $915,000 490.3% 0.7%
UNION HOME MORTGAGE CORP. $1,430,000 $910,000 -36.4% 0.7%
Paramount Residential Mortgage Group, Inc. $135,000 $895,000 563.0% 0.7%
1st State Financial, Ltd. $270,000 $865,000 220.4% 0.7%
CONSUMERS $590,000 $865,000 46.6% 0.7%
CARDINAL FINANCIAL $1,850,000 $785,000 -57.6% 0.6%
LAKE MICHIGAN CREDIT UNION $1,845,000 $780,000 -57.7% 0.6%
GUARANTEED RATE, INC. $665,000 n/a 0.5%
Preston Home Loans Inc $670,000 $660,000 -1.5% 0.5%
FREEDOM MORTGAGE CORPORATION $2,380,000 $600,000 -74.8% 0.5%
BLG HOLDINGS, INC. $335,000 $595,000 77.6% 0.5%
LOANDEPOT.COM, LLC $380,000 $590,000 55.3% 0.5%
MMS MORTGAGE SERVICES, LTD. $165,000 $575,000 248.5% 0.4%
MICHIGAN MUTUAL, INC. $185,000 $510,000 175.7% 0.4%
SPRING EQ, LLC $505,000 n/a 0.4%
Commercial Bank $925,000 $460,000 -50.3% 0.4%
GVC MORTGAGE, INC. $460,000 n/a 0.4%
LEGEND LENDING CORPORATION $2,000,000 $455,000 -77.3% 0.3%
AMERISAVE MORTGAGE CORPORATION $930,000 $450,000 -51.6% 0.3%
Lake Trust Credit Union $560,000 $445,000 -20.5% 0.3%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $175,000 $440,000 151.4% 0.3%
RUOFF MORTGAGE COMPANY, INC. $440,000 $435,000 -1.1% 0.3%
CALIBER HOME LOANS, INC. $235,000 $420,000 78.7% 0.3%
Flagstar Bank, FSB $2,215,000 $415,000 -81.3% 0.3%
21ST MORTGAGE CORPORATION $2,505,000 $400,000 -84.0% 0.3%
PLAZA HOME MORTGAGE, INC. $115,000 $395,000 243.5% 0.3%
AMERICAN PACIFIC MORTGAGE CORPORATION $385,000 n/a 0.3%
Frankenmuth Credit Union $320,000 $380,000 18.8% 0.3%
GREENSTATE CREDIT UNION $225,000 $380,000 68.9% 0.3%
Southern Michigan Bank & Trust $380,000 n/a 0.3%
NAVY FEDERAL CREDIT UNION $795,000 $370,000 -53.5% 0.3%
DFCU FINANCIAL $365,000 n/a 0.3%
USAA Federal Savings Bank $365,000 n/a 0.3%
ZILLOW HOME LOANS, LLC $470,000 $350,000 -25.5% 0.3%
MUTUAL OF OMAHA MORTGAGE, INC. $240,000 $340,000 41.7% 0.3%
NBKC BANK $245,000 $325,000 32.7% 0.2%
First State Bank $315,000 n/a 0.2%
TOWNE MORTGAGE COMPANY $440,000 $315,000 -28.4% 0.2%
MICHIGAN ONE COMMUNITY Credit Union $310,000 n/a 0.2%
VAN DYK MORTGAGE CORPORATION $855,000 $305,000 -64.3% 0.2%
ROSS MORTGAGE CORPORATION $300,000 n/a 0.2%
U.S. Bank $205,000 $285,000 39.0% 0.2%
UNITED FINANCIAL Credit Union $235,000 $280,000 19.1% 0.2%
PENTAGON FEDERAL CREDIT UNION $275,000 n/a 0.2%
Providence Bank & Trust $275,000 n/a 0.2%
First Federal Bank $265,000 n/a 0.2%
AMERICAN FINANCIAL RESOURCES, INC. $250,000 $260,000 4.0% 0.2%
MICHIGAN FIRST CREDIT UNION $165,000 $260,000 57.6% 0.2%
Discover Bank $85,000 $250,000 194.1% 0.2%
Bank of America $215,000 $240,000 11.6% 0.2%
GUARANTEED RATE AFFINITY, LLC $235,000 n/a 0.2%
MICHIGAN SCHOOLS AND GOVERNMENT $570,000 $225,000 -60.5% 0.2%
BROKER SOLUTIONS, INC. $370,000 $220,000 -40.5% 0.2%
NEWREZ LLC $215,000 $220,000 2.3% 0.2%
1st National Bank $215,000 n/a 0.2%
Equity Prime Mortgage LLC $295,000 $215,000 -27.1% 0.2%
MEMBER FIRST MORTGAGE, LLC $85,000 $215,000 152.9% 0.2%
NEW DAY FINANCIAL, LLC $565,000 $215,000 -61.9% 0.2%
JPMorgan Chase Bank $900,000 $210,000 -76.7% 0.2%
Ally Bank $155,000 $205,000 32.3% 0.2%
GENISYS $85,000 $205,000 141.2% 0.2%
AMCAP MORTGAGE, LTD. $195,000 n/a 0.1%
HOMESTAR FINANCIAL CORPORATION $165,000 $195,000 18.2% 0.1%
MORTGAGE 1 INCORPORATED $410,000 $195,000 -52.4% 0.1%
PRIMELENDING, A PLAINSCAPITAL COMPANY $595,000 $195,000 -67.2% 0.1%
Citibank $260,000 $175,000 -32.7% 0.1%
GENEVA FINANCIAL, LLC $1,030,000 $175,000 -83.0% 0.1%
PREFERRED CREDIT UNION $145,000 $170,000 17.2% 0.1%
HOMEXPRESS MORTGAGE CORP. $155,000 n/a 0.1%
UNIVERSITY OF MICHIGAN CREDIT UNION $65,000 $150,000 130.8% 0.1%
ARBOR FINANCIAL CREDIT UNION $220,000 $145,000 -34.1% 0.1%
First Merchants Bank $735,000 $145,000 -80.3% 0.1%
Horizon Bank $145,000 n/a 0.1%
PRIMARY RESIDENTIAL MORTGAGE, INC. $165,000 $145,000 -12.1% 0.1%
RELIANCE FIRST CAPITAL, LLC $125,000 $145,000 16.0% 0.1%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $510,000 $135,000 -73.5% 0.1%
HOMESIDE FINANCIAL, LLC $135,000 $135,000 0.0% 0.1%
RIVER VALLEY CREDIT UNION $105,000 $130,000 23.8% 0.1%
EVERETT FINANCIAL, INC. $125,000 n/a 0.1%
GUILD MORTGAGE COMPANY $125,000 n/a 0.1%
The Loan Store, Inc. $125,000 n/a 0.1%
COMMUNITY FIRST $365,000 $115,000 -68.5% 0.1%
Extra $115,000 n/a 0.1%
MARSHALL COMMUNITY CREDIT UNION $115,000 n/a 0.1%
VILLAGE CAPITAL MORTGAGE $325,000 $115,000 -64.6% 0.1%
CMG MORTGAGE, INC. $105,000 n/a 0.1%
Great Lakes Federal Credit Union $105,000 n/a 0.1%
SUCCESS MORTGAGE PARTNERS, INC. $830,000 $105,000 -87.3% 0.1%
Barrington Bank & Trust Company, N.A. $95,000 n/a 0.1%
SUN WEST MORTGAGE COMPANY, INC. $95,000 n/a 0.1%
Coastal Community Bank $90,000 n/a 0.1%
ADVANTAGE ONE Credit Union $85,000 n/a 0.1%
AMERICAN HERITAGE LENDING, INC. $270,000 $85,000 -68.5% 0.1%
ChoiceOne Bank $85,000 n/a 0.1%
LENDINGHOME FUNDING CORPORATION $55,000 $85,000 54.5% 0.1%
The Federal Savings Bank $85,000 n/a 0.1%
NEW ENGLAND FEDERAL CREDIT UNION $65,000 n/a 0.0%
United Bay Community Credit Union $45,000 n/a 0.0%
Wells Fargo Bank $1,090,000 $45,000 -95.9% 0.0%
Figure Lending LLC $35,000 $25,000 -28.6% 0.0%

Mount Pleasant's top lender by overall market share is Isabella Bank, with 21.5% market share. In second place, with 11.5%, is Mercantile Bank of Michigan, having originated $14,940,000 in loans. In third place, with 6.6%, is QUICKEN LOANS, LLC, having originated $8,560,000 in loans. In fourth place, with 3.6%, is FIRST CHOICE MH LLC, having originated $4,655,000 in loans. In fifth place, with 3.6%, is ACADEMY MORTGAGE CORPORATION, having originated $4,645,000 in loans.

Mount Pleasant, MI Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 563 $96,485,000 $171,377
Home Improvement 101 $6,455,000 $63,911
Cash Out Refi 85 $11,765,000 $138,412
Other 77 $6,575,000 $85,390
Refi 77 $8,885,000 $115,390

Mount Pleasant's most frequently cited loan purpose was Home Purchase, with 563 originations. The 2nd most popular reason was Home Improvement, with 101 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 353 $58,165,000 $164,773
7-8% 210 $33,130,000 $157,762
Over 8% 167 $14,635,000 $87,635
5-6% 97 $16,715,000 $172,320
<2.5% 5 $35,000 $7,000

During 2023, Mount Pleasant's most frequently originated rate bucket was 6-7%, with 353 originations.

Loan Sizing (Mount Pleasant, MI MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 374 $53,060,000 $141,872
$100,000 or less 325 $18,295,000 $56,292
$200k-400k 182 $47,190,000 $259,286
$400k-600k 18 $8,230,000 $457,222
$600k-1000k 3 $2,355,000 $785,000
$Over $1MM 1 $1,035,000 $1,035,000

Mount Pleasant's loan sizing saw the bucket of loans from $100k-200k with 374 originations, totaling $53,060,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 366 $70,670,000 $193,087
60-80% 202 $32,510,000 $160,941
20-40% 87 $5,855,000 $67,299
Under 20% 80 $2,900,000 $36,250
40-60% 74 $8,480,000 $114,595
Over 100% 3 $965,000 $321,667

Mount Pleasant's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 366 originations, totaling $70,670,000 in origination value.