MUSKEGON Mortgage Rates
30 Year Fixed Rate mortgages in Muskegon averaged
3.3%
for the week of 2021-11-24, compared to the national average of
3.1% for the same period.
The average rate for the prior week (2021-11-18) was
3.3% and
one month ago for the week of 2021-10-21, the
average rate was 3.29%.
Muskegon's average rate one year ago was 3.22%.
For refis of the same type during the week of 2021-11-24, the average rate
was 3.36%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2021-11-24 | 3.1% |
| Muskegon 30 Year Fixed Rate | 2021-11-24 | 3.3% |
| Muskegon 30 Year Fixed Rate Refi | 2021-11-24 | 3.36% |
| Muskegon 15 Year Fixed Rate | 2021-11-24 | 3.18% |
| Muskegon 15 Year Fixed Rate Refi | 2021-11-24 | 2.86% |
| Muskegon 30 Year FHA | 2021-11-24 | 3.68% |
| Muskegon 30 Year FHA Refi | 2021-11-24 | 3.7% |
| Muskegon 30 Year USDA | 2021-11-24 | 3.48% |
| Muskegon 30 Year USDA Refi | 2021-11-24 | 3.25% |
| Muskegon 30 Year VA | 2021-11-24 | 3.41% |
| Muskegon 30 Year VA Refi | 2021-11-24 | 3.04% |
MUSKEGON Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lendor, for only loans originated in the MUSKEGON, 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.).
MUSKEGON, MI's 152 lenders originated 6,696
loans during 2020. The total origination value was $1,062,730,000, with an average loan value of
$158,711.
The top MUSKEGON lender as defined by loan originations is LAKE MICHIGAN CREDIT UNION, with
556 loans originated. Their average total fees are
$2,668, which is $399
lower than the next largest lender,
MORTGAGE 1 INCORPORATED.
The lowest fee MUSKEGON lenders (with over 10 loans originated) are
PNC Bank, National Association ($1,163), AAC Credit Union ($1,904), HARBORLIGHT ($1,993), MORTGAGE CENTER L.C ($2,172) and ChoiceOne Bank ($2,173).
The lowest rate MUSKEGON lenders (with over 10 loans originated) are
AMERISAVE MORTGAGE CORPORATION (2.86%), T2 FINANCIAL LLC (3.24%), TCF National Bank (3.24%), Northpointe Bank (3.25%) and Neighborhood Loans, Inc. (3.29%).
MUSKEGON, MI Lender 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 | 2019 Loan Value | 2020 Loan Value | % Change | 2020 Market Share |
|---|---|---|---|---|
| Lake Michigan Credit Union | $121,100,000 | $184,875,000 | 52.7% | 17.4% |
| Mortgage 1 Incorporated | $64,440,000 | $100,430,000 | 55.9% | 9.5% |
| Quicken Loans | $39,405,000 | $70,855,000 | 79.8% | 6.7% |
| Huntington National Bank | $48,655,000 | $55,605,000 | 14.3% | 5.2% |
| Fifth Third Bank | $45,325,000 | $52,095,000 | 14.9% | 4.9% |
| VanDyk Mortgage Corporation | $21,915,000 | $43,860,000 | 100.1% | 4.1% |
| Towne Mortgage Company | $28,405,000 | $35,825,000 | 26.1% | 3.4% |
| PNC BANK NA | $23,560,000 | $25,520,000 | 8.3% | 2.4% |
| Independent Bank | $14,105,000 | $23,910,000 | 69.5% | 2.2% |
| ChoiceOne Bank | $9,885,000 | $18,900,000 | 91.2% | 1.8% |
| TCF National Bank | $8,235,000 | $18,440,000 | 123.9% | 1.7% |
| Arbor Realty Trust Inc | $18,405,000 | n/a | 1.7% | |
| Freedom Mortgage Corporation | $5,080,000 | $18,155,000 | 257.4% | 1.7% |
| Caliber Home Loans Inc | $10,850,000 | $17,430,000 | 60.6% | 1.6% |
| United Shore Financial Services LLC | $17,040,000 | $15,605,000 | -8.4% | 1.5% |
| Shelby State Bank | $6,195,000 | $15,545,000 | 150.9% | 1.5% |
| Northpointe Bank | $7,590,000 | $15,530,000 | 104.6% | 1.5% |
| JPMorgan Chase Bank, NA | $12,200,000 | $12,790,000 | 4.8% | 1.2% |
| WALKER & DUNLOP, LLC | $3,675,000 | $12,375,000 | 236.7% | 1.2% |
| Envoy Mortgage Ltd. | $9,170,000 | $12,240,000 | 33.5% | 1.2% |
| Neighborhood Loans | $7,130,000 | $11,835,000 | 66.0% | 1.1% |
| T2 Financial LLC | $10,445,000 | n/a | 1.0% | |
| Finance of America Mortgage LLC | $3,425,000 | $9,785,000 | 185.7% | 0.9% |
| HarborLight Credit Union | $10,130,000 | $8,045,000 | -20.6% | 0.8% |
| Ark-La-Tex Financial Services LLC | $5,050,000 | $7,370,000 | 45.9% | 0.7% |
| Mercantile Bank of Michigan | $3,885,000 | $7,270,000 | 87.1% | 0.7% |
| Nationstar Mortgage | $4,490,000 | $7,250,000 | 61.5% | 0.7% |
| Mortgage Research Center LLC | $7,475,000 | $6,925,000 | -7.4% | 0.7% |
| First General Credit Union | $720,000 | $6,810,000 | 845.8% | 0.6% |
| Bank of America NA | $3,570,000 | $6,250,000 | 75.1% | 0.6% |
| COMERICA BANK | $6,420,000 | $5,895,000 | -8.2% | 0.6% |
| loanDepot LLC | $5,335,000 | $5,870,000 | 10.0% | 0.6% |
| Old National Bank | $3,675,000 | $5,845,000 | 59.0% | 0.5% |
| WELLS FARGO BANK NA | $4,750,000 | $4,890,000 | 2.9% | 0.5% |
| Northern Mortgage Services, LLC | $2,910,000 | $4,605,000 | 58.2% | 0.4% |
| Flagstar Bank | $5,525,000 | $4,495,000 | -18.6% | 0.4% |
| Success Mortgage Partners Inc. | $4,590,000 | $4,335,000 | -5.6% | 0.4% |
| AAC Credit Union | $2,540,000 | $4,130,000 | 62.6% | 0.4% |
| GreenStone Farm Credit Services | $1,600,000 | $3,980,000 | 148.8% | 0.4% |
| Amerisave Mortgage Corporation | $230,000 | $3,790,000 | 1,547.8% | 0.4% |
| Clearpath Lending | $2,275,000 | $3,755,000 | 65.1% | 0.4% |
| Member First Mortgage LLC | $5,275,000 | $3,535,000 | -33.0% | 0.3% |
| Guaranteed Rate Inc. | $2,150,000 | $3,480,000 | 61.9% | 0.3% |
| PENNYMAC LOAN SERVICES LLC | $1,460,000 | $3,275,000 | 124.3% | 0.3% |
| Union Home Mortgage Company | $1,405,000 | $3,175,000 | 126.0% | 0.3% |
| American Financial Resources Inc. | $1,520,000 | $3,115,000 | 104.9% | 0.3% |
| USAA FEDERAL SAVINGS BANK | $4,045,000 | $3,085,000 | -23.7% | 0.3% |
| Mortgage Center LLC | $2,720,000 | $3,045,000 | 11.9% | 0.3% |
| Consumers Credit Union | $1,990,000 | $3,025,000 | 52.0% | 0.3% |
| FIRST NATIONAL BANK OF AMERICA | $430,000 | $2,975,000 | 591.9% | 0.3% |
| CARRINGTON MORTGAGE SERVICES | $1,090,000 | $2,865,000 | 162.8% | 0.3% |
| Home Point Financial Corporation | $165,000 | $2,845,000 | 1,624.2% | 0.3% |
| MMS Mortgage Services, Ltd | $2,625,000 | $2,830,000 | 7.8% | 0.3% |
| Churchill Mortgage Corporation | $2,340,000 | $2,725,000 | 16.5% | 0.3% |
| PRIMELENDING | $1,255,000 | $2,565,000 | 104.4% | 0.2% |
| Adventure Credit Union | $735,000 | $2,500,000 | 240.1% | 0.2% |
| Michigan State University Federal Credit Union | $2,440,000 | $2,460,000 | 0.8% | 0.2% |
| United Bank Of Michigan | $1,155,000 | $2,395,000 | 107.4% | 0.2% |
| AmeriFirst Home Mortgage | $1,165,000 | $2,270,000 | 94.8% | 0.2% |
| NEWREZ LLC | $925,000 | $2,240,000 | 142.2% | 0.2% |
| MACATAWA BANK | $640,000 | $2,175,000 | 239.8% | 0.2% |
| Grand River Bank | $1,520,000 | $2,165,000 | 42.4% | 0.2% |
| First Guaranty Mortgage Corporation | $2,185,000 | $2,145,000 | -1.8% | 0.2% |
| Triad Financial Services Inc | $935,000 | $2,095,000 | 124.1% | 0.2% |
| VANDERBILT MORTGAGE AND FINANCE, INC | $2,025,000 | n/a | 0.2% | |
| HORIZON BANK | $1,970,000 | n/a | 0.2% | |
| 11406 | $125,000 | $1,885,000 | 1,408.0% | 0.2% |
| HomeBridge Financial Services, Inc. | $2,205,000 | $1,795,000 | -18.6% | 0.2% |
| Inlanta Mortgage | $890,000 | $1,785,000 | 100.6% | 0.2% |
| Cardinal Financial Company LP | $1,055,000 | $1,750,000 | 65.9% | 0.2% |
| AmeriHomeMortgageCompany,LL | $290,000 | $1,740,000 | 500.0% | 0.2% |
| BM REAL ESTATE SERVICES, INC. | $1,710,000 | n/a | 0.2% | |
| Citibank, N.A. | $300,000 | $1,675,000 | 458.3% | 0.2% |
| Lakeview Loan Servicing, LLC | $1,080,000 | $1,665,000 | 54.2% | 0.2% |
| DFCU Financial | $400,000 | $1,635,000 | 308.8% | 0.2% |
| New American Funding (dba for Broker Solutions Inc) | $635,000 | $1,635,000 | 157.5% | 0.2% |
| NewDay Financial LLC dba NewDay USA | $975,000 | $1,610,000 | 65.1% | 0.2% |
| NAVY FEDERAL CREDIT UNION | $2,710,000 | $1,595,000 | -41.1% | 0.2% |
| Gerber Federal Credit Union | $1,200,000 | $1,550,000 | 29.2% | 0.1% |
| Berkadia Commercial Mortgage | $1,535,000 | n/a | 0.1% | |
| The Federal Savings Bank | $1,225,000 | $1,520,000 | 24.1% | 0.1% |
| Village Capital & Investment | $1,025,000 | $1,515,000 | 47.8% | 0.1% |
| MARSHALL COMMUNITY CREDIT UNION | $1,470,000 | n/a | 0.1% | |
| Gold Star Mortgage Financial Group, Corporation | $540,000 | $1,425,000 | 163.9% | 0.1% |
| Ruoff Home Mortgage | $1,410,000 | n/a | 0.1% | |
| Credit Union One | $365,000 | $1,335,000 | 265.8% | 0.1% |
| GVC Mortgage Inc. | $1,325,000 | n/a | 0.1% | |
| Paramount Residential Mortgage Group Inc. | $590,000 | $1,285,000 | 117.8% | 0.1% |
| Royal United Mortgage LLC | $405,000 | $1,235,000 | 204.9% | 0.1% |
| top flite financial, inc. | $1,110,000 | $1,220,000 | 9.9% | 0.1% |
| Sun West Mortgage Company Inc. | $1,115,000 | n/a | 0.1% | |
| Michigan Mutual, Inc. DBA MiMutual Mortgage | $430,000 | $1,010,000 | 134.9% | 0.1% |
| Barrington Bank & Trust | $1,240,000 | $970,000 | -21.8% | 0.1% |
| Better Mortgage Corporation | $570,000 | $965,000 | 69.3% | 0.1% |
| Synergy One Lending | $560,000 | $960,000 | 71.4% | 0.1% |
| BNC NATIONAL BANK | $365,000 | $925,000 | 153.4% | 0.1% |
| Community West Credit Union | $205,000 | $925,000 | 351.2% | 0.1% |
| The Dart Bank | $385,000 | $890,000 | 131.2% | 0.1% |
| Michigan First Credit Union | $365,000 | $850,000 | 132.9% | 0.1% |
| NBKC Bank | $175,000 | $850,000 | 385.7% | 0.1% |
| Alterra Group LLC dba Alterra Home Loans | $5,145,000 | $825,000 | -84.0% | 0.1% |
| Arbor Financial Credit Union | $825,000 | n/a | 0.1% | |
| Magnolia Bank Incorporated | $205,000 | $810,000 | 295.1% | 0.1% |
| FAIRWAY INDEPENDENT MORT CORP | $730,000 | $800,000 | 9.6% | 0.1% |
| John Adams Mortgage Co. | $800,000 | $780,000 | -2.5% | 0.1% |
| Supreme Lending/ Everett Financial Inc. | $435,000 | $780,000 | 79.3% | 0.1% |
| Mortgage Lenders of America LLC | $145,000 | $775,000 | 434.5% | 0.1% |
| Isabella Bank | $340,000 | $760,000 | 123.5% | 0.1% |
| US BANK, N.A. | $350,000 | $755,000 | 115.7% | 0.1% |
| West Michigan Community Bank | $9,660,000 | $755,000 | -92.2% | 0.1% |
| CBNA | $1,025,000 | $715,000 | -30.2% | 0.1% |
| American Financial Network Inc. | $350,000 | $670,000 | 91.4% | 0.1% |
| Sturgis Bank & Trust Company | $660,000 | n/a | 0.1% | |
| Cherry Creek Mortgage Co. Inc. | $185,000 | $640,000 | 245.9% | 0.1% |
| POLARIS HOME FUNDING CORP | $500,000 | $640,000 | 28.0% | 0.1% |
| Sturgis Bank & Trust Company | $635,000 | n/a | 0.1% | |
| Angel Oak Mortgage Solutions | $615,000 | n/a | 0.1% | |
| KeyBank National Association | $595,000 | n/a | 0.1% | |
| BEST FINANCIAL CREDIT UNION | $6,055,000 | $585,000 | -90.3% | 0.1% |
| Security State Bank | $145,000 | $580,000 | 300.0% | 0.1% |
| Dow Chemical Employees Credit Union | $575,000 | n/a | 0.1% | |
| 21ST MORTGAGE | $205,000 | $570,000 | 178.0% | 0.1% |
| Plaza Home Mortgage Inc. | $145,000 | $565,000 | 289.7% | 0.1% |
| Cason Home Loans | $165,000 | $540,000 | 227.3% | 0.1% |
| Frankenmuth Credit Union | $530,000 | n/a | 0.0% | |
| Reliance First Capital LLC | $225,000 | $530,000 | 135.6% | 0.0% |
| LeaderOne Financial Corp. | $525,000 | n/a | 0.0% | |
| Oceanside Mortgage Company | $260,000 | $525,000 | 101.9% | 0.0% |
| Compass Mortgage Inc | $515,000 | n/a | 0.0% | |
| Mortgage Solutions of Colorado LLC | $165,000 | $510,000 | 209.1% | 0.0% |
| FirstBank | $85,000 | $495,000 | 482.4% | 0.0% |
| Stock Yards Bank and Trust Co | $495,000 | n/a | 0.0% | |
| Stockton Mortgage Corporation | $475,000 | n/a | 0.0% | |
| Community Choice Credit Union | $405,000 | $470,000 | 16.0% | 0.0% |
| American Financing Corporation | $375,000 | $455,000 | 21.3% | 0.0% |
| DIRECT MORTGAGE CORP | $425,000 | n/a | 0.0% | |
| Morgan Stanley Private Bank NA | $520,000 | $425,000 | -18.3% | 0.0% |
| AAG | $190,000 | $415,000 | 118.4% | 0.0% |
| Low VA Rates | $530,000 | $395,000 | -25.5% | 0.0% |
| The Anderson Financial Group Inc | $390,000 | n/a | 0.0% | |
| Nations Lending Corporation | $385,000 | n/a | 0.0% | |
| Provident Funding Associates | $165,000 | $385,000 | 133.3% | 0.0% |
| United Federal Credit Union | $330,000 | $385,000 | 16.7% | 0.0% |
| Embrace Home Loans, Inc. | $380,000 | n/a | 0.0% | |
| Plains Commerce Bank | $380,000 | n/a | 0.0% | |
| West Michigan Credit Union | $150,000 | $380,000 | 153.3% | 0.0% |
| Genisys Credit Union | $370,000 | n/a | 0.0% | |
| Level One Bank | $670,000 | $370,000 | -44.8% | 0.0% |
| Wyndham Capital Mortgage | $375,000 | $365,000 | -2.7% | 0.0% |
| Planet Home Lending LLC | $155,000 | $350,000 | 125.8% | 0.0% |
| Purdue Federal Credit Union | $345,000 | n/a | 0.0% | |
| Lake Trust Credit Union | $270,000 | $340,000 | 25.9% | 0.0% |
| ELGA Credit Union | $330,000 | n/a | 0.0% | |
| LendingHome Funding Corporation | $75,000 | $305,000 | 306.7% | 0.0% |
| Nations Direct Mortgage LLC | $305,000 | n/a | 0.0% | |
| Preferred Credit Union | $40,000 | $305,000 | 662.5% | 0.0% |
| Blue Ridge Bank, NA | $295,000 | n/a | 0.0% | |
| Guaranteed Rate Affinity LLC | $290,000 | n/a | 0.0% | |
| LIMA ONE CAPITAL, LLC | $360,000 | $285,000 | -20.8% | 0.0% |
| The Hastings City Bank | $105,000 | $285,000 | 171.4% | 0.0% |
| BOKF NA | $275,000 | n/a | 0.0% | |
| COMMERCE BANK | $275,000 | n/a | 0.0% | |
| North American Savings Bank | $470,000 | $275,000 | -41.5% | 0.0% |
| Sierra Pacific Mortgage | $405,000 | $270,000 | -33.3% | 0.0% |
| US Mortgage of Florida | $270,000 | n/a | 0.0% | |
| Bank of England | $440,000 | $265,000 | -39.8% | 0.0% |
| Summit Funding Inc. | $265,000 | n/a | 0.0% | |
| Discover Bank | $425,000 | $260,000 | -38.8% | 0.0% |
| Citizens Equity First Credit Union (CEFCU) | $35,000 | $255,000 | 628.6% | 0.0% |
| Mid-Continent Funding, Inc. | $255,000 | n/a | 0.0% | |
| Honor Credit Union | $580,000 | $250,000 | -56.9% | 0.0% |
| Luxury Mortgage Corp. | $195,000 | $250,000 | 28.2% | 0.0% |
| PHH MORTGAGE CORPORATION | $160,000 | $250,000 | 56.3% | 0.0% |
| Intercontinental Capital Group, Inc. | $285,000 | $245,000 | -14.0% | 0.0% |
| Community Financial Credit Union | $25,000 | $240,000 | 860.0% | 0.0% |
| Equity Resources Inc. | $235,000 | n/a | 0.0% | |
| New West Lending Inc. | $235,000 | n/a | 0.0% | |
| OMNI Community Credit Union | $235,000 | n/a | 0.0% | |
| Sunflower Bank, N.A. | $235,000 | n/a | 0.0% | |
| Dort Federal Credit Union | $225,000 | n/a | 0.0% | |
| M&T Bank | $220,000 | n/a | 0.0% | |
| Deere Employees Credit Union | $215,000 | n/a | 0.0% | |
| Main Street Bank | $215,000 | n/a | 0.0% | |
| PLUS RELOCATION MORTGAGE, LLC | $215,000 | n/a | 0.0% | |
| Pentagon Federal Credit Union | $165,000 | $210,000 | 27.3% | 0.0% |
| Parkside Lending LLC | $205,000 | n/a | 0.0% | |
| Mid America Mortgage Inc. | $260,000 | $195,000 | -25.0% | 0.0% |
| Nations Reliable Lending, LLC | $195,000 | n/a | 0.0% | |
| Prosperity Home Mortgage LLC | $195,000 | n/a | 0.0% | |
| Stifel Bank and Trust | $205,000 | $195,000 | -4.9% | 0.0% |
| Equity Prime Mortgage LLC | $185,000 | n/a | 0.0% | |
| First Home Bank | $185,000 | n/a | 0.0% | |
| Republic Bank & Trust Company | $185,000 | n/a | 0.0% | |
| ROSS MORTGAGE CORPORATION | $185,000 | n/a | 0.0% | |
| Michigan One Community Credit Union | $105,000 | $180,000 | 71.4% | 0.0% |
| AUSTIN CAPITAL BANK SSB | $585,000 | $175,000 | -70.1% | 0.0% |
| Hometown Equity Mortgage LLC | $175,000 | n/a | 0.0% | |
| SoFi Lending Corp | $175,000 | n/a | 0.0% | |
| Congressional Bank | $135,000 | $165,000 | 22.2% | 0.0% |
| Heartland Bank and Trust Co | $1,110,000 | $165,000 | -85.1% | 0.0% |
| Highlands Residential Mortgage Ltd | $165,000 | n/a | 0.0% | |
| Homeside Financial LLC | $260,000 | $165,000 | -36.5% | 0.0% |
| Academy Mortgage Corporation | $90,000 | $155,000 | 72.2% | 0.0% |
| PFCU | $155,000 | n/a | 0.0% | |
| Centier Bank | $175,000 | $150,000 | -14.3% | 0.0% |
| CoVantage Credit Union | $145,000 | n/a | 0.0% | |
| HSBC BANK USA, NA | $145,000 | n/a | 0.0% | |
| Mortgage Services III LLC | $145,000 | n/a | 0.0% | |
| Liberty Bank and Trust Co | $135,000 | n/a | 0.0% | |
| Pacor Mortgage Corp | $135,000 | n/a | 0.0% | |
| United Mortgage Corp | $135,000 | n/a | 0.0% | |
| BROADWAY NATIONAL BANK | $125,000 | n/a | 0.0% | |
| AMERIS BANK | $115,000 | n/a | 0.0% | |
| Liberty Home Equity Solutions, Inc. | $115,000 | n/a | 0.0% | |
| Paramount Bank | $115,000 | n/a | 0.0% | |
| Semper Home Loans, Inc | $115,000 | n/a | 0.0% | |
| BLG Holdings, Inc. DBA Simple | $110,000 | n/a | 0.0% | |
| CASE CREDIT UNION | $105,000 | n/a | 0.0% | |
| Homespire Mortgage Corporation | $110,000 | $105,000 | -4.5% | 0.0% |
| Longbridge Financial, LLC | $105,000 | n/a | 0.0% | |
| Homesite Mortgage LLC | $95,000 | n/a | 0.0% | |
| Members First Credit Union | $125,000 | $95,000 | -24.0% | 0.0% |
| SPRING EQ, LLC | $80,000 | $95,000 | 18.8% | 0.0% |
| Air Academy Federal Credit Union | $85,000 | n/a | 0.0% | |
| ALERUS FINANCIAL NA | $75,000 | n/a | 0.0% | |
| Open Mortgage LLC | $75,000 | n/a | 0.0% | |
| First Savings Bank | $315,000 | $65,000 | -79.4% | 0.0% |
| NuMark Credit Union | $65,000 | $65,000 | 0.0% | 0.0% |
| Primary Residential Mortgage Inc. | $185,000 | $45,000 | -75.7% | 0.0% |
| Star USA Federal Credit Union | $35,000 | $45,000 | 28.6% | 0.0% |
| Home Loan Investment Bank | $15,000 | n/a | 0.0% |
MUSKEGON's top lender by overall market share is Lake Michigan Credit Union, with 17.4% market share. In second place, with 9.5%, is Mortgage 1 Incorporated, having originated $100,430,000 in loans. In third place, with 6.7%, is Quicken Loans, having originated $70,855,000 in loans. In third place, with 5.2%, is Huntington National Bank, having originated $55,605,000 in loans. In third place, with 4.9%, is Fifth Third Bank, having originated $52,095,000 in loans.
MUSKEGON, MI Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 2,480 | $431,050,000 | $173,810 |
| Refi | 2,449 | $397,205,000 | $162,191 |
| Cash Out Refi | 1,211 | $192,055,000 | $158,592 |
| Home Improvement | 313 | $19,945,000 | $63,722 |
| Other | 243 | $22,475,000 | $92,490 |
Muskegon's most frequently cited loan purpose was Home Purchase, with 2,480 originations. The 2nd most popular reason was Refi, with 2,449 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 3,201 | $518,305,000 | $161,920 |
| 2.5-3% | 2,020 | $359,010,000 | $177,728 |
| 4-5% | 614 | $66,440,000 | $108,208 |
| <2.5% | 357 | $63,885,000 | $178,950 |
| 5-6% | 138 | $13,840,000 | $100,290 |
| Over 8% | 81 | $3,725,000 | $45,988 |
| 6-7% | 71 | $3,365,000 | $47,394 |
| 7-8% | 39 | $1,445,000 | $37,051 |
During 2020, Muskegon's most frequently originated rate bucket was 3-4%, with 3,201 originations.
Loan Sizing (MUSKEGON, MI MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 3,364 | $483,560,000 | $143,746 |
| $100,000 or less | 1,932 | $125,070,000 | $64,736 |
| $200k-400k | 1,235 | $318,525,000 | $257,915 |
| $400k-600k | 120 | $56,690,000 | $472,417 |
| $600k-1000k | 27 | $20,105,000 | $744,630 |
| $Over $1MM | 18 | $58,780,000 | $3,265,556 |
MUSKEGON's loan sizing saw the bucket of loans from $100k-200k with 3,364 originations, totaling $483,560,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 2,589 | $465,285,000 | $179,716 |
| 60-80% | 2,068 | $360,650,000 | $174,396 |
| 40-60% | 904 | $127,660,000 | $141,217 |
| 20-40% | 464 | $37,740,000 | $81,336 |
| Under 20% | 271 | $9,135,000 | $33,708 |
| Over 100% | 40 | $8,060,000 | $201,500 |
MUSKEGON's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 2,589 originations, totaling $465,285,000 in origination value.