Michigan Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Michigan averaged 7.12% for the week of 2024-07-03, compared to the national average of 6.95% for the same period.

The average rate for the prior week (2024-06-27) was 7.13% and one month ago for the week of 2024-05-30, the average rate was 7.1%.

Michigan's average rate one year ago was 6.78%.

For refis of the same type during the week of 2024-07-03, the average rate was 7.58%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-07-03 6.95%
Michigan 30 Year Fixed Rate 2024-07-03 7.12%
Michigan 30 Year Fixed Rate Refi 2024-07-03 7.58%
Michigan 15 Year Fixed Rate 2024-07-03 6.8%
Michigan 15 Year Fixed Rate Refi 2024-07-03 6.92%
Michigan 30 Year FHA 2024-07-03 6.74%
Michigan 30 Year FHA Refi 2024-07-03 6.66%
Michigan 30 Year USDA 2024-07-03 6.93%
Michigan 30 Year USDA Refi 2024-07-03 6.84%
Michigan 30 Year VA 2024-07-03 6.71%
Michigan 30 Year VA Refi 2024-07-03 5.47%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Michigan.

Michigan 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 Michigan 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
UNITED WHOLESALE MORTGAGE, LLC 9,550 6.95% $5,867
QUICKEN LOANS, LLC 8,216 6.84% $5,404
LAKE MICHIGAN CREDIT UNION 4,111 6.61% $3,773
The Huntington National Bank 2,184 6.76% $4,095
Flagstar Bank, FSB 1,883 6.96% $4,345
JPMorgan Chase Bank 1,845 6.79% $3,483
MORTGAGE 1 INCORPORATED 1,711 7.14% $5,024
STAUNTON FINANCIAL, INC. 1,318 6.73% $4,502
Fifth Third Bank 1,316 6.76% $3,776
UNION HOME MORTGAGE CORP. 1,314 7.23% $5,721
Neighborhood Loans, Inc. 1,249 6.94% $5,528
CROSSCOUNTRY MORTGAGE, LLC 1,227 7.10% $5,992
Independent Bank 1,215 6.79% $3,729
CONSUMERS 1,114 7.09% $3,437
The Dart Bank 1,054 6.82% $3,855
First Merchants Bank 953 6.65% $4,027
Mercantile Bank of Michigan 888 6.80% $4,024
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 804 6.53% $3,841
MICHIGAN SCHOOLS AND GOVERNMENT 797 5.80% $2,756
MICHIGAN MUTUAL, INC. 757 6.96% $5,611
MORTGAGE CENTER L.C 719 6.33% $3,756
GUARANTEED RATE, INC. 714 6.82% $4,621
First State Bank 675 6.47% $3,694
Bank of America 665 6.32% $2,466
DFCU FINANCIAL 665 6.74% $4,222
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 621 7.05% $5,129
CALIBER HOME LOANS, INC. 612 6.66% $4,998
NEWREZ LLC 608 7.24% $5,492
GENISYS 579 6.66% $3,366
MICHIGAN FIRST CREDIT UNION 482 7.27% $3,961
SUCCESS MORTGAGE PARTNERS, INC. 482 6.80% $6,893
Citizens Bank 451 6.54% $4,546
J. VIRGIL, INC. 447 6.88% $5,533
FIRST COMMUNITY MORTGAGE, INC. 445 7.01% $5,392
PNC Bank 417 6.78% $3,950
Preston Home Loans Inc 413 7.00% $5,604
OAK MORTGAGE, LLC 385 6.82% $3,219
ROSS MORTGAGE CORPORATION 382 6.92% $4,902
Frankenmuth Credit Union 359 6.89% $2,830
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 357 6.85% $5,039
CHURCHILL MORTGAGE CORPORATION 354 7.04% $4,968
NORTHERN MORTGAGE SERVICES, LLC 345 6.97% $6,269
ChoiceOne Bank 344 6.88% $3,230
RUOFF MORTGAGE COMPANY, INC. 342 6.87% $3,991
PRIMELENDING, A PLAINSCAPITAL COMPANY 340 7.00% $6,052
UNITED 329 6.94% $3,948
Old National Bank 329 6.70% $3,596
EVERETT FINANCIAL, INC. 324 6.87% $4,920
ARK-LA-TEX FINANCIAL SERVICES, LLC. 314 7.08% $5,328
PULTE MORTGAGE LLC 305 6.35% $3,087
Mr. Cooper ( Nationstar Mortgage ) 304 6.84% $7,467
Wells Fargo Bank 298 6.50% $4,264
ARBOR FINANCIAL CREDIT UNION 294 6.24% $3,659
VAN DYK MORTGAGE CORPORATION 270 6.95% $3,581
COMMUNITY FINANCIAL CREDIT UNION 265 6.95% $3,008
GUILD MORTGAGE COMPANY 264 7.07% $4,752
U.S. Bank 263 6.70% $4,027
Northpointe Bank 261 7.01% $5,344
DAS Acquisition Company, LLC 260 6.96% $5,541
LOANDEPOT.COM, LLC 246 6.91% $6,072
PENNYMAC LOAN SERVICES, LLC 246 6.74% $5,768
DOW CHEMICAL EMPLOYEES' 233 7.54% $3,290
University Bank 229 6.83% $4,588
BROKER SOLUTIONS, INC. 211 7.11% $6,053
CREDIT UNION ONE 211 6.65% $2,943
GVC MORTGAGE, INC. 207 7.09% $6,004
Horizon Bank 201 7.12% $3,519
Macatawa Bank 199 6.18% $3,145
MMS MORTGAGE SERVICES, LTD. 196 6.67% $4,084
Isabella Bank 189 6.45% $2,709
UIF CORPORATION 189 6.99% $4,218
PROVIDENT FUNDING ASSOCIATES, L.P. 186 6.49% $4,319
NAVY FEDERAL CREDIT UNION 183 6.92% $3,624
The State Bank 182 6.95% $3,126
AMERISAVE MORTGAGE CORPORATION 172 6.56% $7,525
Nicolet National Bank 170 7.15% $3,269
CARDINAL FINANCIAL 169 7.19% $5,505
ACADEMY MORTGAGE CORPORATION 167 7.14% $5,342
UNIVERSITY OF MICHIGAN CREDIT UNION 157 6.57% $3,022
Morgan Stanley Private Bank 157 6.07% $3,704
AMERICAN FINANCIAL NETWORK, INC. 156 7.04% $6,000
TOWNE MORTGAGE COMPANY 153 6.91% $4,805
Honor Credit Union 152 6.85% $3,513
The Loan Store, Inc. 151 7.05% $6,541
MUTUAL OF OMAHA MORTGAGE, INC. 151 6.90% $6,328
Wildfire Credit Union 149 6.39% $2,453
County National Bank 149 6.94% $4,303
United Bank of Michigan 146 6.43% $2,376
PLAZA HOME MORTGAGE, INC. 145 7.18% $5,982
BLG HOLDINGS, INC. 144 7.00% $5,886
Comerica Bank 142 6.96% $3,093
TLC COMMUNITY Credit Union 137 6.70% $2,739
Range Bank 133 6.92% $3,194
Dort Financial Credit Union 132 6.44% $2,870
First Federal Bank of the Midwest 129 6.85% $3,614
ZILLOW HOME LOANS, LLC 127 7.09% $4,927
IncredibleBank 125 6.89% $2,943
M/I FINANCIAL, LLC 124 6.18% $8,303
Kellogg Community Credit Union 120 7.05% $2,739
MOVEMENT MORTGAGE, LLC 119 7.02% $5,103
TEAM ONE CREDIT UNION 119 6.71% $1,399
Bank of Ann Arbor 118 6.28% $3,547
1st State Financial, Ltd. 113 6.43% $2,566
Mortgage Research Center, LLC 111 6.71% $4,189
CMG MORTGAGE, INC. 109 6.69% $5,676
MARSHALL COMMUNITY CREDIT UNION 100 6.60% $2,582
PFCU 100 6.75% $2,898
HOMESITE MORTGAGE, LLC 99 6.78% $9,088
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 99 7.12% $6,125
MEMBER FIRST MORTGAGE, LLC 98 6.69% $3,656
KeyBank 93 6.82% $3,800
Ally Bank 92 6.46% $4,980
Plains Commerce Bank 91 6.92% $5,550
OMNI Community Credit Union 85 6.88% $3,893
PREMIA MORTGAGE, LLC 85 6.62% $1,309
Polish-American Federal Credit Union 84 5.33% $2,859
FIRST CHOICE MH LLC 82 9.87% $2,783
FREEDOM MORTGAGE CORPORATION 82 6.99% $7,312
Dearborn Federal Savings Bank 81 6.23% $2,743
FINANCIAL PLUS CREDIT UNION 80 6.72% $2,774
First Savings Bank 79 6.75% $5,391
ROYAL UNITED MORTGAGE LLC 78 7.14% $7,431
THE MORTGAGE LINK, INC. 77 7.44% $5,789
VIBE CREDIT UNION 75 6.21% $4,085
TOP FLITE FINANCIAL, INC. 74 6.91% $8,247
LAFCU 74 6.03% $3,521
AMERICAN PACIFIC MORTGAGE CORPORATION 74 7.27% $6,475
USAA Federal Savings Bank 72 6.69% $5,101
BETTER MORTGAGE CORPORATION 72 6.46% $4,760
HOMESIDE FINANCIAL, LLC 68 7.06% $5,419
NexBank 67 7.15% $5,892
BM Real Estate Services, Inc. 67 7.12% $5,485
HOWARD HANNA FINANCIAL SERVICES, INC. 66 6.61% $4,756
Discover Bank 64 7.29% $0
GreenStone Farm Credit Services, FLCA 61 7.37% $5,893
Prosperity Home Mortgage, LLC 61 7.07% $5,259
GENEVA FINANCIAL, LLC 60 7.08% $6,506
CONTOUR MORTGAGE CORPORATION 60 6.68% $6,503
SUMMIT HOME MORTGAGE, LLC 60 7.03% $4,081
Citibank 60 5.74% $5,649
CoVantage Credit Union 56 6.68% $3,178
1st Source Bank 55 6.30% $3,737
T2 FINANCIAL LLC 54 7.06% $6,508
Sunflower Bank 54 7.12% $4,421
GUIDANCE RESIDENTIAL, LLC 53 7.13% $4,683
PHH Mortgage Corporation 52 6.95% $6,230
GUARANTEED RATE AFFINITY, LLC 52 6.92% $4,022
MEMBERFOCUS COMMUNITY 51 5.72% $3,177
NATIONAL COOPERATIVE BANK, N.A. 50 7.05% $3,867
Directions Credit Union, Inc. 50 6.58% $1,061
SECURITY CREDIT UNION 49 6.83% $2,563
TBI MORTGAGE COMPANY 49 6.53% $11,087
THE ANDERSON FINANCIAL GROUP, INC. 49 6.87% $3,998
GSF Mortgage Corporation 48 6.29% $4,039
DELMAR FINANCIAL COMPANY 48 6.89% $4,223
Stifel Bank and Trust 47 5.95% $2,822
Circle Federal Credit Union 47 6.89% $3,148
STOCKTON MORTGAGE CORPORATION 46 6.89% $7,361
Waterstone Mortgage Corporation 46 7.09% $5,086
Bank of England 46 7.02% $5,040
UBS Bank USA 46 6.15% $4,483
NBKC BANK 46 6.75% $3,364
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 44 7.01% $5,209
CORNERSTONE HOME LENDING, INC. 43 7.00% $5,853
INSPIRE HOME LOANS INC. 43 6.20% $4,250
LEGEND LENDING CORPORATION 43 6.68% $6,637
Nations Lending Corporation 42 6.45% $5,475
DRAPER AND KRAMER MORTGAGE CORP. 41 7.02% $4,531
AMERICAN PORTFOLIO MORTGAGE CORPORATION 41 6.66% $3,513
PLANET HOME LENDING, LLC 39 6.81% $6,475
First National Bank of America 39 10.38% $7,646
Barrington Bank & Trust Company, N.A. 38 7.27% $5,180
EMM LOANS LLC 38 7.04% $5,798
Adventure Credit Union 37 6.10% $3,114
MID AMERICA MORTGAGE, INC. 37 6.68% $6,201
Platinum Home Mortgage Corporation 36 6.63% $5,542
PROPER RATE, LLC 35 7.25% $5,802
Pacor Mortgage Corp 35 6.76% $4,673
Carrington Mortgage Services, LLC 35 6.56% $7,028
AmeriHome Mortgage Company, LLC 34 7.13% $4,835
LEADERONE FINANCIAL CORPORATION 34 6.96% $4,761
First Federal Savings and Loan Association of Lakewood 34 7.18% $4,583
Raymond James Bank 32 5.91% $3,267
HALLMARK HOME MORTGAGE, LLC 32 7.02% $4,633
MEMBERS FIRST Credit Union 32 6.88% $2,207
BAY EQUITY LLC 31 6.77% $5,040
EQUITY RESOURCES, INC. 31 6.71% $4,086
ENVOY MORTGAGE, LTD 31 6.72% $5,138
Extra 31 7.27% $3,629
ALLIANCE CATHOLIC CREDIT UNION 30 7.05% $4,168
Notre Dame Federal Credit Union Corporation 30 6.92% $3,735
American Mortgage & Equity Consultants, Inc. 30 6.80% $5,169
AAC Credit Union 29 7.06% $2,657
HOMESTAR FINANCIAL CORPORATION 29 6.84% $4,382
Paramount Residential Mortgage Group, Inc. 28 7.16% $6,094
Century Mortgage Company DBA Century Lending Company 28 7.01% $8,164
NATIONS DIRECT MORTGAGE, LLC 27 8.02% $8,247
Michigan Legacy Credit Union 27 5.77% $2,669
Cornerstone First Mortgage, Inc 27 7.09% $6,203
BMO Harris Bank 26 6.54% $5,169
RBC Bank, (Georgia) 26 6.00% $2,593
AMERICAN FINANCING CORPORATION 26 6.57% $5,877
Community West Credit Union 25 7.09% $4,604
WINGS FINANCIAL 25 5.92% $3,478
MICHIGAN ONE COMMUNITY Credit Union 25 6.64% $4,654
TEACHERS CREDIT UNION 24 7.06% $3,327
DEEPHAVEN MORTGAGE LLC 24 8.85% $11,792
HEALTH ADVANTAGE FEDERAL CREDIT UNION 23 6.83% $3,007
FinancialEdge Community Credit Union 22 7.26% $2,329
OCMBC, INC. 22 8.57% $10,024
Union Bank 21 5.89% $2,776
The Federal Savings Bank 21 6.80% $6,809
Associated Bank 21 6.59% $4,160
MORTGAGE ACCESS CORP. 20 6.88% $6,642
PENTAGON FEDERAL CREDIT UNION 20 6.31% $3,717
DIGITAL Federal Credit Union 20 5.84% $3,655
LAKEVIEW LOAN SERVICING, LLC 20 6.92% $6,761
HOMEBRIDGE FINANCIAL SERVICES, INC. 19 7.41% $8,420
Charles Schwab Bank, SSB 19 6.16% $4,301
FIRST CENTENNIAL MORTGAGE CORPORATION 19 6.69% $4,175
GREENSTATE CREDIT UNION 19 6.75% $3,897
RELIANCE FIRST CAPITAL, LLC 18 7.08% $7,161
GUARANTY HOME MORTGAGE CORPORATION 18 6.70% $4,835
SIRVA MORTGAGE, INC. 18 6.81% $1,334
Servion, Inc. 18 7.03% $3,352
ADVANTAGE ONE Credit Union 18 6.85% $3,272
Truist 17 6.64% $4,170
HOMEXPRESS MORTGAGE CORP. 17 8.75% $9,955
ANGEL OAK MORTGAGE SOLUTIONS LLC 17 8.76% $14,119
NEXERA HOLDING LLC 17 8.67% $12,792
MONROE COUNTY COMMUNITY CREDIT UNION 16 7.20% $2,657
St James Mortgage Corporation 15 6.48% $1,772
SUNRISE FAMILY CREDIT UNION 15 6.98% $3,028
INTERRA CREDIT UNION 15 6.23% $2,871
NFM, INC. 14 7.25% $6,425
US MORTGAGE CORPORATION 14 6.50% $5,850
LENDSURE MORTGAGE CORP. 14 8.48% $11,170
Commerce Home Mortgage, Inc. 14 8.52% $15,319
PREFERRED CREDIT UNION 14 6.82% $4,544
COMPASS MORTGAGE, INC. 14 7.24% $6,384
NEW ENGLAND FEDERAL CREDIT UNION 13 6.58% $3,488
FIRST COLONY MORTGAGE CORPORATION 13 7.38% $5,991
Public Service Credit Union 13 6.99% $3,595
TJC Mortgage, Inc. 13 6.89% $7,205
CIBC Bank USA 13 6.37% $4,023
Citadel Servicing Corporation 12 9.55% $17,668
North American Savings Bank, F.S.B. 12 7.41% $3,565
Summit Credit Union 12 6.52% $2,727
West Michigan Credit Union 12 6.69% $4,157
NATIONS RELIABLE LENDING, LLC 12 6.68% $6,704
HOMESTEAD FUNDING CORP. 11 6.41% $5,342
UNITED HOME LOANS, INC. 11 7.45% $6,031
Total Community Credit Union 11 6.58% $2,646
ARC HOME LLC 11 7.92% $7,976
VANDERBILT MORTGAGE AND FINANCE, INC. 11 6.66% $4,080
Union Savings Bank 11 6.44% $3,279
UNITED FINANCIAL Credit Union 11 6.67% $2,707
Baxter Credit Union 10 6.94% $3,790
NATIONWIDE MORTGAGE BANKERS, INC. 10 6.96% $7,008
Bethpage Federal Credit Union 10 6.58% $3,994
CHERRY CREEK MORTGAGE, LLC 10 6.81% $660
Farmers Bank & Trust 10 6.59% $4,142
21ST MORTGAGE CORPORATION 10 8.48% $4,701
First Federal Bank 9 6.89% $3,323
The Genoa Banking Company 9 6.58% $3,665
The State Bank and Trust Company 9 6.75% $5,203
Auto Club Trust, FSB 9 6.10% $3,345
CIBM Bank 9 6.89% $3,799
First Federal Savings Bank 9 7.26% $4,450
M&T Bank 9 6.89% $4,514
ALLIANT CREDIT UNION 9 6.75% $4,260
Regions Bank 9 6.63% $4,108
PLUS RELOCATION MORTGAGE, LLC 9 6.93% $6,732
Ixonia Bank 9 7.04% $6,101
Meijer Credit Union 9 7.76% $3,938
A&D Mortgage LLC 8 8.92% $10,373
Arvest Bank 8 6.47% $6,374
LOANPAL, LLC 8 6.40% $5,217
Summit Mortgage Corporation 8 7.09% $3,746
LAND HOME FINANCIAL SERVICES, INC. 8 7.09% $4,054
CANOPY MORTGAGE, LLC 8 7.43% $4,211
Colonial Savings, F.A. 8 6.63% $6,122
NMSI, INC. 8 7.77% $8,963
PURDUE FEDERAL CREDIT UNION 8 6.66% $4,984
INOVA FEDERAL CREDIT UNION 7 6.43% $2,701
COMMUNITY MORTGAGE FUNDING, LLC 7 6.75% $4,345
South Metro Federal Credit Union 7 6.02% $3,704
ELGA CREDIT UNION 7 7.45% $3,695
EMBRACE HOME LOANS, INC. 7 6.93% $4,409
Civista Bank 7 6.77% $3,632
Bell Bank 7 7.21% $6,463
POLARIS HOME FUNDING CORP. 6 6.52% $5,511
ALLIED MORTGAGE GROUP, INC. 6 6.79% $4,001
Armed Forces Bank 6 7.17% $5,414
BNY Mellon 6 6.06% $4,612
Encompass Lending Group, LP 6 6.96% $4,454
Equity Prime Mortgage LLC 6 7.17% $5,737
First Financial Bank 6 7.27% $4,055
FOUNDATION MORTGAGE CORPORATION 6 9.73% $18,686
Goldman Sachs Bank USA 6 6.15% $5,144
HSBC BANK USA, NATIONAL ASSOCIATION 6 6.33% $3,998
Lake City Bank 6 6.69% $3,651
LIBERTY HOME MORTGAGE CORPORATION 6 7.00% $7,244
ON Q FINANCIAL, INC. 6 7.48% $6,011
Quontic Bank 6 8.40% $8,151
RIVER VALLEY CREDIT UNION 6 6.37% $3,243
SUN WEST MORTGAGE COMPANY, INC. 6 7.16% $7,603
The Central Trust Bank 6 6.71% $3,324
The Farmers & Merchants State Bank 6 6.65% $6,039
Three Rivers Federal Credit Union 6 7.48% $3,576
V.I.P. MORTGAGE, INC. 6 6.69% $6,504
Bankers' Bank 5 7.13% $2,962
THRIVE MORTGAGE, LLC 5 6.95% $4,281
First American Bank 5 7.35% $3,437
Farmers State Bank 5 7.31% $3,490
MORIA DEVELOPMENT, INC. 5 6.67% $5,393
CREDIT UNION MORTGAGE ASSOCIATION, INC. 5 6.18% $4,014
Northwest Bank 5 6.10% $4,885
KELLER MORTGAGE, LLC 5 6.40% $6,578
FOX COMMUNITIES 5 6.58% $2,053
Elements Financial Federal Credit Union 5 6.33% $3,432
Toyota Financial Savings Bank 5 6.66% $5,073
General Mortgage Capital Corporation 5 6.90% $4,831
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 6.47% $6,136
SUMMIT FUNDING, INC. 5 6.97% $13,387
Warsaw Federal Savings and Loan Association 5 6.91% $5,748
SUN Federal Credit Union 5 5.63% $2,459
Centier Bank 5 7.05% $2,874
Hometown Equity Mortgage, LLC 5 6.98% $5,078
Semper Home Loans, Inc. 4 6.53% $4,661
The Union Bank Company 4 7.34% $5,328
BAYSHORE MORTGAGE FUNDING, LLC 4 6.72% $5,805
PREMIER MORTGAGE RESOURCES, L.L.C. 4 7.28% $6,179
Peoples State Bank 4 6.19% $2,376
Sierra Pacific Mortgage Company, Inc. 4 7.34% $7,316
Ameris Bank 4 6.72% $14,626
ProFed Federal Credit Union 4 7.44% $3,006
First State Bank of Middlebury 4 7.31% $3,547
AMCAP MORTGAGE, LTD. 4 7.09% $4,648
BAY-VALLEY MORTGAGE GROUP 4 6.91% $5,207
City National Bank 4 5.72% $4,651
Beeline Loans, Inc. 4 6.66% $4,874
KALSEE CREDIT UNION 4 6.72% $3,601
Lake Huron Credit Union 4 7.28% $3,890
Deere Employees Credit Union 4 6.53% $3,574
S1L, Inc. 4 6.63% $5,327
Meridian Bank Corporation 3 7.17% $8,399
CORNERSTONE COMMUNITY FINANCIAL 3 7.54% $3,695
Key Mortgage Services, Inc. 3 7.63% $5,181
KENT COUNTY CREDIT UNION 3 7.17% $6,878
KINECTA 3 6.54% $5,608
CITY FIRST MORTGAGE SERVICES, L.L.C. 3 7.37% $6,665
Strong Home Mortgage, LLC 3 6.96% $1,988
MJW Financial LLC 3 7.12% $4,372
Gold Coast Bank 3 6.29% $6,078
HOMEOWNERS FINANCIAL GROUP USA, LLC 3 7.08% $6,104
ADVANCIAL 3 7.83% $7,262
SWBC MORTGAGE CORPORATION 3 7.25% $2,717
Michigan Educational Credit Union 3 6.63% $5,751
Busey Bank 3 5.83% $3,090
WRIGHT-PATT CREDIT UNION, INC. 3 7.50% $3,163
Florida Capital Bank 3 6.87% $4,931
Johnson Bank 3 6.17% $3,345
Family First Credit Union 3 8.22% $2,479
First Internet Bank of Indiana 3 5.96% $3,203
TRIAD FINANCIAL SERVICES, INC. 3 8.17% $4,928
MEMBERS 1ST FEDERAL CREDIT UNION 3 5.67% $3,461
UNIFY FINANCIAL Credit Union 3 6.38% $382
Providence Bank & Trust 3 6.83% $3,215
GREAT LAKES 3 6.29% $4,787
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 7.75% $7,501
AMERICAN HERITAGE LENDING, INC. 3 9.04% $8,175
Alerus Financial 3 6.88% $3,829
Goldwater Bank, N.A. 3 6.21% $4,450
OAKTREE FUNDING CORP. 3 7.96% $17,246
First National Bank of Omaha 2 6.69% $3,465
PCM 2 5.87% $1,379
THRIVENT Federal Credit Union 2 6.44% $3,684
Bank Five Nine 2 7.44% $4,443
Bank First, N.A. 2 7.31% $3,147
JMAC LENDING, INC. 2 6.06% $3,307
Superior Credit Union, Inc. 2 6.13% $3,412
Community Trust Bank, Inc. 2 6.25% $3,183
FirstBank 2 6.63% $7,185
First Horizon Bank 2 5.81% $4,082
Christian Community Credit Union 2 6.31% $4,897
Forward Bank 2 6.18% $3,596
MYCUMORTGAGE, LLC 2 7.63% $3,785
Axos Bank 2 5.81% $6,303
Truity Federal Credit Union 2 6.69% $3,253
Lakeview Community Capital, LLC 2 6.50% $5,948
AXIA FINANCIAL, LLC 2 5.94% $10,128
CITYWIDE HOME LOANS, LLC 2 6.31% $5,738
State Department Federal Credit Union 2 6.31% $3,856
Connexus Credit Union 2 7.43% $2,521
Atlantic Coast Mortgage, LLC 2 6.94% $3,301
ASSEMBLIES OF GOD Credit Union 2 7.37% $3,461
Gateway First Bank 2 7.06% $4,181
INTERSTATE HOME LOAN CENTER, INC. 2 7.88% $10,965
Eagle Savings Bank 2 7.00% $2,766
Leader Bank 2 6.69% $4,669
Dollar Bank, Federal Savings Bank 2 6.25% $5,384
ONY GLO, INC. 2 7.13% $12,547
United Nations Federal Credit Union 2 6.25% $3,513
American State Bank 2 7.44% $3,501
OceanFirst Bank 2 7.31% $4,354
Shamrock Home Loans, Inc. 2 6.88% $3,746
NP, Inc. 2 8.75% $6,356
First Commonwealth Bank 2 6.37% $3,240
Amalgamated Bank 2 6.81% $4,274
AMERICAN FINANCE HOUSE LARIBA 2 6.56% $6,638
American Airlines Federal Credit Union 2 6.13% $0
BNC National Bank 2 5.81% $3,456
Blackhawk Bank 2 7.63% $3,390
COMMUNITYAMERICA 2 5.63% $3,777
Pinnacle Bank 2 6.75% $4,331
BECKAM FUNDING CORP. 2 8.56% $8,190
THE MORTGAGE FIRM, INC. 2 7.00% $4,060
THE EQUITABLE MORTGAGE CORPORATION 2 6.88% $3,298
F&M Bank 2 6.31% $2,849
Academy Bank 2 8.38% $3,484
Heritage Bank 2 6.00% $3,789
NUMARK CREDIT UNION 2 6.81% $2,609
Capitol Federal Savings Bank 2 5.06% $5,014
ILLINOIS STATE CREDIT UNION 2 6.19% $2,033
TOWER 1 6.38% $3,279
Badger Bank 1 6.50% $10,791
TRUWEST Credit Union 1 8.13% $3,651
Austin Capital Bank SSB 1 6.00% $3,156
UMB Bank 1 6.89% $3,055
ANECA Federal Credit Union 1 6.50% $8,259
AmRes Corporation 1 7.49% $5,993
AMOCO 1 7.38% $7,561
United Community Bank 1 6.95% $3,325
AMERITRUST MORTGAGE CORPORATION 1 8.13% $8,868
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 6.63% $4,209
AMERICAN INTERNET MORTGAGE, INC. 1 6.25% $3,953
AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $6,740
ABSOLUTE HOME MORTGAGE CORPORATION 1 7.99% $6,095
Watermark Capital, Inc. 1 6.99% $3,750
LCNB National Bank 1 7.75% $2,880
LAFAYETTE FEDERAL CREDIT UNION 1 5.50% $3,301
Kwik Mortgage Corporation 1 7.13% $4,516
Lend Smart Mortgage, LLC 1 6.63% $5,012
KITSAP Credit Union 1 6.38% $2,208
LENOX FINANCIAL MORTGAGE CORPORATION 1 6.63% $9,092
Marquette Bank 1 6.25% $5,822
INTERCAP LENDING INC. 1 7.38% $3,250
Merchants Bank 1 5.38% $5,871
Merchants Bank of Indiana 1 7.63% $3,314
MERCK SHARP & DOHME FEDERAL CREDIT UNION 1 6.88% $4,770
Independent Bank 1 6.75% $3,954
INB 1 6.50% $3,054
I. H. MISSISSIPPI VALLEY CREDIT UNION 1 7.50% $3,330
Horicon Bank 1 5.95% $1,934
Home State Bank 1 7.38% $3,686
Midland States Bank 1 6.00% $4,358
MIDWEST AMERICA 1 7.13% $3,404
Midwest BankCentre 1 6.13% $4,297
HOMESPIRE MORTGAGE CORPORATION 1 7.25% $3,320
MLD MORTGAGE INC. 1 8.25% $3,647
Heartland Bank and Trust Company 1 6.05% $2,099
Heartland Bank 1 7.25% $2,881
Guardian Savings Bank, A Federal Savings Bank 1 6.88% $5,615
Mortgage Bank of California 1 8.00% $6,907
Great Southern Bank 1 6.88% $2,646
MORTGAGEONE, INC. 1 7.38% $4,725
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.50% $8,246
GoPrime Mortgage, Inc. 1 6.63% $1,594
MY MORTGAGE, INC. 1 6.50% $6,210
GENERAL ELECTRIC CREDIT UNION 1 5.00% $7,985
National Exchange Bank and Trust 1 5.50% $1,614
Frontier Bank 1 6.99% $2,918
Fortifi Bank 1 6.75% $2,600
NBH Bank 1 6.62% $3,444
FORT FINANCIAL Federal Credit Union 1 6.13% $3,068
Forcht Bank 1 6.38% $3,262
NETWORK CAPITAL FUNDING CORPORATION 1 6.88% $4,419
NEW FED MORTGAGE, CORP. 1 7.50% $5,037
Flanagan State Bank 1 6.75% $6,033
First United Bank and Trust Company 1 6.88% $3,565
FIRST NORTHERN Credit Union 1 6.88% $2,821
First National Bank 1 7.25% $2,962
Northwest Bank 1 4.99% $8,089
Northwest Federal Credit Union 1 7.13% $3,463
FIRST HOME MORTGAGE CORPORATION 1 7.49% $7,150
First Federal Savings Bank 1 7.50% $2,908
Oakstar Bank 1 6.99% $9,657
First Federal Bank, A FSB 1 6.38% $7,018
Ohnward Bank & Trust 1 5.75% $3,445
First Citizens National Bank 1 7.00% $2,792
Allied First Bank,sb 1 6.49% $2,606
OPEN MORTGAGE, LLC 1 7.63% $3,854
Oregon Community Bank 1 7.13% $3,769
Orion Federal Credit Union 1 6.25% $3,939
Pacific Lending LLC 1 6.99% $9,795
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.63% $7,795
First-Citizens Bank & Trust Company 1 6.38% $4,679
PANORAMA MORTGAGE GROUP, LLC 1 6.63% $10,972
Paramount Bank 1 7.38% $6,869
PARLAY MORTGAGE & PROPERTY, INC. 1 7.38% $3,913
First Bank 1 7.38% $6,221
Petefish, Skiles & Co. 1 6.63% $3,522
FineMark National Bank & Trust 1 6.50% $2,512
Financial Partners Credit Union 1 7.13% $3,501
FINANCE OF AMERICA MORTGAGE LLC 1 6.38% $7,304
Fidelity Bank 1 7.38% $3,626
FCB Banks 1 6.88% $2,760
FBC MORTGAGE, LLC 1 5.63% $3,170
1st National Bank 1 6.50% $3,007
F&A Federal Credit Union 1 6.75% $2,133
Evolve Bank & Trust 1 5.50% $2,957
EVERENCE FEDERAL CREDIT UNION 1 6.88% $2,346
EVANSVILLE TEACHERS 1 7.63% $3,985
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 5.75% $4,759
East Coast Capital Corp. 1 6.63% $9,418
DUPACO COMMUNITY 1 5.88% $2,926
DIRECT MORTGAGE LOANS, LLC 1 8.13% $5,928
DEVELOPER'S MORTGAGE COMPANY 1 7.00% $4,607
RADIUS FINANCIAL GROUP INC. 1 5.50% $3,026
Day Air Credit Union, Inc 1 8.13% $4,134
CRESCENT MORTGAGE COMPANY 1 5.88% $5,788
Countybank 1 6.88% $2,836
RESIDENTIAL BANCORP 1 6.75% $4,837
RESIDENTIAL HOME FUNDING CORP. 1 7.50% $6,828
Whitaker Bank 1 5.63% $4,094
Royal Credit Union 1 7.00% $5,835
COMPEER FINANCIAL, FLCA 1 7.88% $3,683
SCOTT CREDIT UNION 1 6.75% $2,816
Signature Federal Credit Union 1 6.75% $5,461
Simmons Bank 1 6.50% $4,512
Commerce Bank 1 6.63% $2,695
CNB Bank And Trust, N.A. 1 6.50% $2,737
STANFORD Federal Credit Union 1 5.63% $5,955
STAR Financial Bank 1 6.00% $3,788
City National Bank of Florida 1 7.00% $4,839
CITY-COUNTY CREDIT UNION 1 7.25% $4,907
Choice Financial Group 1 6.75% $5,602
CHEVRON 1 7.00% $4,399
Central Bank 1 6.25% $8,796
CARTER FEDERAL CREDIT UNION 1 7.25% $5,819
Capital Bank 1 6.99% $7,090
CALCON MUTUAL MORTGAGE LLC 1 7.25% $3,766
TECH Credit Union 1 6.88% $3,614
TEXAS TECH 1 7.88% $4,973
The Croghan Colonial Bank 1 5.75% $2,974
BOKF 1 7.50% $5,098
The Farmers National Bank of Canfield 1 5.88% $4,017
The First National Bank of Ottawa 1 7.75% $11,926
The Fountain Trust Company 1 7.50% $3,469
The Greenwood's State Bank 1 7.88% $2,488
The Northern Trust Company 1 5.88% $5,233
The Old Fort Banking Company 1 5.75% $2,543
Bank of Whittier 1 6.95% $9,448
THOMPSON KANE & COMPANY, LLC 1 7.63% $9,141
Wyndham Capital Mortgage, Inc. 1 5.38% $6,720
TOGETHER CREDIT UNION 1 6.38% $2,491
BancorpSouth 1 6.50% $6,886
TOTAL MORTGAGE SERVICES, LLC 1 6.13% $5,524

Michigan Average Closing Costs & Other Stats

Michigan's 559 lenders originated 185,623 loans during 2023. The total origination value was $37,538,935,000, with an average loan value of $202,232.

Michigan's average closing costs are $4,078.

The top Michigan lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 9,550 loans originated. Their average total fees are $5,867, which is $463 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Michigan lenders (with over 10 loans originated) are Discover Bank ($0), CHERRY CREEK MORTGAGE, LLC ($660), Directions Credit Union, Inc. ($1,061), PREMIA MORTGAGE, LLC ($1,309) and SIRVA MORTGAGE, INC. ($1,334).

The lowest rate Michigan lenders (with over 10 loans originated) are Polish-American Federal Credit Union (5.33%), MEMBERFOCUS COMMUNITY (5.72%), Citibank (5.74%), Michigan Legacy Credit Union (5.77%) and MICHIGAN SCHOOLS AND GOVERNMENT (5.80%).

Michigan 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
UNITED WHOLESALE MORTGAGE, LLC $4,177,160,000 $3,514,985,000 -15.9% 9.4%
QUICKEN LOANS, LLC $4,770,735,000 $3,007,480,000 -37.0% 8.0%
LAKE MICHIGAN CREDIT UNION $3,156,835,000 $2,240,620,000 -29.0% 6.0%
The Huntington National Bank $2,705,990,000 $1,780,770,000 -34.2% 4.7%
MORTGAGE 1 INCORPORATED $1,006,150,000 $674,450,000 -33.0% 1.8%
Fifth Third Bank $1,223,390,000 $644,025,000 -47.4% 1.7%
Flagstar Bank, FSB $1,139,290,000 $630,970,000 -44.6% 1.7%
Independent Bank $225,000 $615,840,000 273,606.7% 1.6%
JPMorgan Chase Bank $1,245,370,000 $579,410,000 -53.5% 1.5%
BERKADIA COMMERCIAL MORTGAGE LLC $691,535,000 $570,200,000 -17.5% 1.5%
PNC Bank $1,097,260,000 $565,740,000 -48.4% 1.5%
Mercantile Bank of Michigan $575,150,000 $537,095,000 -6.6% 1.4%
Citizens Bank $355,000 $475,120,000 133,736.6% 1.3%
The Dart Bank $503,025,000 $474,580,000 -5.7% 1.3%
UNION HOME MORTGAGE CORP. $489,705,000 $464,175,000 -5.2% 1.2%
First Merchants Bank $440,045,000 $459,985,000 4.5% 1.2%
CROSSCOUNTRY MORTGAGE, LLC $567,085,000 $443,940,000 -21.7% 1.2%
STAUNTON FINANCIAL, INC. $525,125,000 $418,265,000 -20.3% 1.1%
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $611,880,000 $405,995,000 -33.6% 1.1%
Neighborhood Loans, Inc.