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 7.19% for the week of 2023-09-21, compared to the national average of 7.19% for the same period.

The average rate for the prior week (2023-09-14) was 7.18% and one month ago for the week of 2023-08-17, the average rate was 7.19%.

Michigan's average rate one year ago was 5.92%.

For refis of the same type during the week of 2023-09-21, the average rate was 6.72%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-09-21 7.19%
Michigan 30 Year Fixed Rate 2023-09-21 7.19%
Michigan 30 Year Fixed Rate Refi 2023-09-21 6.72%
Michigan 15 Year Fixed Rate 2023-09-21 6.9%
Michigan 15 Year Fixed Rate Refi 2023-09-21 5.22%
Michigan 30 Year FHA 2023-09-21 6.68%
Michigan 30 Year FHA Refi 2023-09-21 5.33%
Michigan 30 Year USDA 2023-09-21 6.55%
Michigan 30 Year USDA Refi 2023-09-21 6.92%
Michigan 30 Year VA 2023-09-21 6.44%
Michigan 30 Year VA Refi 2023-09-21 4.78%
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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 12,640 5.02% $5,210
UNITED WHOLESALE MORTGAGE, LLC 10,961 5.19% $4,972
LAKE MICHIGAN CREDIT UNION 5,554 4.69% $3,548
The Huntington National Bank 3,611 4.62% $3,766
JPMorgan Chase Bank 3,286 4.76% $3,070
Flagstar Bank, FSB 2,956 5.11% $3,678
MORTGAGE 1 INCORPORATED 2,893 5.38% $4,508
Fifth Third Bank 1,983 4.85% $3,460
CALIBER HOME LOANS, INC. 1,774 5.11% $4,629
Independent Bank 1,770 5.00% $3,677
CROSSCOUNTRY MORTGAGE, LLC 1,533 5.46% $5,241
UNION HOME MORTGAGE CORP. 1,499 5.33% $4,708
CONSUMERS 1,491 5.40% $2,924
Neighborhood Loans, Inc. 1,404 5.49% $4,773
MORTGAGE CENTER L.C 1,357 4.58% $2,906
STAUNTON FINANCIAL, INC. 1,342 5.16% $4,110
Mercantile Bank of Michigan 1,262 4.81% $3,511
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 1,227 4.68% $3,409
The Dart Bank 1,169 5.20% $3,550
MICHIGAN MUTUAL, INC. 1,103 5.21% $4,940
GUARANTEED RATE, INC. 1,096 5.15% $4,220
AMERIFIRST FINANCIAL CORPORATION 1,030 5.40% $4,679
LOANDEPOT.COM, LLC 954 4.55% $5,340
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 945 5.19% $4,532
Mr. Cooper ( Nationstar Mortgage ) 942 4.81% $6,792
Wells Fargo Bank 896 4.72% $3,896
PRIMELENDING, A PLAINSCAPITAL COMPANY 893 5.35% $4,743
HOME POINT FINANCIAL CORPORATION 882 4.89% $4,913
Bank of America 845 4.25% $3,257
J. VIRGIL, INC. 827 5.44% $5,286
MICHIGAN SCHOOLS AND GOVERNMENT 797 4.44% $2,754
GENISYS 769 4.55% $2,857
EVERETT FINANCIAL, INC. 760 5.47% $1,822
First Merchants Bank 747 4.79% $3,624
MICHIGAN FIRST CREDIT UNION 726 4.89% $3,649
PNC Bank 725 4.71% $3,720
Citizens Bank 723 4.64% $4,238
DFCU FINANCIAL 708 4.80% $4,052
SUCCESS MORTGAGE PARTNERS, INC. 641 5.22% $5,867
Frankenmuth Credit Union 610 5.32% $1,995
Old National Bank 607 4.81% $3,256
First State Bank 590 4.99% $3,387
Northpointe Bank 541 4.79% $4,276
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 528 5.17% $4,627
AMERISAVE MORTGAGE CORPORATION 525 4.58% $6,554
UNITED 518 5.13% $3,888
OAK MORTGAGE, LLC 493 4.80% $3,130
RUOFF MORTGAGE COMPANY, INC. 479 5.27% $3,463
U.S. Bank 466 4.75% $3,658
NORTHERN MORTGAGE SERVICES, LLC 466 5.33% $5,230
CHURCHILL MORTGAGE CORPORATION 444 5.32% $4,082
ChoiceOne Bank 441 5.17% $2,889
ACADEMY MORTGAGE CORPORATION 414 5.30% $4,615
ROSS MORTGAGE CORPORATION 412 5.45% $3,871
DOW CHEMICAL EMPLOYEES' 411 5.15% $3,000
BROKER SOLUTIONS, INC. 407 5.14% $5,455
VAN DYK MORTGAGE CORPORATION 393 5.35% $3,507
ARK-LA-TEX FINANCIAL SERVICES, LLC. 379 5.39% $4,697
The State Bank 379 4.64% $2,976
CMG MORTGAGE, INC. 373 5.23% $5,331
UNIVERSITY LENDING GROUP, LLC 367 4.77% $4,541
CARDINAL FINANCIAL 354 5.21% $4,704
Hometown Lenders, Inc. 354 5.12% $4,990
GreenStone Farm Credit Services, FLCA 351 5.77% $4,380
FREEDOM MORTGAGE CORPORATION 350 4.95% $5,049
PULTE MORTGAGE LLC 345 4.91% $3,014
Preston Home Loans Inc 342 5.34% $4,696
COMMUNITY FINANCIAL CREDIT UNION 325 5.00% $2,853
Platinum Home Mortgage Corporation 313 5.06% $4,148
NEWREZ LLC 306 4.75% $4,992
PENNYMAC LOAN SERVICES, LLC 304 4.84% $5,458
Nicolet National Bank 298 5.09% $2,987
Horizon Bank 289 5.18% $3,139
BETTER MORTGAGE CORPORATION 287 4.15% $3,934
Honor Credit Union 283 4.61% $2,838
INLANTA MORTGAGE, INC. 282 5.37% $3,858
NAVY FEDERAL CREDIT UNION 273 5.49% $3,488
ARBOR FINANCIAL CREDIT UNION 270 5.14% $3,563
MID AMERICA MORTGAGE, INC. 252 5.31% $4,058
STOCKTON MORTGAGE CORPORATION 244 5.34% $5,802
United Bank of Michigan 242 5.00% $2,520
Isabella Bank 238 4.95% $2,677
MEMBER FIRST MORTGAGE, LLC 237 4.97% $3,382
FINANCE OF AMERICA MORTGAGE LLC 236 5.16% $4,696
UNIVERSITY OF MICHIGAN CREDIT UNION 234 4.74% $2,864
Dort Financial Credit Union 225 4.32% $2,676
CREDIT UNION ONE 217 5.25% $3,041
County National Bank 211 5.26% $3,915
Kellogg Community Credit Union 211 5.08% $2,480
TOWNE MORTGAGE COMPANY 204 5.23% $3,980
First Federal Bank of the Midwest 204 4.96% $3,594
Ally Bank 201 4.60% $3,685
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 194 4.77% $4,627
Range Bank 193 5.03% $3,577
Comerica Bank 193 4.96% $3,307
Morgan Stanley Private Bank 192 3.87% $3,682
UIF CORPORATION 191 5.41% $4,058
TLC COMMUNITY Credit Union 190 5.24% $2,714
Wildfire Credit Union 188 4.63% $2,194
Bank of Ann Arbor 184 4.89% $3,305
Associated Bank 179 4.83% $5,575
HOMESITE MORTGAGE, LLC 178 4.72% $4,177
IncredibleBank 178 5.11% $2,520
ENVOY MORTGAGE, LTD 178 5.25% $4,426
MUTUAL OF OMAHA MORTGAGE, INC. 177 5.10% $5,781
M/I FINANCIAL, LLC 176 4.54% $7,232
Macatawa Bank 176 4.60% $2,931
BLG HOLDINGS, INC. 175 4.99% $5,140
TEAM ONE CREDIT UNION 175 5.07% $1,031
LAKEVIEW LOAN SERVICING, LLC 174 4.78% $4,595
KeyBank 172 4.49% $3,689
First Savings Bank 172 4.83% $5,232
Carrington Mortgage Services, LLC 168 5.18% $6,314
ROYAL UNITED MORTGAGE LLC 167 5.39% $6,738
GVC MORTGAGE, INC. 161 5.59% $5,609
DAS Acquisition Company, LLC 156 5.87% $6,333
PLAZA HOME MORTGAGE, INC. 155 5.37% $5,346
MEMBERS FIRST Credit Union 149 5.08% $2,292
1st State Financial, Ltd. 147 4.63% $2,414
MMS MORTGAGE SERVICES, LTD. 146 5.10% $3,437
Sunflower Bank 139 4.98% $3,790
LEGEND LENDING CORPORATION 133 6.40% $4,623
Plains Commerce Bank 130 4.96% $3,869
VIBE CREDIT UNION 126 4.61% $3,478
HOWARD HANNA FINANCIAL SERVICES, INC. 124 5.17% $4,221
CHERRY CREEK MORTGAGE, LLC 121 5.20% $628
OMNI Community Credit Union 117 5.21% $4,288
PFCU 114 5.04% $2,713
CREDIT UNION MORTGAGE ASSOCIATION, INC. 112 3.88% $3,281
Nations Lending Corporation 107 5.21% $5,557
FINANCIAL PLUS CREDIT UNION 106 5.19% $3,474
HOMESIDE FINANCIAL, LLC 105 4.90% $5,136
TOP FLITE FINANCIAL, INC. 103 5.42% $7,450
T2 FINANCIAL LLC 102 5.61% $5,735
Michigan Educational Credit Union 98 4.76% $3,414
Grand River Bank 96 4.87% $3,686
Circle Federal Credit Union 91 5.06% $2,893
Mortgage Research Center, LLC 90 5.09% $3,876
PREMIA MORTGAGE, LLC 90 5.34% $1,775
University Bank 85 6.05% $4,435
AMERICAN FINANCING CORPORATION 85 4.35% $5,579
Dearborn Federal Savings Bank 85 4.56% $2,876
ZILLOW HOME LOANS, LLC 84 5.33% $4,812
THE ANDERSON FINANCIAL GROUP, INC. 83 5.12% $3,709
PHH Mortgage Corporation 82 4.76% $5,677
MOVEMENT MORTGAGE, LLC 82 5.35% $4,027
First Federal Savings and Loan Association of Lakewood 81 5.02% $3,943
LAFCU 80 4.96% $3,092
SECURITY CREDIT UNION 79 4.82% $2,103
GENEVA FINANCIAL, LLC 78 5.36% $5,365
USAA Federal Savings Bank 75 5.75% $4,625
CoVantage Credit Union 75 5.14% $2,446
GUARANTY HOME MORTGAGE CORPORATION 73 5.18% $4,210
FIRST COMMUNITY MORTGAGE, INC. 72 6.63% $6,073
MARSHALL COMMUNITY CREDIT UNION 71 5.25% $2,240
Discover Bank 71 5.72% $0
Polish-American Federal Credit Union 71 3.60% $2,685
UBS Bank USA 70 3.99% $4,266
KELLER MORTGAGE, LLC 69 4.45% $2,978
AmeriHome Mortgage Company, LLC 69 4.76% $4,718
M&T Bank 69 4.78% $4,980
PROVIDENT FUNDING ASSOCIATES, L.P. 67 5.03% $3,693
SUMMIT HOME MORTGAGE, LLC 67 5.29% $4,134
Southern Michigan Bank & Trust 64 5.29% $3,005
Wanigas Credit Union 64 4.88% $2,275
CORNERSTONE HOME LENDING, INC. 63 5.56% $5,351
Stifel Bank and Trust 62 3.53% $2,507
North American Savings Bank, F.S.B. 62 4.84% $3,511
TEACHERS CREDIT UNION 60 5.30% $2,886
Commercial Bank 60 4.87% $3,058
AAC Credit Union 59 5.45% $2,584
FIRST CHOICE MH LLC 59 9.00% $2,512
Bank of England 58 5.21% $4,726
Citibank 56 4.04% $5,088
1st Source Bank 56 4.88% $4,205
Paramount Residential Mortgage Group, Inc. 56 5.04% $6,050
HEALTH ADVANTAGE FEDERAL CREDIT UNION 55 5.70% $2,550
Charles Schwab Bank, SSB 55 3.79% $3,982
HOMEBRIDGE FINANCIAL SERVICES, INC. 54 5.62% $5,900
TBI MORTGAGE COMPANY 54 4.47% $6,782
AMERICAN PORTFOLIO MORTGAGE CORPORATION 54 5.47% $3,564
Chicago Mortgage Solutions LLC 53 3.67% $2,346
EQUITY RESOURCES, INC. 53 4.87% $3,149
Waterstone Mortgage Corporation 53 5.43% $4,104
GUIDANCE RESIDENTIAL, LLC 53 5.23% $4,472
Extra 52 5.36% $2,984
First Guaranty Mortgage Corporation 51 4.14% $5,076
Prosperity Home Mortgage, LLC 51 4.94% $4,828
Raymond James Bank 50 3.53% $2,976
HANCOCK MORTGAGE PARTNERS, LLC 50 5.28% $4,774
Notre Dame Federal Credit Union Corporation 49 5.02% $4,617
NATIONAL COOPERATIVE BANK, N.A. 49 5.73% $3,836
Pacor Mortgage Corp 48 4.88% $3,928
CONTOUR MORTGAGE CORPORATION 47 5.79% $6,266
MICHIGAN ONE COMMUNITY Credit Union 45 5.21% $3,514
NBKC BANK 45 4.63% $3,370
AMERICAN PACIFIC MORTGAGE CORPORATION 45 5.49% $5,336
Ixonia Bank 45 5.01% $3,848
Directions Credit Union, Inc. 43 5.41% $2,790
ANGEL OAK MORTGAGE SOLUTIONS LLC 43 6.73% $7,897
POLARIS HOME FUNDING CORP. 43 5.23% $4,899
Adventure Credit Union 42 4.79% $2,659
FIRST HERITAGE FINANCIAL, LLC 42 5.20% $5,511
Luxury Mortgage Corp. 41 5.29% $7,690
WINGS FINANCIAL 41 4.65% $2,857
First National Bank of America 41 8.30% $7,555
ALLIANCE CATHOLIC CREDIT UNION 41 5.00% $3,738
NEW ENGLAND FEDERAL CREDIT UNION 41 3.99% $2,723
ELGA CREDIT UNION 40 4.73% $3,516
DRAPER AND KRAMER MORTGAGE CORP. 40 4.84% $3,897
UNITED FINANCIAL Credit Union 40 5.02% $2,667
NATIONS DIRECT MORTGAGE, LLC 39 5.63% $10,571
Wyndham Capital Mortgage, Inc. 37 4.82% $2,555
ADVANTAGE ONE Credit Union 35 4.94% $3,216
DEEPHAVEN MORTGAGE LLC 35 7.60% $10,316
PREFERRED CREDIT UNION 35 5.04% $3,568
LAND HOME FINANCIAL SERVICES, INC. 34 5.50% $4,286
MONROE COUNTY COMMUNITY CREDIT UNION 33 5.37% $2,398
HALLMARK HOME MORTGAGE, LLC 33 5.65% $4,809
RESIDENTIAL BANCORP 33 4.89% $6,018
COMPASS MORTGAGE, INC. 33 5.11% $4,849
BAY EQUITY LLC 32 5.71% $5,400
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 32 5.41% $4,265
PLANET HOME LENDING, LLC 32 4.60% $4,251
TJC Mortgage, Inc. 32 4.71% $6,739
Truist 32 4.67% $4,579
BMO Harris Bank 31 4.62% $6,173
NEXERA HOLDING LLC 29 7.99% $8,604
PROPER RATE, LLC 29 5.08% $5,548
KALSEE CREDIT UNION 28 5.79% $3,227
Community West Credit Union 28 4.88% $3,953
St James Mortgage Corporation 28 4.58% $2,187
FIRST CENTENNIAL MORTGAGE CORPORATION 28 5.33% $4,225
Auto Club Trust, FSB 28 4.80% $2,473
PENTAGON FEDERAL CREDIT UNION 28 4.51% $5,345
Florida Capital Bank 28 5.29% $4,277
Quontic Bank 28 7.04% $10,014
MORTGAGE ACCESS CORP. 27 5.01% $4,521
ANGEL OAK HOME LOANS LLC 27 6.23% $6,103
EMM LOANS LLC 27 5.64% $6,607
INSPIRE HOME LOANS INC. 27 5.26% $6,095
RBC Bank, (Georgia) 27 5.05% $1,984
Barrington Bank & Trust Company, N.A. 27 5.33% $5,315
GUARANTEED RATE AFFINITY, LLC 25 4.96% $2,919
First Federal Savings Bank 25 5.34% $3,930
LOANPAL, LLC 24 4.34% $5,793
PRIMARY RESIDENTIAL MORTGAGE, INC. 24 5.25% $5,084
Arvest Bank 23 5.02% $5,051
Century Mortgage Company DBA Century Lending Company 23 5.62% $7,476
The Stephenson National Bank and Trust 23 4.94% $2,190
NexBank 23 4.99% $7,123
SUN WEST MORTGAGE COMPANY, INC. 22 5.40% $6,489
RELIANCE FIRST CAPITAL, LLC 22 5.40% $7,624
The State Bank and Trust Company 22 4.49% $4,029
American Mortgage & Equity Consultants, Inc. 22 5.34% $5,141
The Federal Savings Bank 22 4.84% $7,217
Lakeview Community Capital, LLC 22 4.77% $3,566
AMERICAN INTERNET MORTGAGE, INC. 21 3.89% $4,501
SOFI LENDING CORP. 21 3.71% $3,818
Zeal Credit Union 21 3.28% $2,760
Servion, Inc. 20 4.70% $3,529
DIGITAL Federal Credit Union 20 4.33% $3,861
CIBC Bank USA 20 4.09% $4,851
NETWORK CAPITAL FUNDING CORPORATION 20 5.20% $4,951
West Michigan Credit Union 20 4.97% $4,015
Total Community Credit Union 19 4.57% $2,825
First Internet Bank of Indiana 19 4.68% $3,818
FinancialEdge Community Credit Union 19 5.28% $2,116
FirstBank 19 3.69% $2,909
ARC HOME LLC 19 5.91% $6,330
US MORTGAGE CORPORATION 18 5.42% $5,389
Michigan Legacy Credit Union 18 5.05% $3,239
Northwest Bank 18 5.28% $4,708
NATIONS RELIABLE LENDING, LLC 17 5.04% $5,888
MORIA DEVELOPMENT, INC. 17 5.42% $5,661
SIRVA MORTGAGE, INC. 17 4.92% $2,459
NATIONWIDE MORTGAGE BANKERS, INC. 17 6.33% $8,188
BLUELEAF LENDING, LLC 17 4.39% $4,289
HOMESTEAD FUNDING CORP. 17 4.90% $4,818
INTERRA CREDIT UNION 16 5.66% $3,507
Semper Home Loans, Inc. 16 6.34% $4,243
Farmers State Bank 16 4.46% $3,175
Goldman Sachs Bank USA 16 3.68% $4,590
DELMAR FINANCIAL COMPANY 16 5.35% $5,360
SUMMIT FUNDING, INC. 16 4.35% $5,092
Baxter Credit Union 15 4.57% $3,263
HAMILTON HOME LOANS, INC. 15 5.51% $5,761
Citadel Servicing Corporation 15 7.34% $8,792
Sierra Pacific Mortgage Company, Inc. 15 4.92% $8,219
CIBM Bank 14 4.67% $3,256
HOMEXPRESS MORTGAGE CORP. 14 7.69% $10,494
RIVER VALLEY CREDIT UNION 14 4.84% $3,063
BNC National Bank 14 4.59% $3,732
Meijer Credit Union 14 5.41% $2,936
GSF Mortgage Corporation 14 6.02% $4,281
Austin Capital Bank SSB 13 6.28% $6,204
Bankers' Bank 13 5.72% $3,306
GREENSTATE CREDIT UNION 13 5.74% $3,552
ALLIED MORTGAGE GROUP, INC. 13 5.82% $3,824
LENDSURE MORTGAGE CORP. 13 7.40% $9,339
Warsaw Federal Savings and Loan Association 12 6.76% $3,315
Lake Huron Credit Union 12 4.18% $3,296
Strong Home Mortgage, LLC 12 3.92% $2,795
PLUS RELOCATION MORTGAGE, LLC 12 5.61% $3,492
OCMBC, INC. 11 5.18% $5,817
SOUTHWEST FUNDING, LP 11 5.35% $7,707
GUILD MORTGAGE COMPANY 11 5.08% $4,595
Public Service Credit Union 11 5.34% $3,819
EMBRACE HOME LOANS, INC. 11 4.70% $4,207
Toyota Financial Savings Bank 11 4.63% $4,747
BNY Mellon 10 3.68% $5,071
Beeline Loans, Inc. 10 4.82% $3,801
CITIZENS EQUITY FIRST 10 4.38% $2,620
INLAND BANK & TRUST 10 4.73% $4,425
Lake City Bank 10 4.25% $2,977
The Farmers & Merchants State Bank 10 4.59% $3,426
THRIVENT Federal Credit Union 10 3.91% $3,638
UNITED MORTGAGE CORP 10 5.40% $5,732
VANDERBILT MORTGAGE AND FINANCE, INC. 10 4.63% $3,357
S1L, Inc. 9 5.30% $7,192
Union Savings Bank 9 3.92% $3,191
FBC MORTGAGE, LLC 9 3.94% $2,880
IMPAC MORTGAGE CORP. 9 5.44% $3,498
SUNRISE FAMILY CREDIT UNION 9 4.49% $2,411
The Northern Trust Company 9 3.97% $5,396
INOVA FEDERAL CREDIT UNION 9 5.06% $3,948
South Metro Federal Credit Union 9 4.71% $2,968
AMERICAN FINANCIAL RESOURCES, INC. 9 5.07% $5,172
City National Bank 9 4.38% $5,023
KENT COUNTY CREDIT UNION 9 5.35% $2,122
The Central Trust Bank 9 4.96% $4,381
Texana Bank 9 4.78% $6,732
BAYSHORE MORTGAGE FUNDING, LLC 8 6.08% $5,166
Regions Bank 8 5.31% $4,041
Three Rivers Federal Credit Union 8 5.39% $3,134
Watermark Capital, Inc. 8 4.36% $3,851
Bethpage Federal Credit Union 8 5.06% $4,789
NFM, INC. 8 5.87% $6,142
Princeton Mortgage Corporation 8 4.89% $5,449
Equity Prime Mortgage LLC 7 5.39% $5,217
FARMERS INSURANCE GROUP FEDERAL CREDIT UNION 7 4.98% $3,253
JOLT CREDIT UNION 7 5.09% $3,664
Deere Employees Credit Union 7 3.98% $2,757
Capitol Federal Savings Bank 7 5.57% $3,905
AMERICAN FINANCE HOUSE LARIBA 7 5.07% $4,863
PURDUE FEDERAL CREDIT UNION 7 4.71% $3,737
CALCON MUTUAL MORTGAGE LLC 7 5.98% $6,776
First Horizon Bank 7 5.21% $4,061
Elements Financial Federal Credit Union 7 5.54% $3,264
BKCO MORTGAGE, LLC 7 5.80% $4,148
Centier Bank 6 4.25% $2,747
The Loan Store, Inc. 6 4.06% $3,335
MYCUMORTGAGE, LLC 6 4.23% $3,423
OAKTREE FUNDING CORP. 6 6.81% $10,309
PCM 6 3.49% $1,162
LEADERONE FINANCIAL CORPORATION 6 5.79% $5,247
Ameris Bank 6 4.75% $3,964
Commerce Home Mortgage, Inc. 6 5.95% $10,447
Devon Bank 6 5.83% $4,961
CANOPY MORTGAGE, LLC 6 3.73% $3,060
Johnson Bank 5 4.94% $3,309
Colonial Savings, F.A. 5 4.83% $6,989
ROUNDPOINT MORTGAGE SERVICING CORPORATION 5 3.70% $8,177
COMMUNITY MORTGAGE FUNDING, LLC 5 4.68% $3,024
Key Mortgage Services, Inc. 5 5.45% $4,127
UNIFY FINANCIAL Credit Union 5 4.95% $1,009
UMB Bank 5 4.13% $2,349
Gateway First Bank 5 5.73% $5,637
The Park National Bank 5 5.52% $4,476
First Western Trust Bank 5 5.95% $3,832
ALLIANT CREDIT UNION 5 5.40% $3,652
First State Bank of Middlebury 5 4.93% $6,923
First Home Bank 5 4.95% $4,446
First-Citizens Bank & Trust Company 5 5.44% $5,683
LIBERTY HOME MORTGAGE CORPORATION 5 5.75% $5,435
NP, Inc. 5 6.27% $5,283
Superior Credit Union, Inc. 5 4.95% $3,101
SUN Federal Credit Union 5 4.48% $2,247
ONY GLO, INC. 5 4.72% $8,001
AMERICAN ADVISORS GROUP 5 4.05% $3,250
HOMESTAR FINANCIAL CORPORATION 5 7.03% $5,944
21ST MORTGAGE CORPORATION 5 7.89% $5,155
Chicago Financial Services, Inc. 5 5.55% $3,523
Bell Bank 4 5.75% $3,768
First State Bank of St. Charles, Missouri 4 4.34% $3,470
EASTMAN 4 3.91% $3,187
Mutual Federal Bank 4 5.69% $9,695
JMAC LENDING, INC. 4 6.97% $8,704
THE MORTGAGE FIRM, INC. 4 5.69% $6,224
The Genoa Banking Company 4 5.28% $3,524
WRIGHT-PATT CREDIT UNION, INC. 4 6.69% $2,349
First Financial Bank 4 5.06% $6,548
BOKF 4 5.47% $7,550
First Federal Bank 4 4.25% $4,486
MEMBER ADVANTAGE MORTGAGE, LLC 4 4.84% $3,971
Commerce Bank 4 4.25% $6,906
SeaTrust Mortgage Company 4 4.66% $3,244
Northwest Federal Credit Union 4 3.84% $2,301
SECURITYNATIONAL MORTGAGE COMPANY 4 5.21% $5,862
AMERICAN MORTGAGE SERVICE COMPANY 4 4.44% $3,198
Peoples Bank 4 4.99% $4,775
Stock Yards Bank & Trust Company 4 4.06% $3,184
Amerifirst Financial, Inc. 4 5.31% $1,555
Axos Bank 4 3.96% $2,812
The Union Bank Company 4 5.91% $5,179
AmRes Corporation 4 5.78% $5,751
FOX COMMUNITIES 4 3.40% $939
UNITED HOME LOANS, INC. 4 5.03% $6,649
United Nations Federal Credit Union 3 4.50% $2,932
LENOX FINANCIAL MORTGAGE CORPORATION 3 3.92% $4,678
Busey Bank 3 5.13% $3,034
FLAT BRANCH MORTGAGE, INC. 3 4.71% $6,048
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 5.21% $3,231
Cf Bank 3 5.00% $1,834
NORTHROP GRUMMAN Federal Credit Union 3 5.17% $4,292
OPEN MORTGAGE, LLC 3 5.38% $6,844
SWBC MORTGAGE CORPORATION 3 5.96% $4,296
Gold Coast Bank 3 3.91% $4,253
City National Bank of Florida 3 5.50% $3,188
STEARNS LENDING, LLC 3 3.79% $1,737
A&D Mortgage LLC 3 6.96% $9,546
KEMBA CREDIT UNION, INC. 3 5.21% $3,525
Great Southern Bank 3 3.22% $3,061
Silicon Valley Bank 3 3.17% $3,369
ProFed Federal Credit Union 3 4.29% $2,487
First Republic Bank 3 3.25% $5,638
Figure Lending LLC 3 4.00% $1,222
KINECTA 3 5.08% $4,671
FIRST NORTHERN Credit Union 3 5.96% $5,132
Amalgamated Bank 3 4.41% $4,271
HARTFORD FUNDING, LTD. 3 4.17% $4,171
HSBC BANK USA, NATIONAL ASSOCIATION 3 5.09% $4,110
Blackhawk Bank 3 5.32% $2,593
Blue Ridge Bank 3 5.16% $3,706
Renasant Bank 3 5.50% $3,123
Simmons Bank 3 5.29% $4,141
DUPACO COMMUNITY 3 5.00% $3,083
Summit Credit Union 3 5.88% $2,725
First Financial Bank 3 4.25% $2,838
THE EQUITABLE MORTGAGE CORPORATION 3 4.00% $2,535
The Citizens National Bank of Bluffton 3 5.38% $3,560
COMMUNITYAMERICA 3 4.71% $3,036
INTERCAP LENDING INC. 3 4.21% $6,049
RESIDENTIAL HOME FUNDING CORP. 3 4.21% $6,932
STAR ONE CREDIT UNION 3 5.38% $2,505
FEDEX EMPLOYEES CREDIT ASSOCIATION 2 4.13% $3,626
Kwik Mortgage Corporation 2 5.44% $1,844
ITHINK FINANCIAL Credit Union 2 3.69% $4,980
WRIGHT PATMAN CONGRESSIONAL FEDERAL CREDIT UNION 2 5.63% $9,958
Lend Smart Mortgage, LLC 2 7.13% $5,987
Magnolia Bank 2 6.19% $9,546
Heartland Bank 2 5.56% $3,657
MEMBERS 1ST FEDERAL CREDIT UNION 2 3.69% $3,847
GREAT LAKES 2 4.69% $7,911
GLASS CITY Federal Credit Union 2 5.00% $2,322
Midland States Bank 2 5.75% $3,344
MILESTONE HOME LENDING, LLC 2 4.99% $3,117
MJW Financial LLC 2 6.38% $5,987
MLD MORTGAGE INC. 2 4.69% $7,221
FORT FINANCIAL Federal Credit Union 2 5.56% $4,824
FIRST STATE MORTGAGE SERVICES, LLC 2 3.94% $3,122
MY MORTGAGE, INC. 2 4.81% $9,709
First Midwest Bank 2 3.25% $3,641
First Farmers Bank and Trust Company 2 5.19% $4,533
First Bank 2 6.13% $8,761
NUMARK CREDIT UNION 2 3.19% $2,402
Old Second National Bank 2 4.94% $4,218
PACIFIC RESIDENTIAL MORTGAGE, LLC 2 6.50% $6,650
Paramount Bank 2 5.44% $4,112
FAY SERVICING, LLC 2 3.63% $5,838
Pinnacle Bank 2 5.25% $16,206
EVANSVILLE TEACHERS 2 3.63% $2,443
EUSTIS AND AMERICAN MORTGAGE COMPANY 2 4.88% $4,414
East Coast Capital Corp. 2 4.94% $5,393
DATA MORTGAGE, INC. 2 5.50% $5,207
CORNERSTONE COMMUNITY FINANCIAL 2 6.00% $5,997
Core Bank 2 4.69% $3,136
Republic Bank & Trust Company 2 4.81% $2,709
Service Federal Credit Union 2 4.19% $3,077
Civista Bank 2 5.88% $2,775
Cincinnati Federal 2 5.44% $5,523
SOVEREIGN LENDING GROUP INCORPORATED 2 4.12% $7,650
STAR Financial Bank 2 5.25% $4,459
Christensen Financial, Inc. 2 3.88% $5,484
Centra Credit Union 2 4.06% $5,671
The Croghan Colonial Bank 2 5.31% $3,262
BLC Community Bank 2 4.70% $2,266
The Richwood Banking Company 2 4.48% $3,958
Bank of Springfield 2 5.01% $2,430
VILLAGE CAPITAL MORTGAGE 2 4.69% $5,946
V.I.P. MORTGAGE, INC. 2 5.13% $4,492
WALL STREET MORTGAGE BANKERS, LTD. 2 10.94% $7,068
WesBanco 2 4.31% $5,556
ADVANCIAL 2 5.88% $9,367
Willamette Valley Bank 2 4.75% $6,177
CLEARPATH LENDING 1 5.63% $4,874
Lincoln FSB of Nebraska 1 6.88% $5,109
Deseret First Credit Union 1 5.50% $6,006
Dollar Bank, Federal Savings Bank 1 3.25% $5,474
EagleBank 1 6.13% $4,402
Eagle Savings Bank 1 6.75% $4,310
Allied First Bank,sb 1 4.38% $3,455
Prairie State Bank and Trust 1 3.50% $1,298
SouthPoint Bank 1 4.50% $7,087
South State Bank 1 5.25% $3,360
Southwest Airlines Federal Credit Union 1 5.00% $3,147
Christian Community Credit Union 1 4.50% $3,714
Liberty Savings Bank, F.S.B. 1 4.75% $11,248
ILLINOIS STATE CREDIT UNION 1 5.25% $2,155
Starion Bank 1 6.38% $2,854
Encompass Lending Group, LP 1 6.50% $5,610
State Department Federal Credit Union 1 4.88% $6,937
Alerus Financial 1 3.63% $3,224
S&T Bank 1 6.63% $2,968
EVERENCE FEDERAL CREDIT UNION 1 5.88% $2,525
Evolve Bank & Trust 1 5.38% $3,885
Stillman Bank 1 3.95% $2,365
CHEVRON 1 4.13% $8,129
CHAMPIONS MORTGAGE LLC 1 3.88% $3,950
Farm Credit Mid-America, ACA 1 5.85% $5,949
PARTNERSHIP FINANCIAL 1 6.63% $3,216
CERTAINTY HOME LOANS, LLC 1 4.13% $3,037
Origin Bank 1 4.00% $3,405
Kish Bank 1 3.25% $3,188
ONE NEVADA CREDIT UNION 1 4.75% $2,659
Fidelity Bank 1 6.13% $2,925
CASTLE & COOKE MORTGAGE, LLC 1 3.75% $4,088
Financial Partners Credit Union 1 4.25% $2,989
CapStar Bank 1 3.75% $9,331
First Bank 1 4.88% $2,776
NORTHWEST BANK OF ROCKFORD 1 4.75% $5,330
First Bank & Trust 1 5.25% $4,752
First Commonwealth Bank 1 5.25% $3,149
First Dakota National Bank 1 5.98% $6,366
NMSI, INC. 1 6.75% $7,641
TECH Credit Union 1 5.13% $3,946
First Federal Bank, A FSB 1 4.88% $9,784
Texas Bank and Trust Company 1 4.50% $3,067
First Federal Savings Bank 1 5.00% $3,231
First Federal Savings Bank 1 5.38% $2,888
NEW DAY FINANCIAL, LLC 1 5.88% $2,249
WESTERN VISTA 1 6.63% $2,691
121 FINANCIAL 1 6.50% $3,359
Network Funding, L.P. 1 6.00% $14,022
NBH Bank 1 3.88% $6,026
The Farmers National Bank of Canfield 1 5.13% $4,360
First International Bank & Trust 1 2.75% $5,190
The First National Bank and Trust Company 1 5.38% $1,881
The First National Bank of Ottawa 1 5.88% $5,554
First Mid Bank & Trust 1 3.75% $2,636
JEEP COUNTRY 1 3.25% $3,126
First National Bank of Omaha 1 5.75% $2,193
National Exchange Bank and Trust 1 4.75% $1,866
First United Bank and Trust Company 1 6.13% $4,237
Mortgage Bank of California 1 7.50% $14,606
INB 1 5.63% $3,219
Flanagan State Bank 1 3.88% $2,884
F&M Bank 1 3.25% $3,087
FUNDING RESOURCES MORTGAGE CORPORATION 1 5.88% $3,233
MidWestOne Bank 1 5.00% $9,561
Midwest Community Bank 1 5.50% $3,279
THRIVE MORTGAGE, LLC 1 3.50% $4,129
Academy Bank 1 5.25% $5,746
Midwest BankCentre 1 3.63% $2,550
BECKAM FUNDING CORP. 1 8.13% $16,904
MidFirst Bank 1 2.48% $5,479
JLB CORPORATION 1 7.13% $5,955
TOTAL MORTGAGE SERVICES, LLC 1 6.99% $4,106
Town & Country Banc Mortgage Services 1 7.35% $2,112
Bank of Colorado 1 4.75% $5,311
Bank First, N.A. 1 3.63% $5,868
TRIAD FINANCIAL SERVICES, INC. 1 5.50% $5,372
Bankers Trust Company 1 5.75% $2,186
Mid-Continent Funding, Inc. 1 6.00% $17,645
ASSEMBLIES OF GOD Credit Union 1 4.50% $2,656
German American Bank 1 6.13% $2,938
Grand Valley Bank 1 5.63% $4,342
Armed Forces Bank 1 3.75% $3,843
Great Plains National Bank 1 5.50% $3,752
ARIZONA 1 6.13% $3,604
United Bank 1 3.50% $4,403
Guardian Savings Bank, A Federal Savings Bank 1 2.75% $5,847
United Community Bank 1 5.50% $3,051
United Community Bank 1 4.38% $16,644
Merchants Bank of Indiana 1 3.63% $2,695
HANSCOM 1 3.50% $4,909
ABSOLUTE HOME MORTGAGE CORPORATION 1 5.50% $2,609
MEMBERS HERITAGE Credit Union 1 5.00% $3,299
HAPO COMMUNITY CREDIT UNION 1 5.75% $4,189
Hills Bank and Trust Company 1 3.25% $3,097
American National Bank 1 3.75% $3,882
Marquette Bank 1 5.63% $9,619
Univest Bank and Trust Co. 1 4.88% $3,927
HIWAY 1 3.25% $3,200
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 5.88% $7,449
American Bank and Trust Company 1 4.99% $2,634
Uwharrie Bank 1 4.01% $6,009
Low VA Rates, LLC 1 6.00% $4,428
HONDA Federal Credit Union 1 3.88% $2,905
AMCAP MORTGAGE, LTD. 1 6.25% $5,249
Actors Federal Credit Union 1 4.25% $2,405
REDWOOD RESIDENTIAL ACQUISITION CORPORATION 1 3.50% $5,673
JUSTICE Federal Credit Union 1 6.38% $2,626
Community Trust Bank, Inc. 1 5.38% $4,357
COMPEER FINANCIAL, FLCA 1 5.50% $3,058
Residential Mortgage Solutions, Inc. 1 6.38% $4,249
River Bank & Trust 1 4.25% $4,564
QUORUM FEDERAL CREDIT UNION 1 3.88% $3,471
Rock Canyon Bank 1 4.50% $4,892
Cornerstone National Bank & Trust Company 1 4.50% $2,622
PyraMax Bank, FSB 1 4.63% $2,525
Colten Mortgage, LLC 1 4.38% $6,118
CPM Federal Credit Union 1 3.63% $4,559
Crossroads Bank 1 5.00% $2,066
Providence Bank & Trust 1 3.25% $2,728
Collins Community Credit Union 1 5.25% $2,500
PROPONENT Federal Credit Union 1 3.00% $3,168
CNB Bank And Trust, N.A. 1 3.25% $2,610
Iroquois Federal Savings and Loan Association 1 3.50% $3,780

Michigan Average Closing Costs & Other Stats

Michigan's 619 lenders originated 265,538 loans during 2022. The total origination value was $55,733,000,000, with an average loan value of $209,887.

Michigan's average closing costs are $3,911.

The top Michigan lender as defined by loan originations is QUICKEN LOANS, LLC, with 12,640 loans originated. Their average total fees are $5,210, which is $238 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Michigan lenders (with over 10 loans originated) are Discover Bank ($0), CHERRY CREEK MORTGAGE, LLC ($628), TEAM ONE CREDIT UNION ($1,031), PREMIA MORTGAGE, LLC ($1,775) and EVERETT FINANCIAL, INC. ($1,822).

The lowest rate Michigan lenders (with over 10 loans originated) are Zeal Credit Union (3.28%), Raymond James Bank (3.53%), Stifel Bank and Trust (3.53%), Polish-American Federal Credit Union (3.60%) and Chicago Mortgage Solutions LLC (3.67%).

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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
QUICKEN LOANS, LLC $11,941,465,000 $4,770,735,000 -60.0% 8.6%
UNITED WHOLESALE MORTGAGE, LLC $7,848,015,000 $4,177,160,000 -46.8% 7.5%
LAKE MICHIGAN CREDIT UNION $4,803,620,000 $3,156,835,000 -34.3% 5.7%
The Huntington National Bank $3,655,355,000 $2,705,990,000 -26.0% 4.9%
JPMorgan Chase Bank $2,597,780,000 $1,245,370,000 -52.1% 2.2%
Fifth Third Bank $2,064,000,000 $1,223,390,000 -40.7% 2.2%
Flagstar Bank, FSB $1,969,580,000 $1,139,290,000 -42.2% 2.0%
PNC Bank $1,148,785,000 $1,097,260,000 -4.5% 2.0%
MORTGAGE 1 INCORPORATED $1,749,980,000 $1,006,150,000 -42.5% 1.8%
Independent Bank $650,000 $960,095,000 147,606.9% 1.7%
Citizens Bank $948,715,000 $758,195,000 -20.1% 1.4%
Wells Fargo Bank $933,170,000 $721,065,000 -22.7% 1.3%
BERKADIA COMMERCIAL MORTGAGE LLC $543,640,000 $691,535,000 27.2% 1.2%
CALIBER HOME LOANS, INC. $1,571,355,000 $661,795,000 -57.9% 1.2%
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $644,115,000 $611,880,000 -5.0% 1.1%
Mercantile Bank of Michigan $897,915,000 $575,150,000 -35.9% 1.0%
Old National Bank $754,320,000 $573,140,000 -24.0% 1.0%
WALKER & DUNLOP, LLC $811,045,000 $572,110,000 -29.5% 1.0%
CROSSCOUNTRY MORTGAGE, LLC $814,960,000 $567,085,000 -30.4% 1.0%
STAUNTON FINANCIAL, INC. $720,525,000 $525,125,000 -27.1% 0.9%
Bank of America $831,060,000 $513,265,000 -38.2% 0.9%
The Dart Bank $616,820,000 $503,025,000 -18.4% 0.9%
CONSUMERS $708,250,000 $501,230,000 -29.2% 0.9%
UNION HOME MORTGAGE CORP. $1,061,715,000 $489,705,000 -53.9% 0.9%
Neighborhood Loans, Inc. $619,065,000 $464,175,000 -25.0% 0.8%
Mortgage Research Center, LLC $552,870,000 $457,700,000 -17.2% 0.8%
GUARANTEED RATE, INC. $690,150,000 $450,710,000 -34.7% 0.8%
First Merchants Bank $114,655,000 $440,045,000 283.8% 0.8%
GENISYS $581,485,000 $412,175,000 -29.1% 0.7%
LOANDEPOT.COM, LLC $987,070,000 $402,595,000 -59.2% 0.7%
Comerica Bank $369,720,000 $400,440,000 8.3% 0.7%
Mr. Cooper ( Nationstar Mortgage ) $893,040,000 $383,185,000 -57.1% 0.7%
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $681,315,000 $374,045,000 -45.1% 0.7%
MICHIGAN SCHOOLS AND GOVERNMENT $658,685,000 $373,840,000 -43.2% 0.7%
DFCU FINANCIAL $450,480,000 $361,120,000 -19.8% 0.6%