Lender in Michigan · HMDA 2025
Mercantile Bank mortgages in Michigan
Mercantile Bank's 2025 home-purchase and refinance lending in Michigan, compared with all lenders in the state.
Mercantile Bank originated 1,281 owner-occupied single-family loans in Michigan from 1,446 completed applications, making it the state's #19 lender by volume.
Its median conventional purchase loan costs were $3,560 versus $4,140 for all Michigan lenders, at a median 30-year fixed rate of 6.625% (Michigan: 6.625%).
Loans in MI
1,281
of 1,446 applications
Denial rate
8.1%
Purchase · MI 7.8%
Rate spread
+0.18 pts
Conv. · MI +0.23 pts
Loan amount
$255,000
Purchase · MI $245,000
By loan purpose
| Purpose | Applications | Loans | Denial rate | 30-yr rate* | Rate spread* | Loan costs* | Median loan |
|---|---|---|---|---|---|---|---|
| Home purchase | 1,070 | 980 | 8.1% | 6.625% | +0.18 pts | $3,560 | $255,000 |
| Refinance | 223 | 190 | 14.8% | 6.500% | −0.01 pts | $3,370 | $285,000 |
| Cash-out refinance | 153 | 111 | 27.5% | 6.750% | +0.36 pts | $3,410 | $215,000 |
*Conventional loans only; medians with at least 20 loans.
Michigan counties where Mercantile Bank ranks in the top 25
Showing the 30 counties where it ranks highest, of 33.
| County | Rank | Loans | Market share |
|---|---|---|---|
| Emmet County | 1 | 91 | 26.2% |
| Isabella County | 2 | 72 | 12.2% |
| Gratiot County | 2 | 40 | 9.4% |
| Ogemaw County | 2 | 26 | 11.5% |
| Cheboygan County | 3 | 14 | 6.3% |
| Kent County | 4 | 337 | 3.7% |
| Charlevoix County | 4 | 24 | 10.3% |
| Ottawa County | 5 | 154 | 3.9% |
| Allegan County | 5 | 57 | 3.5% |
| Clare County | 6 | 17 | 4.0% |
| Leelanau County | 6 | 11 | 4.8% |
| Ionia County | 7 | 38 | 4.3% |
| Barry County | 7 | 26 | 2.9% |
| Iosco County | 7 | 6 | 2.0% |
| Otsego County | 8 | 7 | 2.2% |
| Antrim County | 8 | 6 | 2.2% |
| Crawford County | 8 | 5 | 2.8% |
| Gladwin County | 9 | 9 | 2.6% |
| Oscoda County | 9 | 3 | 3.3% |
| Montcalm County | 10 | 23 | 2.4% |
| Wexford County | 10 | 12 | 2.7% |
| Roscommon County | 10 | 9 | 2.5% |
| Grand Traverse County | 11 | 23 | 1.9% |
| Mecosta County | 11 | 14 | 3.0% |
| Benzie County | 11 | 5 | 2.3% |
| Osceola County | 11 | 5 | 2.2% |
| Kalamazoo County | 14 | 50 | 1.5% |
| Van Buren County | 14 | 16 | 1.9% |
| Midland County | 18 | 12 | 1.1% |
| Newaygo County | 18 | 10 | 1.6% |
Source: FFIEC/CFPB HMDA 2025 public LAR. Statistical profile, not a review or offer. Methodology