Lender in Michigan · HMDA 2025
Rate mortgages in Michigan
Rate's 2025 home-purchase and refinance lending in Michigan, compared with all lenders in the state.
Rate originated 1,403 owner-occupied single-family loans in Michigan from 1,503 completed applications, making it the state's #16 lender by volume.
Its median conventional purchase loan costs were $4,500 versus $4,140 for all Michigan lenders, at a median 30-year fixed rate of 6.625% (Michigan: 6.625%).
Loans in MI
1,403
of 1,503 applications
Denial rate
3.3%
Purchase · MI 7.8%
Rate spread
+0.30 pts
Conv. · MI +0.23 pts
Loan amount
$235,000
Purchase · MI $245,000
By loan purpose
| Purpose | Applications | Loans | Denial rate | 30-yr rate* | Rate spread* | Loan costs* | Median loan |
|---|---|---|---|---|---|---|---|
| Home purchase | 1,206 | 1,158 | 3.3% | 6.625% | +0.30 pts | $4,500 | $235,000 |
| Refinance | 165 | 153 | 5.5% | 6.500% | +0.19 pts | $3,480 | $325,000 |
| Cash-out refinance | 132 | 92 | 28.8% | 6.990% | +0.46 pts | $4,040 | $235,000 |
*Conventional loans only; medians with at least 20 loans.
Michigan counties where Rate ranks in the top 25
| County | Rank | Loans | Market share |
|---|---|---|---|
| Menominee County | 2 | 23 | 12.0% |
| Macomb County | 8 | 248 | 1.9% |
| Midland County | 10 | 31 | 2.8% |
| Gladwin County | 11 | 8 | 2.3% |
| Delta County | 11 | 4 | 2.1% |
| Wayne County | 12 | 321 | 1.7% |
| Bay County | 12 | 32 | 2.3% |
| Grand Traverse County | 12 | 21 | 1.8% |
| Presque Isle County | 12 | 2 | 2.4% |
| Saginaw County | 13 | 42 | 1.9% |
| Leelanau County | 13 | 5 | 2.2% |
| Berrien County | 14 | 25 | 1.4% |
| Oakland County | 15 | 243 | 1.3% |
| Gratiot County | 15 | 9 | 2.1% |
| St. Clair County | 16 | 32 | 1.4% |
| Ingham County | 17 | 35 | 1.1% |
| Isabella County | 17 | 8 | 1.4% |
| Calhoun County | 18 | 20 | 1.1% |
| Wexford County | 19 | 6 | 1.3% |
| Otsego County | 22 | 3 | 0.9% |
| Houghton County | 24 | 2 | 0.6% |
| Sanilac County | 25 | 4 | 0.9% |
Source: FFIEC/CFPB HMDA 2025 public LAR. Statistical profile, not a review or offer. Methodology