LAKE MICHIGAN CREDIT UNION closing costs and rates (2024)
In 2024, LAKE MICHIGAN CREDIT UNION originated 6,227 purchase mortgages at a median interest rate of 6.50% and median total closing costs of $3,699. That ranks #75 nationally by origination volume. For total closing costs among lenders with 500+ originations, LAKE MICHIGAN CREDIT UNION ranks #91. That is $3,042 below the national median of $6,741. LAKE MICHIGAN CREDIT UNION is most active in Michigan with 5,464 originations there.
Purchase Originations
6,227
Ranked #75 nationally
Median Total Costs
$3,699
−45.1% vs national ($6,741)
Median Rate
6.500%
−1.8% vs national (6.620%)
Median Origination
$1,055
Median Lender Credits
$276
Cost Rank (500+ vol.)
#91
among lenders with 500+ originations
Breakdown by loan type
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 5,896 | 6.500% | $3,636 | $1,030 |
| fha | 243 | 6.375% | $8,211 | $1,385 |
| va | 85 | 6.125% | $5,152 | $1,010 |
Active states
| State | Volume | Median Rate | Median Total Costs | State Rank |
|---|---|---|---|---|
| Michigan | 5,464 | 6.500% | $3,572 | #3 |
| Florida | 555 | 6.500% | $7,293 | #80 |
| Illinois | 65 | 6.000% | $6,346 | #174 |
| Ohio | 57 | 5.990% | $4,256 | #178 |
| Indiana | 44 | 6.000% | $3,065 | — |
| Wisconsin | 32 | 5.990% | $2,920 | — |
| Pennsylvania | 3 | 6.750% | $7,442 | — |
| Minnesota | 2 | 6.178% | $4,562 | — |
| South Carolina | 2 | 6.688% | $3,857 | — |
| Tennessee | 2 | 6.500% | $4,684 | — |
| North Carolina | 1 | 6.375% | $3,355 | — |
Top counties by origination volume
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $3,329 | 6.500% | — | 392 | −$370 | |
| 2 | $3,336 | 6.500% | — | 288 | −$363 | |
| 3 | $3,369 | 6.495% | — | 46 | −$330 | |
| 4 | $3,403 | 6.500% | — | 85 | −$296 | |
| 5 | $3,424 | 6.500% | — | 813 | −$275 | |
| 6 | $3,432 | 6.500% | — | 1,435 | −$267 | |
| 7 | $3,452 | 6.500% | — | 84 | −$247 | |
| 8 | $3,468 | 6.500% | — | 72 | −$231 | |
| 9 | $3,496 | 6.500% | — | 187 | −$203 | |
| 10 | $3,544 | 6.500% | — | 110 | −$155 | |
| 11 | $3,564 | 6.500% | — | 61 | −$135 | |
| 12 | $3,582 | 6.500% | — | 52 | −$117 | |
| 13 | $3,871 | 6.500% | — | 254 | +$172 | |
| 14 | $3,954 | 6.500% | — | 157 | +$255 | |
| 15 | $4,001 | 6.500% | — | 199 | +$302 | |
| 16 | $4,190 | 6.490% | — | 558 | +$491 | |
| 17 | $4,752 | 6.500% | — | 155 | +$1,053 | |
| 18 | $7,038 | 6.620% | — | 64 | +$3,339 | |
| 19 | $7,219 | 6.500% | — | 174 | +$3,520 | |
| 20 | $7,608 | 6.500% | — | 127 | +$3,909 |
Includes lenders with 1+ purchase originations in top counties. Source: HMDA 2024. Sorted by median total loan costs.
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Data source: HMDA Modified Loan Application Register 2024, published by the Consumer Financial Protection Bureau (CFPB).
Statistics reflect originated first-lien purchase mortgages on owner-occupied principal residences. Medians exclude loans with exempt or unreported fee disclosures. Learn more at ffiec.cfpb.gov.