MICHIGAN FIRST CREDIT UNION closing costs and rates (2024)
In 2024, MICHIGAN FIRST CREDIT UNION originated 582 purchase mortgages at a median interest rate of 6.62% and median total closing costs of $3,754. That ranks #579 nationally by origination volume. For total closing costs among lenders with 500+ originations, MICHIGAN FIRST CREDIT UNION ranks #96. That is $2,987 below the national median of $6,741. MICHIGAN FIRST CREDIT UNION is most active in Michigan with 568 originations there.
Purchase Originations
582
Ranked #579 nationally
Median Total Costs
$3,754
−44.3% vs national ($6,741)
Median Rate
6.625%
+0.1% vs national (6.620%)
Median Origination
$1,195
Median Lender Credits
$655
Cost Rank (500+ vol.)
#96
among lenders with 500+ originations
Breakdown by loan type
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 480 | 6.625% | $3,616 | $1,195 |
| fha | 91 | 6.625% | $7,002 | $1,747 |
Active states
| State | Volume | Median Rate | Median Total Costs | State Rank |
|---|---|---|---|---|
| Michigan | 568 | 6.625% | $3,745 | #33 |
| Florida | 3 | 6.750% | $5,656 | — |
| Tennessee | 3 | 6.750% | $3,958 | — |
| Virginia | 2 | 9.000% | $7,836 | — |
| Illinois | 1 | 10.750% | $9,230 | — |
| Indiana | 1 | 6.875% | $2,748 | — |
| Kentucky | 1 | 6.000% | $3,911 | — |
| North Carolina | 1 | 7.000% | $2,852 | — |
| South Carolina | 1 | 6.500% | $3,962 | — |
| Washington | 1 | 10.500% | $9,875 | — |
Top counties by origination volume
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $3,112 | 6.875% | — | 3 | −$642 | |
| 2 | $3,199 | 6.750% | — | 2 | −$555 | |
| 3 | $3,264 | 6.250% | — | 4 | −$490 | |
| 4 | $3,311 | 6.625% | — | 17 | −$443 | |
| 5 | $3,461 | 7.250% | — | 4 | −$293 | |
| 6 | $3,513 | 6.438% | — | 12 | −$241 | |
| 7 | $3,547 | 6.500% | — | 58 | −$207 | |
| 8 | $3,588 | 6.812% | — | 6 | −$166 | |
| 9 | $3,606 | 6.500% | — | 3 | −$148 | |
| 10 | $3,704 | 6.688% | — | 2 | −$50 | |
| 11 | $3,735 | 6.500% | — | 3 | −$19 | |
| 12 | $3,777 | 6.875% | — | 116 | +$23 | |
| 13 | $3,779 | 6.875% | — | 12 | +$25 | |
| 14 | $3,818 | 6.625% | — | 70 | +$64 | |
| 15 | $3,845 | 6.625% | — | 202 | +$91 | |
| 16 | $4,366 | 6.250% | — | 10 | +$612 | |
| 17 | $5,085 | 7.250% | — | 3 | +$1,331 | |
| 18 | $5,338 | 6.875% | — | 3 | +$1,584 | |
| 19 | $6,284 | 6.625% | — | 6 | +$2,530 | |
| 20 | $7,369 | 6.438% | — | 6 | +$3,615 |
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.