Purchase Originations
1,070
Ranked #357 nationally
Median Total Costs
$7,506
+12.4% vs national ($6,680)
↑ $76 vs prior year
Median Rate
6.750%
+4.0% vs national (6.490%)
↑ 0.000% vs prior year
Median Origination
$2,432
Median Lender Credits
$335
Cost Rank (500+ vol.)
#405
among lenders with 500+ originations
Denial Rate
7.3%
vs national avg (9.0%)
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 548 | 6.875% | $6,162 | $2,897 |
| fha | 393 | 6.750% | $9,896 | $2,421 |
| va | 105 | 6.625% | $4,744 | $0 |
| usda | 24 | 6.688% | $7,036 | $2,070 |
| State | Volume | Median Rate | Median Total Costs | State Rank |
|---|---|---|---|---|
| Michigan | 348 | 6.875% | $6,215 | #58 |
| Florida | 126 | 6.750% | $10,375 | #206 |
| Pennsylvania | 93 | 6.750% | $7,787 | #166 |
| California | 77 | 6.625% | $12,880 | #221 |
| North Carolina | 57 | 6.500% | $6,275 | #193 |
| Ohio | 55 | 6.990% | $7,739 | #180 |
| Indiana | 31 | 6.625% | $8,187 | — |
| Arizona | 30 | 6.688% | $9,871 | — |
| Maryland | 25 | 6.625% | $10,961 | — |
| Illinois | 24 | 6.750% | $7,969 | — |
| Alabama | 22 | 6.750% | $6,006 | — |
| Iowa | 22 | 6.625% | $4,085 | — |
| Colorado | 21 | 6.625% | $6,188 | — |
| Texas | 16 | 6.688% | $10,220 | — |
| New Mexico | 14 | 6.625% | $7,807 | — |
| Tennessee | 14 | 6.933% | $8,727 | — |
| Oklahoma | 13 | 6.625% | $7,429 | — |
| Georgia | 9 | 6.625% | $8,843 | — |
| Kentucky | 9 | 6.750% | $6,802 | — |
| South Carolina | 9 | 6.500% | $10,124 | — |
| Wisconsin | 9 | 6.750% | $6,671 | — |
| Minnesota | 7 | 6.500% | $8,935 | — |
| Washington | 7 | 6.625% | $10,108 | — |
| New Jersey | 6 | 6.688% | $10,652 | — |
| Missouri | 5 | 6.250% | $4,761 | — |
| West Virginia | 5 | 6.250% | $11,503 | — |
| Kansas | 3 | 7.250% | $9,069 | — |
| Louisiana | 3 | 7.250% | $6,498 | — |
| Virginia | 3 | 6.250% | $11,282 | — |
| Arkansas | 2 | 6.250% | $7,946 | — |
| Nevada | 2 | 6.688% | $6,681 | — |
| Maine | 1 | 5.875% | $17,184 | — |
| Mississippi | 1 | 6.990% | $12,041 | — |
| Utah | 1 | 5.375% | $12,272 | — |
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $4,869 | 6.875% | — | 71 | −$2,637 | |
| 2 | $5,487 | 6.933% | — | 8 | −$2,019 | |
| 3 | $5,563 | 6.250% | — | 21 | −$1,943 | |
| 4 | $5,784 | 6.750% | — | 11 | −$1,722 | |
| 5 | $5,982 | 6.990% | — | 58 | −$1,524 | |
| 6 | $6,549 | 7.250% | — | 61 | −$957 | |
| 7 | $6,859 | 7.125% | — | 11 | −$647 | |
| 8 | $7,035 | 6.990% | — | 11 | −$471 | |
| 9 | $7,146 | 6.875% | — | 43 | −$360 | |
| 10 | $7,155 | 7.250% | — | 11 | −$351 | |
| 11 | $7,479 | 6.812% | — | 8 | −$27 | |
| 12 | $7,769 | 6.250% | — | 8 | +$263 | |
| 13 | $8,602 | 6.990% | — | 10 | +$1,096 | |
| 14 | $9,383 | 6.750% | — | 10 | +$1,877 | |
| 15 | $9,900 | 6.688% | — | 18 | +$2,394 | |
| 16 | $9,986 | 6.875% | — | 11 | +$2,480 | |
| 17 | $10,498 | 6.875% | — | 12 | +$2,992 | |
| 18 | $10,875 | 6.812% | — | 12 | +$3,369 | |
| 19 | $11,507 | 6.375% | — | 39 | +$4,001 | |
| 20 | $24,505 | 6.562% | — | 10 | +$16,999 |
Includes lenders with 1+ purchase originations in top counties. Source: HMDA 2025. Sorted by median total loan costs.
Peer set: the 50 highest-volume U.S. mortgage lenders in 2025 (min. 8,254 purchase originations).
| Metric | Michigan Mutual, Inc. | Top-50 peer median | Difference |
|---|---|---|---|
| Median loan amount | $255,000 | $335,000 | −$80,000 (−23.9%) |
| Median total closing costs | $7,506 | $7,127 | +$379 (+5.3%) |
Other high-volume lenders side-by-side.
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Data source: HMDA Modified Loan Application Register 2025, 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.