Purchase Originations
175
Median Total Costs
$3,321
−50.3% vs national ($6,680)
↑ $171 vs prior year
Median Rate
6.375%
−1.8% vs national (6.490%)
↓ 0.313% vs prior year
Median Origination
$750
Median Lender Credits
$750
Denial Rate
2.9%
vs national avg (9.0%)
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 175 | 6.375% | $3,321 | $750 |
| State | Volume | Median Rate | Median Total Costs | State Rank |
|---|---|---|---|---|
| Michigan | 175 | 6.375% | $3,321 | #85 |
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $1,857 | 5.750% | — | 1 | −$1,464 | |
| 2 | $2,532 | 6.375% | — | 1 | −$789 | |
| 3 | $2,719 | 6.188% | — | 2 | −$602 | |
| 4 | $2,920 | 6.375% | — | 4 | −$401 | |
| 5 | $2,985 | 6.500% | — | 3 | −$336 | |
| 6 | $3,190 | 6.625% | — | 2 | −$131 | |
| 7 | $3,218 | 6.625% | — | 3 | −$103 | |
| 8 | $3,265 | 6.375% | — | 25 | −$56 | |
| 9 | $3,314 | 6.625% | — | 3 | −$7 | |
| 10 | $3,321 | 6.375% | — | 95 | +$0 | |
| 11 | $3,329 | 6.375% | — | 6 | +$8 | |
| 12 | $3,417 | 6.375% | — | 25 | +$96 | |
| 13 | $3,557 | 6.312% | — | 2 | +$236 | |
| 14 | $3,778 | 6.625% | — | 3 | +$457 |
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 | University OF Michigan Credit Union | Top-50 peer median | Difference |
|---|---|---|---|
| Median loan amount | $295,000 | $335,000 | −$40,000 (−11.9%) |
| Median total closing costs | $3,321 | $7,127 | −$3,806 (−53.4%) |
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.