Median Total Costs
$4,514
−32.4% vs national ($6,680)
↑ $76 vs prior year
Median Rate
6.620%
+2.0% vs national (6.490%)
Median Origination
$1,625
Purchase Originations
85,764
Denial Rate
12.0%
vs national avg (9.0%)
Michigan is a non-judicial foreclosure state that primarily uses a deed of trust instrument, allowing lenders to foreclose through a power-of-sale process without court involvement. The statutory redemption period after foreclosure sale is generally six months, though it can extend to twelve months in certain circumstances. Michigan is not an attorney-closing state; licensed title companies and escrow agents routinely handle closings, though attorneys may be engaged optionally. Transfer taxes are levied at both the state and county levels: the state charges $3.75 per $500 of value, and counties may charge up to $0.55 per $500. By custom, the seller typically pays the state transfer tax and the county transfer tax, though this is negotiable. Michigan's title insurance market operates under a file-and-use rate system regulated by the Department of Insurance and Financial Services (DIFS). Prepayment penalties on residential mortgage loans are restricted under Michigan's Secondary Mortgage Loan Act and related statutes. The DIFS serves as the primary state-level consumer protection regulator for mortgage lending activity.
Conventional loans dominate Michigan's purchase market, accounting for 78.8% of originations per HMDA 2024 data, reflecting a relatively broad base of buyers with sufficient credit and down-payment resources. FHA loans make up 14.4% of volume, a share consistent with the state's mix of first-time and lower-credit buyers in mid-tier markets. VA loans represent 6.0% of originations, supported by a meaningful but not outsized military and veteran population. USDA loans are a small slice at 0.9%, reflecting limited rural-eligible geography relative to Michigan's overall purchase activity.
Lake Michigan Credit Union
A Grand Rapids–based credit union with broad Michigan retail presence, Lake Michigan Credit Union ranked third in the state by purchase origination volume in the HMDA 2024 data, posting a median total closing cost of $3,572 — the lowest among Michigan's top five lenders by volume.
Flagstar Bank, National Association
Flagstar has deep Michigan roots, having been headquartered in Troy for decades before its acquisition by New York Community Bancorp. It remains an active retail and correspondent lender in the state, recording a median total closing cost of $4,055 across 2,384 purchase originations in the HMDA 2024 data.
Rocket Mortgage, LLC
Headquartered in Detroit, Rocket Mortgage is Michigan's second-largest purchase lender by HMDA 2024 volume with 7,745 originations. Its digital-first model is well established in the state, with a median total closing cost of $4,832.
| Loan type | Volume | Median Rate | Median Total Costs |
|---|---|---|---|
| conventional | 66,685 | 6.625% | $4,148 |
| fha | 12,883 | 6.625% | $8,344 |
| va | 5,567 | 6.250% | $4,807 |
| usda | 629 | 6.500% | $6,684 |
Ranked by median total loan costs among lenders with 50+ purchase originations in Michigan.
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $200 | 6.400% | $0 | 64 | −$4,314 | |
| 2 | $1,328 | 6.000% | $530 | 579 | −$3,186 | |
| 3 | $1,939 | 6.375% | $0 | 400 | −$2,575 | |
| 4 | $2,192 | 10.350% | $1,251 | 104 | −$2,322 | |
| 5 | $2,425 | 6.500% | $576 | 52 | −$2,089 | |
| 6 | $2,556 | 6.625% | $550 | 116 | −$1,958 | |
| 7 | $2,709 | 6.750% | $995 | 56 | −$1,805 | |
| 8 | $2,747 | 6.625% | $200 | 145 | −$1,767 | |
| 9 | $2,779 | 6.433% | $180 | 82 | −$1,735 | |
| 10 | $2,803 | 6.500% | $645 | 65 | −$1,711 | |
| 11 | $2,850 | 5.875% | $741 | 658 | −$1,664 | |
| 12 | $2,873 | 6.625% | $975 | 139 | −$1,641 | |
| 13 | $2,879 | 6.125% | $0 | 473 | −$1,635 | |
| 14 | $3,033 | 6.875% | $1,250 | 78 | −$1,481 | |
| 15 | $3,097 | 6.500% | $1,150 | 143 | −$1,417 | |
| 16 | $3,137 | 6.875% | $1,167 | 135 | −$1,377 | |
| 17 | $3,162 | 6.250% | $950 | 386 | −$1,352 | |
| 18 | $3,176 | 6.375% | $1,065 | 97 | −$1,338 | |
| 19 | $3,182 | 6.500% | $995 | 167 | −$1,332 | |
| 20 | $3,268 | 6.375% | $250 | 62 | −$1,246 | |
| 21 | $3,275 | 6.500% | $965 | 133 | −$1,239 | |
| 22 | $3,275 | 6.490% | $766 | 77 | −$1,239 | |
| 23 | $3,287 | 6.625% | $1,195 | 101 | −$1,227 | |
| 24 | $3,292 | 6.625% | $845 | 248 | −$1,222 | |
| 25 | $3,298 | 6.112% | $695 | 74 | −$1,216 |
Includes lenders with 50+ purchase originations in Michigan. Source: HMDA 2025. Sorted by median total loan costs.
Total closing costs in Michigan typically fall in a moderate range relative to loan size, with the statewide HMDA 2024 median at $4,438 on a $235,000 median loan — roughly 1.9% of loan amount. Title insurance and settlement fees are among the largest line items and tend to show the most variation between providers; buyers in Michigan can shop both owner's and lender's title policies. Lender origination charges are the second key variable — the spread across top-five lenders in HMDA data is substantial. Government-backed loans carry additional cost layers: FHA loans showed a median of $8,424 in total costs, partly reflecting upfront mortgage insurance premiums. Prepaid items such as homeowners insurance and per-diem interest are often underestimated and should be factored into cash-to-close projections.
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Grades A–F from verified closing disclosure and loan estimate uploads — not industry medians.
Wayne County
12,558 originations
Oakland County
12,433 originations
Macomb County
8,537 originations
Kent County
6,240 originations
Genesee County
3,798 originations
Washtenaw County
2,805 originations
Ottawa County
2,616 originations
Ingham County
2,434 originations
Kalamazoo County
2,343 originations
Livingston County
1,995 originations
Muskegon County
1,798 originations
Monroe County
1,529 originations
St. Clair County
1,508 originations
Saginaw County
1,460 originations
Jackson County
1,430 originations
Berrien County
1,247 originations
Calhoun County
1,189 originations
Allegan County
1,078 originations
Eaton County
1,047 originations
Lenawee County
897 originations
Bay County
885 originations
Lapeer County
858 originations
Grand Traverse County
787 originations
Clinton County
771 originations
Midland County
753 originations
Shiawassee County
674 originations
Montcalm County
626 originations
Van Buren County
607 originations
Ionia County
590 originations
Barry County
563 originations
St. Joseph County
545 originations
Isabella County
505 originations
Cass County
444 originations
Tuscola County
433 originations
Newaygo County
425 originations
Marquette County
339 originations
Mecosta County
325 originations
Branch County
308 originations
Clare County
308 originations
Gratiot County
299 originations
Wexford County
298 originations
Hillsdale County
279 originations
Sanilac County
254 originations
Gladwin County
242 originations
Emmet County
234 originations
Roscommon County
232 originations
Otsego County
214 originations
Iosco County
193 originations
Antrim County
190 originations
Osceola County
182 originations
Houghton County
182 originations
Oceana County
162 originations
Huron County
161 originations
Ogemaw County
159 originations
Alpena County
159 originations
Chippewa County
159 originations
Manistee County
157 originations
Dickinson County
154 originations
Kalkaska County
147 originations
Charlevoix County
146 originations
Cheboygan County
137 originations
Leelanau County
136 originations
Mason County
127 originations
Menominee County
119 originations
Benzie County
118 originations
Delta County
117 originations
Crawford County
114 originations
Missaukee County
108 originations
Gogebic County
107 originations
Arenac County
106 originations
Montmorency County
106 originations
Lake County
105 originations
See Michigan closing cost details, fee benchmarks, and county comparisons → Michigan Closing Costs Guide
Found your lender? Make sure their quote is fair.
HMDA data shows industry-wide medians. Your actual quote may differ. Upload your Closing Disclosure or Loan Estimate to see exactly where your fees stand — and get a ready-to-send negotiation email.
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.