Applications / Mortgage Analytics / Lenders / Michigan / Mortgage 1
Sterling Heights, MI · Independent non-bank lender · CFPB · 3,663 loans in 2025
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3,663
loans originated, 2025
4,573
applications, 2025
10
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Mortgage 1 is a Michigan home-purchase lender of small loans to modest earners, second only to Lake Michigan Credit Union around Muskegon.
Its typical loan in 2025 was $225,000, smaller than at more than nine in ten similar lenders (independent non-bank lenders making between half and twice as many loans), whose typical loan was $315,000. Borrowers of low or moderate income took 40.5% of its loans, against 28.2% for the typical peer. Purchases made up 82.6% of its lending.
It ranks second of 233 lenders around Muskegon-Norton Shores, with 6.9% of lending. Around Grand Rapids it gained share, from 1.6% to 1.8%, and ranks tenth of 436. It also lends in Florida, holding 0.8% of the Cape Coral-Fort Myers market.
It made 3,663 loans in 2025, 2% more than in 2024, while similar lenders and the whole market each grew by 10%. Its lending has been roughly flat for three years, at under a third of the 11,596 loans it made in 2020. Its typical rate was 3.25% that year and 6.62% in 2025; dearer money may have kept many would-be borrowers away.
It denied 1.9% of decided home-purchase applications, against 4.1% for the typical peer, and 2.9% of refinance applications, against 6.8%. Its typical rate, 6.62%, matched peers'.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Mortgage 1 took 4,573 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 82.6% · Refinance 17.4%
Conventional 76.9% · FHA 18.1% · VA 4.3% · USDA (RHS or FSA) 0.7% · of 3,663 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Michigan | 3,342 | 91.2% |
| Florida | 244 | 6.7% |
| Ohio | 46 | 1.3% |
| Indiana | 10 | 0.3% |
| California | 7 | 0.2% |
| Illinois | 7 | 0.2% |
| Connecticut | 3 | 0.1% |
| Kentucky | 2 | 0.1% |
| Minnesota | 1 | 0.0% |
| Texas | 1 | 0.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Warren-Troy-Farmington Hills | 1,265 |
| Grand Rapids-Wyoming-Kentwood | 465 |
| Detroit-Dearborn-Livonia | 404 |
| Muskegon-Norton Shores | 297 |
| Cape Coral-Fort Myers | 186 |
| Flint | 102 |
| Ann Arbor | 63 |
| Lansing-East Lansing | 62 |
| Monroe | 53 |
| Jackson | 45 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300IWE0Y507LPF493 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 3871920 | 2010–2023 |
| Respondent ID (the HMDA filer code before 2018) | 77687600009 | 2004–2017 |
Established 1 January 1994. Reported under HMDA 2004-2025.
Mergers, name changes, data editions and corrections: Mortgage 1's data.
Mortgage 1's data
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