Top Mortgage Lenders in Traverse City, MI

Which mortgage lender in the Traverse City, MI area typically has the best rates? To help you narrow down where to shop for a mortgage, we provide a data driven ranking of mortgage lenders in the Traverse City, MI area by interest rate and market share. We use data on all fixed rate mortgages that were closed in the past year to generate our rankings. We do not receive any compensation from lenders and strive to provide the most objective and authoritative ranking possible.

Based on our data, the cheapest overall lender in the Traverse City, MI area is TCF National Bank, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.14%. This means that TCF National Bank provided a -0.14% lower interest rate for its customers than other lenders in Traverse City, MI for a similar set of borrowers. TCF National Bank has a market share of 5.8%. On the other hand, the most popular lender in the market is Quicken Loans, with a market share of 17.1%. However, Quicken Loans also tends to be an expensive lender in the area, with an average “Rate Difference” of +0.15% relative to those of other lenders. We recommend shopping around before going with this popular lender.

Our detailed rankings of the mortgage lenders for the Traverse City, MI area is shown in the table below. In the table, we also give our assessment of whether they are, on average, a cheap/expensive lender through a star rating system. You can choose to tailor our ranking table to a specific mortgage type (Conventional/Jumbo/FHA/VA) and purpose (purchase/refinance) through the drop-down menu. For example, the cheapest lender for Conventional mortgages in Traverse City, MI is TCF National Bank. If you want to take out a loan that is above conforming limits (for example, above $510,400 in 2020), the cheapest Jumbo mortgage provider is Huntington National Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Lake Michigan Credit Union. The cheapest VA mortgage provider is TCF National Bank. Nevertheless, to get the lowest rate for your mortgage, we would suggest shopping and negotiating among several of our top ranked lenders for your desired mortgage type and purpose.

Ranking of Mortgage Lenders in Traverse City, MI

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
TCF National Bank 1, -0.14% 5.77%
Huntington National Bank 2, -0.10% 8.60%
Lake Michigan Credit Union 3, -0.09% 13.82%
JPMorgan Chase Bank 4, -0.07% 6.36%
Fifth Third Bank, National Association 5, -0.07% 7.39%
MBank 6, -0.07% 1.83%
Bank of America 7, -0.06% 1.42%
Member First Mortgage 8, -0.02% 1.21%
Pnc Bank 9, -0.02% 1.38%
Michigan State University Federal Credit Union 10, -0.02% 1.11%
Wells Fargo Bank 11, 0.00% 2.63%
John Adams Mortgage Co 12, 0.01% 2.80%
LoanDepot 13, 0.01% 1.14%
Union Home Mortgage Company 14, 0.02% 2.42%
Credit Union One 15, 0.03% 2.73%
Flagstar Bank 16, 0.03% 1.07%
GSF Mortgage Corporation 17, 0.04% 1.07%
Caliber Home Loans Inc 18, 0.05% 6.74%
Independent Bank 19, 0.05% 7.43%
Amerifirst Financial Corporation 20, 0.10% 2.04%
Chemecal Bank 21, 0.11% 4.01%
Quicken Loans 22, 0.15% 17.06%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Bank of America 1, -0.09% 1.87%
Huntington National Bank 2, -0.08% 7.40%
TCF National Bank 3, -0.08% 3.80%
Lake Michigan Credit Union 4, -0.07% 17.70%
JPMorgan Chase Bank 5, -0.07% 5.12%
Fifth Third Bank, National Association 6, -0.06% 7.40%
Pnc Bank 7, -0.03% 1.45%
Credit Union One 8, -0.02% 1.18%
Wells Fargo Bank 9, -0.01% 2.97%
Michigan State University Federal Credit Union 10, -0.01% 1.38%
Member First Mortgage 11, -0.01% 1.31%
LoanDepot 12, -0.00% 0.14%
John Adams Mortgage Co 13, -0.00% 4.36%
MBank 14, -0.00% 1.45%
Flagstar Bank 15, 0.03% 1.45%
Union Home Mortgage Company 16, 0.03% 3.32%
GSF Mortgage Corporation 17, 0.05% 1.80%
Independent Bank 18, 0.06% 8.64%
Caliber Home Loans Inc 19, 0.08% 9.68%
Chemecal Bank 20, 0.08% 3.87%
Quicken Loans 21, 0.10% 10.30%
Amerifirst Financial Corporation 22, 0.11% 3.39%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
TCF National Bank 1, -0.16% 7.73%
Lake Michigan Credit Union 2, -0.13% 9.94%
Huntington National Bank 3, -0.11% 9.80%
MBank 4, -0.11% 2.21%
Fifth Third Bank, National Association 5, -0.07% 7.38%
JPMorgan Chase Bank 6, -0.07% 7.59%
Member First Mortgage 7, -0.04% 1.10%
Michigan State University Federal Credit Union 8, -0.03% 0.83%
Caliber Home Loans Inc 9, -0.02% 3.80%
Pnc Bank 10, -0.01% 1.31%
Bank of America 11, -0.01% 0.97%
Union Home Mortgage Company 12, -0.01% 1.52%
GSF Mortgage Corporation 13, 0.00% 0.35%
LoanDepot 14, 0.01% 2.14%
Wells Fargo Bank 15, 0.03% 2.28%
Amerifirst Financial Corporation 16, 0.03% 0.69%
Independent Bank 17, 0.04% 6.21%
Flagstar Bank 18, 0.04% 0.69%
Credit Union One 19, 0.04% 4.28%
John Adams Mortgage Co 20, 0.04% 1.24%
Chemecal Bank 21, 0.13% 4.14%
Quicken Loans 22, 0.17% 23.81%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
TCF National Bank 1, -0.15% 5.83%
Huntington National Bank 2, -0.11% 8.87%
Lake Michigan Credit Union 3, -0.10% 14.34%
JPMorgan Chase Bank 4, -0.08% 6.97%
Fifth Third Bank, National Association 5, -0.08% 7.82%
Bank of America 6, -0.07% 1.34%
MBank 7, -0.07% 2.15%
LoanDepot 8, -0.03% 0.85%
Member First Mortgage 9, -0.03% 1.22%
Michigan State University Federal Credit Union 10, -0.02% 1.13%
Pnc Bank 11, -0.02% 1.42%
Wells Fargo Bank 12, 0.00% 2.71%
John Adams Mortgage Co 13, 0.01% 2.92%
Union Home Mortgage Company 14, 0.02% 2.35%
Credit Union One 15, 0.03% 3.20%
GSF Mortgage Corporation 16, 0.04% 0.81%
Flagstar Bank 17, 0.04% 0.93%
Amerifirst Financial Corporation 18, 0.05% 1.42%
Independent Bank 19, 0.06% 8.14%
Caliber Home Loans Inc 20, 0.06% 5.79%
Chemecal Bank 21, 0.12% 4.25%
Quicken Loans 22, 0.20% 15.52%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Bank of America 1, -0.10% 1.82%
TCF National Bank 2, -0.09% 3.73%
Huntington National Bank 3, -0.08% 7.45%
JPMorgan Chase Bank 4, -0.07% 5.63%
Fifth Third Bank, National Association 5, -0.07% 7.95%
Lake Michigan Credit Union 6, -0.07% 19.04%
Pnc Bank 7, -0.03% 1.57%
Credit Union One 8, -0.02% 1.41%
Wells Fargo Bank 9, -0.02% 3.15%
Michigan State University Federal Credit Union 10, -0.01% 1.49%
Member First Mortgage 11, -0.01% 1.24%
LoanDepot 12, -0.00% 0.17%
John Adams Mortgage Co 13, -0.00% 4.47%
MBank 14, 0.00% 1.74%
Union Home Mortgage Company 15, 0.04% 2.98%
Flagstar Bank 16, 0.05% 1.24%
GSF Mortgage Corporation 17, 0.05% 1.32%
Amerifirst Financial Corporation 18, 0.06% 2.24%
Independent Bank 19, 0.07% 9.85%
Chemecal Bank 20, 0.10% 4.06%
Caliber Home Loans Inc 21, 0.10% 7.95%
Quicken Loans 22, 0.13% 9.52%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
TCF National Bank 1, -0.18% 7.86%
Lake Michigan Credit Union 2, -0.15% 9.84%
Huntington National Bank 3, -0.12% 10.24%
MBank 4, -0.11% 2.54%
Fifth Third Bank, National Association 5, -0.08% 7.70%
JPMorgan Chase Bank 6, -0.08% 8.25%
Member First Mortgage 7, -0.05% 1.19%
Michigan State University Federal Credit Union 8, -0.04% 0.79%
LoanDepot 9, -0.04% 1.51%
Caliber Home Loans Inc 10, -0.02% 3.73%
Pnc Bank 11, -0.02% 1.27%
Bank of America 12, -0.02% 0.87%
Union Home Mortgage Company 13, -0.00% 1.75%
GSF Mortgage Corporation 14, 0.01% 0.32%
Wells Fargo Bank 15, 0.03% 2.30%
Amerifirst Financial Corporation 16, 0.03% 0.63%
Independent Bank 17, 0.04% 6.51%
Flagstar Bank 18, 0.04% 0.63%
Credit Union One 19, 0.04% 4.92%
John Adams Mortgage Co 20, 0.04% 1.43%
Chemecal Bank 21, 0.14% 4.44%
Quicken Loans 22, 0.22% 21.27%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Lake Michigan Credit Union 1, -0.12% 7.66%
Huntington National Bank 2, -0.09% 7.21%
TCF National Bank 3, -0.06% 3.15%
Member First Mortgage 4, -0.02% 0.90%
Quicken Loans 5, -0.02% 31.08%
Chemecal Bank 6, -0.01% 1.80%
Fifth Third Bank, National Association 7, -0.01% 3.60%
Union Home Mortgage Company 8, -0.00% 2.25%
Flagstar Bank 9, -0.00% 2.70%
Pnc Bank 10, 0.00% 0.90%
John Adams Mortgage Co 11, 0.01% 2.70%
Caliber Home Loans Inc 12, 0.02% 18.02%
Independent Bank 13, 0.04% 2.25%
GSF Mortgage Corporation 14, 0.05% 4.05%
Wells Fargo Bank 15, 0.06% 0.90%
LoanDepot 16, 0.08% 2.70%
Amerifirst Financial Corporation 17, 0.20% 8.11%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Lake Michigan Credit Union 1, -0.14% 10.96%
Huntington National Bank 2, -0.11% 8.22%
TCF National Bank 3, -0.08% 4.11%
Member First Mortgage 4, -0.03% 1.37%
Flagstar Bank 5, -0.02% 2.74%
Chemecal Bank 6, -0.02% 2.05%
Fifth Third Bank, National Association 7, -0.02% 2.74%
Quicken Loans 8, -0.01% 15.07%
Union Home Mortgage Company 9, -0.01% 3.42%
John Adams Mortgage Co 10, 0.00% 4.11%
Caliber Home Loans Inc 11, 0.02% 25.34%
GSF Mortgage Corporation 12, 0.04% 6.16%
Independent Bank 13, 0.05% 2.74%
Amerifirst Financial Corporation 14, 0.21% 10.96%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Huntington National Bank 1, -0.03% 5.26%
Quicken Loans 2, -0.02% 61.84%
Fifth Third Bank, National Association 3, 0.00% 5.26%
Lake Michigan Credit Union 4, 0.00% 1.32%
Caliber Home Loans Inc 5, 0.00% 3.95%
Independent Bank 6, 0.01% 1.32%
TCF National Bank 7, 0.01% 1.32%
Pnc Bank 8, 0.01% 2.63%
Chemecal Bank 9, 0.01% 1.32%
Amerifirst Financial Corporation 10, 0.03% 2.63%
Flagstar Bank 11, 0.04% 2.63%
Wells Fargo Bank 12, 0.07% 2.63%
LoanDepot 13, 0.09% 7.89%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Huntington National Bank 1, -0.02% 12.50%
Bank of America 2, -0.01% 8.33%
Lake Michigan Credit Union 3, -0.01% 22.92%
Fifth Third Bank, National Association 4, -0.00% 7.29%
Pnc Bank 5, -0.00% 3.12%
Quicken Loans 6, -0.00% 3.12%
Michigan State University Federal Credit Union 7, -0.00% 4.17%
Flagstar Bank 8, -0.00% 1.04%
John Adams Mortgage Co 9, 0.00% 1.04%
Wells Fargo Bank 10, 0.01% 4.17%
Caliber Home Loans Inc 11, 0.01% 1.04%
TCF National Bank 12, 0.01% 8.33%
JPMorgan Chase Bank 13, 0.02% 11.46%
Independent Bank 14, 0.02% 7.29%
Chemecal Bank 15, 0.02% 4.17%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Bank of America 1, -0.02% 12.50%
Pnc Bank 2, -0.01% 5.00%
Fifth Third Bank, National Association 3, -0.01% 7.50%
Lake Michigan Credit Union 4, -0.00% 20.00%
Michigan State University Federal Credit Union 5, -0.00% 5.00%
Flagstar Bank 6, -0.00% 2.50%
Quicken Loans 7, -0.00% 2.50%
Huntington National Bank 8, 0.00% 10.00%
John Adams Mortgage Co 9, 0.00% 2.50%
TCF National Bank 10, 0.01% 5.00%
Wells Fargo Bank 11, 0.01% 5.00%
Independent Bank 12, 0.01% 2.50%
JPMorgan Chase Bank 13, 0.02% 15.00%
Chemecal Bank 14, 0.02% 5.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Huntington National Bank 1, -0.03% 14.29%
Lake Michigan Credit Union 2, -0.01% 25.00%
Quicken Loans 3, -0.00% 3.57%
Bank of America 4, -0.00% 5.36%
Fifth Third Bank, National Association 5, -0.00% 7.14%
Michigan State University Federal Credit Union 6, 0.00% 3.57%
Wells Fargo Bank 7, 0.00% 3.57%
Caliber Home Loans Inc 8, 0.01% 1.79%
Pnc Bank 9, 0.01% 1.79%
TCF National Bank 10, 0.01% 10.71%
Independent Bank 11, 0.02% 10.71%
JPMorgan Chase Bank 12, 0.02% 8.93%
Chemecal Bank 13, 0.02% 3.57%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
TCF National Bank 1, -0.07% 7.34%
Lake Michigan Credit Union 2, -0.04% 6.42%
John Adams Mortgage Co 3, -0.03% 1.83%
Member First Mortgage 4, -0.03% 2.75%
Huntington National Bank 5, -0.03% 1.83%
Chemecal Bank 6, -0.03% 2.75%
GSF Mortgage Corporation 7, -0.02% 1.83%
Flagstar Bank 8, -0.02% 0.92%
Fifth Third Bank, National Association 9, -0.02% 5.50%
Union Home Mortgage Company 10, -0.02% 6.42%
Wells Fargo Bank 11, -0.01% 2.75%
JPMorgan Chase Bank 12, -0.01% 0.92%
Independent Bank 13, -0.01% 1.83%
Caliber Home Loans Inc 14, 0.01% 10.09%
Quicken Loans 15, 0.02% 35.78%
Amerifirst Financial Corporation 16, 0.05% 5.50%
LoanDepot 17, 0.06% 5.50%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Member First Mortgage 1, -0.04% 3.85%
John Adams Mortgage Co 2, -0.04% 3.85%
TCF National Bank 3, -0.03% 3.85%
Huntington National Bank 4, -0.03% 1.92%
Chemecal Bank 5, -0.03% 3.85%
Lake Michigan Credit Union 6, -0.03% 3.85%
Fifth Third Bank, National Association 7, -0.03% 7.69%
Flagstar Bank 8, -0.02% 1.92%
Union Home Mortgage Company 9, -0.02% 13.46%
Wells Fargo Bank 10, -0.02% 5.77%
GSF Mortgage Corporation 11, -0.01% 1.92%
Independent Bank 12, 0.00% 1.92%
Quicken Loans 13, 0.01% 21.15%
Caliber Home Loans Inc 14, 0.04% 13.46%
Amerifirst Financial Corporation 15, 0.05% 11.54%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
TCF National Bank 1, -0.08% 10.53%
Lake Michigan Credit Union 2, -0.04% 8.77%
Caliber Home Loans Inc 3, -0.04% 7.02%
GSF Mortgage Corporation 4, -0.03% 1.75%
Huntington National Bank 5, -0.02% 1.75%
Member First Mortgage 6, -0.02% 1.75%
Chemecal Bank 7, -0.02% 1.75%
Independent Bank 8, -0.02% 1.75%
JPMorgan Chase Bank 9, -0.01% 1.75%
Fifth Third Bank, National Association 10, -0.00% 3.51%
Quicken Loans 11, 0.02% 49.12%
LoanDepot 12, 0.06% 10.53%

* Data is compiled for the Traverse City, MI commuting zone area, which comprises of counties of Antrim County, MI, Benzie County, MI, Grand Traverse County, MI, Kalkaska County, MI, and Leelanau County, MI. This includes cities/towns/communities of Traverse City, MI as well as Grawn, MI, Kingsley, MI, Interlochen, MI, Nessen City, MI, Suttons Bay, MI, Fife Lake, MI, Cedar, MI, Leland, MI, Bellaire, MI, Alden, MI, Elk Rapids, MI, Empire, MI, Northport, MI, Rapid City, MI, Lakes of the North, MI, Ellsworth, MI, Central Lake, MI, Kalkaska, MI, Beulah, MI, Manistee Lake, MI, South Boardman, MI, Crystal Mountain, MI, Alba, MI, Benzonia, MI, Frankfort, MI, and Bear Lake, MI. Lenders must have made at least 30 loans in the area to be included. Source for the data comes from Federal Financial Institutions Examination Council (FFIEC). Rate Difference (the average difference of interest rates relative to those of other lenders) were computed by subtracting the rate at origination from the average predicted rate based on the MSA, borrower LTV, DTI, Loan Amount, Loan Type, and Loan Purpose, and then regularized based on a Bayesian approach to account for smaller sample sizes. Above-average mortgage closing costs were then added to the rate difference at a rate of +0.15/point. Star ratings were determined in intervals of 0.10% in rate difference per half star.

Mortgage Lender Rankings for Other Cities

This page ranks the top mortgage lenders in the Traverse City, MI area. For mortgage lender rankings of other cities, click here.