BMO Bank in Michigan vs the state
37.5%Denial rate+18.98 pts vs state
43.9%Decision denial rate+21.32 pts vs state
45.8%Origination rate-14.06 pts vs state
7.50%Median rate+0.75 pts vs state
0.71Rate spread (pts)+0.31 pts vs state
$185kMedian applicant income
22Loans originated
18Denied
Trend in Michigan
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 112 | 51 | 29.5% | 7.13% | #255 |
| 2024 | 136 | 55 | 31.6% | 7.38% | #236 |
| 2025 | 48 | 22 | 37.5% | 7.50% | #355 |
What BMO Bank lends in Michigan
By loan purpose
By loan type
Why it denied Michigan applicants
Where in Michigan
Counties with the most BMO Bank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Oakland County | 10 | 5 | 5 | 50.0% |
| Berrien County | 5 | 3 | 0 | 0.0% |
| Menominee County | 3 | 2 | 0 | 0.0% |
| Wayne County | 3 | 0 | 3 | 100.0% |
| Gogebic County | 2 | 2 | 0 | 0.0% |
| Iron County | 2 | 0 | 0 | 0.0% |
| Dickinson County | 2 | 1 | 1 | 50.0% |
| Cass County | 2 | 0 | 2 | 100.0% |
| Kent County | 2 | 0 | 1 | 50.0% |
| Mackinac County | 1 | 0 | 0 | 0.0% |
Other large lenders in Michigan
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Rocket Mortgage | C | 30,644 | 16.3% | 6.75% |
| United Shore Financial Services | B | 29,330 | 11.7% | 6.60% |
| The Huntington National Bank | D | 20,047 | 30.0% | 7.49% |
| Lake Michigan Credit Union | A | 16,662 | 5.6% | 6.75% |
| Fifth Third Bank | D | 11,176 | 26.4% | 7.50% |
| 21st Mortgage | F | 7,424 | 53.4% | 11.04% |
| Citizens Bank | C | 6,592 | 29.0% | 7.65% |
| Triad Financial Services | D | 6,426 | 56.1% | 8.49% |
| Union Home Mortgage | B | 5,303 | 4.3% | 6.75% |
| PNC Bank | D | 5,161 | 26.3% | 7.36% |
Frequently asked questions
Michigan: 48 applications in 2025, of which 22 were originated and 18 denied.
37.5% of all applications, or 43.9% of the applications it actually decided on. The Michigan statewide average across all lenders was 18.5%.
The median rate on loans BMO Bank originated in Michigan in 2025 was 7.50%, against a statewide median of 6.75%.
About this data. Figures are BMO Bank's own HMDA filing for properties located in Michigan, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology