Independent Bank in Michigan vs the state
15.0%Denial rate-3.52 pts vs state
18.0%Decision denial rate-4.59 pts vs state
67.6%Origination rate+7.68 pts vs state
6.88%Median rate+0.13 pts vs state
0.24Rate spread (pts)-0.16 pts vs state
$101kMedian applicant income
2,257Loans originated
501Denied
Trend in Michigan
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 3,510 | 2,322 | 15.3% | 7.13% | #18 |
| 2024 | 3,376 | 2,270 | 16.8% | 7.00% | #23 |
| 2025 | 3,340 | 2,257 | 15.0% | 6.88% | #26 |
What Independent Bank lends in Michigan
By loan purpose
By loan type
Why it denied Michigan applicants
Where in Michigan
Counties with the most Independent Bank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Kent County | 451 | 333 | 60 | 13.3% |
| Wayne County | 326 | 232 | 40 | 12.3% |
| Oakland County | 290 | 198 | 32 | 11.0% |
| Ottawa County | 146 | 108 | 8 | 5.5% |
| Saginaw County | 142 | 92 | 27 | 19.0% |
| Grand Traverse County | 135 | 103 | 15 | 11.1% |
| Ionia County | 130 | 77 | 25 | 19.2% |
| Newaygo County | 126 | 79 | 23 | 18.3% |
| Bay County | 116 | 75 | 25 | 21.6% |
| Montcalm County | 116 | 63 | 24 | 20.7% |
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: 3,340 applications in 2025, of which 2,257 were originated and 501 denied.
15.0% of all applications, or 18.0% of the applications it actually decided on. The Michigan statewide average across all lenders was 18.5%.
The median rate on loans Independent Bank originated in Michigan in 2025 was 6.88%, against a statewide median of 6.75%.
About this data. Figures are Independent 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