Michigan Schools and Government at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the C grade breaks down
Each component is a percentile rank among 581 mid-size mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
36th14.7% deniedPricingmedian rate spread over APOR, weight 30%
30th0.38 ptsProcesswithdrawn + incomplete share, weight 15%
44th18.2%Closing coststotal loan costs ÷ loan amount, weight 10%
79th1.53% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 3,771 | 2,276 | 20.4% | 24.7% | 6.25% | $313M |
| 2024 | 4,365 | 2,966 | 12.9% | 15.7% | 6.99% | $490M |
| 2025 | 4,239 | 2,908 | 12.0% | 14.7% | 7.20% | $530M |
What Michigan Schools and Government lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 1,305 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 107 investment properties.
Why Michigan Schools and Government denies applications
Primary reason reported for each of the 509 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Michigan Schools and Government
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 421 | 186 | 38.9% |
| $50k – $100k | 1,460 | 986 | 17.0% |
| $100k – $150k | 1,200 | 878 | 10.0% |
| $150k – $250k | 875 | 653 | 8.8% |
| Over $250k | 241 | 176 | 5.8% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 62 | 44 | 6.3% |
| 25–34 | 717 | 495 | 12.7% |
| 35–44 | 1,020 | 729 | 13.8% |
| 45–54 | 1,007 | 703 | 15.4% |
| 55–64 | 796 | 508 | 18.4% |
| 65–74 | 439 | 297 | 15.2% |
| Over 74 | 167 | 108 | 10.4% |
Where Michigan Schools and Government lends
3 states and 71 counties in 2025. Click a state for the lender's full record there.
Frequently asked questions
Michigan Schools and Government denied 14.7% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 36th percentile of mid-size mortgage lenders.
The most common reason Michigan Schools and Government gave in 2025 was "debt-to-income ratio", cited on 52.5% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans Michigan Schools and Government originated in 2025 was 7.20%, and its median rate spread over the average prime offer rate was 0.38 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 25% of its applications were for home purchases, 32% for refinancing (including cash-out), and 43% for home improvement or other purposes. By loan type: 98% conventional, 2% FHA, 0% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.