NexBank in Michigan vs the state
7.6%Denial rate-10.91 pts vs state
8.1%Decision denial rate-14.44 pts vs state
81.5%Origination rate+21.63 pts vs state
6.88%Median rate+0.13 pts vs state
0.37Rate spread (pts)-0.03 pts vs state
$136kMedian applicant income
75Loans originated
7Denied
Trend in Michigan
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 85 | 67 | 10.6% | 7.00% | #281 |
| 2024 | 146 | 111 | 6.9% | 6.88% | #228 |
| 2025 | 92 | 75 | 7.6% | 6.88% | #283 |
What NexBank lends in Michigan
By loan purpose
By loan type
Why it denied Michigan applicants
Where in Michigan
Counties with the most NexBank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Oakland County | 34 | 30 | 3 | 8.8% |
| Wayne County | 13 | 12 | 0 | 0.0% |
| Genesee County | 5 | 2 | 1 | 20.0% |
| Ingham County | 4 | 2 | 0 | 0.0% |
| Kalamazoo County | 4 | 3 | 0 | 0.0% |
| Macomb County | 4 | 3 | 1 | 25.0% |
| Grand Traverse County | 3 | 3 | 0 | 0.0% |
| Washtenaw County | 3 | 3 | 0 | 0.0% |
| Lapeer County | 2 | 2 | 0 | 0.0% |
| Jackson County | 2 | 1 | 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: 92 applications in 2025, of which 75 were originated and 7 denied.
7.6% of all applications, or 8.1% of the applications it actually decided on. The Michigan statewide average across all lenders was 18.5%.
The median rate on loans NexBank originated in Michigan in 2025 was 6.88%, against a statewide median of 6.75%.
About this data. Figures are NexBank'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