RCN Capital in Michigan vs the state
31.5%Denial rate+12.96 pts vs state
31.8%Decision denial rate+9.21 pts vs state
67.6%Origination rate+7.66 pts vs state
7.93%Median rate+1.17 pts vs state
—Rate spread (pts)
—Median applicant income
560Loans originated
261Denied
Trend in Michigan
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 394 | 235 | 17.0% | 8.22% | #127 |
| 2024 | 677 | 466 | 15.7% | 8.35% | #94 |
| 2025 | 829 | 560 | 31.5% | 7.93% | #88 |
What RCN Capital lends in Michigan
By loan purpose
By loan type
Why it denied Michigan applicants
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: 829 applications in 2025, of which 560 were originated and 261 denied.
31.5% of all applications, or 31.8% of the applications it actually decided on. The Michigan statewide average across all lenders was 18.5%.
The median rate on loans RCN Capital originated in Michigan in 2025 was 7.93%, against a statewide median of 6.75%.
About this data. Figures are RCN Capital'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