Spring Eq in Michigan vs the state
54.5%Denial rate+35.93 pts vs state
64.6%Decision denial rate+41.97 pts vs state
28.4%Origination rate-31.45 pts vs state
9.36%Median rate+2.61 pts vs state
3.50Rate spread (pts)+3.11 pts vs state
$101kMedian applicant income
680Loans originated
1,302Denied
Trend in Michigan
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 1,491 | 341 | 61.9% | 11.50% | #47 |
| 2024 | 2,063 | 583 | 56.0% | 10.08% | #43 |
| 2025 | 2,391 | 680 | 54.5% | 9.36% | #44 |
What Spring Eq lends in Michigan
By loan purpose
By loan type
Why it denied Michigan applicants
Where in Michigan
Counties with the most Spring Eq applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Oakland County | 431 | 125 | 236 | 54.8% |
| Wayne County | 349 | 87 | 191 | 54.7% |
| Macomb County | 259 | 72 | 151 | 58.3% |
| Kent County | 156 | 45 | 81 | 51.9% |
| Genesee County | 88 | 22 | 50 | 56.8% |
| Livingston County | 84 | 31 | 33 | 39.3% |
| Ottawa County | 80 | 28 | 41 | 51.3% |
| Washtenaw County | 77 | 26 | 36 | 46.8% |
| Ingham County | 46 | 17 | 22 | 47.8% |
| Muskegon County | 45 | 18 | 20 | 44.4% |
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: 2,391 applications in 2025, of which 680 were originated and 1,302 denied.
54.5% of all applications, or 64.6% of the applications it actually decided on. The Michigan statewide average across all lenders was 18.5%.
The median rate on loans Spring Eq originated in Michigan in 2025 was 9.36%, against a statewide median of 6.75%.
About this data. Figures are Spring Eq'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