Let’s check out the top mortgage lenders in Michigan based on the most recent year’s loan volume.
The state of Michigan is an interesting one because it’s home to two of the top three mortgage lenders in the country.
The lenders in question are none other than Rocket Mortgage, and wholesaler United Wholesale Mortgage (UWM).
Seeing that they dominate the entire nation, you’d expect them to rule their home state as well.
Read on to see if that’s the case, or if some other hometown (or non-hometown) companies gave them a run for their money.
Top Mortgage Lenders in Michigan (Overall)
| Ranking | Company Name | 2024 Loan Volume |
| 1. | UWM | $4.5 billion |
| 2. | Rocket Mortgage | $3.7 billion |
| 3. | Lake Michigan CU | $2.4 billion |
| 4. | Huntington Bank | $1.3 billion |
| 5. | Mortgage 1 Inc. | $745 million |
| 6. | Union Home | $715 million |
| 7. | Flagstar Bank | $700 million |
| 8. | Chase | $651 million |
| 9. | The Dart Bank | $624 million |
| 10. | Fifth Third Bank | $555 million |
Suspense aside, United Wholesale Mortgage did indeed beat out the rest of the competition in their home state last year, including second placed Rocket Mortgage.
They would have seemed unlikely not to given their #1 ranking nationwide. Still, you never know.
The Pontiac-based mortgage behemoth funded a whopping $4.5 billion in home loans in Michigan in 2024, per HMDA data from Richey May.
That was more than enough to trounce their cross-town rival Rocket Mortgage, which happens to be located in Detroit.
UWM pulled it off despite working solely with mortgage brokers, while Rocket operates via both the retail and wholesale channels.
Another local company, Lake Michigan Credit Union, came in third with $2.4 billion. I don’t know if another state in the country has had all of the top three spots held by local lenders.
The Huntington Bank, in nearby Columbus, OH, ranked fourth with $1.3 billion, followed by Mortgage 1 Inc. (also located in Michigan).
The rest of the top 10 consisted of Union Home Mortgage, Flagstar Bank (also Michigan-based), Chase, The Dart Bank (also Michigan!), and Fifth Third Bank.
Seeing this list, it’s safe to say that Michigan homeowners like to stay local when it comes to their home loan.
Top Michigan Mortgage Lenders (for Home Buyers)
| Ranking | Company Name | 2024 Loan Volume |
| 1. | UWM | $3.2 billion |
| 2. | Lake Michigan CU | $2.1 billion |
| 3. | Rocket Mortgage | $2.1 billion |
| 4. | Huntington Bank | $732 million |
| 5. | Mortgage 1 Inc. | $664 million |
| 6. | Flagstar Bank | $593 million |
| 7. | Union Home | $588 million |
| 8. | The Dart Bank | $575 million |
| 9. | Staunton Financial | $490 million |
| 10. | Chase | $473 million |
When we single out home purchase loans, UWM again takes the top spot with $3.2 billion funded, easily beating out Rocket Mortgage’s $2.1 billion.
That is certainly a feat for the wholesale lender in its home state, and a testament to the strength of mortgage brokers partnering with home buyers.
In third was Lake Michigan CU with $2.1 billion, followed by Huntington Bank and Mortgage 1.
Others making the top 10 included Flagstar Bank, Union Home Mortgage, The Dart Bank, Staunton Financial (a dba of Total Mortgage), and Chase.
Once again, many of top 10 are Michigan-based mortgage companies, which is notable as well.
Top Refinance Lenders in Michigan (for Existing Homeowners)
| Ranking | Company Name | 2024 Loan Volume |
| 1. | Rocket Mortgage | $1.5 billion |
| 2. | UWM | $1.3 billion |
| 3. | Huntington Bank | $449 million |
| 4. | Lake Michigan CU | $242 million |
| 5. | Freedom Mortgage | $189 million |
| 6. | Fifth Third Bank | $170 million |
| 7. | Chase | $143 million |
| 8. | Union Home | $126 million |
| 9. | Pennymac | $123 million |
| 10. | Newrez | $118 million |
Now if we filter out the purchase loans and single out existing homeowners, Rocket Mortgage grabs the lead again with $1.5 billion funded.
In case you’re wondering, mortgage refinancing is Rocket’s bread and butter, though they’re also increasing their home buyer business as well.
That was just enough to edge out UWM’s $1.3 billion, and well above Huntington Bank’s $449 million.
Once again, Lake Michigan CU made the list, as did VA loan refinance specialist Freedom Mortgage.
The rest of the list consisted of newcomers and repeats, including Fifth Third Bank, Chase, Union Home Mortgage, Pennymac, and Newrez.
Top Mortgage Lenders in Detroit
| Ranking | Company Name | 2024 Loan Volume |
| 1. | UWM | $910 million |
| 2. | Rocket Mortgage | $757 million |
| 3. | Huntington Bank | $145 million |
| 4. | Flagstar Bank | $125 million |
| 5. | Lake Michigan CU | $102 million |
| 6. | Chase | $98 million |
| 7. | Staunton Financial | $94 million |
| 8. | DFCU | $92 million |
| 9. | CrossCountry | $89 million |
| 10. | Mortgage 1 Inc. | $84 million |
Who Are Michigan’s Best Mortgage Lenders?
If we’re talking the best mortgage lenders in Michigan, the list might look a little different.
After all, we have to consider customer reviews and ratings as opposed to total loan volume.
On Zillow, Rocket Mortgage has a 4.48-star rating and Flagstar Bank has a 4.97-star rating.
Then there’s Ann Arbor-based Homepoint, which isn’t even in the top 10 but has a 4.89 rating.
Other lenders not listed include Northpointe Bank and its 4.94 rating, MiMutual Mortgage’s 4.96 rating, and VanDyk Mortgage’s 4.97 rating.
Lastly, because UWM is such a big player in the state, there could be scores of highly-rated, individual mortgage brokers in the state as well, which work on behalf of the company.
Long story short, take a look at both lenders big and small, local and non-local, and of all types to find the best fit for your situation.
There are probably more than a thousand different options to choose from in the state of Michigan.
(photo: PunkToad)
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