# LAKE MICHIGAN CREDIT UNION

> **Canonical URL:** https://saferate.com/lenders/lake-michigan-credit-union


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


LAKE MICHIGAN CREDIT UNION is a credit union, headquartered in Caledonia, MI, serving borrowers across 11 states, with 7,167 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 18% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 18% for loan approval success

## Overview

- **Institution Type:** Credit Union
- **LEI (Legal Entity Identifier):** 549300YB1H2FRI6JPM51
- **Headquarters:** Caledonia, MI
- **Geographic Reach:** Multi-Region
- **States Served:** 11
- **State List:** FL, IL, IN, MI, MN, NC, OH, PA, SC, TN, WI
- **Markets (MSAs):** 31
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Exceptional 🤩
- Score: 82/100
- Rating: ●●●●● (5/5)

### Pull Through: Exceptional 🤩
- Score: 82/100
- Rating: ●●●●● (5/5)

### Pricing Details
- **Average Rate Spread:** -0.059%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $1,100
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 7,167
- **Dollar Volume:** $2.8 billion
- **Applications Received:** 8,814
- **Market Share:** 20.00%

## Typical Borrower Profile

- **Average Loan Amount:** $391,835
- **Average Borrower Income:** $176,003
- **Average Property Value:** $514,217

## Safe Rate Awards 🏆

- 💎 **Conventional Diamond Champion** (90%)
- 💎 **Purchase Diamond Champion** (84%)
- ⭐ **FHA Gold Superstar** (70%)
- ⭐ **VA Gold Superstar** (70%)
- ⭐ **Jumbo Gold Superstar** (77%)
- ⭐ **Refinance Gold Superstar** (77%)

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 90/100 | 6,299 | -0.063% | $1,095 | Exceptional 🤩 |
| FHA | 76/100 | 256 | +0.267% | $1,580 | Strong 😀 |
| VA | 74/100 | 90 | -0.533% | $1,355 | Strong 😀 |
| Jumbo | 90/100 | 519 | -0.148% | $638 | Exceptional 🤩 |

### Product Performance by Purpose

**Conventional:**
- Purchase: 5,672 loans, Score: 90/100 (Exceptional)
- Refinance: 627 loans, Score: 83/100 (Exceptional)

**FHA:**
- Purchase: 228 loans, Score: 76/100 (Strong)
- Refinance: 28 loans, Score: 72/100 (Strong)

**VA:**
- Purchase: 84 loans, Score: 74/100 (Strong)

**Jumbo:**
- Purchase: 491 loans, Score: 91/100 (Exceptional)
- Refinance: 28 loans, Score: 81/100 (Exceptional)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 89/100 | 6,478 | $2.6B | -0.061% | Exceptional 🤩 |
| Refinance | 82/100 | 689 | $208M | -0.036% | Exceptional 🤩 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| MI | 6,220 | 5.50% | 100/100 |
| FL | 726 | 0.25% | 72/100 |
| IL | 67 | 0.05% | 53/100 |
| OH | 58 | 0.04% | 50/100 |
| IN | 48 | 0.05% | 50/100 |
| WI | 36 | 0.05% | 49/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Grand Rapids | MI | 2,736 | 100/100 |
| Warren | MI | 1,018 | 88/100 |
| Non |  | 640 | 70/100 |
| Muskegon | MI | 439 | 100/100 |
| Kalamazoo | MI | 313 | 91/100 |
| Detroit | MI | 278 | 77/100 |
| Cape Coral | FL | 271 | 81/100 |
| Traverse City, MI | MI | 221 | 100/100 |
| Ann Arbor, MI | MI | 217 | 97/100 |
| Naples | FL | 151 | 87/100 |
| Saginaw, MI | MI | 97 | 81/100 |
| Punta Gorda, FL | FL | 82 | 74/100 |
| Flint, MI | MI | 78 | 69/100 |
| Lansing | MI | 71 | 65/100 |
| Tampa, FL | FL | 63 | 57/100 |

## Where This Lender Ranks

LAKE MICHIGAN CREDIT UNION appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🥇 **#1** in Michigan
  - [View Full Rankings](https://saferate.com/michigan/best-mortgage-lenders)
- 🥇 **#1** in Michigan Credit Unions
  - [View Full Rankings](https://saferate.com/michigan/best-mortgage-lenders/credit-unions)
- 🥇 **#1** in Michigan for Conventional Loans
  - [View Full Rankings](https://saferate.com/michigan/best-mortgage-lenders/conventional-loans)
- 🥇 **#1** in Michigan for Conventional Loans (Credit Unions)
  - [View Full Rankings](https://saferate.com/michigan/best-mortgage-lenders/credit-unions/conventional-loans)
- 🥇 **#1** in Michigan for FHA Loans (Credit Unions)
  - [View Full Rankings](https://saferate.com/michigan/best-mortgage-lenders/credit-unions/fha-loans)
- 🥇 **#1** in Michigan for VA Loans (Credit Unions)
  - [View Full Rankings](https://saferate.com/michigan/best-mortgage-lenders/credit-unions/va-loans)
- 🥇 **#1** in Michigan for Jumbo Loans
  - [View Full Rankings](https://saferate.com/michigan/best-mortgage-lenders/jumbo-loans)
- 🥇 **#1** in Michigan for Jumbo Loans (Credit Unions)
  - [View Full Rankings](https://saferate.com/michigan/best-mortgage-lenders/credit-unions/jumbo-loans)
- 🥇 **#1** in Grand Rapids
  - [View Full Rankings](https://saferate.com/grand-rapids/best-mortgage-lenders)
- 🥇 **#1** in Grand Rapids Credit Unions
  - [View Full Rankings](https://saferate.com/grand-rapids/best-mortgage-lenders/credit-unions)
- 🥇 **#1** in Grand Rapids for Conventional Loans
  - [View Full Rankings](https://saferate.com/grand-rapids/best-mortgage-lenders/conventional-loans)
- 🥇 **#1** in Grand Rapids for Conventional Loans (Credit Unions)
  - [View Full Rankings](https://saferate.com/grand-rapids/best-mortgage-lenders/credit-unions/conventional-loans)
- 🥇 **#1** in Grand Rapids for FHA Loans (Credit Unions)
  - [View Full Rankings](https://saferate.com/grand-rapids/best-mortgage-lenders/credit-unions/fha-loans)
- 🥇 **#1** in Grand Rapids for VA Loans (Credit Unions)
  - [View Full Rankings](https://saferate.com/grand-rapids/best-mortgage-lenders/credit-unions/va-loans)
- 🥇 **#1** in Grand Rapids for Jumbo Loans
  - [View Full Rankings](https://saferate.com/grand-rapids/best-mortgage-lenders/jumbo-loans)
- 🥇 **#1** in Grand Rapids for Jumbo Loans (Credit Unions)
  - [View Full Rankings](https://saferate.com/grand-rapids/best-mortgage-lenders/credit-unions/jumbo-loans)
- 🥇 **#1** in Warren
  - [View Full Rankings](https://saferate.com/warren/best-mortgage-lenders)
- 🥇 **#1** in Warren Credit Unions
  - [View Full Rankings](https://saferate.com/warren/best-mortgage-lenders/credit-unions)
- 🥇 **#1** in Warren for Conventional Loans
  - [View Full Rankings](https://saferate.com/warren/best-mortgage-lenders/conventional-loans)
- 🥇 **#1** in Warren for Conventional Loans (Credit Unions)
  - [View Full Rankings](https://saferate.com/warren/best-mortgage-lenders/credit-unions/conventional-loans)

## Frequently Asked Questions

### What loan types does LAKE MICHIGAN CREDIT UNION offer?

LAKE MICHIGAN CREDIT UNION offers the following mortgage loan types: FHA, Conventional, VA, Jumbo. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does LAKE MICHIGAN CREDIT UNION offer mortgages?

LAKE MICHIGAN CREDIT UNION offers mortgages in 11 states: FL, IL, IN, MI, MN, NC, OH, PA, SC, TN, WI.

### How competitive are LAKE MICHIGAN CREDIT UNION's mortgage rates?

LAKE MICHIGAN CREDIT UNION has a pricing score of 82/100 (Exceptional), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.059% below market average.

### What type of lender is LAKE MICHIGAN CREDIT UNION?

LAKE MICHIGAN CREDIT UNION is a member-owned financial cooperative that typically offers competitive rates to its members, headquartered in Caledonia, MI.

### What is LAKE MICHIGAN CREDIT UNION's loan approval success rate?

LAKE MICHIGAN CREDIT UNION has a pull-through score of 82/100 (Exceptional). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/lake-michigan-credit-union

### How to Cite

> "LAKE MICHIGAN CREDIT UNION Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/lake-michigan-credit-union

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