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cash-out refinance lenders · HMDA 2023–2025

Cash-out refinance lenders in Michigan

Fat Boy Data analyzed cash-out refinance activity in Michigan to show which lenders are making these loans, how often they approve, how often borrowers accept the offer, and how much they typically finance. 90,222 applications were decided by 540 lenders between 2023 and 2025.

Michigan at a glance

540Active lenders218 with 20+ decisions
71.5%Market approval rate64,518 of 90,222 decided
$125KTypical loanmedian lender, $10K brackets
95%Borrower take-up61,428 loans funded

How Michigan compares

Approval rate compared
Michigan71.5%All 616 counties68.2%
Typical loan compared
Michigan$125KAll 616 counties$155K

What the data shows

Rocket Mortgage, LLC made the most cash-out refinances in Michigan, 18,497 of them.

That is 30% of every cash-out refinance originated here, so this market is unusually concentrated in one lender.

Marshall Community Credit Union approved the highest share of applications among lenders with at least 20 decisions here, 99% of 399.

The typical cash-out refinance here is $125K, 19% smaller than the the United States typical of $155K.

Approval rate of all 60 lenders with 20+ decisions here
0%25%50%75%100%Hfg Holdings, LLC: 1% approved of 284Mortgage Research Center, LLC: 18% approved of 840Amerisave Mortgage Corporation: 25% approved of 4,209Lakeview Loan Servicing, LLC: 35% approved of 743Spring Eq, LLC: 37% approved of 321New Day Financial, LLC: 37% approved of 1,070American Financing Corporation: 39% approved of 454Diversified Members: 43% approved of 353Carrington Mortgage Services, LLC: 46% approved of 2,065New American Funding, LLC: 47% approved of 696Village Capital & Investment LLC: 51% approved of 489Mutual of Omaha Mortgage, Inc.: 52% approved of 528Newrez LLC: 52% approved of 2,550Navy Federal Credit Union: 56% approved of 374Wells Fargo Bank, National Association: 58% approved of 415Michigan First Credit Union: 59% approved of 825Loandepot.Com, LLC: 62% approved of 1,890Lake Trust Credit Union: 63% approved of 252Plaza Home Mortgage, Inc.: 64% approved of 293Freedom Mortgage Corporation: 67% approved of 1,400Pennymac Loan Services, LLC: 69% approved of 872Honor Credit Union: 69% approved of 479Comerica Bank: 70% approved of 273Onity Mortgage Corporation: 71% approved of 221MICHIGAN STATE UNIVERSITY Federal Credit Union: 71% approved of 597Citizens Bank, National Association: 71% approved of 328Guaranteed Rate, Inc.: 71% approved of 249Credit Union One: 72% approved of 1,627Flagstar Bank, National Association: 73% approved of 1,803GoodLeap, LLC: 73% approved of 473Fifth Third Bank, National Association: 74% approved of 898Michigan Schools and Government: 74% approved of 888Financial Plus Credit Union: 76% approved of 241Independent Bank: 77% approved of 227Top Flite Financial, Inc.: 77% approved of 224United Wholesale Mortgage, LLC: 77% approved of 7,485Equity Prime Mortgage LLC: 78% approved of 252The Huntington National Bank: 78% approved of 5,504ChoiceOne Bank: 79% approved of 212Nationstar Mortgage LLC: 80% approved of 1,774JPMorgan Chase Bank, National Association: 80% approved of 1,183Community Choice: 81% approved of 518Elga Credit Union: 81% approved of 299Rocket Mortgage, LLC: 81% approved of 23,488ORSA credit union: 81% approved of 616Dort Financial Credit Union: 84% approved of 276Genisys Credit Union: 84% approved of 470Lake Michigan Credit Union: 89% approved of 658Crosscountry Mortgage, LLC: 90% approved of 368Vibe Credit Union: 90% approved of 1,558Michigan Mutual, Inc.: 90% approved of 284Arbor Financial Credit Union: 91% approved of 211Towne Mortgage Company: 92% approved of 227Consumers Credit Union: 92% approved of 216Mortgage 1 Incorporated: 92% approved of 538Dfcu Financial: 93% approved of 436Union Home Mortgage Corp.: 93% approved of 382Mortgage Center L.C.: 95% approved of 570Coastal Community Bank: 98% approved of 254Marshall Community Credit Union: 99% approved of 399

Each dot is one lender, placed at its approval rate. Hover for the name and sample size.

Cash-out refinance lenders in Michigan

LenderApprovalApprovedTaken upTypical loanLoans made
1Rocket Mortgage, LLC81%19,031 / 23,48897%$125K18,497
2United Wholesale Mortgage, LLCBroker only77%5,787 / 7,48597%$175K5,612
3The Huntington National Bank78%4,315 / 5,50496%$125K4,131
4Amerisave Mortgage Corporation25%1,039 / 4,20998%$85K1,021
5Newrez LLC52%1,335 / 2,55099%$105K1,320

Ranked by lending volume. Approval is the share of decided applications a lender approved; taken up is the share of approvals the borrower accepted. Lenders with fewer than 20 decisions are marked as a limited sample and are never used for a “highest approval” claim. How these numbers are built.

Fat Boy found 535 more lenders.

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Other lending data for Michigan

Mortgage lenders in MichiganHome improvement loans in MichiganRefinance in MichiganInvestment property purchase in MichiganInvestment cash-out refinance in MichiganInvestment refinance in MichiganInvestment home improvement in Michigan

Counties in Michigan

Wayne CountyCountyOakland CountyCountyMacomb CountyCountyKent CountyCountyGenesee CountyCountyWashtenaw CountyCountyOttawa CountyCountyIngham CountyCountyKalamazoo CountyCountyLivingston CountyCountySaginaw CountyCountyMuskegon CountyCounty