Independent Bank Mortgage Lending & HMDA Data, 2021

In 2021, Independent Bank of Grand Rapids, MI reported 9,809 mortgage applications totaling $2.4 billion, down 7% from 2020. The average application was for $247,044, and applicants reported an average income of $133,524. 75% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Grand Rapids-Wyoming, MI (2,186), Warren-Troy-Farmington Hills, MI (1,681) and Detroit-Dearborn-Livonia, MI (673) (applications in parentheses).

Mortgage Company & Address Independent Bank
4200 East Beltline
Grand Rapids, MI 49525
Tel #: available with data download
Federal Regulator * available with data download
Years 2025  2024  2023  2022  2021  2020  2019  2018  2017  2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  
Total Number of Mortgage Applications 9,809
Total Mortgage Loan Application Amount $2,423,255,000
Average Mortgage Loan Application Amount $247,044
Highest Mortgage Loan Application Amount $2,805,000
Average Applicant Income $133,524
Highest Applicant Income $2,493,000

About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Independent Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.

Mortgage Loan Application Totals for Independent Bank by County in 2021

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loans Applications Average Mortgage Loan Application Amount Average Applicant Income
Kent, Michigan 1,430 $ 345,400,000 $ 241,538 $ 123,000
Oakland, Michigan 870 $ 352,190,000 $ 404,816 $ 201,000
Wayne, Michigan 673 $ 172,795,000 $ 256,753 $ 132,000
Grand Traverse, Michigan 451 $ 120,345,000 $ 266,840 $ 140,000
Livingston, Michigan 437 $ 130,245,000 $ 298,043 $ 151,000
Ottawa, Michigan 289 $ 71,595,000 $ 247,733 $ 128,000
Bay, Michigan 288 $ 32,870,000 $ 114,131 $ 78,000
Washtenaw, Michigan 281 $ 84,805,000 $ 301,797 $ 176,000
Macomb, Michigan 280 $ 67,400,000 $ 240,714 $ 114,000
Saginaw, Michigan 278 $ 44,240,000 $ 159,136 $ 89,000
Ingham, Michigan 274 $ 47,110,000 $ 171,934 $ 96,000
Ionia, Michigan 266 $ 39,620,000 $ 148,947 $ 81,000
Newaygo, Michigan 241 $ 33,515,000 $ 139,066 $ 72,000
Eaton, Michigan 223 $ 32,895,000 $ 147,511 $ 76,000
Muskegon, Michigan 214 $ 34,070,000 $ 159,205 $ 94,000
Montcalm, Michigan 201 $ 30,645,000 $ 152,462 $ 80,000
Summit, Ohio 183 $ 53,215,000 $ 290,792 $ 170,000
Leelanau, Michigan 144 $ 42,580,000 $ 295,694 $ 163,000
Genesee, Michigan 136 $ 33,030,000 $ 242,867 $ 145,000
Franklin, Ohio 113 $ 52,695,000 $ 466,327 $ 251,000
Berrien, Michigan 111 $ 35,245,000 $ 317,522 $ 187,000
Tuscola, Michigan 107 $ 12,415,000 $ 116,028 $ 76,000
Kalamazoo, Michigan 102 $ 24,380,000 $ 239,019 $ 147,000
Allegan, Michigan 98 $ 27,780,000 $ 283,469 $ 175,000
Mecosta, Michigan 94 $ 11,580,000 $ 123,191 $ 80,000
Antrim, Michigan 86 $ 26,730,000 $ 310,813 $ 172,000
Huron, Michigan 86 $ 8,400,000 $ 97,674 $ 69,000
Jackson, Michigan 82 $ 13,790,000 $ 168,170 $ 86,000
Delaware, Ohio 80 $ 44,400,000 $ 555,000 $ 241,000
Barry, Michigan 79 $ 15,235,000 $ 192,848 $ 114,000
Midland, Michigan 77 $ 11,895,000 $ 154,480 $ 98,000
Clinton, Michigan 75 $ 14,545,000 $ 193,933 $ 135,000
Lapeer, Michigan 69 $ 12,445,000 $ 180,362 $ 93,000
Wexford, Michigan 66 $ 10,990,000 $ 166,515 $ 102,000
Benzie, Michigan 62 $ 14,220,000 $ 229,354 $ 136,000
Charlevoix, Michigan 62 $ 28,140,000 $ 453,870 $ 317,000
Shiawassee, Michigan 62 $ 9,240,000 $ 149,032 $ 76,000
Medina, Ohio 57 $ 25,495,000 $ 447,280 $ 203,000
Isabella, Michigan 54 $ 7,530,000 $ 139,444 $ 74,000
Kalkaska, Michigan 46 $ 8,020,000 $ 174,347 $ 86,000
Calhoun, Michigan 44 $ 7,520,000 $ 170,909 $ 73,000
Cuyahoga, Ohio 44 $ 13,990,000 $ 317,954 $ 180,000
Van Buren, Michigan 42 $ 11,310,000 $ 269,285 $ 148,000
Missaukee, Michigan 36 $ 7,250,000 $ 201,388 $ 118,000
Arenac, Michigan 35 $ 4,465,000 $ 127,571 $ 92,000
Oceana, Michigan 33 $ 5,785,000 $ 175,303 $ 108,000
Manistee, Michigan 29 $ 5,805,000 $ 200,172 $ 157,000
Sanilac, Michigan 27 $ 3,285,000 $ 121,666 $ 72,000
Union, Ohio 27 $ 12,565,000 $ 465,370 $ 208,000
Osceola, Michigan 26 $ 3,070,000 $ 118,076 $ 60,000
Portage, Ohio 26 $ 7,260,000 $ 279,230 $ 149,000
Gladwin, Michigan 25 $ 3,905,000 $ 156,200 $ 101,000
St. Clair, Michigan 25 $ 6,145,000 $ 245,800 $ 115,000
Stark, Ohio 25 $ 11,355,000 $ 454,200 $ 188,000
Otsego, Michigan 24 $ 3,250,000 $ 135,416 $ 76,000
Gratiot, Michigan 22 $ 3,090,000 $ 140,454 $ 99,000
Clare, Michigan 21 $ 2,195,000 $ 104,523 $ 62,000
Mason, Michigan 20 $ 4,060,000 $ 203,000 $ 112,000
Fairfield, Ohio 20 $ 7,560,000 $ 378,000 $ 212,000
Lee, Florida 18 $ 4,610,000 $ 256,111 $ 281,000
Iosco, Michigan 18 $ 2,140,000 $ 118,888 $ 97,000
Roscommon, Michigan 18 $ 2,500,000 $ 138,888 $ 108,000
Emmet, Michigan 17 $ 6,515,000 $ 383,235 $ 196,000
Cass, Michigan 16 $ 4,470,000 $ 279,375 $ 123,000
Lake, Michigan 16 $ 1,800,000 $ 112,500 $ 69,000
Licking, Ohio 16 $ 9,110,000 $ 569,375 $ 220,000
Monroe, Michigan 15 $ 3,145,000 $ 209,666 $ 83,000
LaPorte, Indiana 12 $ 4,220,000 $ 351,666 $ 352,000
Wayne, Ohio 12 $ 3,800,000 $ 316,666 $ 166,000
Lenawee, Michigan 11 $ 2,085,000 $ 189,545 $ 97,000
Geauga, Ohio 11 $ 2,185,000 $ 198,636 $ 179,000
Collier, Florida 10 $ 4,810,000 $ 481,000 $ 444,000
Sarasota, Florida 10 $ 2,580,000 $ 258,000 $ 175,000
Charlotte, Florida 9 $ 2,865,000 $ 318,333 $ 236,000
Ogemaw, Michigan 9 $ 955,000 $ 106,111 $ 84,000
Cook, Illinois 8 $ 3,680,000 $ 460,000 $ 362,000
Pasco, Florida 7 $ 1,835,000 $ 262,142 $ 97,000
Mackinac, Michigan 7 $ 1,585,000 $ 226,428 $ 226,000
Lucas, Ohio 7 $ 1,915,000 $ 273,571 $ 224,000
Alpena, Michigan 6 $ 710,000 $ 118,333 $ 84,000
Cheboygan, Michigan 6 $ 1,250,000 $ 208,333 $ 152,000
Crawford, Michigan 6 $ 930,000 $ 155,000 $ 121,000
Hamilton, Ohio 6 $ 2,260,000 $ 376,666 $ 210,000
Manatee, Florida 5 $ 1,875,000 $ 375,000 $ 282,000
Will, Illinois 5 $ 1,015,000 $ 203,000 $ 84,000
Alger, Michigan 5 $ 615,000 $ 123,000 $ 74,000
Montmorency, Michigan 5 $ 595,000 $ 119,000 $ 91,000
St. Joseph, Michigan 5 $ 1,145,000 $ 229,000 $ 76,000
Lake, Ohio 5 $ 1,145,000 $ 229,000 $ 106,000
Broward, Florida 4 $ 1,810,000 $ 452,500 $ 251,000
Sumter, Florida 4 $ 840,000 $ 210,000 $ 125,000
St. Joseph, Indiana 4 $ 720,000 $ 180,000 $ 76,000
Alcona, Michigan 4 $ 820,000 $ 205,000 $ 136,000
Oscoda, Michigan 4 $ 640,000 $ 160,000 $ 71,000
Lorain, Ohio 4 $ 1,460,000 $ 365,000 $ 151,000
Porter, Indiana 3 $ 765,000 $ 255,000 $ 100,000
Branch, Michigan 3 $ 525,000 $ 175,000 $ 131,000
Chippewa, Michigan 3 $ 295,000 $ 98,333 $ 145,000
Hillsdale, Michigan 3 $ 645,000 $ 215,000 $ 98,000
Luce, Michigan 3 $ 485,000 $ 161,666 $ 156,000
Marquette, Michigan 3 $ 535,000 $ 178,333 $ 123,000
Presque Isle, Michigan 3 $ 215,000 $ 71,666 $ 39,000
Perry, Ohio 3 $ 1,515,000 $ 505,000 $ 220,000
Tuscarawas, Ohio 3 $ 1,115,000 $ 371,666 $ 139,000
Flagler, Florida 2 $ 540,000 $ 270,000 $ 93,000
Hillsborough, Florida 2 $ 640,000 $ 320,000 $ 146,000
Lake, Florida 2 $ 630,000 $ 315,000 $ 204,000
Miami-Dade, Florida 2 $ 1,090,000 $ 545,000 $ 451,000
Orange, Florida 2 $ 890,000 $ 445,000 $ 142,000
Pinellas, Florida 2 $ 400,000 $ 200,000 $ 93,000
Seminole, Florida 2 $ 660,000 $ 330,000 $ 94,000
Wakulla, Florida 2 $ 810,000 $ 405,000 $ 209,000
Lake, Illinois 2 $ 780,000 $ 390,000 $ 106,000
Boone, Indiana 2 $ 740,000 $ 370,000 $ 215,000
Brown, Indiana 2 $ 490,000 $ 245,000 $ 370,000
Lake, Indiana 2 $ 520,000 $ 260,000 $ 69,000
Dickinson, Michigan 2 $ 240,000 $ 120,000 $ 18,000
Mecklenburg, North Carolina 2 $ 770,000 $ 385,000 $ 103,000
Marion, Ohio 2 $ 230,000 $ 115,000 $ 95,000
Noble, Ohio 2 $ 380,000 $ 190,000 $ 105,000
Pickaway, Ohio 2 $ 850,000 $ 425,000 $ 159,000
Brevard, Florida 1 $ 145,000 $ 145,000 $ 49,000
Highlands, Florida 1 $ 85,000 $ 85,000 $ 66,000
Martin, Florida 1 $ 545,000 $ 545,000 $ 387,000
Okaloosa, Florida 1 $ 365,000 $ 365,000 $ 217,000
Osceola, Florida 1 $ 195,000 $ 195,000 $ 114,000
Palm Beach, Florida 1 $ 335,000 $ 335,000 $ 211,000
St. Lucie, Florida 1 $ 135,000 $ 135,000 $ 80,000
Volusia, Florida 1 $ 275,000 $ 275,000 $ 195,000
Walton, Florida 1 $ 65,000 $ 65,000 $ 131,000
DuPage, Illinois 1 $ 205,000 $ 205,000 $ 104,000
McLean, Illinois 1 $ 295,000 $ 295,000 $ 153,000
Allen, Indiana 1 $ 265,000 $ 265,000 $ 130,000
Carroll, Indiana 1 $ 295,000 $ 295,000 $ 370,000
Hamilton, Indiana 1 $ 415,000 $ 415,000 $ 352,000
Hendricks, Indiana 1 $ 385,000 $ 385,000 $ 212,000
Marion, Indiana 1 $ 115,000 $ 115,000 $ 66,000
Warrick, Indiana 1 $ 225,000 $ 225,000 $ 120,000
Gogebic, Michigan 1 $ 95,000 $ 95,000 $ 176,000
Houghton, Michigan 1 $ 155,000 $ 155,000 $ 287,000
Menominee, Michigan 1 $ 265,000 $ 265,000 $ 110,000
Schoolcraft, Michigan 1 $ 75,000 $ 75,000 $ 117,000
Dare, North Carolina 1 $ 395,000 $ 395,000 $ 290,000
Haywood, North Carolina 1 $ 295,000 $ 295,000 $ 233,000
Onslow, North Carolina 1 $ 785,000 $ 785,000 $ 1,560,000
Union, North Carolina 1 $ 485,000 $ 485,000 $ 246,000
Allen, Ohio 1 $ 285,000 $ 285,000 $ 115,000
Ashtabula, Ohio 1 $ 385,000 $ 385,000 $ 153,000
Athens, Ohio 1 $ 145,000 $ 145,000 $ 470,000
Butler, Ohio 1 $ 405,000 $ 405,000 $ 245,000
Champaign, Ohio 1 $ 305,000 $ 305,000 $ 91,000
Clark, Ohio 1 $ 405,000 $ 405,000 $ 261,000
Fayette, Ohio 1 $ 335,000 $ 335,000 $ 121,000
Fulton, Ohio 1 $ 125,000 $ 125,000 $ 71,000
Greene, Ohio 1 $ 125,000 $ 125,000 $ 60,000
Guernsey, Ohio 1 $ 105,000 $ 105,000 $ 92,000
Hocking, Ohio 1 $ 1,085,000 $ 1,085,000 $ 308,000
Knox, Ohio 1 $ 1,555,000 $ 1,555,000 $ 323,000
Madison, Ohio 1 $ 375,000 $ 375,000 $ 115,000
Mahoning, Ohio 1 $ 95,000 $ 95,000 $ 137,000
Miami, Ohio 1 $ 45,000 $ 45,000 $ 23,000
Monroe, Ohio 1 $ 235,000 $ 235,000 $ 77,000
Morrow, Ohio 1 $ 255,000 $ 255,000 $ 88,000
Ross, Ohio 1 $ 735,000 $ 735,000 $ 240,000
Williams, Ohio 1 $ 325,000 $ 325,000 $ 450,000
Wood, Ohio 1 $ 45,000 $ 45,000 $ 285,000

Mortgage Loan Application Detail Totals for Independent Bank in 2021

Loan Purpose

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Home Purchase 4,140 $1,259,730,000 $304,000 $2,805,000 $150,000 $2,176,000
Refinancing 2,914 $664,250,000 $227,000 $2,505,000 $125,000 $2,493,000
Cash-out Refinancing 1,805 $392,185,000 $217,000 $2,205,000 $112,000 $2,350,000
Home Improvement 483 $55,225,000 $114,000 $2,145,000 $132,000 $1,137,000
Other Purpose 443 $48,845,000 $110,000 $1,645,000 $125,000 $1,405,000
Not Applicable 24 $3,020,000 $125,000 $375,000 $0 $0

Applicant Race

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
White 8,310 $2,021,550,000 $243,000 $2,625,000 $131,000 $2,493,000
Not Provided 641 $171,195,000 $267,000 $2,725,000 $156,000 $1,405,000
Black or African American 233 $52,275,000 $224,000 $1,675,000 $124,000 $1,906,000
Hispanic 214 $50,270,000 $234,000 $1,805,000 $124,000 $1,162,000
Not applicable 183 $37,645,000 $205,000 $945,000 $0 $0
Asian 145 $62,235,000 $429,000 $2,805,000 $189,000 $1,832,000
American Indian or Alaskan Native 36 $7,930,000 $220,000 $1,295,000 $99,000 $313,000
Native Hawaiian or Other Pacific Islander 1 $135,000 $135,000 $135,000 $65,000 $65,000

Loan Type

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Conventional (any loan other than FHA, VA, FSA, or RHS loans) 9,338 $2,340,380,000 $250,000 $2,805,000 $136,000 $2,493,000
FHA-insured (Federal Housing Administration) 333 $53,295,000 $160,000 $365,000 $60,000 $302,000
VA-guaranteed (Veterans Administration) 94 $23,090,000 $245,000 $755,000 $87,000 $339,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 44 $6,490,000 $147,000 $335,000 $50,000 $81,000

Outcome

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Loan Originated 7,384 $1,877,370,000 $254,000 $2,805,000 $136,000 $2,176,000
Application Withdrawn By Applicant 1,280 $305,070,000 $238,000 $2,405,000 $136,000 $2,493,000
Application Denied By Financial Institution 642 $111,050,000 $172,000 $1,805,000 $86,000 $1,162,000
File Closed For Incompleteness 290 $84,790,000 $292,000 $2,005,000 $146,000 $1,237,000
Loan Purchased By The Institution 161 $31,625,000 $196,000 $535,000 $0 $0
Application Approved But Not Accepted 52 $13,350,000 $256,000 $2,725,000 $131,000 $579,000
Preapproval Approved but not Accepted 0 $0 $0 $0 $0 $0
Preapproval Denied by Financial Institution 0 $0 $0 $0 $0 $0

Denial Reason

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Not applicable 9,167 $2,312,205,000 $252,000 $2,805,000 $137,000 $2,493,000
Debt-To-Income Ratio 268 $50,070,000 $186,000 $1,235,000 $55,000 $257,000
Credit History 259 $35,785,000 $138,000 $1,395,000 $93,000 $821,000
Collateral 70 $13,410,000 $191,000 $995,000 $148,000 $431,000
Other 22 $7,170,000 $325,000 $1,805,000 $190,000 $1,162,000
Insufficient Cash (Downpayment, Closing Cost) 10 $2,840,000 $284,000 $685,000 $135,000 $611,000
Employment History 9 $1,195,000 $132,000 $235,000 $27,000 $57,000
Mortgage Insurance Denied 3 $395,000 $131,000 $245,000 $165,000 $221,000
Unverifiable Information 1 $185,000 $185,000 $185,000 $43,000 $43,000
Credit Application Incomplete 0 $0 $0 $0 $0 $0

Our comprehensive HMDA mortgage statistics provide invaluable insights into Independent Bank's 2021 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.

This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics, and assess Independent Bank's mortgage approval patterns. Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
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