Michigan mortgage lending data
Midwest region · HMDA 2023 reporting year
In Michigan, the 2023 mortgage denial rate was 20.0% — close to the national denial rate (+0.4 points vs the 19.6% national rate), ranking it #15 of 51. Lenders originated about 141,464 home-purchase and refinance loans (rank #10). The home-purchase denial rate was 15.7% and refinance 29.3%. By loan type, conventional loans were 84.9%, FHA 10.9%, VA 3.6% and USDA/RHS 0.6%. Informational data, not lending advice.
Source: HMDA Data Browser (FFIEC / CFPB). Data as of June 2026.
Michigan mortgage lending at a glance
| Indicator | Michigan |
|---|---|
| Total originations (purchase + refinance, 2023) | 141,464 |
| Denied applications | 35,280 |
| Mortgage denial rate | 20.0% |
| Denial-rate rank (1 = highest of 51) | #15 |
| Home-purchase denial rate | 15.7% |
| Refinance denial rate | 29.3% |
| Volume rank (1 = most loans of 51) | #10 |
Source: HMDA Data Browser (FFIEC / CFPB) (2023 reporting year). Data as of June 2026.
Source: HMDA Data Browser (2023), public domain. Denial rate = denied ÷ (originated + denied). Informational only — verify before relying on it.
What the denial rate means
Michigan's mortgage denial rate of 20.0% means that for every 100 applications that were either approved-and-originated or denied, about 20 were turned down. That is about average compared with the national figure of 19.6%. Denial rates are driven by applicant credit scores, debt-to-income ratios, the loan type and local home prices — not only by how strict lenders are. Refinance applications are often denied at a different rate than purchase loans: in Michigan the purchase denial rate was 15.7% versus 29.3% for refinances.
Michigan loan-type mix
How Michigan's 141,464 originations break down by loan program. A higher FHA or VA share usually points to more first-time buyers, lower down payments, or a large veteran population.
| Loan type | Originations | Share |
|---|---|---|
| Conventional | 157,990 | 84.9% |
| FHA | 20,234 | 10.9% |
| VA | 6,783 | 3.6% |
| USDA / RHS | 1,131 | 0.6% |
Source: HMDA Data Browser (FFIEC / CFPB) (2023). Data as of June 2026.
See FHA vs VA vs conventional for what each program is. Shares are over loans with a reported type and may not sum to exactly 100% due to rounding.
States with a similar denial rate to Michigan
| State | Denial rate | Originations | FHA share | VA share |
|---|---|---|---|---|
| Michigan (this state) | 20.0% | 141,464 | 10.9% | 3.6% |
| Delaware | 20.0% | 17,361 | 15.0% | 6.3% |
| Hawaii | 20.1% | 12,213 | 4.0% | 12.9% |
| North Carolina | 19.6% | 188,875 | 11.0% | 9.5% |
| California | 19.1% | 335,898 | 11.7% | 4.1% |
| New Jersey | 19.0% | 106,113 | 12.0% | 2.4% |
Frequently asked questions
What was the mortgage denial rate in Michigan in 2023?
In 2023, the mortgage denial rate in Michigan was about 20.0% — that is, 35,280 applications were denied out of 176,744 that were either originated or denied. That is +0.4 points versus the national rate of 19.6%, and ranks Michigan #15 of 51 from highest to lowest. Figures are from HMDA; verify before relying on them.
How many mortgages were originated in Michigan?
Lenders originated about 141,464 home-purchase and refinance loans in Michigan in 2023 (HMDA reporting year), ranking it #10 of 51 by volume. Of those, the home-purchase denial rate was 15.7% and the refinance denial rate was 29.3%.
What share of Michigan mortgages are FHA or VA loans?
In Michigan, FHA loans made up about 10.9% of originations and VA loans about 3.6%, with conventional loans the largest share at 84.9% and USDA/RHS loans 0.6%. Higher government-backed shares often reflect more first-time and lower-down-payment buyers.
Is it harder to get a mortgage in Michigan than elsewhere?
Michigan's denial rate of 20.0% is close to the national denial rate. Denial rates reflect applicant credit, income and debt, loan type and local home prices as much as lender behavior, so a higher rate does not by itself mean stricter lenders. States with the most similar denial rates to Michigan are Delaware, Hawaii, North Carolina.
Keep exploring
Sources & accuracy
All counts are from the HMDA Data Browser (FFIEC / CFPB, 2023 reporting year, public domain). Denial rate, loan-type shares and ranks are transparent calculations over those counts (see methodology). This page is informational and is not financial or lending advice — verify with a licensed lender before making a decision.
Last updated: 2026-06-20