Midstates Bank Mortgage Rates, Fees & Info
Council Bluffs, IALEI: 2549002IXACRD1HE6A92
Tax ID: 42-0296630
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Mortgage Data
Review & Overview
Midstates Bank is a smaller bank specializing in Home Purchase loans. Midstates Bank has a high proportion of conventional loans. Their top markets by origination volume include: Omaha, Sioux City, Des Moines, Spencer, and Fremont among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Midstates Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
119Origination Dollar Volume (All Markets)
$24,945,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 45 | $10,255,000 | $227,889 | $0 | 0.00% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 51 | $7,445,000 | $145,980 | $0 | 0.00% |
| Outside of Metro Areas | 13 | $3,795,000 | $291,923 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 6 | $2,660,000 | $443,333 | $0 | 0.00% |
| Spencer, IA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $0 | 0.00% |
| Fremont, NE (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 119 | $24,945,000 | $209,622 | $0 | 0.00% |
For 2023, Midstates Bank's most frequently originated type of loan was Conventional, with 119 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 92 | $21,080,000 | $229,130 | $0 | 0.00% |
| Refi | 17 | $2,945,000 | $173,235 | $0 | 0.00% |
| Home Improvement | 10 | $920,000 | $92,000 | $0 | 0.00% |
For 2023, Midstates Bank's most frequently cited loan purpose was Home Purchase, with 92 originations. The 2nd most popular reason was Refi, with 17 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 119 | $24,945,000 | $209,622 | $0 | 0.00% |
For 2023, Midstates Bank's most frequently cited loan duration was Other, with 119 originations.
Loan Sizing
2023 saw Midstates Bank place emphasis on $100k-200k loans with 47 originations, totaling $6,375,000 in origination value.
Applicant Income
Midstates Bank lent most frequently to those with incomes in the $50k-75k range, with 6 originations. The second most popular income band? $100k-150k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 119 | $24,945,000 | $209,622 | $0 | 0.00% |
Midstates Bank lent most frequently to those with DTI ratios of Exempt%, with 119 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 97 | $22,215,000 | $229,021 | $0 | 0.00% |
| White | 22 | $2,730,000 | $124,091 | $0 | 0.00% |
Approval Rates
Total approvals of all applications99.18%
Midstates Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination99.16%
Midstates Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 119 | $24,945,000 | $209,622 |