Midwest Heritage Bank Fsb Mortgage Rates, Fees & Info
CHARITON, IALEI: 254900FI363837PZX856
Tax ID: 42-0431125
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Mortgage Data
Review & Overview
Midwest Heritage Bank Fsb is a smaller bank specializing in Home Purchase loans. Midwest Heritage Bank Fsb has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Kansas City, Spirit Lake, Omaha, and Breckenridge among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)Midwest Heritage Bank Fsb has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Midwest Heritage Bank Fsb is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.75% | 4/14/24 |
| 30 Year Conventional Refi | 6.69% | 4/14/24 |
| 30 Year Cash-out Refi | 6.79% | 4/14/24 |
| 30 Year FHA Purchase | 6.27% | 4/14/24 |
| 15 Year Conventional Purchase | 6.38% | 4/14/24 |
| 15 Year Conventional Refi | 6.17% | 4/14/24 |
| 15 Year Cash-out Refi | 6.17% | 4/14/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Midwest Heritage Bank Fsb Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
244Origination Dollar Volume (All Markets)
$62,920,000Awards
Midwest Heritage Bank FSB - 2023
Midwest Heritage Bank FSB is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Midwest Heritage Bank Fsb's average 30 year fixed mortgage rate was
6.63%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.15%.
Relative Fees (Closing Costs)
Midwest Heritage Bank Fsb's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,119.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
Top 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 |
|---|---|---|---|---|---|
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 115 | $30,745,000 | $267,348 | $2,052 | 6.99% |
| Outside of Metro Areas | 48 | $10,090,000 | $210,208 | $2,499 | 6.97% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 14 | $2,430,000 | $173,571 | $1,801 | 7.49% |
| Spirit Lake, IA (FHA|USDA|VA) | 5 | $2,175,000 | $435,000 | $2,377 | 6.90% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 8 | $1,650,000 | $206,250 | $2,578 | 6.72% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $1,305,000 | $1,305,000 | $10,111 | 8.25% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 3 | $1,285,000 | $428,333 | $4,324 | 7.58% |
| LINCOLN, NE (FHA|USDA|VA) | 2 | $1,240,000 | $620,000 | $4,194 | 6.88% |
| AMES, IA (FHA|USDA|VA) | 7 | $1,215,000 | $173,571 | $2,613 | 7.38% |
| IOWA CITY, IA (FHA|USDA|VA) | 3 | $1,185,000 | $395,000 | $4,317 | 6.46% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $1,045,000 | $1,045,000 | $9,408 | 7.50% |
| MADISON, WI (FHA|USDA|VA) | 2 | $1,010,000 | $505,000 | $5,636 | 6.50% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $6,591 | 6.44% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 4 | $830,000 | $207,500 | $2,385 | 6.31% |
| Quincy, IL-MO (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $2,246 | 8.17% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $4,072 | 5.88% |
| Pella, IA (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $1,963 | 6.94% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 7.75% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $3,455 | 6.81% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $2,420 | 7.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,429 | 7.38% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,185 | 7.38% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $438 | 7.00% |
| DUBUQUE, IA (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $2,884 | 6.31% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $3,590 | 6.06% |
| PEORIA, IL (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $1,949 | 9.25% |
| Carroll, IA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,979 | 7.00% |
| Fort Dodge, IA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,986 | 6.50% |
| Kirksville, MO (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,839 | 6.13% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.50% |
| Oskaloosa, IA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $363 | 6.75% |
| Owatonna, MN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $319 | 7.50% |
| Austin, MN (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $343 | 6.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Midwest Heritage Bank FSB based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 244 | $62,920,000 | $257,869 | $2,470 | 7.01% |
For 2023, Midwest Heritage Bank Fsb's most frequently originated type of loan was Conventional, with 244 originations.
Loan Reason
For 2023, Midwest Heritage Bank Fsb's most frequently cited loan purpose was Home Purchase, with 151 originations. The 2nd most popular reason was Other, with 34 originations.
Loan Duration/Length
For 2023, Midwest Heritage Bank Fsb's most frequently cited loan duration was Other, with 154 originations. The 2nd most popular length was 30 Year, with 51 originations.
Origination Fees/Closing Costs
Midwest Heritage Bank Fsb's average total fees were $3,119, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 132 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 124 | $37,900,000 | $305,645 |
| 7-8% | 70 | $15,300,000 | $218,571 |
| 5-6% | 28 | $6,580,000 | $235,000 |
| Over 8% | 22 | $3,140,000 | $142,727 |
During 2023, Midwest Heritage Bank Fsb's average interest rate for loans was 6.63%, while their most frequently originated rate bucket for loans was 6-7%, with 124 originations.
Loan Sizing
2023 saw Midwest Heritage Bank Fsb place emphasis on $100,000 or less loans with 85 originations, totaling $3,975,000 in origination value.
Applicant Income
Midwest Heritage Bank Fsb lent most frequently to those with incomes in the $100k-150k range, with 48 originations. The second most popular income band? $250k+, with 43 originations.
Applicant Debt to Income Ratio
Midwest Heritage Bank Fsb lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 34 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.51%
Midwest Heritage Bank Fsb has an average approval rate.
Pick Rate
Approvals leading to origination80.74%
Midwest Heritage Bank Fsb has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 244 | $62,920,000 | $257,869 |