Midwest Heritage Bank Fsb Mortgage Rates, Fees & Info

CHARITON, IA

LEI: 254900FI363837PZX856

Tax ID: 42-0431125

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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, Nashville, Kansas City, Omaha, and Phoenix among others. We have data for 58 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Midwest Heritage Bank Fsb has an 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 about average 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    330

    Origination Dollar Volume (All Markets)

    $73,670,000

    Awards

    Midwest Heritage Bank FSB 30 Year Conventional Loans silver Midwest Heritage Bank FSB 30 Year Conventional Loans silver Midwest Heritage Bank FSB 30 Year Conventional Loans silver
    Show all (3) awards

    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) 114 $22,900,000 $200,877 $1,985 5.03%
    Outside of Metro Areas 84 $13,470,000 $160,357 $2,445 5.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 7 $3,535,000 $505,000 $3,532 4.80%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 16 $3,420,000 $213,750 $2,079 4.95%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 10 $3,110,000 $311,000 $2,242 4.21%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $2,380,000 $595,000 $7,979 4.75%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 8 $2,320,000 $290,000 $2,761 4.95%
    Spirit Lake, IA (FHA|USDA|VA) 3 $1,795,000 $598,333 $6,176 4.88%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 4 $1,690,000 $422,500 $4,341 5.63%
    COLUMBIA, MO (FHA|USDA|VA) 3 $1,225,000 $408,333 $2,085 4.25%
    AMES, IA (FHA|USDA|VA) 9 $1,205,000 $133,889 $1,332 5.08%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 4 $1,160,000 $290,000 $1,829 5.78%
    LOUISVILLE, KY (FHA|USDA|VA) 2 $1,030,000 $515,000 $3,850 3.69%
    IOWA CITY, IA (FHA|USDA|VA) 4 $870,000 $217,500 $1,962 5.44%
    THE VILLAGES, FL (FHA|USDA|VA) 2 $860,000 $430,000 $6,085 3.94%
    LINCOLN, NE (FHA|USDA|VA) 3 $845,000 $281,667 $2,780 5.46%
    SPRINGFIELD, MO (FHA|USDA|VA) 2 $750,000 $375,000 $2,743 5.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $730,000 $365,000 $5,826 6.44%
    Pella, IA (FHA|USDA|VA) 4 $720,000 $180,000 $1,483 5.72%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $705,000 $705,000 $0 4.95%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $655,000 $655,000 $7,429 4.75%
    MADISON, WI (FHA|USDA|VA) 1 $645,000 $645,000 $3,588 5.75%
    Mason City, IA (FHA|USDA|VA) 2 $620,000 $310,000 $1,943 5.50%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $575,000 $575,000 $5,254 3.13%
    PEORIA, IL (FHA|USDA|VA) 1 $455,000 $455,000 $2,228 4.75%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $445,000 $445,000 $3,024 4.13%
    GREEN BAY, WI (FHA|USDA|VA) 1 $395,000 $395,000 $4,079 6.13%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 2 $350,000 $175,000 $3,216 4.00%
    ROCHESTER, MN (FHA|USDA|VA) 2 $340,000 $170,000 $1,498 5.94%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $325,000 $325,000 $4,851 6.75%
    Clinton, IA (FHA|USDA|VA) 1 $325,000 $325,000 $2,421 3.88%
    LAWRENCE, KS (FHA|USDA|VA) 1 $295,000 $295,000 $2,166 4.25%
    SPRINGFIELD, IL (FHA|USDA|VA) 1 $275,000 $275,000 $3,376 5.63%
    Ottumwa, IA (FHA|USDA|VA) 1 $265,000 $265,000 $3,815 6.25%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $245,000 $245,000 $4,618 5.50%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 2 $240,000 $120,000 $861 6.44%
    Rochelle, IL (FHA|USDA|VA) 1 $225,000 $225,000 $2,678 5.63%
    Austin, MN (FHA|USDA|VA) 1 $195,000 $195,000 $2,895 4.63%
    Kirksville, MO (FHA|USDA|VA) 1 $195,000 $195,000 $2,171 4.00%
    Fort Dodge, IA (FHA|USDA|VA) 1 $175,000 $175,000 $2,563 2.75%
    Fremont, NE (FHA|USDA|VA) 1 $175,000 $175,000 $2,247 4.25%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $175,000 $175,000 $4,059 4.13%
    Carroll, IA (FHA|USDA|VA) 2 $160,000 $80,000 $3,084 4.63%
    Ottawa, KS (FHA|USDA|VA) 1 $155,000 $155,000 $2,025 7.50%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $125,000 $125,000 $478 5.25%
    ST. JOSEPH, MO-KS (FHA|USDA|VA) 1 $115,000 $115,000 $2,043 5.00%
    MANKATO, MN (FHA|USDA|VA) 1 $105,000 $105,000 $908 5.25%
    Quincy, IL-MO (FHA|USDA|VA) 1 $105,000 $105,000 $2,125 6.13%
    Yankton, SD (FHA|USDA|VA) 1 $95,000 $95,000 $2,103 3.13%
    DUBUQUE, IA (FHA|USDA|VA) 2 $90,000 $45,000 $546 5.63%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $85,000 $85,000 $313 5.00%
    Brainerd, MN (FHA|USDA|VA) 1 $75,000 $75,000 $313 5.00%
    Vermillion, SD (FHA|USDA|VA) 1 $65,000 $65,000 $1,202 4.63%
    Muscatine, IA (FHA|USDA|VA) 1 $65,000 $65,000 $741 5.00%
    Marshalltown, IA (FHA|USDA|VA) 1 $35,000 $35,000 $611 4.00%
    DECATUR, IL (FHA|USDA|VA) 1 $35,000 $35,000 $363 5.25%
    Galesburg, IL (FHA|USDA|VA) 1 $25,000 $25,000 $363 8.00%
    Burlington, IA-IL (FHA|USDA|VA) 1 $25,000 $25,000 $366 6.75%
    Midwest Heritage Bank Fsb's top markets include Des Moines, Nashville, Kansas City, Omaha, and Phoenix among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)

    • 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.

    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 150
    MEMBERS1st Community Credit Union
    Similarity Rank: 161
    MAINSTREET FEDERAL CREDIT UNION
    Similarity Rank: 175
    FINANCIAL PLUS Credit Union
    Similarity Rank: 236
    FRONTIER COMMUNITY CREDIT UNION
    Similarity Rank: 354
    Farmers State Bank
    Similarity Rank: 399
    Serve Credit Union
    Similarity Rank: 420
    COMMUNITY 1ST CREDIT UNION
    Similarity Rank: 464
    Premier Credit Union
    Similarity Rank: 504
    GREATER IOWA CREDIT UNION
    Similarity Rank: 675

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 330 $73,670,000 $223,242 $2,396 5.02%

    For 2022, Midwest Heritage Bank Fsb's most frequently originated type of loan was Conventional, with 330 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 194 $57,530,000 $296,546 $3,120 5.09%
    Refi 50 $7,480,000 $149,600 $1,877 4.41%
    Home Improvement 48 $2,440,000 $50,833 $833 5.33%
    Cash Out Refi 20 $3,280,000 $164,000 $2,364 4.02%
    Other 18 $2,940,000 $163,333 $668 6.26%

    For 2022, Midwest Heritage Bank Fsb's most frequently cited loan purpose was Home Purchase, with 194 originations. The 2nd most popular reason was Refi, with 50 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 163 $31,465,000 $193,037 $2,171 5.46%
    30 Year 124 $31,660,000 $255,323 $2,653 4.73%
    15 Year 25 $3,935,000 $157,400 $2,517 3.57%
    5 Year 9 $4,345,000 $482,778 $0 5.13%
    20 Year 5 $1,885,000 $377,000 $2,216 4.38%
    10 Year 4 $380,000 $95,000 $0 5.53%

    For 2022, Midwest Heritage Bank Fsb's most frequently cited loan duration was Other, with 163 originations. The 2nd most popular length was 30 Year, with 124 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 233 $43,935,000 $188,562
    $1k-2k 29 $4,855,000 $167,414
    $2k-3k 21 $6,655,000 $316,905
    $3k-4k 10 $5,260,000 $526,000
    $4k-5k 3 $2,135,000 $711,667
    $5k+ 2 $1,900,000 $950,000

    Midwest Heritage Bank Fsb's average total fees were $2,653, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 233 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 95 $20,855,000 $219,526
    3-4% 87 $18,945,000 $217,759
    4-5% 78 $21,940,000 $281,282
    6-7% 42 $8,900,000 $211,905
    7-8% 14 $1,740,000 $124,286
    2.5-3% 10 $1,130,000 $113,000
    Over 8% 4 $160,000 $40,000

    During 2022, Midwest Heritage Bank Fsb's average interest rate for loans was 4.73%, while their most frequently originated rate bucket for loans was 5-6%, with 95 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 115 $6,125,000 $53,261 $1,262 5.34%
    $200k-400k 81 $22,395,000 $276,481 $3,052 4.92%
    $100k-200k 80 $11,760,000 $147,000 $2,167 4.67%
    $400k-600k 36 $18,320,000 $508,889 $3,658 4.91%
    $600k-1MM 16 $11,490,000 $718,125 $4,953 5.09%
    $1MM+ 2 $3,580,000 $1,790,000 $8,151 5.63%

    2022 saw Midwest Heritage Bank Fsb place emphasis on $100,000 or less loans with 115 originations, totaling $6,125,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 68 $26,990,000 $396,912 $3,195 5.13%
    $75k-100k 55 $7,885,000 $143,364 $2,085 5.13%
    $100k-150k 49 $9,165,000 $187,041 $2,050 5.31%
    $50k-75k 47 $6,665,000 $141,809 $2,424 4.93%
    $150k-250k 40 $9,730,000 $243,250 $2,323 4.96%
    $50k or less 37 $3,115,000 $84,189 $2,045 4.43%

    Midwest Heritage Bank Fsb lent most frequently to those with incomes in the $250k+ range, with 68 originations. The second most popular income band? $75k-100k, with 55 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 93 $24,615,000 $264,677 $2,662 5.03%
    30-36% 70 $14,140,000 $202,000 $2,357 5.05%
    <20% 39 $9,945,000 $255,000 $2,411 4.71%
    38% 17 $2,435,000 $143,235 $2,086 4.90%
    41% 12 $2,480,000 $206,667 $2,521 4.96%
    42% 11 $2,215,000 $201,364 $2,745 4.89%
    39% 9 $2,375,000 $263,889 $3,131 5.21%
    40% 8 $690,000 $86,250 $1,918 5.22%
    37% 7 $615,000 $87,857 $997 6.29%
    36% 6 $1,110,000 $185,000 $2,491 5.04%
    45% 5 $535,000 $107,000 $1,203 5.60%
    43% 5 $785,000 $157,000 $2,151 4.65%
    48% 4 $480,000 $120,000 $1,561 4.28%
    44% 4 $560,000 $140,000 $1,699 4.84%
    47% 3 $625,000 $208,333 $1,726 5.83%
    49% 3 $705,000 $235,000 $2,528 4.79%
    46% 3 $395,000 $131,667 $2,161 4.38%
    50-60% 2 $190,000 $95,000 $2,654 4.63%
    >60% 1 $85,000 $85,000 $761 3.50%

    Midwest Heritage Bank Fsb lent most frequently to those with DTI ratios of 20-30%, with 93 originations. The next most common DTI ratio? 30-36%, with 70 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 294 $62,660,000 $213,129 $2,393 5.05%
    Not applicable 22 $8,340,000 $379,091 $0 5.00%
    Not provided 10 $2,030,000 $203,000 $2,367 4.33%
    Asian 3 $515,000 $171,667 $2,565 5.00%
    American Indian 1 $125,000 $125,000 $2,861 4.00%

    Approval Rates

    Total approvals of all applications
    86.15%

    Midwest Heritage Bank Fsb has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.12%

    Midwest Heritage Bank Fsb has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 330 $73,670,000 $223,242

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    330 $73,670,000 $223,242

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 40 $5,050,000 $126,250 $1,166 5.52%
    40-60% 27 $5,925,000 $219,444 $2,150 4.04%
    60-80% 80 $22,260,000 $278,250 $3,077 4.70%
    80-100% 111 $33,735,000 $303,919 $3,222 5.00%
    Over 100% 1 $525,000 $525,000 $0 4.75%
    Under 20% 71 $6,175,000 $86,972 $682 5.51%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Midwest Loan Services, Inc. Conventional home mortgage Struggling to pay mortgage 1 100.0%