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, 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.75% | 4/21/24 |
| 30 Year Conventional Refi | 6.69% | 4/21/24 |
| 30 Year Cash-out Refi | 6.79% | 4/21/24 |
| 30 Year FHA Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 6.38% | 4/21/24 |
| 15 Year Conventional Refi | 6.17% | 4/21/24 |
| 15 Year Cash-out Refi | 6.17% | 4/21/24 |
| 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
330Origination Dollar Volume (All Markets)
$73,670,000Awards
Midwest Heritage Bank FSB - 2022
Midwest Heritage Bank FSB is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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% |
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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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications86.15%
Midwest Heritage Bank Fsb has an average approval rate.
Pick Rate
Approvals leading to origination72.12%
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 |
LTV Distribution
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% |