American Midwest Mortgage Corporation Rates, Fees & Info

PARMA HTS, OH

LEI: 254900MJC4429E0HGL47

Tax ID: 34-1180767

4 stars - out of 5 stars, based on 32 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    American Midwest Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. American Midwest Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Cleveland, Akron, Youngstown, Canton, and Dayton among others. We have data for 28 markets. (Some data included below & more in-depth data is available with an active subscription.)

    American Midwest Mortgage Corporation 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. American Midwest Mortgage Corporation is typically an average 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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    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.06% 12/4/22
    30 Year Conventional Refi 6.93% 12/4/22
    30 Year Cash-out Refi 7.02% 12/4/22
    30 Year FHA Purchase 7.94% 12/4/22
    30 Year FHA Refi 7.36% 12/4/22
    30 Year VA Purchase 6.64% 12/4/22
    30 Year VA Refi 6.43% 12/4/22
    30 Year USDA Purchase 7.16% 12/4/22
    30 Year USDA Refi 6.90% 12/4/22
    15 Year Conventional Purchase 6.23% 12/4/22
    15 Year Conventional Refi 6.20% 12/4/22
    15 Year Cash-out Refi 6.20% 12/4/22
    15 Year FHA Refi 7.24% 12/4/22
    15 Year VA Refi 6.30% 12/4/22
    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.


    Originations

    1,037

    Origination Dollar Volume (All Markets)

    $180,435,000

    Awards

    American Midwest Mortgage Corporation 30 Year Conventional Loans bronze
    Show all (1) awards

    Relative Rate

    American Midwest Mortgage Corporation's average 30 year fixed mortgage rate was 3.19%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.04%.

    Relative Fees (Closing Costs)

    American Midwest Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $5,679.

    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 $4,750.

    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
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 702 $120,230,000 $171,268 $5,621 3.13%
    AKRON, OH (FHA|USDA|VA) 150 $28,160,000 $187,733 $5,577 3.07%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 55 $6,635,000 $120,636 $5,152 3.30%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 34 $6,380,000 $187,647 $5,450 3.07%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 25 $5,095,000 $203,800 $5,666 3.17%
    Ashtabula, OH (FHA|USDA|VA) 12 $1,720,000 $143,333 $5,034 3.19%
    COLUMBUS, OH (FHA|USDA|VA) 6 $1,600,000 $266,667 $6,208 2.98%
    New Philadelphia-Dover, OH (FHA|USDA|VA) 8 $1,480,000 $185,000 $4,177 3.09%
    Sandusky, OH (FHA|USDA|VA) 7 $1,455,000 $207,857 $4,151 2.96%
    Wooster, OH (FHA|USDA|VA) 7 $1,335,000 $190,714 $4,907 3.05%
    SPRINGFIELD, OH (FHA|USDA|VA) 6 $1,130,000 $188,333 $6,835 2.92%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $875,000 $291,667 $4,078 3.38%
    Norwalk, OH (FHA|USDA|VA) 4 $640,000 $160,000 $5,660 2.84%
    Ashland, OH (FHA|USDA|VA) 2 $410,000 $205,000 $6,258 2.75%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $395,000 $395,000 $5,014 3.25%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $385,000 $385,000 $4,658 3.25%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $345,000 $345,000 $6,603 2.63%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $330,000 $165,000 $3,973 3.38%
    TOLEDO, OH (FHA|USDA|VA) 2 $290,000 $145,000 $3,986 2.88%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $275,000 $275,000 $1,922 2.50%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $255,000 $255,000 $5,384 3.38%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $245,000 $245,000 $3,572 2.38%
    Sidney, OH (FHA|USDA|VA) 1 $185,000 $185,000 $6,556 3.25%
    Salem, OH (FHA|USDA|VA) 1 $165,000 $165,000 $6,174 3.00%
    Greenville, OH (FHA|USDA|VA) 1 $145,000 $145,000 $4,438 3.13%
    Fremont, OH (FHA|USDA|VA) 1 $115,000 $115,000 $7,239 3.13%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $95,000 $95,000 $4,279 3.25%
    LIMA, OH (FHA|USDA|VA) 1 $65,000 $65,000 $3,988 3.00%
    American Midwest Mortgage Corporation's top markets include Cleveland, Akron, Youngstown, Canton, and Dayton among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against American Midwest Mortgage Corporation based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Greenville Federal
    Similarity Rank: 396
    GENERAL ELECTRIC CREDIT UNION
    Similarity Rank: 432
    Day Air Credit Union, Inc
    Similarity Rank: 432
    LCNB National Bank
    Similarity Rank: 624
    RIVER VALLEY CREDIT UNION, INC.
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    Community Star Credit Union
    Similarity Rank: 792

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 632 $113,620,000 $179,778 $4,711 3.15%
    FHA 315 $48,065,000 $152,587 $7,165 3.15%
    VA 70 $15,560,000 $222,286 $5,604 2.85%
    USDA 20 $3,190,000 $159,500 $6,248 2.96%

    For 2021, American Midwest Mortgage Corporation's most frequently originated type of loan was Conventional, with 632 originations. Their 2nd most popular type was FHA, with 315 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 756 $132,560,000 $175,344 $5,869 3.20%
    Refi 241 $41,725,000 $173,133 $4,659 2.91%
    Cash Out Refi 39 $6,045,000 $155,000 $4,824 3.05%
    Home Improvement 1 $105,000 $105,000 $3,434 2.88%

    For 2021, American Midwest Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 756 originations. The 2nd most popular reason was Refi, with 241 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 927 $163,085,000 $175,928 $5,679 3.19%
    15 Year 79 $12,335,000 $156,139 $4,419 2.52%
    20 Year 22 $3,960,000 $180,000 $4,426 2.89%
    10 Year 5 $525,000 $105,000 $4,344 2.40%
    Other 4 $530,000 $132,500 $4,729 3.25%

    For 2021, American Midwest Mortgage Corporation's most frequently cited loan duration was 30 Year, with 927 originations. The 2nd most popular length was 15 Year, with 79 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 649 $116,365,000 $179,299
    $2k-3k 169 $22,495,000 $133,107
    $3k-4k 135 $21,895,000 $162,185
    $<1k 50 $10,210,000 $204,200
    $4k-5k 23 $5,785,000 $251,522
    $5k+ 11 $3,685,000 $335,000

    American Midwest Mortgage Corporation's average total fees were $5,679, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 649 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 480 $80,500,000 $167,708
    2.5-3% 429 $80,625,000 $187,937
    <2.5% 90 $15,910,000 $176,778
    4-5% 38 $3,400,000 $89,474

    During 2021, American Midwest Mortgage Corporation's average interest rate for loans was 3.19%, while their most frequently originated rate bucket for loans was 3-4%, with 480 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 556 $80,130,000 $144,119 $5,432 3.11%
    $200k-400k 288 $76,620,000 $266,042 $6,248 3.02%
    $100,000 or less 172 $13,370,000 $77,733 $4,595 3.34%
    $400k-600k 21 $10,315,000 $491,190 $6,731 3.08%

    2021 saw American Midwest Mortgage Corporation place emphasis on $100k-200k loans with 556 originations, totaling $80,130,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 331 $40,305,000 $121,767 $5,343 3.12%
    $50k-75k 301 $49,275,000 $163,704 $5,482 3.11%
    $75k-100k 185 $38,005,000 $205,432 $5,900 3.07%
    $100k-150k 123 $29,185,000 $237,276 $5,523 3.11%
    $150k-250k 72 $18,480,000 $256,667 $5,939 3.17%
    $250k+ 25 $5,185,000 $207,400 $5,372 3.71%

    American Midwest Mortgage Corporation lent most frequently to those with incomes in the $50k or less range, with 331 originations. The second most popular income band? $50k-75k, with 301 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 198 $34,330,000 $173,384 $5,357 3.07%
    30-36% 191 $32,445,000 $169,869 $5,214 3.12%
    <20% 83 $13,675,000 $164,759 $4,768 3.22%
    50-60% 69 $11,575,000 $167,754 $7,146 3.10%
    44% 49 $9,645,000 $196,837 $6,400 3.18%
    41% 49 $9,165,000 $187,041 $5,397 3.17%
    40% 48 $8,200,000 $170,833 $5,162 3.18%
    37% 45 $6,895,000 $153,222 $5,547 3.15%
    38% 43 $7,575,000 $176,163 $5,508 3.26%
    43% 36 $7,310,000 $203,056 $6,185 3.10%
    39% 35 $5,835,000 $166,714 $5,443 3.09%
    42% 35 $6,535,000 $186,714 $5,790 2.93%
    45% 35 $6,025,000 $172,143 $5,520 3.18%
    36% 30 $5,520,000 $184,000 $5,117 3.18%
    48% 26 $4,320,000 $166,154 $5,864 2.97%
    49% 24 $4,770,000 $198,750 $5,066 3.03%
    46% 23 $4,035,000 $175,435 $6,094 3.18%
    47% 18 $2,580,000 $143,333 $6,494 3.29%

    American Midwest Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 198 originations. The next most common DTI ratio? 30-36%, with 191 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 743 $131,275,000 $176,682 $5,295 3.08%
    Black 214 $33,200,000 $155,140 $6,262 3.26%
    Not provided 52 $10,740,000 $206,538 $6,331 3.11%
    Asian 23 $4,145,000 $180,217 $4,986 3.25%
    Asian Indian 1 $505,000 $505,000 $5,740 2.63%
    American Indian 2 $340,000 $170,000 $8,445 3.38%
    1 $155,000 $155,000 $6,072 3.75%
    Native Hawaiian or Islander 1 $75,000 $75,000 $4,680 2.88%

    Approval Rates

    Total approvals of all applications
    96.50%

    American Midwest Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    91.42%

    American Midwest Mortgage Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,037 $180,435,000 $173,997

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,037 $180,435,000 $173,997

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $1,280,000 $106,667 $4,113 2.92%
    40-60% 50 $8,540,000 $170,800 $4,334 2.69%
    60-80% 264 $44,800,000 $169,697 $4,617 3.20%
    80-100% 703 $123,455,000 $175,612 $5,930 3.13%
    Over 100% 8 $2,360,000 $295,000 $12,247 2.86%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 212 44.5%
    AMERISAVE MORTGAGE CORPORATION VA mortgage Trouble during payment process 3 0.6%
    AMERISAVE MORTGAGE CORPORATION VA mortgage Closing on a mortgage 3 0.6%
    AMERISAVE MORTGAGE CORPORATION VA mortgage Applying for a mortgage or refinancing an existing mortgage 23 4.8%
    AMERISAVE MORTGAGE CORPORATION Other type of mortgage Trouble during payment process 1 0.2%
    AMERISAVE MORTGAGE CORPORATION Other type of mortgage Improper use of your report 1 0.2%
    AMERISAVE MORTGAGE CORPORATION Other type of mortgage Closing on a mortgage 2 0.4%
    AMERISAVE MORTGAGE CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 14 2.9%
    AMERISAVE MORTGAGE CORPORATION Home equity loan or line of credit (HELOC) Closing on a mortgage 1 0.2%
    AMERISAVE MORTGAGE CORPORATION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 0.2%
    AMERISAVE MORTGAGE CORPORATION FHA mortgage Trouble during payment process 1 0.2%
    AMERISAVE MORTGAGE CORPORATION FHA mortgage Incorrect information on your report 1 0.2%
    AMERISAVE MORTGAGE CORPORATION FHA mortgage Closing on a mortgage 4 0.8%
    AMERISAVE MORTGAGE CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 35 7.4%
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 65 13.7%
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Struggling to pay mortgage 1 0.2%
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Improper use of your report 3 0.6%
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Closing on a mortgage 105 22.1%