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

2021 Data | 2020 Data | 2019 Data | 2018 Data


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 include Cleveland, Akron, Youngstown, Canton, and Dayton among others. American Midwest Mortgage Corporation has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. American Midwest Mortgage Corporation is typically an average fee lendor.


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 rate mortgage of loans were 3.19%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.04%.

Relative Fees

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

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

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.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average 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 the 2021 period, American Midwest Mortgage Corporation's most frequently originated loan type of loans were Conventional, with 632 originations. Their 2nd most popular type is FHA, with 315 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average 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 the 2021, American Midwest Mortgage Corporation's most frequently cited loan purpose of loans were Home Purchase, with 756 originations. The 2nd most popular reason of loans were 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 the 2021, American Midwest Mortgage Corporation's most frequently cited loan length of loans were 30 Year, with 927 originations. The 2nd most popular length of loans were 15 Year, with 79 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 649 $116,365,000 $179,299
$2k-3k 169 $22,495,000 $133,107
$3k-4k 158 $27,680,000 $175,190
$<1k 50 $10,210,000 $204,200
$5k+ 11 $3,685,000 $335,000

$5,679 of loans were American Midwest Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees 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 of loans were 3.19%, while their most frequently originated rate bucket of loans were 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 1 $75,000 $75,000 $4,680 2.88%

Approval Rates

Total approvals of all applications
97.03%

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
89.70%

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%