American Midwest Mortgage Corporation Rates, Fees & Info
PARMA HTS, OHLEI: 254900MJC4429E0HGL47
Tax ID: 34-1180767
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
1,037Origination Dollar Volume (All Markets)
$180,435,000Awards
American Midwest Mortgage Corporation - 2021
American Midwest Mortgage Corporation is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications97.03%
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 origination89.70%
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% |
