American Midwest Mortgage Corporation Rates, Fees & Info

PARMA HTS, OH

LEI: 254900MJC4429E0HGL47

Tax ID: 34-1180767

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • 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

    American Midwest Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. American Midwest Mortgage Corporation has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Cleveland, Akron, Youngstown, Canton, and North Port among others. We have data for 22 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 a below 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 6.89% 12/16/24
    30 Year Conventional Refi 6.81% 12/16/24
    30 Year Cash-out Refi 6.95% 12/16/24
    30 Year FHA Purchase 7.90% 12/16/24
    30 Year FHA Refi 7.44% 12/16/24
    30 Year VA Purchase 6.62% 12/16/24
    30 Year VA Refi 6.88% 12/16/24
    30 Year USDA Purchase 7.14% 12/16/24
    15 Year Conventional Purchase 6.55% 12/16/24
    15 Year Conventional Refi 6.42% 12/16/24
    15 Year Cash-out Refi 6.42% 12/16/24
    15 Year FHA Purchase 7.30% 12/16/24
    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.

    American Midwest Mortgage Corporation Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from American Midwest Mortgage Corporation. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    846

    Origination Dollar Volume (All Markets)

    $116,820,000

    Awards

    American Midwest Mortgage Corporation VA Loans bronze
    Show all (1) 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
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 544 $74,370,000 $136,710 $5,699 5.02%
    AKRON, OH (FHA|USDA|VA) 135 $20,815,000 $154,185 $5,359 5.03%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 65 $5,695,000 $87,615 $5,000 5.15%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 29 $4,935,000 $170,172 $5,282 4.90%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 14 $2,700,000 $192,857 $6,210 4.76%
    Ashtabula, OH (FHA|USDA|VA) 17 $1,845,000 $108,529 $5,154 5.10%
    New Philadelphia-Dover, OH (FHA|USDA|VA) 7 $1,065,000 $152,143 $6,141 4.98%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 5 $965,000 $193,000 $6,071 4.73%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 4 $750,000 $187,500 $5,849 5.13%
    Sandusky, OH (FHA|USDA|VA) 4 $560,000 $140,000 $6,179 5.13%
    Norwalk, OH (FHA|USDA|VA) 3 $355,000 $118,333 $5,506 4.88%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $350,000 $175,000 $3,526 4.75%
    Wooster, OH (FHA|USDA|VA) 3 $345,000 $115,000 $5,951 4.83%
    Okeechobee, FL (FHA|USDA|VA) 2 $300,000 $150,000 $3,632 4.69%
    MANSFIELD, OH (FHA|USDA|VA) 2 $280,000 $140,000 $5,469 4.88%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $265,000 $265,000 $4,973 4.75%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $245,000 $245,000 $5,046 5.25%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $235,000 $235,000 $8,455 4.88%
    COLUMBUS, OH (FHA|USDA|VA) 2 $230,000 $115,000 $3,665 4.94%
    Salem, OH (FHA|USDA|VA) 2 $200,000 $100,000 $5,040 5.00%
    Outside of Metro Areas 2 $200,000 $100,000 $4,702 5.31%
    TOLEDO, OH (FHA|USDA|VA) 1 $115,000 $115,000 $6,455 4.75%
    American Midwest Mortgage Corporation's top markets include Cleveland, Akron, Youngstown, Canton, and North Port among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Florida (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.

    Cleveland Selfreliance FCU
    Similarity Rank: 15
    FIRESTONE
    Similarity Rank: 32
    Home Federal Savings and Loan Association of Niles
    Similarity Rank: 32
    RIVER VALLEY CREDIT UNION, INC.
    Similarity Rank: 69
    1st National Bank
    Similarity Rank: 117
    STARK FEDERAL CREDIT UNION
    Similarity Rank: 132
    Guardian Savings Bank, A Federal Savings Bank
    Similarity Rank: 135
    Greenville Federal
    Similarity Rank: 144
    New Carlisle Federal Savings Bank
    Similarity Rank: 224
    Firefighters & Company FCU
    Similarity Rank: 235

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 434 $51,890,000 $119,562 $6,313 5.11%
    Conventional 338 $52,240,000 $154,556 $4,666 4.94%
    VA 53 $9,975,000 $188,208 $5,258 4.81%
    USDA 21 $2,715,000 $129,286 $5,426 4.92%

    For 2018, American Midwest Mortgage Corporation's most frequently originated type of loan was FHA, with 434 originations. Their 2nd most popular type was Conventional, with 338 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 808 $110,860,000 $137,203 $5,565 5.03%
    Refi 32 $4,700,000 $146,875 $5,478 4.92%
    Cash Out Refi 5 $975,000 $195,000 $5,270 4.90%
    Home Improvement 1 $285,000 $285,000 $11,604 3.63%

    For 2018, American Midwest Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 808 originations. The 2nd most popular reason was Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 821 $113,395,000 $138,118 $5,606 5.04%
    15 Year 17 $2,025,000 $119,118 $4,324 4.47%
    20 Year 7 $1,205,000 $172,143 $4,219 4.41%
    Other 1 $195,000 $195,000 $3,984 4.75%

    For 2018, American Midwest Mortgage Corporation's most frequently cited loan duration was 30 Year, with 821 originations. The 2nd most popular length was 15 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 447 $62,965,000 $140,861
    $2k-3k 253 $27,785,000 $109,822
    $3k-4k 89 $14,015,000 $157,472
    $<1k 31 $5,295,000 $170,806
    $4k-5k 14 $3,280,000 $234,286
    $5k+ 12 $3,480,000 $290,000

    American Midwest Mortgage Corporation's average total fees were $5,606, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 447 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 520 $78,120,000 $150,231
    5-6% 315 $37,145,000 $117,921
    3-4% 6 $1,140,000 $190,000
    6-7% 5 $415,000 $83,000

    During 2018, American Midwest Mortgage Corporation's average interest rate for loans was 5.04%, while their most frequently originated rate bucket for loans was 4-5%, with 520 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 427 $60,375,000 $141,393 $5,638 4.96%
    $100,000 or less 283 $20,945,000 $74,011 $4,831 5.19%
    $200k-400k 131 $33,325,000 $254,389 $6,823 4.85%
    $400k-600k 5 $2,175,000 $435,000 $8,091 4.83%

    2018 saw American Midwest Mortgage Corporation place emphasis on $100k-200k loans with 427 originations, totaling $60,375,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 333 $32,825,000 $98,574 $5,135 5.05%
    $50k-75k 281 $39,485,000 $140,516 $5,789 5.04%
    $75k-100k 124 $21,300,000 $171,774 $5,793 5.02%
    $100k-150k 81 $16,815,000 $207,593 $6,184 4.89%
    $150k-250k 26 $6,100,000 $234,615 $5,747 4.78%
    $250k+ 1 $295,000 $295,000 $4,147 5.00%

    American Midwest Mortgage Corporation lent most frequently to those with incomes in the $50k or less range, with 333 originations. The second most popular income band? $50k-75k, with 281 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 153 $21,385,000 $139,771 $5,678 4.98%
    20-30% 131 $16,745,000 $127,824 $5,116 4.99%
    50-60% 77 $10,905,000 $141,623 $6,056 4.99%
    44% 41 $5,105,000 $124,512 $5,871 5.12%
    43% 40 $6,380,000 $159,500 $5,920 5.07%
    42% 39 $5,515,000 $141,410 $5,743 5.04%
    39% 38 $5,040,000 $132,632 $5,436 5.12%
    41% 36 $4,280,000 $118,889 $5,390 5.07%
    40% 35 $4,565,000 $130,429 $5,871 4.98%
    38% 34 $4,900,000 $144,118 $5,674 5.02%
    45% 33 $5,415,000 $164,091 $5,491 5.06%
    47% 33 $4,785,000 $145,000 $5,820 4.89%
    46% 30 $4,630,000 $154,333 $5,739 4.98%
    37% 29 $3,985,000 $137,414 $5,358 5.00%
    36% 27 $3,475,000 $128,704 $5,471 4.98%
    <20% 25 $2,685,000 $107,400 $4,455 5.07%
    49% 22 $3,550,000 $161,364 $5,156 5.13%
    48% 19 $3,005,000 $158,158 $5,839 5.14%
    >60% 4 $470,000 $117,500 $4,638 5.16%

    American Midwest Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 153 originations. The next most common DTI ratio? 20-30%, with 131 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 656 $93,550,000 $142,607 $5,528 4.98%
    Black 143 $17,095,000 $119,545 $5,888 5.19%
    Asian 27 $3,405,000 $126,111 $4,910 5.00%
    Not provided 19 $2,545,000 $133,947 $5,439 5.22%
    Asian Indian 1 $225,000 $225,000 $5,350 4.88%

    Approval Rates

    Total approvals of all applications
    96.54%

    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
    88.89%

    American Midwest Mortgage Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 846 $116,820,000 $138,085

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $170,000 $85,000
    Single Family (1-4 Units):Site-Built 844 $116,650,000 $138,211

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $255,000 $51,000 $3,732 4.78%
    40-60% 12 $1,710,000 $142,500 $4,873 4.81%
    60-80% 93 $13,215,000 $142,097 $4,687 5.04%
    80-100% 723 $98,795,000 $136,646 $5,641 5.03%
    Over 100% 13 $2,845,000 $218,846 $9,116 4.79%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 7 46.7%
    AMERISAVE MORTGAGE CORPORATION Other type of mortgage Closing on a mortgage 1 6.7%
    AMERISAVE MORTGAGE CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.7%
    AMERISAVE MORTGAGE CORPORATION FHA mortgage Trouble during payment process 1 6.7%
    AMERISAVE MORTGAGE CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.7%
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 1 6.7%
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Closing on a mortgage 3 20.0%