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

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  • 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, Canton, Youngstown, and Dayton among others. We have data for 24 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

    892

    Origination Dollar Volume (All Markets)

    $136,830,000

    Awards

    American Midwest Mortgage Corporation FHA 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 $82,280,000 $151,250 $5,925 4.39%
    AKRON, OH (FHA|USDA|VA) 125 $19,105,000 $152,840 $5,664 4.39%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 41 $7,935,000 $193,537 $4,792 4.15%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 53 $5,925,000 $111,792 $4,826 4.43%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 35 $5,475,000 $156,429 $6,577 4.22%
    New Philadelphia-Dover, OH (FHA|USDA|VA) 18 $2,680,000 $148,889 $4,889 4.33%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 10 $2,590,000 $259,000 $5,748 3.96%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 11 $2,475,000 $225,000 $5,815 4.15%
    Sandusky, OH (FHA|USDA|VA) 10 $1,690,000 $169,000 $5,912 4.74%
    Ashtabula, OH (FHA|USDA|VA) 16 $1,620,000 $101,250 $5,711 4.66%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $890,000 $222,500 $6,912 3.88%
    COLUMBUS, OH (FHA|USDA|VA) 4 $860,000 $215,000 $8,732 3.88%
    Norwalk, OH (FHA|USDA|VA) 5 $645,000 $129,000 $6,030 4.55%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $480,000 $240,000 $8,416 4.13%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $415,000 $415,000 $5,650 4.00%
    Ashland, OH (FHA|USDA|VA) 2 $320,000 $160,000 $5,118 3.81%
    Outside of Metro Areas 2 $290,000 $145,000 $6,629 4.19%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,837 4.88%
    Salem, OH (FHA|USDA|VA) 2 $180,000 $90,000 $4,923 4.38%
    WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 1 $175,000 $175,000 $3,970 3.88%
    Marietta, OH (FHA|USDA|VA) 1 $175,000 $175,000 $4,388 3.50%
    Wooster, OH (FHA|USDA|VA) 2 $170,000 $85,000 $4,823 4.38%
    MANSFIELD, OH (FHA|USDA|VA) 1 $115,000 $115,000 $5,605 4.50%
    TOLEDO, OH (FHA|USDA|VA) 1 $85,000 $85,000 $4,544 4.75%
    American Midwest Mortgage Corporation's top markets include Cleveland, Akron, Canton, Youngstown, and Dayton 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: 33
    RIVER VALLEY CREDIT UNION, INC.
    Similarity Rank: 212
    KH NETWORK CREDIT UNION
    Similarity Rank: 304
    Community Star Credit Union
    Similarity Rank: 360
    First Security Mortgage Corporation
    Similarity Rank: 378
    First Federal Savings and Loan Association of Lorain
    Similarity Rank: 424
    SIBCY CLINE MORTGAGE SERVICES, INC.
    Similarity Rank: 444
    Ukrainian Federal Credit Union
    Similarity Rank: 450
    1st National Bank
    Similarity Rank: 540
    CARDINAL CREDIT UNION, INC.
    Similarity Rank: 574

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 404 $55,420,000 $137,178 $6,837 4.46%
    Conventional 397 $65,805,000 $165,756 $4,732 4.35%
    VA 66 $12,360,000 $187,273 $5,707 4.00%
    USDA 25 $3,245,000 $129,800 $5,555 4.16%

    For 2019, American Midwest Mortgage Corporation's most frequently originated type of loan was FHA, with 404 originations. Their 2nd most popular type was Conventional, with 397 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 801 $119,065,000 $148,645 $5,852 4.40%
    Refi 89 $17,205,000 $193,315 $5,089 4.09%
    Cash Out Refi 2 $560,000 $280,000 $7,498 4.06%

    For 2019, American Midwest Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 801 originations. The 2nd most popular reason was Refi, with 89 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 850 $129,120,000 $151,906 $5,832 4.40%
    20 Year 20 $4,060,000 $203,000 $4,417 3.84%
    15 Year 19 $3,245,000 $170,789 $5,147 3.70%
    10 Year 2 $190,000 $95,000 $4,160 3.88%
    Other 1 $215,000 $215,000 $4,038 3.75%

    For 2019, American Midwest Mortgage Corporation's most frequently cited loan duration was 30 Year, with 850 originations. The 2nd most popular length was 20 Year, with 20 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 464 $74,160,000 $159,828
    $2k-3k 226 $28,160,000 $124,602
    $3k-4k 137 $20,655,000 $150,766
    $<1k 29 $5,025,000 $173,276
    $4k-5k 27 $5,965,000 $220,926
    $5k+ 9 $2,865,000 $318,333

    American Midwest Mortgage Corporation's average total fees were $5,832, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 464 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 452 $67,060,000 $148,363
    3-4% 305 $53,925,000 $176,803
    5-6% 131 $15,155,000 $115,687
    6-7% 2 $260,000 $130,000
    7-8% 2 $430,000 $215,000

    During 2019, American Midwest Mortgage Corporation's average interest rate for loans was 4.40%, while their most frequently originated rate bucket for loans was 4-5%, with 452 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 467 $67,025,000 $143,522 $5,843 4.37%
    $100,000 or less 230 $17,290,000 $75,174 $4,820 4.58%
    $200k-400k 185 $48,165,000 $260,351 $6,831 4.12%
    $400k-600k 10 $4,350,000 $435,000 $5,429 3.85%

    2019 saw American Midwest Mortgage Corporation place emphasis on $100k-200k loans with 467 originations, totaling $67,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 337 $35,885,000 $106,484 $5,376 4.45%
    $50k-75k 267 $38,715,000 $145,000 $5,981 4.37%
    $75k-100k 140 $26,750,000 $191,071 $6,165 4.31%
    $100k-150k 100 $21,640,000 $216,400 $5,903 4.25%
    $150k-250k 40 $11,210,000 $280,250 $6,149 4.11%
    $250k+ 8 $2,630,000 $328,750 $5,845 4.20%

    American Midwest Mortgage Corporation lent most frequently to those with incomes in the $50k or less range, with 337 originations. The second most popular income band? $50k-75k, with 267 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 182 $27,550,000 $151,374 $5,562 4.37%
    20-30% 136 $20,310,000 $149,338 $5,506 4.31%
    50-60% 70 $10,530,000 $150,429 $6,891 4.16%
    <20% 52 $7,720,000 $148,462 $4,834 4.29%
    41% 41 $6,385,000 $155,732 $6,015 4.41%
    43% 41 $5,635,000 $137,439 $5,896 4.41%
    44% 37 $4,955,000 $133,919 $5,988 4.34%
    40% 37 $5,545,000 $149,865 $5,656 4.41%
    39% 36 $5,930,000 $164,722 $5,997 4.50%
    38% 34 $5,500,000 $161,765 $5,978 4.58%
    37% 34 $5,280,000 $155,294 $5,347 4.53%
    36% 33 $5,125,000 $155,303 $5,677 4.52%
    42% 29 $4,815,000 $166,034 $5,973 4.48%
    45% 29 $5,045,000 $173,966 $5,903 4.37%
    46% 28 $4,950,000 $176,786 $5,757 4.21%
    49% 27 $4,795,000 $177,593 $5,790 4.30%
    48% 24 $3,700,000 $154,167 $6,364 4.54%
    47% 20 $2,890,000 $144,500 $6,559 4.28%
    >60% 2 $170,000 $85,000 $4,251 4.50%

    American Midwest Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 182 originations. The next most common DTI ratio? 20-30%, with 136 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 685 $107,655,000 $157,161 $5,659 4.33%
    Black 153 $20,335,000 $132,908 $6,107 4.60%
    Not provided 36 $6,620,000 $183,889 $6,821 4.12%
    Asian 16 $2,010,000 $125,625 $5,521 4.23%
    Native Hawaiian or Islander 1 $125,000 $125,000 $6,502 3.75%
    American Indian 1 $85,000 $85,000 $4,964 4.63%

    Approval Rates

    Total approvals of all applications
    96.67%

    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
    86.88%

    American Midwest Mortgage Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 892 $136,830,000 $153,397

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $1,070,000 $133,750
    Single Family (1-4 Units):Site-Built 884 $135,760,000 $153,575

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $600,000 $100,000 $4,755 4.63%
    40-60% 15 $2,095,000 $139,667 $4,314 4.21%
    60-80% 125 $19,825,000 $158,600 $4,874 4.27%
    80-100% 745 $114,175,000 $153,255 $5,968 4.39%
    Under 20% 1 $135,000 $135,000 $6,238 3.75%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    AMERISAVE MORTGAGE CORPORATION FHA mortgage Closing on a mortgage 1 1.9%
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 32 59.3%
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Closing on a mortgage 2 3.7%
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 1 1.9%
    AMERISAVE MORTGAGE CORPORATION VA mortgage Applying for a mortgage or refinancing an existing mortgage 8 14.8%
    AMERISAVE MORTGAGE CORPORATION Other type of mortgage Closing on a mortgage 2 3.7%
    AMERISAVE MORTGAGE CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 4 7.4%
    AMERISAVE MORTGAGE CORPORATION FHA mortgage Trouble during payment process 1 1.9%
    AMERISAVE MORTGAGE CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 5.6%