American Midwest Mortgage Corporation Rates, Fees & Info
PARMA HTS, OHLEI: 254900MJC4429E0HGL47
Tax ID: 34-1180767
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Mortgage Data
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, Dayton, and Canton among others. We have data for 29 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.89% | 4/18/24 |
| 30 Year Conventional Refi | 6.81% | 4/18/24 |
| 30 Year Cash-out Refi | 6.95% | 4/18/24 |
| 30 Year FHA Purchase | 7.90% | 4/18/24 |
| 30 Year FHA Refi | 7.44% | 4/18/24 |
| 30 Year VA Purchase | 6.62% | 4/18/24 |
| 30 Year VA Refi | 6.88% | 4/18/24 |
| 30 Year USDA Purchase | 7.14% | 4/18/24 |
| 15 Year Conventional Purchase | 6.55% | 4/18/24 |
| 15 Year Conventional Refi | 6.42% | 4/18/24 |
| 15 Year Cash-out Refi | 6.42% | 4/18/24 |
| 15 Year FHA Purchase | 7.30% | 4/18/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,197Origination Dollar Volume (All Markets)
$203,065,000Awards
American Midwest Mortgage Corporation - 2020
American Midwest Mortgage Corporation is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 789 | $131,015,000 | $166,052 | $5,368 | 3.13% |
| AKRON, OH (FHA|USDA|VA) | 165 | $28,915,000 | $175,242 | $4,909 | 3.00% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 61 | $7,065,000 | $115,820 | $4,747 | 3.22% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 33 | $6,745,000 | $204,394 | $5,135 | 2.95% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 31 | $5,655,000 | $182,419 | $5,235 | 3.07% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 14 | $4,010,000 | $286,429 | $4,082 | 2.71% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 16 | $3,550,000 | $221,875 | $5,233 | 3.11% |
| COLUMBUS, OH (FHA|USDA|VA) | 12 | $2,660,000 | $221,667 | $5,026 | 3.15% |
| New Philadelphia-Dover, OH (FHA|USDA|VA) | 14 | $2,650,000 | $189,286 | $5,326 | 2.97% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 9 | $2,365,000 | $262,778 | $4,057 | 3.06% |
| Ashtabula, OH (FHA|USDA|VA) | 14 | $1,870,000 | $133,571 | $5,850 | 3.25% |
| Sandusky, OH (FHA|USDA|VA) | 9 | $1,745,000 | $193,889 | $4,875 | 3.22% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 4 | $800,000 | $200,000 | $3,180 | 2.59% |
| Wooster, OH (FHA|USDA|VA) | 5 | $635,000 | $127,000 | $4,264 | 2.95% |
| Ashland, OH (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $7,831 | 3.04% |
| MANSFIELD, OH (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $5,488 | 3.63% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $5,019 | 3.19% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,831 | 2.75% |
| Wilmington, OH (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,135 | 2.75% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $5,909 | 2.81% |
| Norwalk, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,359 | 3.13% |
| Salem, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,470 | 3.13% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,996 | 2.50% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,804 | 2.88% |
| Athens, OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,999 | 3.25% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,011 | 3.25% |
| Fremont, OH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,395 | 2.75% |
| Sidney, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,228 | 3.75% |
| Outside of Metro Areas | 1 | $85,000 | $85,000 | $4,115 | 3.25% |
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.
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Product Mix
For 2020, American Midwest Mortgage Corporation's most frequently originated type of loan was Conventional, with 741 originations. Their 2nd most popular type was FHA, with 342 originations.
Loan Reason
For 2020, American Midwest Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 804 originations. The 2nd most popular reason was Refi, with 386 originations.
Loan Duration/Length
For 2020, American Midwest Mortgage Corporation's most frequently cited loan duration was 30 Year, with 1,027 originations. The 2nd most popular length was 15 Year, with 102 originations.
Origination Fees/Closing Costs
American Midwest Mortgage Corporation's average total fees were $5,409, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 771 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 552 | $96,400,000 | $174,638 |
| 3-4% | 401 | $66,295,000 | $165,324 |
| <2.5% | 153 | $29,235,000 | $191,078 |
| 4-5% | 89 | $10,695,000 | $120,169 |
| 5-6% | 2 | $440,000 | $220,000 |
During 2020, American Midwest Mortgage Corporation's average interest rate for loans was 3.16%, while their most frequently originated rate bucket for loans was 2.5-3%, with 552 originations.
Loan Sizing
2020 saw American Midwest Mortgage Corporation place emphasis on $100k-200k loans with 643 originations, totaling $92,355,000 in origination value.
Applicant Income
American Midwest Mortgage Corporation lent most frequently to those with incomes in the $50k or less range, with 381 originations. The second most popular income band? $50k-75k, with 350 originations.
Applicant Debt to Income Ratio
American Midwest Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 257 originations. The next most common DTI ratio? 30-36%, with 242 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.13%
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 origination90.89%
American Midwest Mortgage Corporation has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,197 | $203,065,000 | $169,645 |
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 | 1,189 | $201,995,000 | $169,886 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| AMERICAN SECURITY MORTGAGE CORPORATION | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| AMERICAN SECURITY MORTGAGE CORPORATION | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |