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, Canton, and Dayton among others. We have data for 28 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% | 4/21/24 |
| 30 Year Conventional Refi | 6.81% | 4/21/24 |
| 30 Year Cash-out Refi | 6.95% | 4/21/24 |
| 30 Year FHA Purchase | 7.90% | 4/21/24 |
| 30 Year FHA Refi | 7.44% | 4/21/24 |
| 30 Year VA Purchase | 6.62% | 4/21/24 |
| 30 Year VA Refi | 6.88% | 4/21/24 |
| 30 Year USDA Purchase | 7.14% | 4/21/24 |
| 15 Year Conventional Purchase | 6.55% | 4/21/24 |
| 15 Year Conventional Refi | 6.42% | 4/21/24 |
| 15 Year Cash-out Refi | 6.42% | 4/21/24 |
| 15 Year FHA Purchase | 7.30% | 4/21/24 |
| 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
1,037Origination 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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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) | 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% |
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 2021, American Midwest Mortgage Corporation's most frequently originated type of loan was Conventional, with 632 originations. Their 2nd most popular type was FHA, with 315 originations.
Loan Reason
For 2021, American Midwest Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 756 originations. The 2nd most popular reason was Refi, with 241 originations.
Loan Duration/Length
For 2021, American Midwest Mortgage Corporation's most frequently cited loan duration was 30 Year, with 927 originations. The 2nd most popular length was 15 Year, with 79 originations.
Origination Fees/Closing Costs
American Midwest Mortgage Corporation's average total fees were $5,679, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.19%, while their most frequently originated rate bucket for loans was 3-4%, with 480 originations.
Loan Sizing
2021 saw American Midwest Mortgage Corporation place emphasis on $100k-200k loans with 556 originations, totaling $80,130,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications96.50%
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 origination91.42%
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 |
LTV Distribution
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% |