American Midwest Mortgage Corporation Rates, Fees & Info

PARMA HTS, OH

LEI: 254900MJC4429E0HGL47

Tax ID: 34-1180767

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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. 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 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 an above average pick rate when compared to similar lenders. American Midwest Mortgage Corporation is typically a low 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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    Originations

    411

    Origination Dollar Volume (All Markets)

    $73,915,000

    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) 240 $42,730,000 $178,042 $6,585 5.34%
    AKRON, OH (FHA|USDA|VA) 68 $12,430,000 $182,794 $5,959 5.52%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 41 $4,265,000 $104,024 $5,504 5.69%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 12 $2,700,000 $225,000 $7,440 4.86%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 13 $2,425,000 $186,538 $5,741 5.90%
    COLUMBUS, OH (FHA|USDA|VA) 4 $1,570,000 $392,500 $9,157 5.72%
    Ashtabula, OH (FHA|USDA|VA) 7 $1,235,000 $176,429 $8,185 5.86%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $930,000 $465,000 $8,311 4.50%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $910,000 $455,000 $8,056 5.44%
    Norwalk, OH (FHA|USDA|VA) 5 $905,000 $181,000 $6,773 4.83%
    TOLEDO, OH (FHA|USDA|VA) 1 $545,000 $545,000 $5,246 6.38%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $545,000 $545,000 $18,778 5.00%
    Sandusky, OH (FHA|USDA|VA) 2 $460,000 $230,000 $5,866 4.63%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $335,000 $335,000 $5,341 3.50%
    New Philadelphia-Dover, OH (FHA|USDA|VA) 2 $310,000 $155,000 $5,646 5.25%
    Ashland, OH (FHA|USDA|VA) 2 $240,000 $120,000 $5,699 5.31%
    Wooster, OH (FHA|USDA|VA) 1 $225,000 $225,000 $4,249 3.38%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $225,000 $225,000 $6,160 6.75%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $225,000 $225,000 $8,405 3.75%
    SPRINGFIELD, OH (FHA|USDA|VA) 1 $195,000 $195,000 $9,967 6.88%
    LIMA, OH (FHA|USDA|VA) 1 $145,000 $145,000 $9,361 7.25%
    Mount Vernon, OH (FHA|USDA|VA) 1 $135,000 $135,000 $3,999 5.38%
    MANSFIELD, OH (FHA|USDA|VA) 1 $115,000 $115,000 $5,222 5.13%
    Outside of Metro Areas 1 $115,000 $115,000 $3,907 5.38%
    American Midwest Mortgage Corporation's top markets include Cleveland, Akron, Youngstown, Dayton, and Canton among others.

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

    Guardian Savings Bank, A Federal Savings Bank
    Similarity Rank: 94
    Community Star Credit Union
    Similarity Rank: 249
    CARDINAL CREDIT UNION, INC.
    Similarity Rank: 351
    First Federal Savings and Loan Association of Lorain
    Similarity Rank: 396
    Greenville Federal
    Similarity Rank: 420
    GENERAL ELECTRIC CREDIT UNION
    Similarity Rank: 450
    Firefighters & Company FCU
    Similarity Rank: 480
    CANTON SCHOOL EMPLOYEES
    Similarity Rank: 504
    1st National Bank
    Similarity Rank: 660
    KEMBA CREDIT UNION, INC.
    Similarity Rank: 880

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 250 $48,590,000 $194,360 $5,534 5.41%
    FHA 142 $21,410,000 $150,775 $7,922 5.44%
    VA 16 $3,330,000 $208,125 $7,303 5.09%
    USDA 3 $585,000 $195,000 $8,512 5.17%

    For 2022, American Midwest Mortgage Corporation's most frequently originated type of loan was Conventional, with 250 originations. Their 2nd most popular type was FHA, with 142 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 371 $66,425,000 $179,043 $6,496 5.49%
    Refi 29 $5,325,000 $183,621 $6,137 4.48%
    Cash Out Refi 11 $2,165,000 $196,818 $5,707 4.95%

    For 2022, American Midwest Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 371 originations. The 2nd most popular reason was Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 392 $70,350,000 $179,464 $6,478 5.45%
    15 Year 16 $3,030,000 $189,375 $6,002 4.27%
    20 Year 2 $390,000 $195,000 $4,356 5.63%
    Other 1 $145,000 $145,000 $6,681 5.50%

    For 2022, American Midwest Mortgage Corporation's most frequently cited loan duration was 30 Year, with 392 originations. The 2nd most popular length was 15 Year, with 16 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 143 $27,745,000 $194,021
    $2k-3k 121 $15,715,000 $129,876
    $3k-4k 82 $12,630,000 $154,024
    $4k-5k 44 $10,010,000 $227,500
    $5k+ 19 $7,625,000 $401,316
    $<1k 2 $190,000 $95,000

    American Midwest Mortgage Corporation's average total fees were $6,478, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 143 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 171 $29,055,000 $169,912
    6-7% 82 $13,940,000 $170,000
    4-5% 72 $15,880,000 $220,556
    3-4% 60 $10,820,000 $180,333
    7-8% 23 $3,525,000 $153,261
    2.5-3% 3 $695,000 $231,667

    During 2022, American Midwest Mortgage Corporation's average interest rate for loans was 5.45%, while their most frequently originated rate bucket for loans was 5-6%, with 171 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 217 $31,925,000 $147,120 $6,259 5.36%
    $200k-400k 101 $26,845,000 $265,792 $7,474 5.37%
    $100,000 or less 76 $6,020,000 $79,211 $5,198 5.70%
    $400k-600k 14 $7,010,000 $500,714 $8,803 5.01%
    $600k-1MM 3 $2,115,000 $705,000 $6,471 4.83%

    2022 saw American Midwest Mortgage Corporation place emphasis on $100k-200k loans with 217 originations, totaling $31,925,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 125 $19,855,000 $158,840 $6,452 5.50%
    $50k or less 121 $14,305,000 $118,223 $6,034 5.29%
    $75k-100k 74 $15,150,000 $204,730 $6,718 5.39%
    $100k-150k 55 $12,855,000 $233,727 $7,228 5.43%
    $150k-250k 27 $7,895,000 $292,407 $5,812 5.48%
    $250k+ 9 $3,855,000 $428,333 $6,951 5.49%

    American Midwest Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 125 originations. The second most popular income band? $50k or less, with 121 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 78 $14,600,000 $187,179 $6,598 5.54%
    20-30% 76 $13,730,000 $180,658 $5,575 5.40%
    50-60% 33 $5,635,000 $170,758 $8,381 5.14%
    40% 28 $5,500,000 $196,429 $6,532 5.63%
    44% 19 $3,385,000 $178,158 $6,779 5.24%
    36% 18 $2,410,000 $133,889 $5,874 5.63%
    48% 16 $3,050,000 $190,625 $6,380 5.84%
    41% 16 $2,500,000 $156,250 $5,956 5.24%
    <20% 15 $2,785,000 $185,667 $5,251 5.27%
    37% 15 $2,655,000 $177,000 $5,747 5.45%
    45% 15 $2,095,000 $139,667 $5,565 5.09%
    49% 14 $2,460,000 $175,714 $6,876 5.61%
    43% 13 $2,385,000 $183,462 $6,990 5.25%
    39% 13 $2,555,000 $196,538 $6,430 5.18%
    46% 12 $1,920,000 $160,000 $6,481 5.70%
    38% 11 $1,665,000 $151,364 $5,855 5.14%
    47% 10 $1,960,000 $196,000 $8,410 5.61%
    42% 9 $2,625,000 $291,667 $8,387 4.76%

    American Midwest Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 78 originations. The next most common DTI ratio? 20-30%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 322 $60,540,000 $188,012 $6,385 5.43%
    Black 55 $7,665,000 $139,364 $6,841 5.36%
    Not provided 20 $3,790,000 $189,500 $7,101 4.97%
    Asian 10 $1,320,000 $132,000 $5,332 5.83%
    Native Hawaiian or Islander 3 $365,000 $121,667 $6,087 4.63%
    Other Asian 1 $235,000 $235,000 $4,681 6.38%

    Approval Rates

    Total approvals of all applications
    98.04%

    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
    91.73%

    American Midwest Mortgage Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 411 $73,915,000 $179,842

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    411 $73,915,000 $179,842

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $720,000 $120,000 $4,629 5.27%
    40-60% 15 $2,575,000 $171,667 $5,111 4.85%
    60-80% 85 $16,805,000 $197,706 $5,781 5.43%
    80-100% 299 $52,455,000 $175,435 $6,656 5.44%
    Over 100% 6 $1,360,000 $226,667 $10,772 4.85%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 66.7%
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 1 33.3%