Midwest Bank Mortgage Rates, Fees & Info

Pierce, NE

LEI: 254900XRXNP494I3AE51

Tax ID: 47-0131280

Latest/2023 | 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
  • 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

    Midwest Bank is a smaller bank specializing in Home Purchase and Refi loans. Midwest Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lincoln, Las Vegas, Omaha, Los Angeles, and Beatrice among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Midwest Bank 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.

    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

    173

    Origination Dollar Volume (All Markets)

    $41,165,000

    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
    Outside of Metro Areas 135 $27,165,000 $201,222 $0 0.00%
    LINCOLN, NE (FHA|USDA|VA) 22 $9,040,000 $410,909 $0 0.00%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 8 $2,010,000 $251,250 $0 0.00%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 5 $1,645,000 $329,000 $0 0.00%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $1,230,000 $615,000 $0 0.00%
    Beatrice, NE (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Midwest Bank's top markets include Lincoln, Las Vegas, Omaha, Los Angeles, and Beatrice among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 173 $41,165,000 $237,948 $0 0.00%

    For 2023, Midwest Bank's most frequently originated type of loan was Conventional, with 173 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 94 $24,270,000 $258,191 $0 0.00%
    Refi 49 $12,485,000 $254,796 $0 0.00%
    Home Improvement 24 $3,100,000 $129,167 $0 0.00%
    Other 6 $1,310,000 $218,333 $0 0.00%

    For 2023, Midwest Bank's most frequently cited loan purpose was Home Purchase, with 94 originations. The 2nd most popular reason was Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 173 $41,165,000 $237,948 $0 0.00%

    For 2023, Midwest Bank's most frequently cited loan duration was Other, with 173 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 63 $3,685,000 $58,492 $0 0.00%
    $100k-200k 51 $7,655,000 $150,098 $0 0.00%
    $200k-400k 36 $9,700,000 $269,444 $0 0.00%
    $600k-1MM 12 $9,230,000 $769,167 $0 0.00%
    $400k-600k 7 $3,245,000 $463,571 $0 0.00%
    $1MM+ 4 $7,650,000 $1,912,500 $0 0.00%

    2023 saw Midwest Bank place emphasis on $100,000 or less loans with 63 originations, totaling $3,685,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 27 $4,045,000 $149,815 $0 0.00%
    $100k-150k 16 $2,660,000 $166,250 $0 0.00%
    $250k+ 16 $6,210,000 $388,125 $0 0.00%
    $150k-250k 15 $3,895,000 $259,667 $0 0.00%
    $50k or less 12 $890,000 $74,167 $0 0.00%
    $75k-100k 12 $2,350,000 $195,833 $0 0.00%

    Midwest Bank lent most frequently to those with incomes in the $50k-75k range, with 27 originations. The second most popular income band? $100k-150k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 173 $41,165,000 $237,948 $0 0.00%

    Midwest Bank lent most frequently to those with DTI ratios of Exempt%, with 173 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 103 $22,285,000 $216,359 $0 0.00%
    Not applicable 67 $18,355,000 $273,955 $0 0.00%
    Not provided 2 $350,000 $175,000 $0 0.00%
    Asian 1 $175,000 $175,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.59%

    Midwest Bank 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
    87.28%

    Midwest Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 173 $41,165,000 $237,948

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    173 $41,165,000 $237,948