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
  • Complaints
  • 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, Los Angeles, Omaha, Kansas City, and Grand Island among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Midwest Bank has an 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

    159

    Origination Dollar Volume (All Markets)

    $38,715,000

    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 122 $26,600,000 $218,033 $0 0.00%
    LINCOLN, NE (FHA|USDA|VA) 31 $9,885,000 $318,871 $0 0.00%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $1,085,000 $1,085,000 $0 0.00%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
    GRAND ISLAND, NE (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
    Beatrice, NE (FHA|USDA|VA) 2 $90,000 $45,000 $0 0.00%
    Midwest Bank's top markets include Lincoln, Los Angeles, Omaha, Kansas City, and Grand Island among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 159 $38,715,000 $243,491 $0 0.00%

    For 2022, Midwest Bank's most frequently originated type of loan was Conventional, with 159 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 92 $25,130,000 $273,152 $0 0.00%
    Refi 50 $11,610,000 $232,200 $0 0.00%
    Home Improvement 11 $895,000 $81,364 $0 0.00%
    Other 6 $1,080,000 $180,000 $0 0.00%

    For 2022, Midwest Bank's most frequently cited loan purpose was Home Purchase, with 92 originations. The 2nd most popular reason was Refi, with 50 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 159 $38,715,000 $243,491 $0 0.00%

    For 2022, Midwest Bank's most frequently cited loan duration was Other, with 159 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 51 $2,765,000 $54,216 $0 0.00%
    $100k-200k 45 $6,665,000 $148,111 $0 0.00%
    $200k-400k 40 $11,330,000 $283,250 $0 0.00%
    $400k-600k 13 $6,625,000 $509,615 $0 0.00%
    $600k-1MM 6 $4,280,000 $713,333 $0 0.00%
    $1MM+ 4 $7,050,000 $1,762,500 $0 0.00%

    2022 saw Midwest Bank place emphasis on $100,000 or less loans with 51 originations, totaling $2,765,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 28 $5,230,000 $186,786 $0 0.00%
    $50k-75k 22 $3,420,000 $155,455 $0 0.00%
    $75k-100k 20 $5,020,000 $251,000 $0 0.00%
    $150k-250k 12 $4,300,000 $358,333 $0 0.00%
    $50k or less 12 $1,130,000 $94,167 $0 0.00%
    $250k+ 9 $5,125,000 $569,444 $0 0.00%

    Midwest Bank lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $50k-75k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 159 $38,715,000 $243,491 $0 0.00%

    Midwest Bank lent most frequently to those with DTI ratios of Exempt%, with 159 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 93 $21,955,000 $236,075 $0 0.00%
    Not applicable 52 $14,010,000 $269,423 $0 0.00%
    Not provided 10 $1,890,000 $189,000 $0 0.00%
    Asian 4 $860,000 $215,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.74%

    Midwest Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.10%

    Midwest Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 159 $38,715,000 $243,491

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    159 $38,715,000 $243,491

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Midwest Loan Services, Inc. Conventional home mortgage Struggling to pay mortgage 1 100.0%