Midwest Bank Mortgage Rates, Fees & Info
Monmouth, ILLEI: 254900YK0G0T2WULHK84
Tax ID: 37-0435187
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Midwest Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Midwest Bank has a high proportion of conventional loans. Their top markets by origination volume include: Davenport, Galesburg, Peoria, Des Moines, and Burlington among others. We have data for 14 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 an above average pick rate when compared to similar lenders.
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Originations
181Origination Dollar Volume (All Markets)
$23,095,000Top 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 |
|---|---|---|---|---|---|
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 62 | $10,630,000 | $171,452 | $0 | 0.00% |
| Galesburg, IL (FHA|USDA|VA) | 54 | $3,970,000 | $73,519 | $0 | 0.00% |
| Outside of Metro Areas | 32 | $2,980,000 | $93,125 | $0 | 0.00% |
| PEORIA, IL (FHA|USDA|VA) | 14 | $2,400,000 | $171,429 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $1,335,000 | $1,335,000 | $0 | 0.00% |
| Burlington, IA-IL (FHA|USDA|VA) | 9 | $515,000 | $57,222 | $0 | 0.00% |
| Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $0 | 0.00% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Kirksville, MO (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Maryville, MO (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| Macomb, IL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 181 | $23,095,000 | $127,597 | $0 | 0.00% |
For 2024, Midwest Bank's most frequently originated type of loan was Conventional, with 181 originations.
Loan Reason
For 2024, Midwest Bank's most frequently cited loan purpose was Home Purchase, with 99 originations. The 2nd most popular reason was Cash Out Refi, with 43 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 181 | $23,095,000 | $127,597 | $0 | 0.00% |
For 2024, Midwest Bank's most frequently cited loan duration was Other, with 181 originations.
Loan Sizing
2024 saw Midwest Bank place emphasis on $100,000 or less loans with 104 originations, totaling $5,610,000 in origination value.
Applicant Income
Midwest Bank lent most frequently to those with incomes in the $50k or less range, with 45 originations. The second most popular income band? $50k-75k, with 30 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 181 | $23,095,000 | $127,597 | $0 | 0.00% |
Midwest Bank lent most frequently to those with DTI ratios of Exempt%, with 181 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.87%
Midwest Bank has an average approval rate.
Pick Rate
Approvals leading to origination97.79%
Midwest Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 181 | $23,095,000 | $127,597 |