Midwest Bank Mortgage Rates, Fees & Info

Monmouth, IL

LEI: 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

181

Origination Dollar Volume (All Markets)

$23,095,000

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
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%
Midwest Bank's top markets include Davenport, Galesburg, Peoria, Des Moines, and Burlington among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 99 $11,055,000 $111,667 $0 0.00%
    Cash Out Refi 43 $5,095,000 $118,488 $0 0.00%
    Refi 29 $6,165,000 $212,586 $0 0.00%
    Home Improvement 10 $780,000 $78,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 104 $5,610,000 $53,942 $0 0.00%
    $100k-200k 56 $7,370,000 $131,607 $0 0.00%
    $200k-400k 14 $3,450,000 $246,429 $0 0.00%
    $400k-600k 3 $1,395,000 $465,000 $0 0.00%
    $1MM+ 2 $3,790,000 $1,895,000 $0 0.00%
    $600k-1MM 2 $1,480,000 $740,000 $0 0.00%

    2024 saw Midwest Bank place emphasis on $100,000 or less loans with 104 originations, totaling $5,610,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 45 $2,895,000 $64,333 $0 0.00%
    $50k-75k 30 $2,500,000 $83,333 $0 0.00%
    $75k-100k 27 $3,435,000 $127,222 $0 0.00%
    $100k-150k 24 $2,640,000 $110,000 $0 0.00%
    $150k-250k 24 $3,970,000 $165,417 $0 0.00%
    $250k+ 12 $4,550,000 $379,167 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 140 $18,220,000 $130,143 $0 0.00%
    Not applicable 18 $2,990,000 $166,111 $0 0.00%
    Black 16 $1,250,000 $78,125 $0 0.00%
    Asian 4 $400,000 $100,000 $0 0.00%
    Native Hawaiian or Islander 2 $130,000 $65,000 $0 0.00%
    American Indian 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.87%

    Midwest Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.79%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    181 $23,095,000 $127,597