Midland Mortgage Corporation Rates, Fees & Info

COLUMBIA, SC

LEI: 5493008B783OSGFDLN78

Tax ID: 57-0645910

5 stars - out of 5 stars, based on 39 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Midland Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. Midland 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: Charleston, Columbia, Washington, Gaffney, and Spartanburg among others. We have data for 87 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Midland Mortgage Corporation 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. Midland Mortgage Corporation is typically an average 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.66% 10/3/22
    30 Year Conventional Refi 6.53% 10/3/22
    30 Year Cash-out Refi 6.65% 10/3/22
    30 Year FHA Purchase 7.47% 10/3/22
    30 Year FHA Refi 12.08% 10/3/22
    30 Year VA Purchase 6.37% 10/3/22
    30 Year VA Refi 6.14% 10/3/22
    30 Year USDA Purchase 6.85% 10/3/22
    30 Year USDA Refi 6.16% 10/3/22
    15 Year Conventional Purchase 6.55% 10/3/22
    15 Year Conventional Refi 6.23% 10/3/22
    15 Year Cash-out Refi 6.23% 10/3/22
    15 Year FHA Refi 7.31% 10/3/22
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    1,557

    Origination Dollar Volume (All Markets)

    $393,415,000
    Show all (17) awards

    Relative Rate

    Midland Mortgage Corporation's average 30 year fixed mortgage rate was 3.09%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.06%.

    Relative Fees (Closing Costs)

    Midland Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $4,956.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 715 $214,875,000 $300,524 $5,374 2.98%
    COLUMBIA, SC (FHA|USDA|VA) 335 $71,705,000 $214,045 $4,321 3.09%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 52 $16,410,000 $315,577 $4,505 2.69%
    Gaffney, SC (FHA|USDA|VA) 77 $13,675,000 $177,597 $3,224 3.18%
    Outside of Metro Areas 67 $13,025,000 $194,403 $3,569 2.97%
    SPARTANBURG, SC (FHA|USDA|VA) 40 $8,180,000 $204,500 $3,721 3.08%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 17 $4,325,000 $254,412 $4,779 2.98%
    Orangeburg, SC (FHA|USDA|VA) 18 $4,120,000 $228,889 $4,051 3.16%
    LYNCHBURG, VA (FHA|USDA|VA) 20 $3,810,000 $190,500 $3,151 3.01%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 13 $3,785,000 $291,154 $4,620 3.04%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 6 $2,130,000 $355,000 $4,002 2.71%
    RALEIGH-CARY, NC (FHA|USDA|VA) 7 $1,825,000 $260,714 $6,360 3.11%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 9 $1,785,000 $198,333 $6,157 3.36%
    ROANOKE, VA (FHA|USDA|VA) 11 $1,705,000 $155,000 $3,847 3.05%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 7 $1,595,000 $227,857 $5,982 3.48%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 8 $1,520,000 $190,000 $4,123 3.33%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 6 $1,420,000 $236,667 $5,808 3.29%
    SUMTER, SC (FHA|USDA|VA) 9 $1,355,000 $150,556 $5,207 3.07%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 5 $1,295,000 $259,000 $3,552 3.48%
    Waycross, GA (FHA|USDA|VA) 7 $1,205,000 $172,143 $4,537 2.66%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 5 $1,075,000 $215,000 $7,410 3.28%
    Union, SC (FHA|USDA|VA) 7 $1,055,000 $150,714 $2,826 3.48%
    FLORENCE, SC (FHA|USDA|VA) 5 $985,000 $197,000 $7,012 3.38%
    MOBILE, AL (FHA|USDA|VA) 6 $930,000 $155,000 $5,589 3.38%
    ASHEVILLE, NC (FHA|USDA|VA) 3 $885,000 $295,000 $5,919 3.13%
    Forest City, NC (FHA|USDA|VA) 3 $865,000 $288,333 $5,866 3.46%
    RICHMOND, VA (FHA|USDA|VA) 4 $850,000 $212,500 $6,602 3.41%
    Newberry, SC (FHA|USDA|VA) 5 $835,000 $167,000 $5,207 2.78%
    COLUMBUS, OH (FHA|USDA|VA) 5 $825,000 $165,000 $8,043 3.28%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 4 $600,000 $150,000 $7,015 3.44%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $600,000 $300,000 $1,734 2.94%
    MONTGOMERY, AL (FHA|USDA|VA) 3 $545,000 $181,667 $6,774 3.83%
    KNOXVILLE, TN (FHA|USDA|VA) 3 $525,000 $175,000 $3,802 3.46%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $510,000 $255,000 $8,704 3.56%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 3 $485,000 $161,667 $8,516 3.25%
    WINSTON-SALEM, NC (FHA|USDA|VA) 2 $470,000 $235,000 $7,072 3.38%
    Statesboro, GA (FHA|USDA|VA) 2 $450,000 $225,000 $3,118 3.06%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 4 $440,000 $110,000 $3,850 3.47%
    JACKSONVILLE, NC (FHA|USDA|VA) 2 $420,000 $210,000 $4,743 3.06%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 2 $410,000 $205,000 $6,457 3.31%
    MONROE, LA (FHA|USDA|VA) 2 $400,000 $200,000 $6,292 3.81%
    BRUNSWICK, GA (FHA|USDA|VA) 1 $385,000 $385,000 $660 3.25%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $360,000 $180,000 $6,780 2.63%
    SAVANNAH, GA (FHA|USDA|VA) 2 $360,000 $180,000 $5,196 3.00%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $350,000 $175,000 $6,917 3.50%
    Georgetown, SC (FHA|USDA|VA) 2 $320,000 $160,000 $3,666 3.19%
    Brevard, NC (FHA|USDA|VA) 1 $305,000 $305,000 $6,111 3.63%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $300,000 $150,000 $4,837 3.75%
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 2 $300,000 $150,000 $4,191 3.13%
    HINESVILLE, GA (FHA|USDA|VA) 1 $275,000 $275,000 $4,587 2.75%
    NEW BERN, NC (FHA|USDA|VA) 1 $265,000 $265,000 $11,149 3.38%
    Jefferson, GA (FHA|USDA|VA) 1 $265,000 $265,000 $7,674 3.00%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 2 $260,000 $130,000 $4,400 3.13%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $255,000 $255,000 $12,303 3.25%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $255,000 $255,000 $9,616 3.75%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $255,000 $255,000 $8,749 4.00%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $245,000 $245,000 $12,202 3.25%
    Morehead City, NC (FHA|USDA|VA) 1 $245,000 $245,000 $4,672 2.88%
    ROME, GA (FHA|USDA|VA) 1 $225,000 $225,000 $5,307 3.25%
    New Philadelphia-Dover, OH (FHA|USDA|VA) 1 $215,000 $215,000 $4,233 3.75%
    St. Marys, GA (FHA|USDA|VA) 1 $205,000 $205,000 $8,529 2.75%
    Boone, NC (FHA|USDA|VA) 1 $195,000 $195,000 $5,611 3.25%
    HAMMOND, LA (FHA|USDA|VA) 2 $190,000 $95,000 $3,014 3.19%
    BATON ROUGE, LA (FHA|USDA|VA) 1 $185,000 $185,000 $4,853 3.75%
    Danville, VA (FHA|USDA|VA) 1 $185,000 $185,000 $6,344 3.25%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $175,000 $175,000 $6,566 3.63%
    Vidalia, GA (FHA|USDA|VA) 1 $175,000 $175,000 $3,085 3.25%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $175,000 $175,000 $2,680 2.75%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $175,000 $175,000 $7,787 2.75%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $175,000 $175,000 $6,595 3.00%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $165,000 $165,000 $3,763 3.75%
    Marietta, OH (FHA|USDA|VA) 1 $165,000 $165,000 $6,168 3.50%
    Jesup, GA (FHA|USDA|VA) 1 $165,000 $165,000 $2,840 2.88%
    BURLINGTON, NC (FHA|USDA|VA) 1 $165,000 $165,000 $6,190 3.25%
    FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $155,000 $155,000 $1,644 3.63%
    Athens, TN (FHA|USDA|VA) 1 $145,000 $145,000 $5,464 3.50%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $145,000 $145,000 $6,225 3.25%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $145,000 $145,000 $4,279 3.25%
    Greenville, OH (FHA|USDA|VA) 1 $135,000 $135,000 $3,635 3.25%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $135,000 $135,000 $2,364 3.25%
    Dublin, GA (FHA|USDA|VA) 1 $135,000 $135,000 $3,952 3.13%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $125,000 $125,000 $1,362 3.75%
    Madison, IN (FHA|USDA|VA) 1 $115,000 $115,000 $5,064 2.75%
    Ozark, AL (FHA|USDA|VA) 1 $95,000 $95,000 $3,190 3.88%
    Troy, AL (FHA|USDA|VA) 1 $95,000 $95,000 $5,000 3.50%
    AKRON, OH (FHA|USDA|VA) 1 $75,000 $75,000 $2,974 3.25%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $75,000 $75,000 $2,510 3.13%

    Midland Mortgage Corporation's top markets include Charleston, Columbia, Washington, Gaffney, and Spartanburg among others.

    Similar Lenders

    We use machine learning to identify the top lenders compared against MIDLAND MORTGAGE CORPORATION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    CENTRAL VIRGINIA
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    FREEDOM FIRST
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    S. C. STATE FEDERAL CREDIT UNION
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    CAROLINA FOOTHILLS
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    Cedar Point Federal Credit Union
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    LOANFLIGHT LENDING, LLC
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 910 $237,370,000 $260,846 $3,527 3.05%
    FHA 415 $91,325,000 $220,060 $6,751 3.13%
    VA 174 $53,800,000 $309,195 $7,409 2.85%
    USDA 58 $10,920,000 $188,276 $3,888 3.02%

    For 2021, Midland Mortgage Corporation's most frequently originated type of loan was Conventional, with 910 originations. Their 2nd most popular type was FHA, with 415 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,034 $270,100,000 $261,219 $5,133 3.08%
    Refi 349 $81,485,000 $233,481 $3,682 2.89%
    Cash Out Refi 172 $41,060,000 $238,721 $5,354 3.15%
    Home Improvement 1 $285,000 $285,000 $8,289 2.88%
    Other 1 $485,000 $485,000 $2,941 3.38%

    For 2021, Midland Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 1,034 originations. The 2nd most popular reason was Refi, with 349 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,419 $365,005,000 $257,227 $4,956 3.09%
    15 Year 89 $18,365,000 $206,348 $3,537 2.57%
    20 Year 25 $6,015,000 $240,600 $3,700 2.93%
    10 Year 13 $1,445,000 $111,154 $1,957 1.44%
    Other 6 $1,200,000 $200,000 $2,987 3.04%
    30+ year 5 $1,385,000 $277,000 $8,305 4.45%

    For 2021, Midland Mortgage Corporation's most frequently cited loan duration was 30 Year, with 1,419 originations. The 2nd most popular length was 15 Year, with 89 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 691 $166,665,000 $241,194
    $<1k 475 $112,555,000 $236,958
    $3k-4k 136 $36,140,000 $265,735
    $2k-3k 132 $28,280,000 $214,242
    $5k+ 68 $31,150,000 $458,088
    $4k-5k 55 $18,625,000 $338,636

    Midland Mortgage Corporation's average total fees were $4,956, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 691 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 705 $172,665,000 $244,915
    2.5-3% 614 $158,070,000 $257,443
    <2.5% 200 $54,180,000 $270,900
    4-5% 38 $8,500,000 $223,684

    During 2021, Midland Mortgage Corporation's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 3-4%, with 705 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 783 $215,865,000 $275,690 $5,343 3.05%
    $100k-200k 504 $79,340,000 $157,421 $3,734 3.10%
    $400k-600k 161 $77,395,000 $480,714 $6,029 2.96%
    $100,000 or less 92 $7,320,000 $79,565 $2,838 2.92%
    $600k-1MM 15 $10,705,000 $713,667 $10,740 2.97%
    $1MM+ 2 $2,790,000 $1,395,000 $32,310 3.31%

    2021 saw Midland Mortgage Corporation place emphasis on $200k-400k loans with 783 originations, totaling $215,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 461 $102,705,000 $222,787 $4,668 3.07%
    $50k or less 308 $52,090,000 $169,123 $4,101 2.99%
    $75k-100k 295 $76,335,000 $258,763 $5,318 3.05%
    $100k-150k 282 $84,250,000 $298,759 $5,231 3.10%
    $150k-250k 148 $54,860,000 $370,676 $5,081 3.02%
    $250k+ 49 $19,715,000 $402,347 $5,197 3.10%

    Midland Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 461 originations. The second most popular income band? $50k or less, with 308 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 327 $78,575,000 $240,291 $4,637 3.09%
    30-36% 267 $68,855,000 $257,884 $4,564 3.02%
    <20% 123 $26,495,000 $215,407 $3,489 2.82%
    50-60% 112 $30,160,000 $269,286 $7,224 2.93%
    41% 69 $16,915,000 $245,145 $4,937 3.25%
    42% 63 $16,975,000 $269,444 $5,574 3.10%
    43% 61 $15,805,000 $259,098 $5,253 3.14%
    44% 58 $14,750,000 $254,310 $5,100 3.08%
    39% 57 $13,735,000 $240,965 $3,934 3.15%
    36% 57 $15,505,000 $272,018 $4,867 3.25%
    37% 55 $13,805,000 $251,000 $5,030 3.04%
    40% 52 $13,420,000 $258,077 $3,801 3.09%
    38% 50 $11,590,000 $231,800 $5,092 3.01%
    45% 45 $11,655,000 $259,000 $4,669 3.12%
    46% 38 $11,860,000 $312,105 $4,910 3.02%
    49% 35 $10,015,000 $286,143 $4,559 3.10%
    47% 33 $9,125,000 $276,515 $5,759 3.08%
    48% 26 $6,350,000 $244,231 $4,748 3.02%
    >60% 4 $1,260,000 $315,000 $8,647 2.97%

    Midland Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 327 originations. The next most common DTI ratio? 30-36%, with 267 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,128 $292,460,000 $259,273 $4,555 3.03%
    Black 263 $59,615,000 $226,673 $5,878 3.09%
    Not provided 135 $33,045,000 $244,778 $5,213 3.09%
    Asian 18 $5,670,000 $315,000 $4,623 3.13%
    American Indian 7 $1,265,000 $180,714 $4,315 3.20%
    Asian Indian 2 $460,000 $230,000 $3,721 2.69%
    Filipino 1 $265,000 $265,000 $3,597 2.75%
    Not applicable 1 $265,000 $265,000 $2,410 3.25%
    Guamanian 1 $205,000 $205,000 $8,262 3.00%
    Chinese 1 $165,000 $165,000 $2,894 2.88%

    Approval Rates

    Total approvals of all applications
    97.20%

    Midland 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
    87.99%

    Midland Mortgage Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,557 $393,415,000 $252,675

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,557 $393,415,000 $252,675

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 50 $10,180,000 $203,600 $3,552 2.83%
    40-60% 154 $36,260,000 $235,455 $3,654 2.88%
    60-80% 425 $105,775,000 $248,882 $4,058 3.12%
    80-100% 867 $222,445,000 $256,569 $5,118 3.09%
    Over 100% 39 $14,555,000 $373,205 $14,164 2.81%
    Under 20% 8 $680,000 $85,000 $1,311 0.97%