Midland Mortgage Corporation Rates, Fees & Info
COLUMBIA, SCLEI: 5493008B783OSGFDLN78
Tax ID: 57-0645910
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Mortgage Data
Review & Overview
Midland Mortgage Corporation is a smaller mortgage company specializing in Home Purchase 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: Columbia, Charleston, Spartanburg, Gaffney, and Hilton Head Island among others. We have data for 63 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 a low 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.84% | 12/16/24 |
| 30 Year Conventional Refi | 6.85% | 12/16/24 |
| 30 Year Cash-out Refi | 6.91% | 12/16/24 |
| 30 Year FHA Purchase | 7.53% | 12/16/24 |
| 30 Year FHA Refi | 7.27% | 12/16/24 |
| 30 Year VA Purchase | 6.53% | 12/16/24 |
| 30 Year VA Refi | 6.67% | 12/16/24 |
| 30 Year USDA Purchase | 6.92% | 12/16/24 |
| 15 Year Conventional Purchase | 6.36% | 12/16/24 |
| 15 Year Conventional Refi | 6.69% | 12/16/24 |
| 15 Year Cash-out Refi | 6.69% | 12/16/24 |
| 15 Year FHA Refi | 5.68% | 12/16/24 |
| 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. | ||
Midland Mortgage Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
864Origination Dollar Volume (All Markets)
$173,490,000Awards
MIDLAND MORTGAGE CORPORATION - 2018
MIDLAND MORTGAGE CORPORATION is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| COLUMBIA, SC (FHA|USDA|VA) | 361 | $68,705,000 | $190,319 | $3,614 | 4.87% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 242 | $57,120,000 | $236,033 | $3,544 | 4.73% |
| SPARTANBURG, SC (FHA|USDA|VA) | 36 | $6,130,000 | $170,278 | $2,508 | 4.88% |
| Gaffney, SC (FHA|USDA|VA) | 40 | $5,620,000 | $140,500 | $2,590 | 4.91% |
| Outside of Metro Areas | 34 | $5,480,000 | $161,176 | $3,723 | 4.93% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 7 | $3,075,000 | $439,286 | $5,542 | 4.68% |
| Newberry, SC (FHA|USDA|VA) | 7 | $2,355,000 | $336,429 | $9,035 | 4.34% |
| Orangeburg, SC (FHA|USDA|VA) | 9 | $2,265,000 | $251,667 | $5,015 | 4.61% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 12 | $1,920,000 | $160,000 | $6,853 | 5.25% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 11 | $1,885,000 | $171,364 | $4,368 | 5.06% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 7 | $1,495,000 | $213,571 | $3,872 | 4.21% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 9 | $1,455,000 | $161,667 | $5,676 | 5.11% |
| LYNCHBURG, VA (FHA|USDA|VA) | 6 | $1,040,000 | $173,333 | $2,531 | 4.88% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $950,000 | $475,000 | $8,385 | 5.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 5 | $885,000 | $177,000 | $6,127 | 4.93% |
| SUMTER, SC (FHA|USDA|VA) | 5 | $855,000 | $171,000 | $4,922 | 5.15% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 4 | $830,000 | $207,500 | $4,121 | 4.69% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $3,419 | 4.91% |
| COLUMBUS, OH (FHA|USDA|VA) | 4 | $780,000 | $195,000 | $6,197 | 4.94% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $4,294 | 5.33% |
| ASHEVILLE, NC (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $7,276 | 5.29% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $6,127 | 5.25% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $2,109 | 5.00% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $1,099 | 4.25% |
| FLORENCE, SC (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $2,793 | 4.92% |
| Union, SC (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $5,298 | 4.13% |
| Waycross, GA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $2,562 | 4.56% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $9,917 | 4.63% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,440 | 5.25% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $4,144 | 5.31% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $11,629 | 4.75% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $5,844 | 5.25% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $9,144 | 5.13% |
| DECATUR, AL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,403 | 4.75% |
| Wilson, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $10,340 | 5.13% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $4,012 | 5.44% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,802 | 5.25% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,296 | 5.00% |
| LAFAYETTE, LA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $8,369 | 4.50% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,791 | 5.25% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,593 | 4.00% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,485 | 4.50% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,188 | 5.50% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,188 | 5.25% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.88% |
| Danville, VA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,908 | 5.13% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,515 | 4.75% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $7,801 | 5.13% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,267 | 5.63% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,707 | 5.75% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,791 | 3.75% |
| Auburn, IN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,619 | 5.75% |
| Portsmouth, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,083 | 5.00% |
| Mount Airy, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,152 | 5.25% |
| Bucyrus-Galion, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,089 | 5.25% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,510 | 5.63% |
| Wooster, OH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,027 | 5.50% |
| Laurinburg, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,349 | 4.25% |
| Sandusky, OH (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,353 | 5.63% |
| North Vernon, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,668 | 5.13% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,231 | 5.63% |
| AKRON, OH (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $4,299 | 5.50% |
| Greenwood, SC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,467 | 4.63% |
Similar Lenders
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Product Mix
For 2018, Midland Mortgage Corporation's most frequently originated type of loan was Conventional, with 411 originations. Their 2nd most popular type was FHA, with 278 originations.
Loan Reason
For 2018, Midland Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 748 originations. The 2nd most popular reason was Refi, with 87 originations.
Loan Duration/Length
For 2018, Midland Mortgage Corporation's most frequently cited loan duration was 30 Year, with 785 originations. The 2nd most popular length was 30+ year, with 51 originations.
Origination Fees/Closing Costs
Midland Mortgage Corporation's average total fees were $3,521, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 634 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 550 | $112,890,000 | $205,255 |
| 5-6% | 255 | $47,395,000 | $185,863 |
| 3-4% | 57 | $13,055,000 | $229,035 |
| 6-7% | 2 | $150,000 | $75,000 |
During 2018, Midland Mortgage Corporation's average interest rate for loans was 4.86%, while their most frequently originated rate bucket for loans was 4-5%, with 550 originations.
Loan Sizing
2018 saw Midland Mortgage Corporation place emphasis on $100k-200k loans with 434 originations, totaling $64,160,000 in origination value.
Applicant Income
Midland Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 267 originations. The second most popular income band? $50k or less, with 233 originations.
Applicant Debt to Income Ratio
Midland Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 157 originations. The next most common DTI ratio? 30-36%, with 145 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.84%
Midland Mortgage Corporation has an average approval rate.
Pick Rate
Approvals leading to origination87.73%
Midland Mortgage Corporation has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 864 | $173,490,000 | $200,799 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 864 | $173,490,000 | $200,799 |