Midland Mortgage Corporation Rates, Fees & Info

COLUMBIA, SC

LEI: 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: Charleston, Columbia, Gaffney, Spartanburg, and Charlotte among others. We have data for 72 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.

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

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Midland Mortgage Corporation. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

957

Origination Dollar Volume (All Markets)

$203,265,000
Show all (13) awards

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) 351 $89,735,000 $255,655 $4,385 4.25%
COLUMBIA, SC (FHA|USDA|VA) 330 $64,110,000 $194,273 $3,593 4.46%
Gaffney, SC (FHA|USDA|VA) 64 $9,700,000 $151,563 $2,461 4.40%
SPARTANBURG, SC (FHA|USDA|VA) 40 $7,210,000 $180,250 $3,691 4.44%
Outside of Metro Areas 30 $4,840,000 $161,333 $4,163 4.44%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 9 $2,545,000 $282,778 $8,402 4.86%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 4 $1,450,000 $362,500 $3,048 3.94%
LYNCHBURG, VA (FHA|USDA|VA) 7 $1,305,000 $186,429 $3,945 4.05%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 7 $1,225,000 $175,000 $7,986 4.71%
SUMTER, SC (FHA|USDA|VA) 5 $1,175,000 $235,000 $4,854 4.88%
Orangeburg, SC (FHA|USDA|VA) 7 $1,155,000 $165,000 $3,241 4.43%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 6 $1,060,000 $176,667 $6,126 4.29%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 6 $1,050,000 $175,000 $4,344 4.60%
Newberry, SC (FHA|USDA|VA) 5 $1,025,000 $205,000 $3,638 4.80%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $985,000 $328,333 $6,233 4.88%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 5 $945,000 $189,000 $6,513 4.50%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $885,000 $295,000 $9,380 4.33%
RALEIGH-CARY, NC (FHA|USDA|VA) 4 $660,000 $165,000 $7,436 4.84%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 3 $655,000 $218,333 $6,253 4.88%
FAYETTEVILLE, NC (FHA|USDA|VA) 3 $545,000 $181,667 $6,109 5.38%
FLORENCE, SC (FHA|USDA|VA) 4 $480,000 $120,000 $2,693 4.56%
Douglas, GA (FHA|USDA|VA) 1 $385,000 $385,000 $3,151 3.88%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $385,000 $385,000 $4,173 5.75%
Bennettsville, SC (FHA|USDA|VA) 1 $365,000 $365,000 $9,161 4.88%
COLUMBUS, OH (FHA|USDA|VA) 2 $350,000 $175,000 $4,075 4.38%
DAYTON-KETTERING, OH (FHA|USDA|VA) 2 $340,000 $170,000 $7,552 4.06%
WINSTON-SALEM, NC (FHA|USDA|VA) 3 $325,000 $108,333 $4,636 5.50%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $320,000 $160,000 $5,139 4.69%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $315,000 $315,000 $9,672 5.63%
Marion, IN (FHA|USDA|VA) 1 $315,000 $315,000 $14,261 5.63%
ASHEVILLE, NC (FHA|USDA|VA) 1 $295,000 $295,000 $535 4.38%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $255,000 $255,000 $2,302 4.75%
Wilson, NC (FHA|USDA|VA) 1 $255,000 $255,000 $8,537 4.00%
Greenwood, SC (FHA|USDA|VA) 1 $255,000 $255,000 $12,277 5.13%
MONTGOMERY, AL (FHA|USDA|VA) 2 $250,000 $125,000 $5,735 5.63%
MONROE, LA (FHA|USDA|VA) 2 $240,000 $120,000 $3,007 5.06%
AKRON, OH (FHA|USDA|VA) 1 $235,000 $235,000 $7,145 5.25%
DOTHAN, AL (FHA|USDA|VA) 1 $235,000 $235,000 $9,443 5.63%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $225,000 $225,000 $3,844 4.00%
RICHMOND, VA (FHA|USDA|VA) 1 $225,000 $225,000 $4,426 5.63%
LOUISVILLE, KY (FHA|USDA|VA) 1 $215,000 $215,000 $5,268 5.75%
Vidalia, GA (FHA|USDA|VA) 1 $215,000 $215,000 $3,385 5.00%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $215,000 $215,000 $7,098 5.63%
WILMINGTON, NC (FHA|USDA|VA) 1 $215,000 $215,000 $5,326 4.50%
Madison, IN (FHA|USDA|VA) 2 $210,000 $105,000 $4,425 5.38%
Dublin, GA (FHA|USDA|VA) 1 $205,000 $205,000 $2,686 4.13%
Union, SC (FHA|USDA|VA) 2 $200,000 $100,000 $1,595 3.94%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 2 $200,000 $100,000 $3,809 3.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $195,000 $195,000 $2,987 4.13%
Scottsboro, AL (FHA|USDA|VA) 1 $185,000 $185,000 $1,894 3.88%
Marion, OH (FHA|USDA|VA) 1 $185,000 $185,000 $3,399 4.75%
Waycross, GA (FHA|USDA|VA) 1 $175,000 $175,000 $3,655 3.50%
COLUMBUS, IN (FHA|USDA|VA) 1 $165,000 $165,000 $9,652 5.13%
Cullman, AL (FHA|USDA|VA) 1 $165,000 $165,000 $3,849 5.13%
Statesboro, GA (FHA|USDA|VA) 1 $165,000 $165,000 $2,482 4.38%
Charleston-Mattoon, IL (FHA|USDA|VA) 1 $155,000 $155,000 $3,341 4.13%
BRUNSWICK, GA (FHA|USDA|VA) 1 $155,000 $155,000 $2,237 4.00%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $155,000 $155,000 $4,148 5.75%
GOLDSBORO, NC (FHA|USDA|VA) 1 $145,000 $145,000 $1,664 4.75%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $145,000 $145,000 $6,021 4.00%
ALEXANDRIA, LA (FHA|USDA|VA) 1 $135,000 $135,000 $2,828 4.25%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $135,000 $135,000 $3,496 4.38%
Mount Vernon, OH (FHA|USDA|VA) 1 $135,000 $135,000 $2,452 4.75%
ROANOKE, VA (FHA|USDA|VA) 1 $125,000 $125,000 $2,906 4.00%
Forest City, NC (FHA|USDA|VA) 1 $115,000 $115,000 $7,000 5.63%
TOLEDO, OH (FHA|USDA|VA) 1 $105,000 $105,000 $5,935 4.38%
Urbana, OH (FHA|USDA|VA) 1 $105,000 $105,000 $6,385 4.13%
Georgetown, SC (FHA|USDA|VA) 1 $95,000 $95,000 $2,594 4.75%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $95,000 $95,000 $4,969 4.63%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $85,000 $85,000 $2,236 4.88%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $85,000 $85,000 $2,085 4.75%
Mount Vernon, IL (FHA|USDA|VA) 1 $75,000 $75,000 $2,886 5.25%
Midland Mortgage Corporation's top markets include Charleston, Columbia, Gaffney, Spartanburg, and Charlotte among others.

Their top states include:
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 436 $96,880,000 $222,202 $3,001 4.39%
    FHA 314 $59,960,000 $190,955 $5,202 4.49%
    VA 152 $37,940,000 $249,605 $5,124 4.30%
    USDA 55 $8,485,000 $154,273 $2,717 4.30%

    For 2019, Midland Mortgage Corporation's most frequently originated type of loan was Conventional, with 436 originations. Their 2nd most popular type was FHA, with 314 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 763 $158,635,000 $207,910 $3,914 4.42%
    Refi 151 $38,035,000 $251,887 $4,267 4.26%
    Cash Out Refi 43 $6,595,000 $153,372 $5,973 4.60%

    For 2019, Midland Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 763 originations. The 2nd most popular reason was Refi, with 151 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 879 $186,015,000 $211,621 $3,976 4.41%
    30+ year 33 $10,635,000 $322,273 $8,444 4.80%
    15 Year 25 $4,805,000 $192,200 $3,709 3.99%
    10 Year 14 $210,000 $15,000 $0 0.00%
    20 Year 5 $1,395,000 $279,000 $3,773 3.70%
    Other 1 $205,000 $205,000 $7,623 4.50%

    For 2019, Midland Mortgage Corporation's most frequently cited loan duration was 30 Year, with 879 originations. The 2nd most popular length was 30+ year, with 33 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 532 $106,750,000 $200,658
    $1k-2k 252 $54,890,000 $217,817
    $2k-3k 68 $13,700,000 $201,471
    $5k+ 36 $12,430,000 $345,278
    $3k-4k 34 $7,870,000 $231,471
    $4k-5k 19 $4,855,000 $255,526

    Midland Mortgage Corporation's average total fees were $3,976, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 532 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 485 $99,355,000 $204,856
    3-4% 312 $74,710,000 $239,455
    5-6% 140 $27,370,000 $195,500
    2.5-3% 3 $945,000 $315,000
    6-7% 3 $675,000 $225,000
    <2.5% 1 $15,000 $15,000

    During 2019, Midland Mortgage Corporation's average interest rate for loans was 4.41%, while their most frequently originated rate bucket for loans was 4-5%, with 485 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 419 $63,415,000 $151,348 $3,330 4.47%
    $200k-400k 385 $104,865,000 $272,377 $5,108 4.33%
    $100,000 or less 97 $7,005,000 $72,216 $2,371 4.50%
    $400k-600k 47 $21,145,000 $449,894 $5,240 4.36%
    $600k-1MM 8 $5,470,000 $683,750 $6,432 3.67%
    $1MM+ 1 $1,365,000 $1,365,000 $5,608 4.63%

    2019 saw Midland Mortgage Corporation place emphasis on $100k-200k loans with 419 originations, totaling $63,415,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 271 $52,125,000 $192,343 $4,028 4.39%
    $50k or less 245 $33,795,000 $137,939 $3,150 4.36%
    $100k-150k 169 $44,115,000 $261,036 $4,749 4.51%
    $75k-100k 154 $35,390,000 $229,805 $4,457 4.50%
    $150k-250k 70 $22,320,000 $318,857 $4,918 4.41%
    $250k+ 19 $6,485,000 $341,316 $3,704 4.31%

    Midland Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 271 originations. The second most popular income band? $50k or less, with 245 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 179 $36,845,000 $205,838 $3,959 4.40%
    20-30% 175 $36,495,000 $208,543 $3,746 4.47%
    50-60% 54 $12,660,000 $234,444 $5,645 4.41%
    <20% 52 $8,420,000 $161,923 $3,109 4.30%
    40% 43 $8,665,000 $201,512 $4,658 4.44%
    42% 42 $8,110,000 $193,095 $3,852 4.49%
    36% 42 $9,890,000 $235,476 $3,547 4.42%
    39% 41 $8,625,000 $210,366 $3,819 4.38%
    46% 37 $7,325,000 $197,973 $4,806 4.30%
    43% 36 $7,660,000 $212,778 $4,319 4.35%
    41% 35 $6,725,000 $192,143 $3,684 4.40%
    37% 34 $7,330,000 $215,588 $4,581 4.37%
    44% 33 $6,175,000 $187,121 $3,613 4.62%
    38% 33 $7,615,000 $230,758 $4,115 4.54%
    48% 25 $4,815,000 $192,600 $3,398 4.42%
    47% 24 $5,280,000 $220,000 $4,631 4.63%
    49% 23 $6,135,000 $266,739 $5,123 4.35%
    45% 16 $3,920,000 $245,000 $3,810 4.41%
    >60% 8 $2,670,000 $333,750 $2,559 3.77%

    Midland Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 179 originations. The next most common DTI ratio? 20-30%, with 175 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 718 $159,180,000 $221,699 $4,082 4.40%
    Black 197 $36,045,000 $182,970 $4,304 4.43%
    Not provided 26 $4,630,000 $178,077 $2,291 4.51%
    Asian 13 $2,665,000 $205,000 $3,083 4.18%
    American Indian 2 $560,000 $280,000 $3,144 4.25%
    Native Hawaiian or Islander 1 $185,000 $185,000 $4,597 5.13%

    Approval Rates

    Total approvals of all applications
    93.11%

    Midland Mortgage Corporation has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.71%

    Midland Mortgage Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 957 $203,265,000 $212,398

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 957 $203,265,000 $212,398

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $1,460,000 $146,000 $3,138 4.04%
    40-60% 38 $7,110,000 $187,105 $3,661 4.22%
    60-80% 159 $35,075,000 $220,597 $3,420 4.51%
    80-100% 671 $141,865,000 $211,423 $4,071 4.42%
    Over 100% 45 $11,065,000 $245,889 $7,452 4.43%
    Under 20% 13 $195,000 $15,000 $0 0.00%