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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.84% | 4/22/24 |
| 30 Year Conventional Refi | 6.85% | 4/22/24 |
| 30 Year Cash-out Refi | 6.91% | 4/22/24 |
| 30 Year FHA Purchase | 7.53% | 4/22/24 |
| 30 Year FHA Refi | 7.27% | 4/22/24 |
| 30 Year VA Purchase | 6.53% | 4/22/24 |
| 30 Year VA Refi | 6.67% | 4/22/24 |
| 30 Year USDA Purchase | 6.92% | 4/22/24 |
| 15 Year Conventional Purchase | 6.36% | 4/22/24 |
| 15 Year Conventional Refi | 6.69% | 4/22/24 |
| 15 Year Cash-out Refi | 6.69% | 4/22/24 |
| 15 Year FHA Refi | 5.68% | 4/22/24 |
| 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
1,557Origination Dollar Volume (All Markets)
$393,415,000Awards
MIDLAND MORTGAGE CORPORATION - 2021
MIDLAND MORTGAGE CORPORATION is a 2021 , due to their low .
For 2021, 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 |
|---|---|---|---|---|---|
| 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% |
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Product Mix
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
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
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
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
2021 saw Midland Mortgage Corporation place emphasis on $200k-400k loans with 783 originations, totaling $215,865,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications97.20%
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 origination87.99%
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 |