Midwest Mortgage Associates Corporation Rates, Fees & Info
Colorado Springs, COLEI: 549300NFA0VY9215VV25
Tax ID: 46-2077362
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Mortgage Data
Review & Overview
Midwest Mortgage Associates Corporation is a smaller mortgage company specializing in Home Purchase loans. Midwest Mortgage Associates Corporation has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Kansas City, Warrensburg, Dallas, Columbia, and Joplin among others. We have data for 72 markets. (Some data included below & more in-depth data is available with an active subscription.)Midwest Mortgage Associates 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. Midwest Mortgage Associates 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 | 7.02% | 7/13/25 |
| 30 Year Conventional Refi | 6.95% | 7/13/25 |
| 30 Year Cash-out Refi | 7.25% | 7/13/25 |
| 30 Year FHA Purchase | 7.37% | 7/13/25 |
| 30 Year FHA Refi | 7.16% | 7/13/25 |
| 30 Year VA Purchase | 6.63% | 7/13/25 |
| 30 Year VA Refi | 6.25% | 7/13/25 |
| 30 Year USDA Purchase | 6.97% | 7/13/25 |
| 15 Year Conventional Purchase | 6.84% | 7/13/25 |
| 15 Year Conventional Refi | 6.13% | 7/13/25 |
| 15 Year Cash-out Refi | 6.13% | 7/13/25 |
| 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. | ||
Midwest Mortgage Associates Corporation Mortgage Calculator
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This is not an official calculator from Midwest Mortgage Associates Corporation. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
776Origination Dollar Volume (All Markets)
$189,830,000Awards
Midwest Mortgage Associates Corporation - 2024
Midwest Mortgage Associates Corporation is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Midwest Mortgage Associates Corporation's average 30 year fixed mortgage rate was
6.65%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.1%.
Relative Fees (Closing Costs)
Midwest Mortgage Associates Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,863.
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 $8,356.
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 |
|---|---|---|---|---|---|
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 104 | $31,770,000 | $305,481 | $4,340 | 6.73% |
| Outside of Metro Areas | 143 | $27,985,000 | $195,699 | $4,321 | 6.72% |
| Warrensburg, MO (FHA|USDA|VA) | 82 | $19,660,000 | $239,756 | $5,359 | 6.54% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 38 | $13,780,000 | $362,632 | $13,270 | 6.81% |
| COLUMBIA, MO (FHA|USDA|VA) | 45 | $11,225,000 | $249,444 | $4,751 | 6.70% |
| JOPLIN, MO (FHA|USDA|VA) | 53 | $9,575,000 | $180,660 | $4,523 | 6.72% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 35 | $7,535,000 | $215,286 | $5,773 | 6.82% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 25 | $7,275,000 | $291,000 | $8,318 | 6.57% |
| PUEBLO, CO (FHA|USDA|VA) | 21 | $7,035,000 | $335,000 | $6,772 | 6.69% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 25 | $5,105,000 | $204,200 | $4,217 | 6.65% |
| Sedalia, MO (FHA|USDA|VA) | 20 | $4,660,000 | $233,000 | $3,381 | 6.65% |
| Marshall, MO (FHA|USDA|VA) | 24 | $3,580,000 | $149,167 | $3,139 | 6.52% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 14 | $3,450,000 | $246,429 | $11,171 | 6.26% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 10 | $3,440,000 | $344,000 | $14,508 | 6.48% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 10 | $2,490,000 | $249,000 | $7,061 | 6.78% |
| Paragould, AR (FHA|USDA|VA) | 10 | $2,240,000 | $224,000 | $6,631 | 6.36% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 8 | $1,740,000 | $217,500 | $7,690 | 6.58% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 5 | $1,565,000 | $313,000 | $12,464 | 6.65% |
| Moberly, MO (FHA|USDA|VA) | 8 | $1,560,000 | $195,000 | $3,704 | 6.45% |
| Mexico, MO (FHA|USDA|VA) | 7 | $1,465,000 | $209,286 | $5,673 | 6.64% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 4 | $1,450,000 | $362,500 | $6,726 | 6.69% |
| WICHITA, KS (FHA|USDA|VA) | 5 | $1,435,000 | $287,000 | $5,738 | 6.85% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 5 | $1,285,000 | $257,000 | $25,068 | 6.55% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 5 | $995,000 | $199,000 | $3,646 | 6.60% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $980,000 | $490,000 | $8,474 | 6.88% |
| Branson, MO (FHA|USDA|VA) | 5 | $925,000 | $185,000 | $5,410 | 6.43% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $7,002 | 6.68% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $6,614 | 5.88% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $13,389 | 4.33% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $5,080 | 7.38% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 4 | $730,000 | $182,500 | $7,029 | 7.66% |
| LAWRENCE, KS (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $3,028 | 6.63% |
| Shawnee, OK (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $6,694 | 6.75% |
| Sulphur Springs, TX (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $6,688 | 6.81% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $3,961 | 6.17% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $13,594 | 7.13% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $10,726 | 7.25% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $12,795 | 6.13% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,145 | 5.99% |
| Granbury, TX (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $15,916 | 6.13% |
| Hannibal, MO (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $9,315 | 6.19% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,367 | 6.63% |
| JONESBORO, AR (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 6.75% |
| TULSA, OK (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,605 | 7.63% |
| Poplar Bluff, MO (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $4,570 | 6.19% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $7,004 | 6.99% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $10,640 | 5.88% |
| Kirksville, MO (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $3,074 | 6.38% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $17,058 | 6.25% |
| Winfield, KS (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,514 | 7.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $9,488 | 6.88% |
| OCALA, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $12,569 | 6.13% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $13,652 | 5.99% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $12,275 | 6.13% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $12,460 | 6.25% |
| Farmington, MO (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,390 | 6.63% |
| Salina, KS (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,950 | 6.99% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,715 | 6.63% |
| Sikeston, MO (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $3,777 | 6.63% |
| Paris, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,915 | 7.13% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,943 | 7.25% |
| Athens, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,542 | 7.63% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $10,131 | 6.38% |
| LAWTON, OK (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,537 | 6.63% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,591 | 6.75% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,449 | 6.99% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 6.38% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,935 | 6.88% |
| Pittsburg, KS (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $650 | 6.38% |
| LAFAYETTE, LA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,553 | 7.25% |
| Miami, OK (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,465 | 7.13% |
| Blytheville, AR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,725 | 6.49% |
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Product Mix
For 2024, Midwest Mortgage Associates Corporation's most frequently originated type of loan was Conventional, with 343 originations. Their 2nd most popular type was FHA, with 269 originations.
Loan Reason
For 2024, Midwest Mortgage Associates Corporation's most frequently cited loan purpose was Home Purchase, with 722 originations. The 2nd most popular reason was Refi, with 23 originations.
Loan Duration/Length
For 2024, Midwest Mortgage Associates Corporation's most frequently cited loan duration was 30 Year, with 769 originations. The 2nd most popular length was 15 Year, with 6 originations.
Origination Fees/Closing Costs
Midwest Mortgage Associates Corporation's average total fees were $5,863, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 379 originations.
Interest Rates
During 2024, Midwest Mortgage Associates Corporation's average interest rate for loans was 6.65%, while their most frequently originated rate bucket for loans was 6-7%, with 487 originations.
Loan Sizing
2024 saw Midwest Mortgage Associates Corporation place emphasis on $200k-400k loans with 362 originations, totaling $99,620,000 in origination value.
Applicant Income
Midwest Mortgage Associates Corporation lent most frequently to those with incomes in the $50k-75k range, with 232 originations. The second most popular income band? $100k-150k, with 172 originations.
Applicant Debt to Income Ratio
Midwest Mortgage Associates Corporation lent most frequently to those with DTI ratios of 30-36%, with 112 originations. The next most common DTI ratio? 50-60%, with 92 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.10%
Midwest Mortgage Associates 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 origination57.73%
Midwest Mortgage Associates Corporation has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 776 | $189,830,000 | $244,626 |