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 and Refi loans. Midwest Mortgage Associates 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: Colorado Springs, Dallas, Columbia, Pueblo, and Jefferson City among others. We have data for 63 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 high 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% | 11/26/22 |
| 30 Year Conventional Refi | 6.77% | 11/26/22 |
| 30 Year Cash-out Refi | 6.99% | 11/26/22 |
| 30 Year FHA Purchase | 7.82% | 11/26/22 |
| 30 Year FHA Refi | 7.44% | 11/26/22 |
| 30 Year VA Purchase | 6.57% | 11/26/22 |
| 30 Year VA Refi | 6.22% | 11/26/22 |
| 30 Year USDA Purchase | 7.23% | 11/26/22 |
| 30 Year USDA Refi | 6.89% | 11/26/22 |
| 15 Year Conventional Purchase | 6.31% | 11/26/22 |
| 15 Year Conventional Refi | 6.22% | 11/26/22 |
| 15 Year Cash-out Refi | 6.22% | 11/26/22 |
| 15 Year FHA Refi | 6.00% | 11/26/22 |
| 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
979Origination Dollar Volume (All Markets)
$257,375,000Awards
Midwest Mortgage Associates Corporation - 2021
Midwest Mortgage Associates Corporation is a 2021 , due to their low .
For 2021, 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
3.03%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.12%.
Relative Fees (Closing Costs)
Midwest Mortgage Associates Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,721.
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 |
|---|---|---|---|---|---|
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 169 | $55,365,000 | $327,604 | $7,005 | 2.90% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 148 | $51,170,000 | $345,743 | $7,509 | 3.16% |
| Outside of Metro Areas | 110 | $29,000,000 | $263,636 | $6,577 | 2.99% |
| COLUMBIA, MO (FHA|USDA|VA) | 127 | $28,205,000 | $222,087 | $5,776 | 2.98% |
| PUEBLO, CO (FHA|USDA|VA) | 90 | $20,750,000 | $230,556 | $5,820 | 2.98% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 55 | $9,015,000 | $163,909 | $5,488 | 2.99% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 17 | $6,585,000 | $387,353 | $8,130 | 2.84% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 22 | $6,300,000 | $286,364 | $6,054 | 3.01% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 18 | $4,430,000 | $246,111 | $7,307 | 2.94% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 20 | $4,330,000 | $216,500 | $7,974 | 2.82% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 18 | $3,820,000 | $212,222 | $6,419 | 3.06% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 15 | $3,785,000 | $252,333 | $6,243 | 3.03% |
| GAINESVILLE, FL (FHA|USDA|VA) | 17 | $3,225,000 | $189,706 | $6,140 | 3.04% |
| JOPLIN, MO (FHA|USDA|VA) | 21 | $2,955,000 | $140,714 | $5,637 | 3.05% |
| Moberly, MO (FHA|USDA|VA) | 14 | $2,610,000 | $186,429 | $6,092 | 2.79% |
| Cañon City, CO (FHA|USDA|VA) | 9 | $2,275,000 | $252,778 | $5,802 | 3.06% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 12 | $2,180,000 | $181,667 | $7,200 | 2.91% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 10 | $1,950,000 | $195,000 | $4,907 | 3.04% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 6 | $1,940,000 | $323,333 | $8,914 | 3.02% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 6 | $1,480,000 | $246,667 | $9,590 | 3.15% |
| Granbury, TX (FHA|USDA|VA) | 6 | $1,420,000 | $236,667 | $6,001 | 3.06% |
| FORT COLLINS, CO (FHA|USDA|VA) | 4 | $1,100,000 | $275,000 | $5,433 | 3.03% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $1,060,000 | $530,000 | $16,380 | 2.19% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 5 | $1,025,000 | $205,000 | $7,922 | 2.70% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 4 | $870,000 | $217,500 | $7,727 | 2.50% |
| Mexico, MO (FHA|USDA|VA) | 4 | $770,000 | $192,500 | $5,966 | 2.91% |
| Bonham, TX (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $7,837 | 3.79% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $5,362 | 3.46% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $3,404 | 3.25% |
| Hannibal, MO (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $6,115 | 3.21% |
| MIDLAND, TX (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $10,125 | 2.94% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $5,055 | 2.75% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $9,282 | 2.50% |
| Stephenville, TX (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $3,492 | 2.31% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $6,201 | 3.25% |
| TYLER, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,968 | 2.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $4,241 | 3.13% |
| Palatka, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $7,169 | 2.88% |
| WICHITA, KS (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $3,711 | 3.44% |
| Craig, CO (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $10,442 | 3.00% |
| WACO, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $9,161 | 2.88% |
| Sedalia, MO (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,576 | 2.63% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $4,593 | 3.44% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,657 | 3.63% |
| West Plains, MO (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $10,197 | 3.25% |
| Port Lavaca, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,745 | 3.00% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,371 | 3.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,059 | 3.50% |
| OCALA, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,572 | 3.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,780 | 3.25% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,226 | 2.88% |
| Warrensburg, MO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $8,677 | 2.63% |
| Branson, MO (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $8,433 | 3.25% |
| Huntsville, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,861 | 2.63% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,900 | 3.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,284 | 2.75% |
| Lake City, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,008 | 2.88% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $7,626 | 4.25% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,488 | 3.63% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,810 | 2.88% |
| Brenham, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,790 | 3.38% |
| Kirksville, MO (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $4,457 | 3.00% |
| Batesville, AR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $4,666 | 3.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Midwest Mortgage Associates Corporation based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2021, Midwest Mortgage Associates Corporation's most frequently originated type of loan was Conventional, with 606 originations. Their 2nd most popular type was FHA, with 248 originations.
Loan Reason
For 2021, Midwest Mortgage Associates Corporation's most frequently cited loan purpose was Home Purchase, with 637 originations. The 2nd most popular reason was Refi, with 208 originations.
Loan Duration/Length
For 2021, Midwest Mortgage Associates Corporation's most frequently cited loan duration was 30 Year, with 900 originations. The 2nd most popular length was 15 Year, with 58 originations.
Origination Fees/Closing Costs
Midwest Mortgage Associates Corporation's average total fees were $6,721, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 376 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 402 | $106,930,000 | $265,995 |
| 3-4% | 380 | $96,460,000 | $253,842 |
| <2.5% | 171 | $45,795,000 | $267,807 |
| 4-5% | 25 | $7,945,000 | $317,800 |
During 2021, Midwest Mortgage Associates Corporation's average interest rate for loans was 3.03%, while their most frequently originated rate bucket for loans was 2.5-3%, with 402 originations.
Loan Sizing
2021 saw Midwest Mortgage Associates Corporation place emphasis on $200k-400k loans with 507 originations, totaling $140,875,000 in origination value.
Applicant Income
Midwest Mortgage Associates Corporation lent most frequently to those with incomes in the $50k-75k range, with 285 originations. The second most popular income band? $75k-100k, with 201 originations.
Applicant Debt to Income Ratio
Midwest Mortgage Associates Corporation lent most frequently to those with DTI ratios of 20-30%, with 168 originations. The next most common DTI ratio? 30-36%, with 168 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.57%
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 origination62.21%
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 | 979 | $257,375,000 | $262,896 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Midwest Loan Services, Inc. | Conventional home mortgage | Incorrect information on your report | 1 | 14.3% |
| Midwest Loan Services, Inc. | Conventional home mortgage | Struggling to pay mortgage | 1 | 14.3% |
| Midwest Loan Services, Inc. | Conventional home mortgage | Trouble during payment process | 2 | 28.6% |
| Midwest Loan Services, Inc. | FHA mortgage | Trouble during payment process | 1 | 14.3% |
| Midwest Loan Services, Inc. | Other type of mortgage | Closing on a mortgage | 1 | 14.3% |
| Midwest Loan Services, Inc. | VA mortgage | Trouble during payment process | 1 | 14.3% |
