1st Midamerica Mortgage Rates, Fees & Info

Bethalto, IL

LEI: 549300OARXTADS0L8L11

Tax ID: 37-0580723

5 stars - out of 5 stars, based on 25 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

1st Midamerica is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. 1st Midamerica has a high proportion of conventional loans. Their top markets include St. Louis, Kansas City, Decatur, Springfield, and Taylorville among others. 1st Midamerica has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. 1st Midamerica is typically a low fee lendor.


Originations

637

Origination Dollar Volume (All Markets)

$86,245,000

Awards

1ST MIDAMERICA 30 Year Conventional Loans bronze 1ST MIDAMERICA 30 Year Conventional Loans silver 1ST MIDAMERICA 30 Year Conventional Loans bronze 1ST MIDAMERICA 30 Year Conventional Loans bronze
Show all (4) awards

Relative Rate

1st Midamerica's average 30 year fixed rate mortgage of loans were 2.96%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.19%.

Relative Fees

1st Midamerica's average total fees for a 30 year fixed rate mortgage are $2,518.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ST. LOUIS, MO-IL (FHA|USDA|VA) 526 $72,550,000 $137,928 $2,132 2.75%
KANSAS CITY, MO-KS (FHA|USDA|VA) 48 $6,600,000 $137,500 $2,159 2.62%
Outside of Metro Areas 29 $3,425,000 $118,103 $2,179 2.77%
DECATUR, IL (FHA|USDA|VA) 13 $1,095,000 $84,231 $2,180 2.82%
SPRINGFIELD, IL (FHA|USDA|VA) 4 $570,000 $142,500 $2,042 3.19%
Taylorville, IL (FHA|USDA|VA) 5 $385,000 $77,000 $2,072 2.73%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $330,000 $165,000 $3,234 2.25%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $275,000 $275,000 $10,744 2.88%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $165,000 $165,000 $2,020 2.38%
Warrensburg, MO (FHA|USDA|VA) 1 $155,000 $155,000 $2,693 3.00%
JEFFERSON CITY, MO (FHA|USDA|VA) 1 $135,000 $135,000 $4,678 3.50%
Effingham, IL (FHA|USDA|VA) 1 $115,000 $115,000 $3,958 2.38%
Jacksonville, IL (FHA|USDA|VA) 1 $115,000 $115,000 $1,806 2.38%
Centralia, IL (FHA|USDA|VA) 1 $95,000 $95,000 $1,885 2.13%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $85,000 $85,000 $4,237 2.88%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $85,000 $85,000 $1,993 2.25%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $65,000 $65,000 $2,352 3.13%

1st Midamerica's top markets include St. Louis, Kansas City, Decatur, Springfield, and Taylorville among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 635 $85,965,000 $135,378 $2,152 2.74%
VA 2 $280,000 $140,000 $5,569 2.94%

For the 2021 period, 1st Midamerica's most frequently originated loan type of loans were Conventional, with 635 originations. Their 2nd most popular type is VA, with 2 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 216 $28,100,000 $130,093 $1,811 2.57%
Home Purchase 198 $30,500,000 $154,040 $2,463 2.92%
Cash Out Refi 167 $21,725,000 $130,090 $2,525 2.64%
Other 40 $4,570,000 $114,250 $1,433 3.25%
Home Improvement 16 $1,350,000 $84,375 $1,418 2.70%

For the 2021, 1st Midamerica's most frequently cited loan purpose of loans were Refi, with 216 originations. The 2nd most popular reason of loans were Home Purchase, with 198 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 243 $39,995,000 $164,588 $2,518 2.96%
15 Year 198 $24,380,000 $123,131 $1,997 2.47%
20 Year 80 $12,120,000 $151,500 $2,453 2.71%
10 Year 57 $5,585,000 $97,982 $2,041 2.46%
Other 42 $2,970,000 $70,714 $518 2.63%
5 Year 17 $1,195,000 $70,294 $0 4.10%

For the 2021, 1st Midamerica's most frequently cited loan length of loans were 30 Year, with 243 originations. The 2nd most popular length of loans were 15 Year, with 198 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 388 $47,940,000 $123,557
$1k-2k 161 $22,435,000 $139,348
$2k-3k 50 $8,620,000 $172,400
$3k-4k 16 $3,280,000 $205,000
$5k+ 4 $1,150,000 $287,500

$2,518 of loans were 1st Midamerica's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 388 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 294 $37,120,000 $126,259
2.5-3% 214 $30,120,000 $140,748
3-4% 105 $17,695,000 $168,524
4-5% 18 $1,060,000 $58,889
5-6% 6 $250,000 $41,667

During 2021, 1st Midamerica's average interest rate of loans were 2.96%, while their most frequently originated rate bucket of loans were <2.5%, with 294 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 270 $38,310,000 $141,889 $2,305 2.66%
$100,000 or less 257 $16,735,000 $65,117 $1,734 2.82%
$200k-400k 104 $26,840,000 $258,077 $2,813 2.76%
$400k-600k 4 $1,950,000 $487,500 $2,185 2.22%
$1MM+ 1 $1,625,000 $1,625,000 $0 3.50%
$600k-1MM 1 $785,000 $785,000 $2,284 3.75%

2021 saw 1st Midamerica place emphasis on $100k-200k loans with 270 originations, totaling $38,310,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 149 $24,185,000 $162,315 $2,238 2.77%
$75k-100k 147 $18,775,000 $127,721 $2,320 2.70%
$50k-75k 145 $15,475,000 $106,724 $2,116 2.70%
$50k or less 106 $8,160,000 $76,981 $1,825 2.76%
$150k-250k 65 $13,385,000 $205,923 $2,284 2.67%
$250k+ 10 $4,680,000 $468,000 $2,605 2.75%

1st Midamerica lent most frequently to those with incomes in the $100k-150k range, with 149 originations. The second most popular income band? $75k-100k, with 147 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 207 $30,105,000 $145,435 $2,158 2.63%
30-36% 117 $15,855,000 $135,513 $2,239 2.70%
<20% 116 $12,900,000 $111,207 $1,912 2.65%
36% 24 $3,720,000 $155,000 $2,159 2.99%
37% 21 $2,635,000 $125,476 $1,998 2.93%
38% 20 $2,850,000 $142,500 $2,214 2.80%
40% 18 $3,070,000 $170,556 $2,558 2.79%
42% 14 $1,710,000 $122,143 $2,272 2.79%
39% 14 $1,810,000 $129,286 $2,693 2.92%
41% 14 $2,130,000 $152,143 $2,332 2.71%
46% 11 $1,275,000 $115,909 $2,429 2.93%
43% 11 $1,805,000 $164,091 $2,673 2.61%
44% 9 $1,295,000 $143,889 $1,706 2.81%
45% 9 $1,005,000 $111,667 $2,116 2.97%
48% 8 $910,000 $113,750 $2,248 2.91%
47% 6 $890,000 $148,333 $1,979 3.55%
49% 5 $735,000 $147,000 $2,817 2.85%
50-60% 3 $485,000 $161,667 $2,131 4.25%
>60% 2 $180,000 $90,000 $1,277 3.44%

1st Midamerica lent most frequently to those with DTI ratios of 20-30%, with 207 originations. The next most common DTI ratio? 30-36%, with 117 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 579 $78,475,000 $135,535 $2,148 2.72%
Not provided 37 $5,775,000 $156,081 $2,635 2.80%
Black 10 $1,020,000 $102,000 $1,636 2.85%
Not applicable 6 $540,000 $90,000 $0 4.18%
American Indian 4 $320,000 $80,000 $1,757 2.97%
Asian 1 $115,000 $115,000 $549 2.50%

Approval Rates

Total approvals of all applications
80.72%

1st Midamerica has a below average approval rate.

Pick Rate

Approvals leading to origination
81.19%

1st Midamerica has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
0.0 1 $55,000 $55,000
1500.0 1 $1,625,000 $1,625,000
250.0 6 $280,000 $46,667
300.0 3 $215,000 $71,667
500.0 1 $105,000 $105,000
NA 625 $83,965,000 $134,344

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
637 $86,245,000 $135,392

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 37 $2,555,000 $69,054 $1,409 2.63%
40-60% 119 $13,905,000 $116,849 $1,763 2.60%
60-80% 270 $38,990,000 $144,407 $2,182 2.65%
80-100% 186 $29,100,000 $156,452 $2,568 2.86%
Over 100% 1 $175,000 $175,000 $8,611 3.00%
Under 20% 15 $615,000 $41,000 $1,129 4.41%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Standard Mortgage Group LLC Conventional home mortgage Closing on a mortgage 1 100.0%