1st Midamerica Mortgage Rates, Fees & Info
Bethalto, ILLEI: 549300OARXTADS0L8L11
Tax ID: 37-0580723
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & 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 by origination volume include: St. Louis, Kansas City, Decatur, Springfield, and Taylorville among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)1st Midamerica has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. 1st Midamerica 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 | 6.49% | 3/19/23 |
| 30 Year Conventional Refi | 6.35% | 3/19/23 |
| 30 Year Cash-out Refi | 6.50% | 3/19/23 |
| 30 Year VA Purchase | 6.60% | 3/19/23 |
| 15 Year Conventional Purchase | 5.82% | 3/19/23 |
| 15 Year Conventional Refi | 5.80% | 3/19/23 |
| 15 Year Cash-out Refi | 5.80% | 3/19/23 |
| 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
637Origination Dollar Volume (All Markets)
$86,245,000Awards
1ST MIDAMERICA - 2021
1ST MIDAMERICA is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
1st Midamerica's average 30 year fixed mortgage rate was
2.96%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.19%.
Relative Fees (Closing Costs)
1st Midamerica's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,518.
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 |
|---|---|---|---|---|---|
| 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% |
Similar Lenders
We use machine learning to identify the top lenders compared against 1ST MIDAMERICA 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 635 | $85,965,000 | $135,378 | $2,152 | 2.74% |
| VA | 2 | $280,000 | $140,000 | $5,569 | 2.94% |
For 2021, 1st Midamerica's most frequently originated type of loan was Conventional, with 635 originations. Their 2nd most popular type was VA, with 2 originations.
Loan Reason
For 2021, 1st Midamerica's most frequently cited loan purpose was Refi, with 216 originations. The 2nd most popular reason was Home Purchase, with 198 originations.
Loan Duration/Length
For 2021, 1st Midamerica's most frequently cited loan duration was 30 Year, with 243 originations. The 2nd most popular length was 15 Year, with 198 originations.
Origination Fees/Closing Costs
1st Midamerica's average total fees were $2,518, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.96%, while their most frequently originated rate bucket for loans was <2.5%, with 294 originations.
Loan Sizing
2021 saw 1st Midamerica place emphasis on $100k-200k loans with 270 originations, totaling $38,310,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications82.54%
1st Midamerica has a below average approval rate.
Pick Rate
Approvals leading to origination85.09%
1st Midamerica has an 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 |
LTV Distribution
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% |