1st Midamerica Mortgage Rates, Fees & Info
Bethalto, ILLEI: 549300OARXTADS0L8L11
Tax ID: 37-0580723
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
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 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 applications80.72%
1st Midamerica has a below average approval rate.
Pick Rate
Approvals leading to origination81.19%
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% |
