1st Midamerica Mortgage Rates, Fees & Info

Bethalto, IL

LEI: 549300OARXTADS0L8L11

Tax ID: 37-0580723

5 stars - Updated: 6/9/24 - out of 5 stars, based on 16 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

1st Midamerica is a smaller mortgage company specializing in Home Purchase loans. 1st Midamerica has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: St. Louis, Breckenridge, Kansas City, Naples, and North Port among others. We have data for 11 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 relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.18% 6/9/24
30 Year Conventional Refi 6.25% 6/9/24
30 Year Cash-out Refi 6.42% 6/9/24
30 Year USDA Purchase 6.82% 6/9/24
15 Year Conventional Purchase 6.05% 6/9/24
15 Year Conventional Refi 5.91% 6/9/24
15 Year Cash-out Refi 5.91% 6/9/24
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.

1st Midamerica Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from 1st Midamerica. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

260

Origination Dollar Volume (All Markets)

$35,620,000

Awards

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

Relative Rate

1st Midamerica's average 30 year fixed mortgage rate was 6.22%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.26%.

Relative Fees (Closing Costs)

1st Midamerica's average total fees/closing costs for a 30 year fixed rate mortgage were $2,519.

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 $9,089.

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) 223 $28,435,000 $127,511 $2,133 6.46%
Breckenridge, CO (FHA|USDA|VA) 1 $2,165,000 $2,165,000 $0 6.63%
Outside of Metro Areas 17 $1,785,000 $105,000 $1,645 6.31%
KANSAS CITY, MO-KS (FHA|USDA|VA) 11 $1,755,000 $159,545 $2,229 7.01%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $635,000 $635,000 $0 6.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,806 5.50%
DECATUR, IL (FHA|USDA|VA) 2 $150,000 $75,000 $2,248 6.94%
Jacksonville, IL (FHA|USDA|VA) 1 $125,000 $125,000 $2,077 5.50%
Centralia, IL (FHA|USDA|VA) 1 $125,000 $125,000 $3,011 6.25%
Taylorville, IL (FHA|USDA|VA) 1 $75,000 $75,000 $1,823 6.50%
SPRINGFIELD, IL (FHA|USDA|VA) 1 $65,000 $65,000 $2,245 6.25%
1st Midamerica's top markets include St. Louis, Breckenridge, Kansas City, Naples, and North Port among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • 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.

    1ST MIDAMERICA
    Similarity Rank: 286
    CNB Bank And Trust, N.A.
    Similarity Rank: 323
    FIRST COMMUNITY
    Similarity Rank: 336
    First National Bank of Waterloo
    Similarity Rank: 340
    United Bank of Union
    Similarity Rank: 360
    VANTAGE Credit Union
    Similarity Rank: 371
    Bank of Hillsboro
    Similarity Rank: 459
    ALLIANCE CREDIT UNION
    Similarity Rank: 520
    ALLTRU Federal Credit Union
    Similarity Rank: 573

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 259 $35,495,000 $137,046 $2,112 6.47%
    USDA 1 $125,000 $125,000 $2,995 6.00%

    For 2023, 1st Midamerica's most frequently originated type of loan was Conventional, with 259 originations. Their 2nd most popular type was USDA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 171 $27,235,000 $159,269 $2,458 6.30%
    Other 35 $2,175,000 $62,143 $1,053 6.75%
    Cash Out Refi 23 $2,915,000 $126,739 $2,083 6.27%
    Refi 19 $2,645,000 $139,211 $1,877 7.38%
    Home Improvement 12 $650,000 $54,167 $817 6.96%

    For 2023, 1st Midamerica's most frequently cited loan purpose was Home Purchase, with 171 originations. The 2nd most popular reason was Other, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 170 $28,280,000 $166,353 $2,519 6.22%
    15 Year 33 $1,835,000 $55,606 $1,319 6.74%
    Other 19 $1,505,000 $79,211 $602 6.42%
    10 Year 17 $945,000 $55,588 $859 7.04%
    5 Year 13 $2,185,000 $168,077 $1,873 7.76%
    3 Year 5 $655,000 $131,000 $0 7.95%
    20 Year 2 $150,000 $75,000 $1,792 5.94%
    1 Year 1 $65,000 $65,000 $0 8.50%

    For 2023, 1st Midamerica's most frequently cited loan duration was 30 Year, with 170 originations. The 2nd most popular length was 15 Year, with 33 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 188 $22,490,000 $119,628
    $1k-2k 34 $5,120,000 $150,588
    $2k-3k 9 $1,395,000 $155,000
    $3k-4k 2 $340,000 $170,000
    $4k-5k 1 $245,000 $245,000

    1st Midamerica's average total fees were $2,519, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 188 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 103 $14,785,000 $143,544
    5-6% 94 $14,030,000 $149,255
    7-8% 50 $5,430,000 $108,600
    Over 8% 12 $1,330,000 $110,833
    4-5% 1 $45,000 $45,000

    During 2023, 1st Midamerica's average interest rate for loans was 6.22%, while their most frequently originated rate bucket for loans was 6-7%, with 103 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 122 $6,620,000 $54,262 $1,644 6.55%
    $100k-200k 83 $11,935,000 $143,795 $2,368 6.46%
    $200k-400k 51 $13,235,000 $259,510 $2,820 6.30%
    $400k-600k 2 $1,030,000 $515,000 $3,226 6.13%
    $1MM+ 1 $2,165,000 $2,165,000 $0 6.63%
    $600k-1MM 1 $635,000 $635,000 $0 6.00%

    2023 saw 1st Midamerica place emphasis on $100,000 or less loans with 122 originations, totaling $6,620,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 59 $3,945,000 $66,864 $1,731 6.29%
    $50k-75k 55 $5,985,000 $108,818 $2,184 6.36%
    $100k-150k 51 $8,715,000 $170,882 $2,497 6.37%
    $75k-100k 35 $4,215,000 $120,429 $1,984 6.43%
    $150k-250k 31 $5,765,000 $185,968 $2,311 6.44%
    $250k+ 10 $2,410,000 $241,000 $2,317 6.94%

    1st Midamerica lent most frequently to those with incomes in the $50k or less range, with 59 originations. The second most popular income band? $50k-75k, with 55 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 67 $7,665,000 $114,403 $2,121 6.51%
    30-36% 56 $7,380,000 $131,786 $2,104 6.42%
    <20% 27 $3,285,000 $121,667 $2,043 6.45%
    37% 17 $2,505,000 $147,353 $2,176 6.34%
    40% 12 $1,750,000 $145,833 $2,320 6.16%
    42% 11 $1,435,000 $130,455 $2,224 6.47%
    38% 11 $1,655,000 $150,455 $1,988 5.75%
    36% 10 $950,000 $95,000 $1,862 6.20%
    44% 9 $1,675,000 $186,111 $2,397 6.42%
    41% 8 $680,000 $85,000 $1,718 6.27%
    39% 6 $880,000 $146,667 $2,381 6.33%
    45% 5 $565,000 $113,000 $2,020 7.30%
    43% 4 $1,010,000 $252,500 $2,593 6.34%
    49% 1 $85,000 $85,000 $2,100 6.00%
    >60% 1 $15,000 $15,000 $0 6.75%

    1st Midamerica lent most frequently to those with DTI ratios of 20-30%, with 67 originations. The next most common DTI ratio? 30-36%, with 56 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 224 $28,810,000 $128,616 $2,105 6.40%
    Not applicable 15 $4,215,000 $281,000 $1,609 7.68%
    Black 11 $1,125,000 $102,273 $2,108 6.27%
    Asian 2 $580,000 $290,000 $3,620 6.31%
    American Indian 3 $485,000 $161,667 $2,411 6.54%
    Not provided 5 $405,000 $81,000 $1,920 6.29%

    Approval Rates

    Total approvals of all applications
    84.59%

    1st Midamerica has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.38%

    1st Midamerica has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    11576.0 1 $2,165,000 $2,165,000
    1158.0 1 $65,000 $65,000
    1273.0 1 $635,000 $635,000
    1308.0 1 $55,000 $55,000
    1338.5 1 $45,000 $45,000
    1563.0 1 $65,000 $65,000
    1623.25 1 $105,000 $105,000
    1634.5 1 $105,000 $105,000
    1646.0 1 $35,000 $35,000
    1655.0 1 $165,000 $165,000
    1681.0 1 $155,000 $155,000
    1691.0 1 $115,000 $115,000
    1718.0 1 $185,000 $185,000
    1750.5 1 $45,000 $45,000
    2028.8 1 $255,000 $255,000
    2034.0 1 $115,000 $115,000
    2057.7 1 $325,000 $325,000
    2059.0 1 $185,000 $185,000
    2193.0 1 $15,000 $15,000
    2415.5 1 $295,000 $295,000
    2748.5 1 $175,000 $175,000
    4338.5 1 $265,000 $265,000
    5527.5 1 $225,000 $225,000
    824.7 1 $65,000 $65,000
    NA 236 $29,760,000 $126,102

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    260 $35,620,000 $137,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $1,880,000 $72,308 $1,195 6.73%
    40-60% 30 $3,180,000 $106,000 $1,865 6.50%
    60-80% 68 $10,300,000 $151,471 $2,222 6.59%
    80-100% 120 $19,120,000 $159,333 $2,410 6.26%
    Over 100% 2 $210,000 $105,000 $1,609 8.44%
    Under 20% 10 $220,000 $22,000 $896 7.04%