1st Midamerica Mortgage Rates, Fees & Info
Bethalto, ILLEI: 549300OARXTADS0L8L11
Tax ID: 37-0580723
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.18% | 4/19/24 |
| 30 Year Conventional Refi | 6.25% | 4/19/24 |
| 30 Year Cash-out Refi | 6.42% | 4/19/24 |
| 30 Year USDA Purchase | 6.82% | 4/19/24 |
| 15 Year Conventional Purchase | 6.05% | 4/19/24 |
| 15 Year Conventional Refi | 5.91% | 4/19/24 |
| 15 Year Cash-out Refi | 5.91% | 4/19/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
260Origination Dollar Volume (All Markets)
$35,620,000Awards
1ST MIDAMERICA - 2023
1ST MIDAMERICA is a 2023 , due to their low .
For 2023, 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
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% |
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.
Similarity Rank: 96
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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
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
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
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
2023 saw 1st Midamerica place emphasis on $100,000 or less loans with 122 originations, totaling $6,620,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications84.59%
1st Midamerica has a below average approval rate.
Pick Rate
Approvals leading to origination85.38%
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 |