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, Kansas City, Decatur, Jacksonville, and Maryville 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.
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% | 11/21/24 |
| 30 Year Conventional Refi | 6.25% | 11/21/24 |
| 30 Year Cash-out Refi | 6.42% | 11/21/24 |
| 30 Year USDA Purchase | 6.82% | 11/21/24 |
| 15 Year Conventional Purchase | 6.05% | 11/21/24 |
| 15 Year Conventional Refi | 5.91% | 11/21/24 |
| 15 Year Cash-out Refi | 5.91% | 11/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
271Origination Dollar Volume (All Markets)
$31,495,000Top 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) | 232 | $26,980,000 | $116,293 | $0 | 5.50% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 14 | $1,800,000 | $128,571 | $0 | 0.00% |
| Outside of Metro Areas | 12 | $1,370,000 | $114,167 | $0 | 0.00% |
| DECATUR, IL (FHA|USDA|VA) | 4 | $450,000 | $112,500 | $0 | 0.00% |
| Jacksonville, IL (FHA|USDA|VA) | 3 | $225,000 | $75,000 | $0 | 0.00% |
| Maryville, MO (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Macomb, IL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Taylorville, IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
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 | 268 | $31,190,000 | $116,381 | $0 | 0.00% |
| USDA | 2 | $240,000 | $120,000 | $0 | 0.00% |
| HELOC | 1 | $65,000 | $65,000 | n/a | 5.50% |
For 2019, 1st Midamerica's most frequently originated type of loan was Conventional, with 268 originations. Their 2nd most popular type was USDA, with 2 originations.
Loan Reason
For 2019, 1st Midamerica's most frequently cited loan purpose was Home Purchase, with 165 originations. The 2nd most popular reason was Cash Out Refi, with 41 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 271 | $31,495,000 | $116,218 | $0 | 5.50% |
For 2019, 1st Midamerica's most frequently cited loan duration was Other, with 271 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 1 | $65,000 | $65,000 |
During 2019, 1st Midamerica's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 1 originations.
Loan Sizing
2019 saw 1st Midamerica place emphasis on $100,000 or less loans with 125 originations, totaling $8,075,000 in origination value.
Applicant Income
1st Midamerica lent most frequently to those with incomes in the $50k-75k range, with 79 originations. The second most popular income band? $75k-100k, with 57 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 270 | $31,430,000 | $116,407 | $0 | 0.00% |
| 30-36% | 1 | $65,000 | $65,000 | $0 | 5.50% |
1st Midamerica lent most frequently to those with DTI ratios of Exempt%, with 270 originations. The next most common DTI ratio? 30-36%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications74.78%
1st Midamerica has a below average approval rate.
Pick Rate
Approvals leading to origination75.28%
1st Midamerica has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 270 | $31,430,000 | $116,407 |
| NA | 1 | $65,000 | $65,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $75,000 | $75,000 |
| Single Family (1-4 Units):Site-Built | 270 | $31,420,000 | $116,370 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 60-80% | 1 | $65,000 | $65,000 | $0 | 5.50% |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| STANDARD MORTGAGE CORPORATION | Conventional home mortgage | Struggling to pay mortgage | 1 | 33.3% |
| STANDARD MORTGAGE CORPORATION | Conventional home mortgage | Trouble during payment process | 1 | 33.3% |
| STANDARD MORTGAGE CORPORATION | FHA mortgage | Trouble during payment process | 1 | 33.3% |