1st Midamerica Mortgage Rates, Fees & Info

Bethalto, IL

LEI: 549300OARXTADS0L8L11

Tax ID: 37-0580723

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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.

    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% 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






    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

    637

    Origination Dollar Volume (All Markets)

    $86,245,000

    Awards

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

    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%
    1st Midamerica's top markets include St. Louis, Kansas City, Decatur, Springfield, and Taylorville among others.

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

    Town & Country Bank
    Similarity Rank: 328
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 370
    CapGrow Home Mortgage, LLC
    Similarity Rank: 552
    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 627
    JERSEY STATE BANK
    Similarity Rank: 725
    HNB National Bank
    Similarity Rank: 910
    First National Bank of Waterloo
    Similarity Rank: 938
    VANTAGE Credit Union
    Similarity Rank: 1010
    Providence Bank
    Similarity Rank: 1102
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1260

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 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

    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 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

    Origination Fee/Closing Cost 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 11 $2,165,000 $196,818
    $4k-5k 5 $1,115,000 $223,000
    $5k+ 4 $1,150,000 $287,500

    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

    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 applications
    82.54%

    1st Midamerica has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.09%

    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

    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%