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, Springfield, Decatur, and Peoria among others. We have data for 13 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.
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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
341Origination Dollar Volume (All Markets)
$46,675,000Awards
1ST MIDAMERICA - 2022
1ST MIDAMERICA is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 278 | $33,530,000 | $120,612 | $2,201 | 4.66% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 25 | $7,525,000 | $301,000 | $2,671 | 4.15% |
| Outside of Metro Areas | 19 | $2,895,000 | $152,368 | $2,338 | 4.84% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 4 | $1,100,000 | $275,000 | $4,919 | 4.53% |
| DECATUR, IL (FHA|USDA|VA) | 7 | $545,000 | $77,857 | $1,672 | 4.73% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,897 | 3.25% |
| Quincy, IL-MO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,356 | 4.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,131 | 5.25% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,975 | 4.13% |
| Hannibal, MO (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,181 | 2.50% |
| Macomb, IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,360 | 4.63% |
| Jacksonville, IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,760 | 6.63% |
| Taylorville, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,384 | 4.88% |
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 | 340 | $46,510,000 | $136,794 | $2,273 | 4.63% |
| USDA | 1 | $165,000 | $165,000 | $3,764 | 5.63% |
For 2022, 1st Midamerica's most frequently originated type of loan was Conventional, with 340 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2022, 1st Midamerica's most frequently cited loan purpose was Home Purchase, with 187 originations. The 2nd most popular reason was Cash Out Refi, with 61 originations.
Loan Duration/Length
For 2022, 1st Midamerica's most frequently cited loan duration was 30 Year, with 183 originations. The 2nd most popular length was 15 Year, with 58 originations.
Origination Fees/Closing Costs
1st Midamerica's average total fees were $2,657, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 195 originations.
Interest Rates
During 2022, 1st Midamerica's average interest rate for loans was 4.81%, while their most frequently originated rate bucket for loans was 4-5%, with 140 originations.
Loan Sizing
2022 saw 1st Midamerica place emphasis on $100,000 or less loans with 173 originations, totaling $10,545,000 in origination value.
Applicant Income
1st Midamerica lent most frequently to those with incomes in the $50k or less range, with 74 originations. The second most popular income band? $50k-75k, with 70 originations.
Applicant Debt to Income Ratio
1st Midamerica lent most frequently to those with DTI ratios of 20-30%, with 85 originations. The next most common DTI ratio? 30-36%, with 85 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.03%
1st Midamerica has an average approval rate.
Pick Rate
Approvals leading to origination73.31%
1st Midamerica has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1500.0 | 1 | $1,445,000 | $1,445,000 |
| 200.0 | 2 | $100,000 | $50,000 |
| 210.0 | 1 | $45,000 | $45,000 |
| 25.0 | 1 | $255,000 | $255,000 |
| 2500.0 | 1 | $2,165,000 | $2,165,000 |
| 350.0 | 2 | $160,000 | $80,000 |
| 393.56 | 1 | $25,000 | $25,000 |
| 500.0 | 1 | $155,000 | $155,000 |
| 523.0 | 1 | $75,000 | $75,000 |
| NA | 330 | $42,250,000 | $128,030 |