Midwest Bankcentre Mortgage Rates, Fees & Info
Saint Louis, MOLEI: 549300OR2C7AGDZFTS24
Tax ID: 43-0368910
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Mortgage Data
Review & Overview
Midwest Bankcentre is a smaller bank specializing in Home Purchase loans. Midwest Bankcentre has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: St. Louis, Nashville, Denver, Steamboat Springs, and Chicago among others. We have data for 37 markets. (Some data included below & more in-depth data is available with an active subscription.)Midwest Bankcentre has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Midwest Bankcentre 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.55% | 11/17/24 |
| 30 Year Conventional Refi | 6.23% | 11/17/24 |
| 30 Year Cash-out Refi | 6.21% | 11/17/24 |
| 30 Year FHA Purchase | 7.02% | 11/17/24 |
| 30 Year FHA Refi | 6.63% | 11/17/24 |
| 30 Year VA Purchase | 6.18% | 11/17/24 |
| 15 Year Conventional Purchase | 5.94% | 11/17/24 |
| 15 Year Conventional Refi | 5.78% | 11/17/24 |
| 15 Year Cash-out Refi | 5.78% | 11/17/24 |
| 15 Year FHA Refi | 5.68% | 11/17/24 |
| 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. | ||
Midwest Bankcentre Mortgage Calculator
Your Estimates
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This is not an official calculator from Midwest Bankcentre. 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
474Origination Dollar Volume (All Markets)
$128,500,000Awards
Midwest BankCentre - 2023
Midwest BankCentre is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Midwest Bankcentre's average 30 year fixed mortgage rate was
6.77%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.29%.
Relative Fees (Closing Costs)
Midwest Bankcentre's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,805.
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) | 418 | $104,750,000 | $250,598 | $3,443 | 6.97% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 7 | $2,355,000 | $336,429 | $5,157 | 6.85% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $2,305,000 | $2,305,000 | $5,716 | 7.25% |
| Steamboat Springs, CO (FHA|USDA|VA) | 1 | $1,525,000 | $1,525,000 | $0 | 6.85% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 6 | $1,490,000 | $248,333 | $4,906 | 6.83% |
| Outside of Metro Areas | 6 | $1,340,000 | $223,333 | $3,132 | 6.92% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $1,200,000 | $600,000 | $3,103 | 7.25% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $1,065,000 | $1,065,000 | $6,296 | 7.25% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $1,055,000 | $1,055,000 | $5,883 | 7.99% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $975,000 | $975,000 | $7,553 | 6.88% |
| Ludington, MI (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $2,149 | 6.79% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $5,047 | 6.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $7,362 | 6.75% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $4,645 | 6.50% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $3,964 | 7.13% |
| READING, PA (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $6,108 | 6.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $5,098 | 7.38% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $7,728 | 6.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $3,727 | 7.38% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $4,227 | 6.25% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $2,232 | 7.38% |
| Shelbyville, TN (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $6,244 | 6.75% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $13,176 | 5.75% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $10,359 | 6.63% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,511 | 6.81% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,620 | 6.50% |
| Lewisburg, TN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $13,624 | 5.75% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,365 | 7.00% |
| LaGrange, GA-AL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,534 | 6.99% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,908 | 6.88% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,747 | 7.38% |
| McMinnville, TN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,997 | 6.50% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 6.70% |
| Hannibal, MO (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,069 | 6.75% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,320 | 5.63% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,466 | 6.88% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $395 | 8.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Midwest BankCentre based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 46
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 402 | $113,470,000 | $282,264 | $2,976 | 7.07% |
| FHA | 56 | $11,250,000 | $200,893 | $6,395 | 6.27% |
| VA | 16 | $3,780,000 | $236,250 | $5,797 | 6.53% |
For 2023, Midwest Bankcentre's most frequently originated type of loan was Conventional, with 402 originations. Their 2nd most popular type was FHA, with 56 originations.
Loan Reason
For 2023, Midwest Bankcentre's most frequently cited loan purpose was Home Purchase, with 384 originations. The 2nd most popular reason was Cash Out Refi, with 38 originations.
Loan Duration/Length
For 2023, Midwest Bankcentre's most frequently cited loan duration was 30 Year, with 359 originations. The 2nd most popular length was 5 Year, with 54 originations.
Origination Fees/Closing Costs
Midwest Bankcentre's average total fees were $3,805, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 321 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 220 | $65,910,000 | $299,591 |
| 7-8% | 144 | $40,770,000 | $283,125 |
| 5-6% | 62 | $12,790,000 | $206,290 |
| Over 8% | 47 | $8,565,000 | $182,234 |
| 4-5% | 1 | $465,000 | $465,000 |
During 2023, Midwest Bankcentre's average interest rate for loans was 6.77%, while their most frequently originated rate bucket for loans was 6-7%, with 220 originations.
Loan Sizing
2023 saw Midwest Bankcentre place emphasis on $200k-400k loans with 156 originations, totaling $42,630,000 in origination value.
Applicant Income
Midwest Bankcentre lent most frequently to those with incomes in the $50k or less range, with 101 originations. The second most popular income band? $50k-75k, with 74 originations.
Applicant Debt to Income Ratio
Midwest Bankcentre lent most frequently to those with DTI ratios of 30-36%, with 65 originations. The next most common DTI ratio? 20-30%, with 56 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.38%
Midwest Bankcentre has an average approval rate.
Pick Rate
Approvals leading to origination80.38%
Midwest Bankcentre has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 474 | $128,500,000 | $271,097 |