Midwest Bankcentre Mortgage Rates, Fees & Info

Saint Louis, MO

LEI: 549300OR2C7AGDZFTS24

Tax ID: 43-0368910

5 stars - Updated: 4/26/24 - out of 5 stars, based on 22 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    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.

    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 6.55% 4/26/24
    30 Year Conventional Refi 6.23% 4/26/24
    30 Year Cash-out Refi 6.21% 4/26/24
    30 Year FHA Purchase 7.02% 4/26/24
    30 Year FHA Refi 6.63% 4/26/24
    30 Year VA Purchase 6.18% 4/26/24
    15 Year Conventional Purchase 5.94% 4/26/24
    15 Year Conventional Refi 5.78% 4/26/24
    15 Year Cash-out Refi 5.78% 4/26/24
    15 Year FHA Refi 5.68% 4/26/24
    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

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    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

    474

    Origination Dollar Volume (All Markets)

    $128,500,000
    Show all (8) awards

    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%
    Midwest Bankcentre's top markets include St. Louis, Nashville, Denver, Steamboat Springs, and Chicago among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • 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.

    First Savings Bank of Hegewisch
    Similarity Rank: 46
    Eglin Federal Credit Union
    Similarity Rank: 74
    MORTGAGE ONE OF THE SOUTH, INC.
    Similarity Rank: 93
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 96
    Liberty Bank for Savings
    Similarity Rank: 279
    MAINSTREET FEDERAL CREDIT UNION
    Similarity Rank: 280
    1ST MIDAMERICA
    Similarity Rank: 286
    FIRST COMMUNITY
    Similarity Rank: 336
    First National Bank of Waterloo
    Similarity Rank: 340
    United Bank of Union
    Similarity Rank: 360

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 384 $107,220,000 $279,219 $3,963 6.92%
    Cash Out Refi 38 $11,410,000 $300,263 $2,791 6.94%
    Home Improvement 30 $4,330,000 $144,333 $1,610 7.33%
    Refi 13 $4,545,000 $349,615 $2,207 6.94%
    Other 9 $995,000 $110,556 $2,762 7.59%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 359 $90,435,000 $251,908 $3,805 6.77%
    5 Year 54 $20,960,000 $388,148 $0 7.33%
    15 Year 25 $3,585,000 $143,400 $1,156 7.41%
    1 Year 21 $7,745,000 $368,810 $0 8.29%
    3 Year 7 $2,825,000 $403,571 $0 7.72%
    Other 3 $1,825,000 $608,333 $0 8.33%
    20 Year 3 $1,085,000 $361,667 $6,647 6.36%
    10 Year 2 $40,000 $20,000 $0 8.21%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 321 $77,435,000 $241,231
    $1k-2k 27 $9,535,000 $353,148
    $2k-3k 7 $2,405,000 $343,571
    $3k-4k 4 $2,250,000 $562,500
    $5k+ 2 $730,000 $365,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 156 $42,630,000 $273,269 $4,250 6.99%
    $100k-200k 145 $20,445,000 $141,000 $3,227 6.82%
    $100,000 or less 97 $6,235,000 $64,278 $2,033 7.13%
    $400k-600k 40 $19,450,000 $486,250 $5,332 6.94%
    $600k-1MM 25 $18,125,000 $725,000 $4,389 6.82%
    $1MM+ 11 $21,615,000 $1,965,000 $5,473 7.23%

    2023 saw Midwest Bankcentre place emphasis on $200k-400k loans with 156 originations, totaling $42,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 101 $11,305,000 $111,931 $2,916 6.67%
    $50k-75k 74 $12,950,000 $175,000 $3,704 6.74%
    $100k-150k 70 $16,830,000 $240,429 $4,203 6.90%
    $250k+ 50 $29,320,000 $586,400 $3,837 6.88%
    $150k-250k 48 $16,410,000 $341,875 $4,023 7.04%
    $75k-100k 48 $9,180,000 $191,250 $3,714 7.02%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 65 $17,165,000 $264,077 $3,324 6.82%
    20-30% 56 $14,770,000 $263,750 $3,226 6.74%
    42% 29 $6,785,000 $233,966 $3,094 7.03%
    <20% 26 $8,050,000 $309,615 $3,158 6.75%
    41% 23 $4,465,000 $194,130 $3,106 6.95%
    49% 22 $5,990,000 $272,273 $4,759 6.82%
    37% 22 $5,310,000 $241,364 $2,929 6.94%
    39% 21 $4,335,000 $206,429 $3,561 6.83%
    50-60% 20 $4,310,000 $215,500 $5,893 6.63%
    36% 19 $3,905,000 $205,526 $2,428 7.10%
    40% 17 $3,695,000 $217,353 $3,960 7.23%
    44% 12 $2,250,000 $187,500 $3,447 6.73%
    38% 12 $1,630,000 $135,833 $3,120 6.93%
    46% 11 $2,055,000 $186,818 $4,137 6.42%
    47% 10 $3,630,000 $363,000 $5,697 6.72%
    48% 10 $2,490,000 $249,000 $4,508 6.71%
    45% 9 $3,275,000 $363,889 $4,568 6.87%
    43% 9 $2,425,000 $269,444 $3,957 6.43%
    >60% 4 $740,000 $185,000 $6,051 7.04%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 299 $78,395,000 $262,191 $3,464 6.83%
    Not applicable 76 $31,170,000 $410,132 $0 7.60%
    Black 46 $8,300,000 $180,435 $4,895 6.77%
    Not provided 35 $7,065,000 $201,857 $3,546 6.97%
    Asian 16 $3,140,000 $196,250 $3,477 6.81%
    Native Hawaiian or Islander 1 $275,000 $275,000 $8,134 6.50%
    Asian Indian 1 $155,000 $155,000 $0 7.13%

    Approval Rates

    Total approvals of all applications
    92.38%

    Midwest Bankcentre has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.38%

    Midwest Bankcentre has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 474 $128,500,000 $271,097

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    474 $128,500,000 $271,097

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $4,760,000 $183,077 $1,782 6.97%
    40-60% 51 $21,415,000 $419,902 $2,890 6.96%
    60-80% 147 $48,705,000 $331,327 $3,845 7.09%
    80-100% 226 $51,720,000 $228,850 $3,982 6.80%
    Over 100% 3 $645,000 $215,000 $7,981 6.25%
    Under 20% 21 $1,255,000 $59,762 $677 7.90%