Mid American Mortgage Rates, Fees & Info

Wichita, KS

LEI: 549300P5F47MW3AQ2048

Tax ID: 48-0542669

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

    Mid American is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Mid American has a high proportion of conventional loans. Their top markets by origination volume include: Wichita, Hutchinson, Lawrence, Kansas City, and Winfield among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mid American 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. Mid American 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.95% 5/13/24
    30 Year Cash-out Refi 6.90% 5/13/24
    15 Year Conventional Purchase 7.00% 5/13/24
    15 Year Conventional Refi 6.47% 5/13/24
    15 Year Cash-out Refi 6.47% 5/13/24
    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.

    Mid American Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Mid American. 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

    188

    Origination Dollar Volume (All Markets)

    $18,910,000

    Awards

    MID AMERICAN 30 Year Conventional Loans gold MID AMERICAN 30 Year Conventional Loans gold MID AMERICAN 30 Year Conventional Loans bronze
    Show all (3) 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
    WICHITA, KS (FHA|USDA|VA) 150 $15,030,000 $100,200 $1,255 4.74%
    Hutchinson, KS (FHA|USDA|VA) 11 $1,665,000 $151,364 $1,893 3.99%
    LAWRENCE, KS (FHA|USDA|VA) 6 $730,000 $121,667 $1,141 4.23%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $525,000 $105,000 $1,175 4.90%
    Winfield, KS (FHA|USDA|VA) 11 $445,000 $40,455 $1,274 4.68%
    Outside of Metro Areas 2 $260,000 $130,000 $1,668 5.25%
    TOPEKA, KS (FHA|USDA|VA) 2 $160,000 $80,000 $1,527 4.38%
    Emporia, KS (FHA|USDA|VA) 1 $95,000 $95,000 $1,779 3.50%
    Mid American's top markets include Wichita, Hutchinson, Lawrence, Kansas City, and Winfield among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against MID AMERICAN based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    HOME BANK AND TRUST COMPANY
    Similarity Rank: 90
    MID AMERICAN
    Similarity Rank: 128
    SKYWARD
    Similarity Rank: 148
    PANHANDLE FEDERAL CREDIT UNION
    Similarity Rank: 212
    Wichita Federal Credit Union
    Similarity Rank: 275
    Emprise Bank
    Similarity Rank: 294
    GOLDEN PLAINS
    Similarity Rank: 304
    CREDIT UNION OF AMERICA
    Similarity Rank: 450
    HEARTLAND CREDIT UNION
    Similarity Rank: 480
    MERITRUST Federal Credit Union
    Similarity Rank: 532

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 185 $18,555,000 $100,297 $1,300 4.63%
    HELOC 3 $355,000 $118,333 n/a 7.33%

    For 2019, Mid American's most frequently originated type of loan was Conventional, with 185 originations. Their 2nd most popular type was HELOC, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 56 $7,570,000 $135,179 $1,798 4.53%
    Home Improvement 54 $2,420,000 $44,815 $676 5.38%
    Cash Out Refi 32 $4,370,000 $136,563 $1,653 4.23%
    Other 23 $915,000 $39,783 $694 5.15%
    Refi 23 $3,635,000 $158,043 $1,686 3.56%

    For 2019, Mid American's most frequently cited loan purpose was Home Purchase, with 56 originations. The 2nd most popular reason was Home Improvement, with 54 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 62 $10,340,000 $166,774 $1,795 4.11%
    10 Year 44 $2,240,000 $50,909 $853 5.32%
    15 Year 28 $3,310,000 $118,214 $1,875 3.87%
    5 Year 21 $815,000 $38,810 $669 4.65%
    Other 20 $650,000 $32,500 $610 5.44%
    20 Year 13 $1,555,000 $119,615 $1,336 5.81%

    For 2019, Mid American's most frequently cited loan duration was 30 Year, with 62 originations. The 2nd most popular length was 10 Year, with 44 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 168 $16,470,000 $98,036
    $1k-2k 2 $260,000 $130,000
    $2k-3k 1 $175,000 $175,000
    $4k-5k 1 $165,000 $165,000

    Mid American's average total fees were $1,795, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 168 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 66 $10,220,000 $154,848
    4-5% 55 $4,065,000 $73,909
    5-6% 38 $2,050,000 $53,947
    7-8% 9 $695,000 $77,222
    6-7% 8 $530,000 $66,250
    2.5-3% 7 $1,175,000 $167,857
    Over 8% 5 $175,000 $35,000

    During 2019, Mid American's average interest rate for loans was 4.11%, while their most frequently originated rate bucket for loans was 3-4%, with 66 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 113 $5,015,000 $44,381 $986 5.07%
    $100k-200k 53 $7,475,000 $141,038 $1,706 4.09%
    $200k-400k 20 $5,610,000 $280,500 $1,902 4.13%
    $400k-600k 2 $810,000 $405,000 $2,053 3.50%

    2019 saw Mid American place emphasis on $100,000 or less loans with 113 originations, totaling $5,015,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 45 $3,495,000 $77,667 $1,241 4.57%
    $50k or less 45 $3,075,000 $68,333 $1,360 5.05%
    $100k-150k 43 $4,325,000 $100,581 $1,178 4.63%
    $75k-100k 28 $2,910,000 $103,929 $1,329 4.61%
    $150k-250k 20 $3,430,000 $171,500 $1,313 4.28%
    $250k+ 7 $1,675,000 $239,286 $1,892 4.70%

    Mid American lent most frequently to those with incomes in the $50k-75k range, with 45 originations. The second most popular income band? $50k or less, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 50 $5,080,000 $101,600 $1,226 4.75%
    30-36% 28 $3,410,000 $121,786 $1,328 4.82%
    <20% 21 $1,655,000 $78,810 $1,389 4.21%
    45% 13 $1,085,000 $83,462 $1,178 4.83%
    42% 12 $1,250,000 $104,167 $1,467 4.54%
    36% 8 $1,050,000 $131,250 $1,494 4.50%
    50-60% 8 $600,000 $75,000 $1,024 5.72%
    44% 7 $455,000 $65,000 $1,208 4.79%
    38% 5 $685,000 $137,000 $1,444 4.08%
    39% 5 $495,000 $99,000 $1,452 4.63%
    48% 4 $330,000 $82,500 $1,258 4.35%
    37% 4 $230,000 $57,500 $1,153 4.34%
    41% 4 $430,000 $107,500 $1,769 4.06%
    40% 4 $520,000 $130,000 $1,237 4.25%
    47% 4 $560,000 $140,000 $1,190 4.75%
    43% 3 $245,000 $81,667 $1,170 4.50%
    49% 3 $255,000 $85,000 $1,234 5.21%
    46% 2 $50,000 $25,000 $557 5.00%
    >60% 2 $500,000 $250,000 $2,188 3.75%

    Mid American lent most frequently to those with DTI ratios of 20-30%, with 50 originations. The next most common DTI ratio? 30-36%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 180 $18,270,000 $101,500 $1,303 4.68%
    Asian 2 $330,000 $165,000 $1,924 4.31%
    Black 5 $255,000 $51,000 $1,068 4.80%
    American Indian 1 $55,000 $55,000 $673 4.50%

    Approval Rates

    Total approvals of all applications
    84.87%

    Mid American has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    77.66%

    Mid American has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 188 $18,910,000 $100,585

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $350,000 $43,750
    Single Family (1-4 Units):Site-Built 180 $18,560,000 $103,111

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 30 $1,500,000 $50,000 $809 5.10%
    40-60% 26 $2,240,000 $86,154 $1,457 4.10%
    60-80% 39 $5,805,000 $148,846 $1,619 4.18%
    80-100% 53 $7,935,000 $149,717 $1,842 4.65%
    Under 20% 40 $1,430,000 $35,750 $607 5.26%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    MidAmerica Mortgage Inc Conventional home mortgage Trouble during payment process 6 28.6%
    MidAmerica Mortgage Inc FHA mortgage Struggling to pay mortgage 3 14.3%
    MidAmerica Mortgage Inc FHA mortgage Trouble during payment process 3 14.3%
    MidAmerica Mortgage Inc Other type of mortgage Trouble during payment process 2 9.5%
    MidAmerica Mortgage Inc VA mortgage Struggling to pay mortgage 1 4.8%
    MidAmerica Mortgage Inc VA mortgage Trouble during payment process 6 28.6%