Mid American Mortgage Rates, Fees & Info
Wichita, KSLEI: 549300P5F47MW3AQ2048
Tax ID: 48-0542669
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Mortgage Data
Review & Overview
Mid American is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Mid American has a high proportion of conventional loans. Their top markets by origination volume include: Wichita, Kansas City, Hutchinson, Winfield, and Lawrence among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Mid American 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.
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 | 6.95% | 11/17/24 |
| 30 Year Cash-out Refi | 6.90% | 11/17/24 |
| 15 Year Conventional Purchase | 7.00% | 11/17/24 |
| 15 Year Conventional Refi | 6.47% | 11/17/24 |
| 15 Year Cash-out Refi | 6.47% | 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. | ||
Mid American Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
277Origination Dollar Volume (All Markets)
$36,275,000Top 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) | 232 | $30,220,000 | $130,259 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 6 | $1,350,000 | $225,000 | $0 | 0.00% |
| Hutchinson, KS (FHA|USDA|VA) | 8 | $1,250,000 | $156,250 | $0 | 0.00% |
| Winfield, KS (FHA|USDA|VA) | 8 | $1,040,000 | $130,000 | $0 | 0.00% |
| Outside of Metro Areas | 12 | $880,000 | $73,333 | $0 | 0.00% |
| LAWRENCE, KS (FHA|USDA|VA) | 5 | $765,000 | $153,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| Ottawa, KS (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| McPherson, KS (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Coffeyville, KS (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| PUEBLO, CO (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 277 | $36,275,000 | $130,957 | $0 | 0.00% |
For 2020, Mid American's most frequently originated type of loan was Conventional, with 277 originations.
Loan Reason
For 2020, Mid American's most frequently cited loan purpose was Refi, with 90 originations. The 2nd most popular reason was Home Purchase, with 75 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 277 | $36,275,000 | $130,957 | $0 | 0.00% |
For 2020, Mid American's most frequently cited loan duration was Other, with 277 originations.
Loan Sizing
2020 saw Mid American place emphasis on $100,000 or less loans with 122 originations, totaling $6,560,000 in origination value.
Applicant Income
Mid American lent most frequently to those with incomes in the $100k-150k range, with 77 originations. The second most popular income band? $50k-75k, with 64 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 277 | $36,275,000 | $130,957 | $0 | 0.00% |
Mid American lent most frequently to those with DTI ratios of Exempt%, with 277 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.58%
Mid American has an average approval rate.
Pick Rate
Approvals leading to origination70.40%
Mid American has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 277 | $36,275,000 | $130,957 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 9 | $315,000 | $35,000 |
| Single Family (1-4 Units):Site-Built | 268 | $35,960,000 | $134,179 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MidAmerica Mortgage Inc | Conventional home mortgage | Struggling to pay mortgage | 3 | 5.4% |
| MidAmerica Mortgage Inc | Conventional home mortgage | Trouble during payment process | 8 | 14.3% |
| MidAmerica Mortgage Inc | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 1.8% |
| MidAmerica Mortgage Inc | FHA mortgage | Closing on a mortgage | 1 | 1.8% |
| MidAmerica Mortgage Inc | FHA mortgage | Incorrect information on your report | 1 | 1.8% |
| MidAmerica Mortgage Inc | FHA mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 1.8% |
| MidAmerica Mortgage Inc | FHA mortgage | Struggling to pay mortgage | 1 | 1.8% |
| MidAmerica Mortgage Inc | FHA mortgage | Trouble during payment process | 9 | 16.1% |
| MidAmerica Mortgage Inc | FHA mortgage | Unable to get your credit report or credit score | 1 | 1.8% |
| MidAmerica Mortgage Inc | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 3.6% |
| MidAmerica Mortgage Inc | Other type of mortgage | Closing on a mortgage | 1 | 1.8% |
| MidAmerica Mortgage Inc | Other type of mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 1.8% |
| MidAmerica Mortgage Inc | Other type of mortgage | Struggling to pay mortgage | 1 | 1.8% |
| MidAmerica Mortgage Inc | Other type of mortgage | Trouble during payment process | 6 | 10.7% |
| MidAmerica Mortgage Inc | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 1.8% |
| MidAmerica Mortgage Inc | VA mortgage | Closing on a mortgage | 1 | 1.8% |
| MidAmerica Mortgage Inc | VA mortgage | Struggling to pay mortgage | 6 | 10.7% |
| MidAmerica Mortgage Inc | VA mortgage | Trouble during payment process | 11 | 19.6% |