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 Cash Out Refi, Home Purchase, and Refi loans. Mid American has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Wichita, Kansas City, Lawrence, Winfield, and Hutchinson among others. We have data for 10 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. 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% 12/16/24
    30 Year Cash-out Refi 6.90% 12/16/24
    15 Year Conventional Purchase 7.00% 12/16/24
    15 Year Conventional Refi 6.47% 12/16/24
    15 Year Cash-out Refi 6.47% 12/16/24
    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

    230

    Origination Dollar Volume (All Markets)

    $27,330,000

    Awards

    MID AMERICAN 30 Year Conventional Loans gold MID AMERICAN 30 Year Conventional Loans gold
    Show all (2) 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) 198 $22,880,000 $115,556 $1,420 3.79%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 9 $1,495,000 $166,111 $2,789 3.11%
    LAWRENCE, KS (FHA|USDA|VA) 5 $935,000 $187,000 $1,943 3.28%
    Winfield, KS (FHA|USDA|VA) 5 $535,000 $107,000 $1,822 2.88%
    Outside of Metro Areas 4 $500,000 $125,000 $1,982 3.13%
    Hutchinson, KS (FHA|USDA|VA) 3 $465,000 $155,000 $1,571 2.83%
    TOPEKA, KS (FHA|USDA|VA) 3 $255,000 $85,000 $1,584 4.21%
    Fremont, NE (FHA|USDA|VA) 1 $135,000 $135,000 $2,342 3.13%
    Pittsburg, KS (FHA|USDA|VA) 1 $95,000 $95,000 $1,664 3.13%
    McPherson, KS (FHA|USDA|VA) 1 $35,000 $35,000 $437 5.25%
    Mid American's top markets include Wichita, Kansas City, Lawrence, Winfield, and Hutchinson among others.

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

    GOLDEN PLAINS
    Similarity Rank: 136
    Members Mortgage Services, L.L.C.
    Similarity Rank: 220
    SKYWARD
    Similarity Rank: 240
    PANHANDLE FEDERAL CREDIT UNION
    Similarity Rank: 264
    Central National Bank
    Similarity Rank: 363
    MID AMERICAN
    Similarity Rank: 500
    Wichita Federal Credit Union
    Similarity Rank: 553
    HOME BANK AND TRUST COMPANY
    Similarity Rank: 560
    Intrust Bank
    Similarity Rank: 946
    CREDIT UNION OF AMERICA
    Similarity Rank: 1020

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 229 $27,275,000 $119,105 $1,508 3.72%
    FHA 1 $55,000 $55,000 $1,557 3.00%

    For 2021, Mid American's most frequently originated type of loan was Conventional, with 229 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 67 $9,165,000 $136,791 $1,652 3.05%
    Home Purchase 62 $9,650,000 $155,645 $2,012 4.00%
    Refi 50 $6,250,000 $125,000 $1,539 2.76%
    Home Improvement 41 $1,785,000 $43,537 $675 5.23%
    Other 10 $480,000 $48,000 $689 5.00%

    For 2021, Mid American's most frequently cited loan purpose was Cash Out Refi, with 67 originations. The 2nd most popular reason was Home Purchase, with 62 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 76 $12,950,000 $170,395 $2,057 3.19%
    15 Year 68 $8,610,000 $126,618 $1,602 3.25%
    10 Year 32 $1,820,000 $56,875 $957 4.52%
    20 Year 22 $3,050,000 $138,636 $1,625 3.39%
    Other 17 $505,000 $29,706 $381 6.13%
    5 Year 15 $395,000 $26,333 $585 4.53%

    For 2021, Mid American's most frequently cited loan duration was 30 Year, with 76 originations. The 2nd most popular length was 15 Year, with 68 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 224 $26,780,000 $119,554
    $1k-2k 2 $200,000 $100,000

    Mid American's average total fees were $2,057, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 224 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 77 $11,265,000 $146,299
    3-4% 64 $9,970,000 $155,781
    <2.5% 26 $3,500,000 $134,615
    5-6% 24 $1,410,000 $58,750
    4-5% 24 $700,000 $29,167
    Over 8% 7 $175,000 $25,000
    6-7% 5 $175,000 $35,000
    7-8% 3 $135,000 $45,000

    During 2021, Mid American's average interest rate for loans was 3.19%, while their most frequently originated rate bucket for loans was 2.5-3%, with 77 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 117 $6,075,000 $51,923 $1,034 4.37%
    $100k-200k 75 $10,925,000 $145,667 $1,850 3.07%
    $200k-400k 37 $9,855,000 $266,351 $2,292 2.96%
    $400k-600k 1 $475,000 $475,000 $2,311 3.00%

    2021 saw Mid American place emphasis on $100,000 or less loans with 117 originations, totaling $6,075,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 58 $7,570,000 $130,517 $1,352 3.64%
    $50k-75k 56 $6,080,000 $108,571 $1,768 3.63%
    $50k or less 45 $2,955,000 $65,667 $1,217 4.28%
    $75k-100k 45 $5,815,000 $129,222 $1,623 3.45%
    $150k-250k 15 $2,325,000 $155,000 $1,554 3.73%
    $250k+ 11 $2,585,000 $235,000 $1,674 3.34%

    Mid American lent most frequently to those with incomes in the $100k-150k range, with 58 originations. The second most popular income band? $50k-75k, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 68 $7,140,000 $105,000 $1,299 3.84%
    30-36% 42 $5,910,000 $140,714 $1,769 3.27%
    <20% 25 $2,935,000 $117,400 $1,418 3.75%
    40% 9 $1,225,000 $136,111 $1,644 3.44%
    39% 9 $1,155,000 $128,333 $1,886 3.17%
    42% 8 $620,000 $77,500 $1,224 3.83%
    36% 8 $1,050,000 $131,250 $1,682 3.23%
    41% 8 $920,000 $115,000 $1,667 3.33%
    50-60% 8 $710,000 $88,750 $907 4.70%
    38% 7 $925,000 $132,143 $1,367 4.39%
    37% 7 $1,075,000 $153,571 $1,623 3.73%
    43% 6 $1,000,000 $166,667 $1,946 3.44%
    49% 6 $730,000 $121,667 $3,005 3.58%
    46% 6 $640,000 $106,667 $1,332 4.40%
    45% 5 $915,000 $183,000 $1,699 3.35%
    48% 3 $135,000 $45,000 $495 5.04%
    >60% 2 $130,000 $65,000 $887 6.50%
    47% 2 $80,000 $40,000 $1,122 3.88%
    44% 1 $35,000 $35,000 $617 4.50%

    Mid American lent most frequently to those with DTI ratios of 20-30%, with 68 originations. The next most common DTI ratio? 30-36%, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 216 $26,030,000 $120,509 $1,503 3.71%
    Asian 5 $675,000 $135,000 $1,653 3.08%
    Black 7 $535,000 $76,429 $1,768 3.68%
    American Indian 2 $90,000 $45,000 $778 6.00%

    Approval Rates

    Total approvals of all applications
    93.24%

    Mid American has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.00%

    Mid American has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 230 $27,330,000 $118,826

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    230 $27,330,000 $118,826

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $1,670,000 $64,231 $1,046 4.61%
    40-60% 37 $4,415,000 $119,324 $1,556 3.14%
    60-80% 75 $10,885,000 $145,133 $1,715 3.03%
    80-100% 60 $9,440,000 $157,333 $1,874 4.06%
    Under 20% 32 $920,000 $28,750 $659 4.61%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    MidAmerica Mortgage Inc Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 3.8%
    MidAmerica Mortgage Inc Conventional home mortgage Trouble during payment process 6 11.5%
    MidAmerica Mortgage Inc FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 3.8%
    MidAmerica Mortgage Inc FHA mortgage Closing on a mortgage 1 1.9%
    MidAmerica Mortgage Inc FHA mortgage Incorrect information on your report 5 9.6%
    MidAmerica Mortgage Inc FHA mortgage Struggling to pay mortgage 6 11.5%
    MidAmerica Mortgage Inc FHA mortgage Trouble during payment process 14 26.9%
    MidAmerica Mortgage Inc Other type of mortgage Struggling to pay mortgage 1 1.9%
    MidAmerica Mortgage Inc Other type of mortgage Trouble during payment process 2 3.8%
    MidAmerica Mortgage Inc VA mortgage Incorrect information on your report 1 1.9%
    MidAmerica Mortgage Inc VA mortgage Struggling to pay mortgage 5 9.6%
    MidAmerica Mortgage Inc VA mortgage Trouble during payment process 7 13.5%