Midwest Members Credit Union Mortgage Rates, Fees & Info

Wood River, IL

LEI: 549300PM3R14MRQSOJ39

Tax ID: 37-0661473

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Members Credit Union is a smaller credit union specializing in Refi and Home Improvement loans. Midwest Members Credit Union has a high proportion of conventional loans. Their top (well, only) market is St. Louis.

    Midwest Members Credit Union 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.

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    Originations

    34

    Origination Dollar Volume (All Markets)

    $1,210,000

    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) 34 $1,210,000 $35,588 $0 0.00%
    Midwest Members Credit Union's top markets include and St. Louis among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 34 $1,210,000 $35,588 $0 0.00%

    For 2019, Midwest Members Credit Union's most frequently originated type of loan was Conventional, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 25 $825,000 $33,000 $0 0.00%
    Home Improvement 9 $385,000 $42,778 $0 0.00%

    For 2019, Midwest Members Credit Union's most frequently cited loan purpose was Refi, with 25 originations. The 2nd most popular reason was Home Improvement, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 34 $1,210,000 $35,588 $0 0.00%

    For 2019, Midwest Members Credit Union's most frequently cited loan duration was Other, with 34 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 34 $1,210,000 $35,588 $0 0.00%

    2019 saw Midwest Members Credit Union place emphasis on $100,000 or less loans with 34 originations, totaling $1,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 13 $435,000 $33,462 $0 0.00%
    $100k-150k 6 $250,000 $41,667 $0 0.00%
    $50k or less 6 $200,000 $33,333 $0 0.00%
    $75k-100k 5 $155,000 $31,000 $0 0.00%
    $150k-250k 3 $85,000 $28,333 $0 0.00%
    $250k+ 1 $85,000 $85,000 $0 0.00%

    Midwest Members Credit Union lent most frequently to those with incomes in the $50k-75k range, with 13 originations. The second most popular income band? $100k-150k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 34 $1,210,000 $35,588 $0 0.00%

    Midwest Members Credit Union lent most frequently to those with DTI ratios of Exempt%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 32 $1,140,000 $35,625 $0 0.00%
    Black 2 $70,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    79.17%

    Midwest Members Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    88.24%

    Midwest Members Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 34 $1,210,000 $35,588

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 34 $1,210,000 $35,588

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    MIDWEST EQUITY MORTGAGE, LLC FHA mortgage Closing on a mortgage 1 100.0%