Midland States Bank Mortgage Rates, Fees & Info
Effingham, ILLEI: 549300U6DW7DX671T306
Tax ID: 37-0259550
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Mortgage Data
Review & Overview
Midland States Bank is a smaller bank specializing in Home Purchase and Refi loans. Midland States Bank 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: St. Louis, Chicago, Des Moines, Rockford, and Fayetteville among others. We have data for 59 markets. (Some data included below & more in-depth data is available with an active subscription.)Midland States Bank 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. Midland States Bank 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 6.80% | 12/16/24 |
| 30 Year Conventional Refi | 6.57% | 12/16/24 |
| 30 Year Cash-out Refi | 6.90% | 12/16/24 |
| 30 Year FHA Purchase | 7.66% | 12/16/24 |
| 30 Year FHA Refi | 7.24% | 12/16/24 |
| 30 Year VA Purchase | 6.70% | 12/16/24 |
| 30 Year USDA Purchase | 7.13% | 12/16/24 |
| 15 Year Conventional Purchase | 6.46% | 12/16/24 |
| 15 Year Conventional Refi | 6.11% | 12/16/24 |
| 15 Year Cash-out Refi | 6.11% | 12/16/24 |
| 15 Year FHA Refi | 5.68% | 12/16/24 |
| 15 Year VA Purchase | 7.93% | 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. | ||
Midland States Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,624Origination Dollar Volume (All Markets)
$495,420,000Awards
Midland States Bank - 2022
Midland States Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 179 | $79,865,000 | $446,173 | $3,694 | 3.24% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 288 | $69,600,000 | $241,667 | $5,096 | 4.41% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $37,505,000 | $37,505,000 | $0 | 4.50% |
| ROCKFORD, IL (FHA|USDA|VA) | 377 | $36,325,000 | $96,353 | $3,352 | 3.22% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 2 | $32,560,000 | $16,280,000 | $0 | 4.86% |
| KANKAKEE, IL (FHA|USDA|VA) | 278 | $28,670,000 | $103,129 | $3,445 | 3.63% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $21,505,000 | $21,505,000 | $0 | 4.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $19,005,000 | $19,005,000 | $0 | 3.75% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 100 | $16,000,000 | $160,000 | $3,477 | 4.29% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 3 | $15,855,000 | $5,285,000 | $2,420 | 5.25% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $15,635,000 | $15,635,000 | $0 | 3.80% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $14,195,000 | $14,195,000 | $0 | 4.75% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $13,225,000 | $13,225,000 | $0 | 3.75% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $12,165,000 | $12,165,000 | $0 | 4.06% |
| WACO, TX (FHA|USDA|VA) | 1 | $11,205,000 | $11,205,000 | $0 | 3.50% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $9,845,000 | $9,845,000 | $0 | 6.26% |
| Outside of Metro Areas | 76 | $8,930,000 | $117,500 | $3,378 | 4.15% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $7,875,000 | $7,875,000 | $0 | 5.50% |
| Effingham, IL (FHA|USDA|VA) | 54 | $5,980,000 | $110,741 | $4,655 | 3.77% |
| Ottawa, IL (FHA|USDA|VA) | 68 | $5,220,000 | $76,765 | $3,157 | 3.45% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $4,725,000 | $1,575,000 | $4,085 | 4.04% |
| KOKOMO, IN (FHA|USDA|VA) | 1 | $4,625,000 | $4,625,000 | $0 | 6.70% |
| Centralia, IL (FHA|USDA|VA) | 32 | $2,780,000 | $86,875 | $3,593 | 3.90% |
| Whitewater, WI (FHA|USDA|VA) | 2 | $2,630,000 | $1,315,000 | $3,120 | 4.69% |
| Sterling, IL (FHA|USDA|VA) | 25 | $1,795,000 | $71,800 | $3,359 | 4.08% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 13 | $1,785,000 | $137,308 | $4,429 | 4.44% |
| Dixon, IL (FHA|USDA|VA) | 34 | $1,740,000 | $51,176 | $3,079 | 2.74% |
| Pontiac, IL (FHA|USDA|VA) | 11 | $1,455,000 | $132,273 | $2,732 | 3.89% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $1,145,000 | $1,145,000 | $5,125 | 4.75% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 3 | $1,095,000 | $365,000 | $0 | 4.08% |
| Rochelle, IL (FHA|USDA|VA) | 12 | $970,000 | $80,833 | $4,950 | 3.02% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $885,000 | $885,000 | $7,463 | 4.25% |
| Freeport, IL (FHA|USDA|VA) | 10 | $810,000 | $81,000 | $4,378 | 3.80% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $2,192 | 3.62% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $4,134 | 4.94% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $1,478 | 3.25% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $3,614 | 4.83% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $3,091 | 3.94% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $4,377 | 5.88% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,257 | 4.00% |
| DANVILLE, IL (FHA|USDA|VA) | 4 | $390,000 | $97,500 | $5,122 | 4.15% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,326 | 5.63% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 3.25% |
| TOLEDO, OH (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $0 | 5.08% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 3.25% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 4 | $270,000 | $67,500 | $2,754 | 3.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,475 | 6.38% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,880 | 6.38% |
| FLINT, MI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,692 | 6.13% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,019 | 2.38% |
| Oxford, MS (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,220 | 4.50% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,244 | 5.25% |
| Taylorville, IL (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $6,907 | 2.94% |
| DECATUR, IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,496 | 6.13% |
| PEORIA, IL (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $3,994 | 7.13% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,448 | 3.75% |
| Mount Vernon, IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,103 | 3.25% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,059 | 6.13% |
| Poplar Bluff, MO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,585 | 4.00% |
Similar Lenders
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Product Mix
For 2022, Midland States Bank's most frequently originated type of loan was Conventional, with 894 originations. Their 2nd most popular type was HELOC, with 585 originations.
Loan Reason
For 2022, Midland States Bank's most frequently cited loan purpose was Home Purchase, with 761 originations. The 2nd most popular reason was Refi, with 388 originations.
Loan Duration/Length
For 2022, Midland States Bank's most frequently cited loan duration was 30 Year, with 710 originations. The 2nd most popular length was 10 Year, with 622 originations.
Origination Fees/Closing Costs
Midland States Bank's average total fees were $4,371, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 479 originations.
Interest Rates
During 2022, Midland States Bank's average interest rate for loans was 5.10%, while their most frequently originated rate bucket for loans was <2.5%, with 484 originations.
Loan Sizing
2022 saw Midland States Bank place emphasis on $100,000 or less loans with 835 originations, totaling $38,465,000 in origination value.
Applicant Income
Midland States Bank lent most frequently to those with incomes in the $50k-75k range, with 409 originations. The second most popular income band? $50k or less, with 340 originations.
Applicant Debt to Income Ratio
Midland States Bank lent most frequently to those with DTI ratios of 20-30%, with 358 originations. The next most common DTI ratio? 30-36%, with 285 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.85%
Midland States Bank has a below average approval rate.
Pick Rate
Approvals leading to origination79.99%
Midland States Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,624 | $495,420,000 | $305,062 |