Midamerica National Bank Mortgage Rates, Fees & Info
Canton, ILLEI: 549300Z4ZK628DTL4L52
Tax ID: 37-0435170
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Mortgage Data
Review & Overview
Midamerica National Bank is a smaller bank specializing in Home Purchase loans. Midamerica National 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.) Their top markets by origination volume include: Peoria, Macomb, Cullowhee, Chicago, and Ottawa among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)Midamerica National 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.
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Originations
147Origination Dollar Volume (All Markets)
$18,675,000Top 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 |
|---|---|---|---|---|---|
| PEORIA, IL (FHA|USDA|VA) | 96 | $11,200,000 | $116,667 | $0 | 0.00% |
| Macomb, IL (FHA|USDA|VA) | 30 | $3,600,000 | $120,000 | $0 | 0.00% |
| Outside of Metro Areas | 5 | $1,215,000 | $243,000 | $0 | 0.00% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $0 | 0.00% |
| Ottawa, IL (FHA|USDA|VA) | 3 | $345,000 | $115,000 | $0 | 0.00% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| Galesburg, IL (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 0.00% |
| Sterling, IL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Burlington, IA-IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Portsmouth, OH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| DUBUQUE, IA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 146 | $18,570,000 | $127,192 | $0 | 0.00% |
| FHA | 1 | $105,000 | $105,000 | $0 | 0.00% |
For 2022, Midamerica National Bank's most frequently originated type of loan was Conventional, with 146 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2022, Midamerica National Bank's most frequently cited loan purpose was Home Purchase, with 106 originations. The 2nd most popular reason was Cash Out Refi, with 26 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 147 | $18,675,000 | $127,041 | $0 | 0.00% |
For 2022, Midamerica National Bank's most frequently cited loan duration was Other, with 147 originations.
Loan Sizing
2022 saw Midamerica National Bank place emphasis on $100,000 or less loans with 72 originations, totaling $3,890,000 in origination value.
Applicant Income
Midamerica National Bank lent most frequently to those with incomes in the $50k or less range, with 35 originations. The second most popular income band? $100k-150k, with 28 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 147 | $18,675,000 | $127,041 | $0 | 0.00% |
Midamerica National Bank lent most frequently to those with DTI ratios of Exempt%, with 147 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.18%
Midamerica National Bank has an average approval rate.
Pick Rate
Approvals leading to origination63.95%
Midamerica National Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 147 | $18,675,000 | $127,041 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MidAmerica Mortgage Inc | Conventional home mortgage | Struggling to pay mortgage | 1 | 50.0% |
| MidAmerica Mortgage Inc | FHA mortgage | Struggling to pay mortgage | 1 | 50.0% |