We compare mortgage interest rate and loan related closing costs at Midland Mortgage Corporation of SC with other lenders for mortgages with similar borrower characteristics:
Interest Rate: similar to average (-0.00%)
Loan Related Closing Costs: lower than average (-$1562)
Assessment: this lender tends to be a cheap lender.
This scoreboard is based on data reported to FFIEC. In the data, Midland Mortgage Corporation of SC originated 859 mortgages, a national market share of 0.0%. It was most active in SC (0.7% market share), IN (0.0% market share), and AL (0.0% market share).
On average, Midland Mortgage Corporation of SC’s interest rates were similar to those of comparable mortgages at other lenders (-0.00%).1The comparable mortgages control for Midland Mortgage Corporation of SC’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $2273, which was lower than those of comparable mortgages at $3835, with a difference of -$1562. Overall, we estimate that Midland Mortgage Corporation of SC tends to be an cheap lender, with a cost-adjusted-rate difference of -0.17% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Midland Mortgage Corporation of SC.
Midland Mortgage Corporation of SC originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:
Home Purchase Mortgages from Midland Mortgage Corporation of SC compared to other lenders
| Conforming | FHA | USDA | VA | |
|---|---|---|---|---|
| Interest Rate Difference | +0.05% | -0.25% | -0.00% | +0.01% |
| Loan related Closing Cost Difference | -$1376 | -$2111 | -$1920 | -$3117 |
| Cost Adjusted Rate Difference | -0.09% | -0.52% | -0.24% | -0.25% |
Based on the table above, Midland Mortgage Corporation of SC is cheap for Conforming, FHA, USDA and VA purchase mortgages.
Mortgage Refinancing from Midland Mortgage Corporation of SC compared to other lenders
| Conforming | |
|---|---|
| Interest Rate Difference | -0.03% |
| Loan Related Closing Cost Difference | -$455 |
| Cost Adjusted Rate Difference | -0.08% |
Based on the table above, Midland Mortgage Corporation of SC is cheap for Conforming mortgage refinance.
Other information about Midland Mortgage Corporation of SC:
Regulator: United States Department of Housing and Urban Development (HUD)
Registered city and state: Columbia, SC, 29201