Tucker Mortgage Rates, Fees & Info
INDIANAPOLIS, INLEI: 54930041L7ZI432VT094
Tax ID: 35-2010358
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Mortgage Data
Review & Overview
Tucker Mortgage is a smaller mortgage company specializing in Home Purchase loans. Tucker Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Indianapolis, Bloomington, Terre Haute, New Castle, and Logansport among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Tucker Mortgage 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. Tucker Mortgage 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 relatively high 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.86% | 9/18/23 |
| 30 Year Conventional Refi | 6.80% | 9/18/23 |
| 30 Year FHA Purchase | 7.35% | 9/18/23 |
| 30 Year FHA Refi | 7.15% | 9/18/23 |
| 30 Year VA Purchase | 6.27% | 9/18/23 |
| 30 Year VA Refi | 5.85% | 9/18/23 |
| 30 Year USDA Purchase | 6.27% | 9/18/23 |
| 15 Year Conventional Purchase | 6.30% | 9/18/23 |
| 15 Year Conventional Refi | 6.40% | 9/18/23 |
| 15 Year Cash-out Refi | 6.40% | 9/18/23 |
| 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. | ||
Tucker Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
352Origination Dollar Volume (All Markets)
$93,520,000Awards
TUCKER MORTGAGE - 2022
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For 2022, less than of lenders were eligible for this award.
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Relative Rate
Tucker Mortgage's average 30 year fixed mortgage rate was
5.21%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.45%.
Relative Fees (Closing Costs)
Tucker Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,191.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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 |
|---|---|---|---|---|---|
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 338 | $90,780,000 | $268,580 | $4,168 | 5.20% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $3,012 | 4.50% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $4,522 | 4.63% |
| Outside of Metro Areas | 2 | $350,000 | $175,000 | $2,696 | 5.19% |
| New Castle, IN (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $4,038 | 4.25% |
| Logansport, IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,243 | 6.13% |
| COLUMBUS, IN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,570 | 5.63% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,866 | 5.75% |
| KOKOMO, IN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,306 | 5.63% |
| Wabash, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,513 | 3.50% |
| MUNCIE, IN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,910 | 6.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against TUCKER MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 271 | $73,585,000 | $271,531 | $3,388 | 5.24% |
| FHA | 58 | $13,200,000 | $227,586 | $7,018 | 5.17% |
| VA | 23 | $6,735,000 | $292,826 | $6,106 | 4.74% |
For 2022, Tucker Mortgage's most frequently originated type of loan was Conventional, with 271 originations. Their 2nd most popular type was FHA, with 58 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 343 | $91,715,000 | $267,391 | $4,164 | 5.22% |
| Refi | 9 | $1,805,000 | $200,556 | $4,146 | 4.07% |
For 2022, Tucker Mortgage's most frequently cited loan purpose was Home Purchase, with 343 originations. The 2nd most popular reason was Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 339 | $90,685,000 | $267,507 | $4,191 | 5.21% |
| 15 Year | 13 | $2,835,000 | $218,077 | $3,470 | 4.69% |
For 2022, Tucker Mortgage's most frequently cited loan duration was 30 Year, with 339 originations. The 2nd most popular length was 15 Year, with 13 originations.
Origination Fees/Closing Costs
Tucker Mortgage's average total fees were $4,191, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 290 originations.
Interest Rates
During 2022, Tucker Mortgage's average interest rate for loans was 5.21%, while their most frequently originated rate bucket for loans was 5-6%, with 144 originations.
Loan Sizing
2022 saw Tucker Mortgage place emphasis on $200k-400k loans with 205 originations, totaling $57,435,000 in origination value.
Applicant Income
Tucker Mortgage lent most frequently to those with incomes in the $100k-150k range, with 84 originations. The second most popular income band? $50k-75k, with 80 originations.
Applicant Debt to Income Ratio
Tucker Mortgage lent most frequently to those with DTI ratios of 20-30%, with 73 originations. The next most common DTI ratio? 30-36%, with 73 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.76%
Tucker Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination76.70%
Tucker Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 352 | $93,520,000 | $265,682 |