Tucker Mortgage Rates, Fees & Info

INDIANAPOLIS, IN

LEI: 54930041L7ZI432VT094

Tax ID: 35-2010358

5 stars - out of 5 stars, based on 23 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Tucker Mortgage is a smaller mortgage company specializing in Home Purchase and Refi loans. Tucker Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Indianapolis, Muncie, Louisville/jefferson County, Bloomington, and Columbus among others. Tucker Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Tucker Mortgage is typically an average fee lendor.


Originations

550

Origination Dollar Volume (All Markets)

$133,390,000

Awards

TUCKER MORTGAGE  30 Year Conventional Loans bronze TUCKER MORTGAGE  FHA Loans bronze
Show all (2) awards

Relative Rate

Tucker Mortgage 's average 30 year fixed rate mortgage of loans were 3.09%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.06%.

Relative Fees

Tucker Mortgage 's average total fees for a 30 year fixed rate mortgage are $3,391.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 524 $127,700,000 $243,702 $3,317 3.03%
MUNCIE, IN (FHA|USDA|VA) 4 $1,040,000 $260,000 $2,269 2.91%
Outside of Metro Areas 5 $1,035,000 $207,000 $3,302 3.13%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 1 $545,000 $545,000 $3,473 2.88%
BLOOMINGTON, IN (FHA|USDA|VA) 2 $500,000 $250,000 $7,399 2.94%
COLUMBUS, IN (FHA|USDA|VA) 2 $480,000 $240,000 $2,710 2.81%
KOKOMO, IN (FHA|USDA|VA) 2 $370,000 $185,000 $2,424 2.81%
New Castle, IN (FHA|USDA|VA) 2 $370,000 $185,000 $2,902 3.13%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $275,000 $275,000 $2,908 3.25%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $195,000 $195,000 $3,214 3.00%
TERRE HAUTE, IN (FHA|USDA|VA) 1 $195,000 $195,000 $2,557 3.13%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $165,000 $165,000 $2,678 3.25%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 1 $165,000 $165,000 $1,976 2.75%
Greensburg, IN (FHA|USDA|VA) 1 $155,000 $155,000 $2,935 2.88%
Marion, IN (FHA|USDA|VA) 1 $135,000 $135,000 $2,540 3.13%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $65,000 $65,000 $2,820 3.25%

Tucker Mortgage 's top markets include Indianapolis, Muncie, Louisville/jefferson County, Bloomington, and Columbus among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 465 $113,635,000 $244,376 $2,775 3.00%
FHA 58 $12,660,000 $218,276 $6,485 3.23%
VA 24 $6,560,000 $273,333 $5,801 2.98%
USDA 3 $535,000 $178,333 $4,744 3.04%

For the 2021 period, Tucker Mortgage 's most frequently originated loan type of loans were Conventional, with 465 originations. Their 2nd most popular type is FHA, with 58 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 415 $103,375,000 $249,096 $3,478 3.07%
Refi 135 $30,015,000 $222,333 $2,789 2.88%

For the 2021, Tucker Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 415 originations. The 2nd most popular reason of loans were Refi, with 135 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 490 $120,610,000 $246,143 $3,391 3.09%
15 Year 47 $10,375,000 $220,745 $2,739 2.44%
20 Year 11 $2,215,000 $201,364 $2,294 2.84%
10 Year 2 $190,000 $95,000 $2,241 2.69%

For the 2021, Tucker Mortgage 's most frequently cited loan length of loans were 30 Year, with 490 originations. The 2nd most popular length of loans were 15 Year, with 47 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 525 $127,035,000 $241,971
$2k-3k 17 $4,395,000 $258,529
$3k-4k 6 $1,500,000 $250,000
$<1k 1 $75,000 $75,000
$5k+ 1 $385,000 $385,000

$3,391 of loans were Tucker Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 525 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 251 $56,695,000 $225,876
2.5-3% 245 $63,385,000 $258,714
<2.5% 49 $12,385,000 $252,755
4-5% 5 $925,000 $185,000

During 2021, Tucker Mortgage 's average interest rate of loans were 3.09%, while their most frequently originated rate bucket of loans were 3-4%, with 251 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 279 $75,595,000 $270,950 $3,616 3.02%
$100k-200k 191 $29,855,000 $156,309 $2,981 3.05%
$400k-600k 53 $25,005,000 $471,792 $3,246 2.91%
$100,000 or less 26 $2,140,000 $82,308 $2,573 3.16%
$600k-1MM 1 $795,000 $795,000 $2,771 2.75%

2021 saw Tucker Mortgage place emphasis on $200k-400k loans with 279 originations, totaling $75,595,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 148 $30,650,000 $207,095 $3,577 3.06%
$100k-150k 130 $37,030,000 $284,846 $3,363 2.97%
$50k or less 105 $15,935,000 $151,762 $3,100 3.13%
$75k-100k 89 $21,015,000 $236,124 $3,207 3.00%
$150k-250k 61 $23,015,000 $377,295 $3,114 2.93%
$250k+ 16 $5,530,000 $345,625 $3,148 3.01%

Tucker Mortgage lent most frequently to those with incomes in the $50k-75k range, with 148 originations. The second most popular income band? $100k-150k, with 130 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 142 $34,400,000 $242,254 $2,981 2.98%
30-36% 97 $24,185,000 $249,330 $3,207 3.04%
<20% 56 $13,170,000 $235,179 $2,982 2.91%
49% 27 $6,485,000 $240,185 $3,796 3.05%
50-60% 21 $5,275,000 $251,190 $6,722 3.09%
37% 21 $5,315,000 $253,095 $3,351 2.96%
43% 20 $5,120,000 $256,000 $3,553 3.06%
36% 19 $4,555,000 $239,737 $2,833 3.13%
44% 18 $4,700,000 $261,111 $3,169 3.08%
41% 17 $4,545,000 $267,353 $4,093 3.01%
39% 16 $3,930,000 $245,625 $2,992 3.02%
42% 16 $3,760,000 $235,000 $2,940 3.20%
38% 15 $3,405,000 $227,000 $3,097 3.00%
46% 14 $3,250,000 $232,143 $3,663 3.14%
47% 14 $3,320,000 $237,143 $2,938 3.09%
40% 13 $2,895,000 $222,692 $3,228 3.11%
48% 12 $2,360,000 $196,667 $3,078 3.09%
45% 11 $2,505,000 $227,727 $3,470 3.07%

Tucker Mortgage lent most frequently to those with DTI ratios of 20-30%, with 142 originations. The next most common DTI ratio? 30-36%, with 97 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 489 $117,885,000 $241,074 $3,165 3.02%
Black 37 $8,245,000 $222,838 $4,912 3.13%
Asian 14 $4,560,000 $325,714 $2,856 2.88%
Not provided 4 $1,090,000 $272,500 $5,007 2.81%
American Indian 4 $1,040,000 $260,000 $3,730 3.06%
Asian Indian 1 $385,000 $385,000 $9,947 2.63%
Native Hawaiian 1 $185,000 $185,000 $5,557 3.25%

Approval Rates

Total approvals of all applications
97.67%

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 origination
82.85%

Tucker Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 550 $133,390,000 $242,527

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
550 $133,390,000 $242,527

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 17 $1,905,000 $112,059 $2,330 2.86%
40-60% 59 $12,345,000 $209,237 $2,595 2.80%
60-80% 168 $41,480,000 $246,905 $2,838 3.03%
80-100% 299 $75,515,000 $252,559 $3,600 3.08%
Over 100% 7 $2,145,000 $306,429 $10,557 3.00%