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. They have a low ratio of USDA loans. Their top markets by origination volume include: Indianapolis, New Castle, Terre Haute, Louisville, and Crawfordsville among others. We have data for 8 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 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.86% | 12/16/24 |
| 30 Year Conventional Refi | 6.80% | 12/16/24 |
| 30 Year FHA Purchase | 7.35% | 12/16/24 |
| 30 Year FHA Refi | 7.15% | 12/16/24 |
| 30 Year VA Purchase | 6.27% | 12/16/24 |
| 30 Year VA Refi | 5.85% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 6.30% | 12/16/24 |
| 15 Year Conventional Refi | 6.40% | 12/16/24 |
| 15 Year Cash-out Refi | 6.40% | 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. | ||
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
487Origination Dollar Volume (All Markets)
$97,725,000Awards
TUCKER MORTGAGE - 2018
TUCKER MORTGAGE is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 476 | $96,130,000 | $201,954 | $3,431 | 4.73% |
| New Castle, IN (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,321 | 4.88% |
| Outside of Metro Areas | 3 | $285,000 | $95,000 | $3,468 | 4.88% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $2,986 | 4.50% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,985 | 3.88% |
| Crawfordsville, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,582 | 4.75% |
| COLUMBUS, IN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,792 | 4.75% |
| MUNCIE, IN (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $3,450 | 4.94% |
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
For 2018, Tucker Mortgage's most frequently originated type of loan was Conventional, with 350 originations. Their 2nd most popular type was FHA, with 102 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 471 | $94,585,000 | $200,817 | $3,462 | 4.73% |
| Refi | 16 | $3,140,000 | $196,250 | $2,788 | 4.55% |
For 2018, Tucker Mortgage's most frequently cited loan purpose was Home Purchase, with 471 originations. The 2nd most popular reason was Refi, with 16 originations.
Loan Duration/Length
For 2018, Tucker Mortgage's most frequently cited loan duration was 30 Year, with 453 originations. The 2nd most popular length was 15 Year, with 28 originations.
Origination Fees/Closing Costs
Tucker Mortgage's average total fees were $3,510, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 290 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 390 | $80,890,000 | $207,410 |
| 5-6% | 76 | $12,000,000 | $157,895 |
| 3-4% | 20 | $4,520,000 | $226,000 |
| 2.5-3% | 1 | $315,000 | $315,000 |
During 2018, Tucker Mortgage's average interest rate for loans was 4.76%, while their most frequently originated rate bucket for loans was 4-5%, with 390 originations.
Loan Sizing
2018 saw Tucker Mortgage place emphasis on $100k-200k loans with 227 originations, totaling $34,805,000 in origination value.
Applicant Income
Tucker Mortgage lent most frequently to those with incomes in the $50k-75k range, with 127 originations. The second most popular income band? $100k-150k, with 104 originations.
Applicant Debt to Income Ratio
Tucker Mortgage lent most frequently to those with DTI ratios of 20-30%, with 123 originations. The next most common DTI ratio? 30-36%, with 106 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.98%
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 origination83.37%
Tucker Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 487 | $97,725,000 | $200,667 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 487 | $97,725,000 | $200,667 |