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, Muncie, Chicago, Frankfort, and Elkhart among others. We have data for 6 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% | 4/21/24 |
| 30 Year Conventional Refi | 6.80% | 4/21/24 |
| 30 Year FHA Purchase | 7.35% | 4/21/24 |
| 30 Year FHA Refi | 7.15% | 4/21/24 |
| 30 Year VA Purchase | 6.27% | 4/21/24 |
| 30 Year VA Refi | 5.85% | 4/21/24 |
| 30 Year USDA Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 6.30% | 4/21/24 |
| 15 Year Conventional Refi | 6.40% | 4/21/24 |
| 15 Year Cash-out Refi | 6.40% | 4/21/24 |
| 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
554Origination Dollar Volume (All Markets)
$114,120,000Awards
TUCKER MORTGAGE - 2019
TUCKER MORTGAGE is a 2019 , due to their low .
For 2019, 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) | 544 | $112,410,000 | $206,636 | $3,402 | 4.15% |
| Outside of Metro Areas | 5 | $685,000 | $137,000 | $2,943 | 4.20% |
| MUNCIE, IN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $12,635 | 3.38% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $5,247 | 4.38% |
| Frankfort, IN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,074 | 3.75% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,609 | 3.88% |
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 2019, Tucker Mortgage's most frequently originated type of loan was Conventional, with 407 originations. Their 2nd most popular type was FHA, with 113 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 512 | $104,420,000 | $203,945 | $3,468 | 4.17% |
| Refi | 42 | $9,700,000 | $230,952 | $2,896 | 3.94% |
For 2019, Tucker Mortgage's most frequently cited loan purpose was Home Purchase, with 512 originations. The 2nd most popular reason was Refi, with 42 originations.
Loan Duration/Length
For 2019, Tucker Mortgage's most frequently cited loan duration was 30 Year, with 521 originations. The 2nd most popular length was 15 Year, with 26 originations.
Origination Fees/Closing Costs
Tucker Mortgage's average total fees were $3,480, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 526 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 300 | $64,970,000 | $216,567 |
| 4-5% | 234 | $46,130,000 | $197,137 |
| 5-6% | 20 | $3,020,000 | $151,000 |
During 2019, Tucker Mortgage's average interest rate for loans was 4.17%, while their most frequently originated rate bucket for loans was 3-4%, with 300 originations.
Loan Sizing
2019 saw Tucker Mortgage place emphasis on $100k-200k loans with 274 originations, totaling $42,350,000 in origination value.
Applicant Income
Tucker Mortgage lent most frequently to those with incomes in the $50k-75k range, with 158 originations. The second most popular income band? $100k-150k, with 112 originations.
Applicant Debt to Income Ratio
Tucker Mortgage lent most frequently to those with DTI ratios of 20-30%, with 145 originations. The next most common DTI ratio? 30-36%, with 116 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.49%
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 origination77.98%
Tucker Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 554 | $114,120,000 | $205,993 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 554 | $114,120,000 | $205,993 |