Tucker Mortgage Rates, Fees & Info

INDIANAPOLIS, IN

LEI: 54930041L7ZI432VT094

Tax ID: 35-2010358

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & 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. Their top markets by origination volume include: Indianapolis, Lafayette, Jasper, New Castle, and Frankfort among others. We have data for 16 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Tucker Mortgage. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    917

    Origination Dollar Volume (All Markets)

    $214,605,000

    Awards

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

    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) 894 $210,340,000 $235,280 $3,132 3.08%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $405,000 $405,000 $3,351 2.75%
    Jasper, IN (FHA|USDA|VA) 1 $345,000 $345,000 $2,377 2.88%
    New Castle, IN (FHA|USDA|VA) 3 $345,000 $115,000 $2,748 2.96%
    Frankfort, IN (FHA|USDA|VA) 2 $340,000 $170,000 $2,873 2.50%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $320,000 $160,000 $2,327 3.50%
    KOKOMO, IN (FHA|USDA|VA) 2 $320,000 $160,000 $4,391 3.37%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $305,000 $305,000 $2,778 3.13%
    Plymouth, IN (FHA|USDA|VA) 1 $295,000 $295,000 $2,265 2.88%
    Outside of Metro Areas 2 $270,000 $135,000 $4,771 2.94%
    TERRE HAUTE, IN (FHA|USDA|VA) 2 $270,000 $135,000 $2,256 2.56%
    Angola, IN (FHA|USDA|VA) 1 $255,000 $255,000 $2,482 2.38%
    MUNCIE, IN (FHA|USDA|VA) 2 $250,000 $125,000 $2,379 3.19%
    COLUMBUS, IN (FHA|USDA|VA) 1 $205,000 $205,000 $6,991 3.00%
    Warsaw, IN (FHA|USDA|VA) 1 $195,000 $195,000 $2,544 2.50%
    BLOOMINGTON, IN (FHA|USDA|VA) 1 $145,000 $145,000 $2,392 3.25%
    Tucker Mortgage's top markets include Indianapolis, Lafayette, Jasper, New Castle, and Frankfort among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)

    • 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.

    Hendricks County Bank and Trust Company
    Similarity Rank: 376
    Independent Federal Credit Union
    Similarity Rank: 441
    Madison County Federal Credit Union
    Similarity Rank: 488
    Security Federal Savings Bank
    Similarity Rank: 750
    BNC National Bank
    Similarity Rank: 1338
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 1881
    CRANE
    Similarity Rank: 2070
    PARTNERS 1ST Federal Credit Union
    Similarity Rank: 2418
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 2496
    BEACON CREDIT UNION
    Similarity Rank: 2808

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 798 $189,510,000 $237,481 $2,681 3.06%
    FHA 81 $15,135,000 $186,852 $5,916 3.27%
    VA 38 $9,960,000 $262,105 $6,647 3.15%

    For 2020, Tucker Mortgage's most frequently originated type of loan was Conventional, with 798 originations. Their 2nd most popular type was FHA, with 81 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 623 $146,625,000 $235,353 $3,308 3.15%
    Refi 294 $67,980,000 $231,224 $2,757 2.94%

    For 2020, Tucker Mortgage's most frequently cited loan purpose was Home Purchase, with 623 originations. The 2nd most popular reason was Refi, with 294 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 767 $181,975,000 $237,256 $3,237 3.16%
    15 Year 121 $25,575,000 $211,364 $2,570 2.60%
    20 Year 25 $5,915,000 $236,600 $2,610 3.03%
    10 Year 3 $955,000 $318,333 $3,180 2.38%
    Other 1 $185,000 $185,000 $2,397 2.88%

    For 2020, Tucker Mortgage's most frequently cited loan duration was 30 Year, with 767 originations. The 2nd most popular length was 15 Year, with 121 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 860 $197,980,000 $230,209
    $2k-3k 34 $10,640,000 $312,941
    $3k-4k 14 $3,790,000 $270,714
    $4k-5k 3 $985,000 $328,333
    $<1k 2 $160,000 $80,000
    $5k+ 2 $630,000 $315,000

    Tucker Mortgage's average total fees were $3,237, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 860 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 415 $100,775,000 $242,831
    3-4% 402 $92,140,000 $229,204
    <2.5% 84 $19,000,000 $226,190
    4-5% 16 $2,690,000 $168,125

    During 2020, Tucker Mortgage's average interest rate for loans was 3.16%, while their most frequently originated rate bucket for loans was 2.5-3%, with 415 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 415 $113,675,000 $273,916 $3,278 3.08%
    $100k-200k 373 $58,455,000 $156,716 $2,957 3.09%
    $400k-600k 83 $38,755,000 $466,928 $3,494 2.98%
    $100,000 or less 46 $3,720,000 $80,870 $2,568 3.21%

    2020 saw Tucker Mortgage place emphasis on $200k-400k loans with 415 originations, totaling $113,675,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 239 $46,065,000 $192,741 $3,196 3.12%
    $100k-150k 202 $55,500,000 $274,752 $3,040 3.06%
    $75k-100k 167 $37,265,000 $223,144 $3,206 3.06%
    $50k or less 148 $22,030,000 $148,851 $3,105 3.15%
    $150k-250k 123 $39,535,000 $321,423 $3,169 3.05%
    $250k+ 38 $14,210,000 $373,947 $2,870 2.87%

    Tucker Mortgage lent most frequently to those with incomes in the $50k-75k range, with 239 originations. The second most popular income band? $100k-150k, with 202 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 272 $62,800,000 $230,882 $2,927 3.07%
    30-36% 156 $36,440,000 $233,590 $3,270 3.09%
    <20% 128 $28,770,000 $224,766 $2,806 2.99%
    40% 35 $7,345,000 $209,857 $3,253 3.15%
    39% 31 $7,495,000 $241,774 $3,039 3.15%
    43% 30 $6,670,000 $222,333 $3,090 3.24%
    42% 28 $5,880,000 $210,000 $3,215 3.16%
    49% 26 $6,520,000 $250,769 $3,479 3.06%
    37% 25 $6,815,000 $272,600 $3,296 3.12%
    38% 25 $6,145,000 $245,800 $3,102 2.99%
    41% 24 $5,670,000 $236,250 $3,605 3.14%
    50-60% 22 $4,500,000 $204,545 $6,342 3.23%
    46% 21 $5,215,000 $248,333 $2,861 3.06%
    44% 21 $6,325,000 $301,190 $2,928 3.13%
    47% 19 $4,925,000 $259,211 $3,037 3.10%
    45% 17 $4,235,000 $249,118 $2,894 3.02%
    36% 17 $4,035,000 $237,353 $3,436 3.18%
    48% 16 $3,530,000 $220,625 $2,677 3.05%

    Tucker Mortgage lent most frequently to those with DTI ratios of 20-30%, with 272 originations. The next most common DTI ratio? 30-36%, with 156 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 829 $194,635,000 $234,783 $3,085 3.08%
    Black 47 $10,035,000 $213,511 $4,134 3.12%
    Asian 29 $7,065,000 $243,621 $2,711 3.13%
    Not provided 6 $1,380,000 $230,000 $3,795 2.79%
    American Indian 4 $1,000,000 $250,000 $2,549 3.06%
    Native Hawaiian or Islander 2 $490,000 $245,000 $4,362 3.19%

    Approval Rates

    Total approvals of all applications
    97.51%

    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
    85.39%

    Tucker Mortgage has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 917 $214,605,000 $234,029

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 917 $214,605,000 $234,029

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $3,085,000 $123,400 $2,387 2.87%
    40-60% 95 $21,325,000 $224,474 $2,637 2.80%
    60-80% 294 $72,120,000 $245,306 $2,678 3.06%
    80-100% 497 $115,985,000 $233,370 $3,407 3.16%
    Over 100% 6 $2,090,000 $348,333 $13,483 3.04%