Mortgage Masters Of Indiana Rates, Fees & Info

Evansville, IN

LEI: 5493005E0SAPZ1LKU504

Tax ID: 03-0486044

5 stars - out of 5 stars, based on 40 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Mortgage Masters Of Indiana is a smaller mortgage company specializing in Home Purchase and Refi loans. Mortgage Masters Of Indiana has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Evansville, Bloomington, Indianapolis, Madisonville, and Jasper among others. Mortgage Masters Of Indiana has an above average approval rate for mortages when compared nationally. They have an above average pick rate when compared to the same sample of other lendors. Mortgage Masters Of Indiana is typically an average fee lendor.


Originations

1,580

Origination Dollar Volume (All Markets)

$289,600,000
Show all (9) awards

Relative Rate

Mortgage Masters Of Indiana 's average 30 year fixed rate mortgage of loans were 2.98%.

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

This yields a difference of -0.17%.

Relative Fees

Mortgage Masters Of Indiana 's average total fees for a 30 year fixed rate mortgage are $3,802.

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
EVANSVILLE, IN-KY (FHA|USDA|VA) 1,229 $225,035,000 $183,104 $3,623 2.93%
Outside of Metro Areas 118 $20,300,000 $172,034 $3,746 2.92%
BLOOMINGTON, IN (FHA|USDA|VA) 90 $18,940,000 $210,444 $3,174 2.86%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 22 $5,130,000 $233,182 $3,862 2.86%
Madisonville, KY (FHA|USDA|VA) 34 $4,910,000 $144,412 $4,413 2.90%
Jasper, IN (FHA|USDA|VA) 20 $3,240,000 $162,000 $3,714 2.98%
Vincennes, IN (FHA|USDA|VA) 21 $2,375,000 $113,095 $3,867 3.00%
Bedford, IN (FHA|USDA|VA) 12 $1,730,000 $144,167 $3,560 2.89%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 3 $1,635,000 $545,000 $5,218 2.71%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 6 $1,620,000 $270,000 $4,918 3.00%
OWENSBORO, KY (FHA|USDA|VA) 5 $855,000 $171,000 $3,968 2.98%
Washington, IN (FHA|USDA|VA) 3 $505,000 $168,333 $3,343 2.63%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $485,000 $485,000 $3,935 2.50%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $410,000 $205,000 $2,780 3.12%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $360,000 $180,000 $2,251 2.88%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $325,000 $325,000 $3,605 2.13%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $310,000 $155,000 $1,890 2.56%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $285,000 $285,000 $3,440 2.50%
Paducah, KY-IL (FHA|USDA|VA) 1 $225,000 $225,000 $6,937 2.50%
TERRE HAUTE, IN (FHA|USDA|VA) 2 $200,000 $100,000 $2,193 3.00%
Central City, KY (FHA|USDA|VA) 1 $195,000 $195,000 $4,911 2.38%
MUNCIE, IN (FHA|USDA|VA) 1 $195,000 $195,000 $5,602 3.13%
New Castle, IN (FHA|USDA|VA) 1 $165,000 $165,000 $1,826 2.75%
Warsaw, IN (FHA|USDA|VA) 1 $85,000 $85,000 $5,001 3.63%
Seymour, IN (FHA|USDA|VA) 1 $85,000 $85,000 $3,895 2.75%

Mortgage Masters Of Indiana 's top markets include Evansville, Bloomington, Indianapolis, Madisonville, and Jasper among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 963 $186,255,000 $193,411 $2,686 2.90%
FHA 382 $60,690,000 $158,874 $5,720 3.03%
USDA 123 $17,805,000 $144,756 $4,351 2.95%
VA 112 $24,850,000 $221,875 $3,926 2.74%

For the 2021 period, Mortgage Masters Of Indiana 's most frequently originated loan type of loans were Conventional, with 963 originations. Their 2nd most popular type is FHA, with 382 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,051 $196,745,000 $187,198 $4,111 3.00%
Refi 381 $66,655,000 $174,948 $2,503 2.69%
Cash Out Refi 148 $26,200,000 $177,027 $3,187 2.96%

For the 2021, Mortgage Masters Of Indiana 's most frequently cited loan purpose of loans were Home Purchase, with 1,051 originations. The 2nd most popular reason of loans were Refi, with 381 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,392 $255,730,000 $183,714 $3,802 2.98%
15 Year 121 $21,785,000 $180,041 $2,367 2.40%
20 Year 51 $9,295,000 $182,255 $2,430 2.73%
10 Year 8 $1,360,000 $170,000 $2,291 2.23%
Other 8 $1,430,000 $178,750 $3,079 2.91%

For the 2021, Mortgage Masters Of Indiana 's most frequently cited loan length of loans were 30 Year, with 1,392 originations. The 2nd most popular length of loans were 15 Year, with 121 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,027 $178,125,000 $173,442
$<1k 447 $94,985,000 $212,494
$2k-3k 87 $12,155,000 $139,713
$3k-4k 19 $4,335,000 $228,158

$3,802 of loans were Mortgage Masters Of Indiana 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,027 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 786 $148,180,000 $188,524
3-4% 490 $82,360,000 $168,082
<2.5% 294 $57,930,000 $197,041
4-5% 10 $1,130,000 $113,000

During 2021, Mortgage Masters Of Indiana 's average interest rate of loans were 2.98%, while their most frequently originated rate bucket of loans were 2.5-3%, with 786 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 848 $125,550,000 $148,054 $3,661 2.94%
$200k-400k 466 $123,080,000 $264,120 $3,824 2.87%
$100,000 or less 215 $17,265,000 $80,302 $3,297 3.03%
$400k-600k 51 $23,705,000 $464,804 $2,953 2.78%

2021 saw Mortgage Masters Of Indiana place emphasis on $100k-200k loans with 848 originations, totaling $125,550,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 503 $64,015,000 $127,266 $3,895 2.98%
$50k-75k 420 $71,820,000 $171,000 $3,820 2.96%
$75k-100k 257 $53,355,000 $207,607 $3,729 2.94%
$100k-150k 224 $55,150,000 $246,205 $3,231 2.84%
$150k-250k 93 $27,305,000 $293,602 $3,064 2.87%
$250k+ 24 $7,670,000 $319,583 $2,711 2.74%

Mortgage Masters Of Indiana lent most frequently to those with incomes in the $50k or less range, with 503 originations. The second most popular income band? $50k-75k, with 420 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 396 $69,560,000 $175,657 $3,291 2.90%
30-36% 301 $55,805,000 $185,399 $3,803 2.97%
<20% 162 $28,260,000 $174,444 $2,721 2.78%
38% 60 $11,360,000 $189,333 $3,587 2.89%
41% 60 $11,750,000 $195,833 $4,199 3.02%
44% 57 $10,295,000 $180,614 $4,011 3.05%
37% 53 $10,235,000 $193,113 $3,949 3.05%
39% 52 $10,000,000 $192,308 $3,795 3.02%
40% 49 $9,725,000 $198,469 $3,980 3.05%
43% 48 $8,850,000 $184,375 $3,538 3.03%
36% 45 $7,865,000 $174,778 $3,855 2.98%
42% 42 $7,670,000 $182,619 $3,473 2.97%
50-60% 36 $6,090,000 $169,167 $5,701 2.84%
47% 35 $6,545,000 $187,000 $4,950 2.96%
45% 34 $7,150,000 $210,294 $4,417 3.01%
48% 34 $7,370,000 $216,765 $4,482 2.95%
49% 34 $6,270,000 $184,412 $4,124 2.92%
46% 22 $4,350,000 $197,727 $4,350 2.89%

Mortgage Masters Of Indiana lent most frequently to those with DTI ratios of 20-30%, with 396 originations. The next most common DTI ratio? 30-36%, with 301 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,412 $257,560,000 $182,408 $3,587 2.92%
Not provided 81 $15,735,000 $194,259 $3,962 3.00%
Black 50 $8,390,000 $167,800 $4,591 2.98%
Asian 22 $5,120,000 $232,727 $3,204 2.81%
American Indian 8 $1,370,000 $171,250 $4,197 2.97%
Other Asian 2 $490,000 $245,000 $2,981 3.25%
Asian Indian 2 $450,000 $225,000 $2,292 2.81%
2 $300,000 $150,000 $5,008 3.19%
Filipino 1 $185,000 $185,000 $6,308 3.00%

Approval Rates

Total approvals of all applications
98.26%

Mortgage Masters Of Indiana 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
95.09%

Mortgage Masters Of Indiana has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

Points and Fees

Points Originations Total Value Average Loan
NA 1,580 $289,600,000 $183,291

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,580 $289,600,000 $183,291

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 21 $3,015,000 $143,571 $2,784 2.61%
40-60% 91 $13,295,000 $146,099 $2,453 2.73%
60-80% 421 $79,315,000 $188,397 $2,730 2.88%
80-100% 999 $185,335,000 $185,521 $4,035 2.97%
Over 100% 47 $8,585,000 $182,660 $5,988 2.88%
Under 20% 1 $55,000 $55,000 $2,885 2.38%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Mortgage Team 1, Inc. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%