Mortgage Masters Of Indiana Rates, Fees & Info
Evansville, INLEI: 5493005E0SAPZ1LKU504
Tax ID: 03-0486044
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Mortgage Data
Review & 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 by origination volume include: Evansville, Bloomington, Indianapolis, Madisonville, and Jasper among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)Mortgage Masters Of Indiana has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Mortgage Masters Of Indiana is typically an average 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 | 6.81% | 12/4/22 |
| 30 Year Conventional Refi | 6.66% | 12/4/22 |
| 30 Year Cash-out Refi | 6.89% | 12/4/22 |
| 30 Year FHA Purchase | 7.77% | 12/4/22 |
| 30 Year FHA Refi | 7.38% | 12/4/22 |
| 30 Year VA Purchase | 6.63% | 12/4/22 |
| 30 Year VA Refi | 6.19% | 12/4/22 |
| 30 Year USDA Purchase | 7.15% | 12/4/22 |
| 30 Year USDA Refi | 6.88% | 12/4/22 |
| 15 Year Conventional Purchase | 5.93% | 12/4/22 |
| 15 Year Conventional Refi | 5.94% | 12/4/22 |
| 15 Year Cash-out Refi | 5.94% | 12/4/22 |
| 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. | ||
Originations
1,580Origination Dollar Volume (All Markets)
$289,600,000Awards
MORTGAGE MASTERS OF INDIANA - 2021
MORTGAGE MASTERS OF INDIANA is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Mortgage Masters Of Indiana's average 30 year fixed mortgage rate was
2.98%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.17%.
Relative Fees (Closing Costs)
Mortgage Masters Of Indiana's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,802.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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 |
|---|---|---|---|---|---|
| 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% |
Similar Lenders
We use machine learning to identify the top lenders compared against MORTGAGE MASTERS OF INDIANA 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 2021, Mortgage Masters Of Indiana's most frequently originated type of loan was Conventional, with 963 originations. Their 2nd most popular type was FHA, with 382 originations.
Loan Reason
For 2021, Mortgage Masters Of Indiana's most frequently cited loan purpose was Home Purchase, with 1,051 originations. The 2nd most popular reason was Refi, with 381 originations.
Loan Duration/Length
For 2021, Mortgage Masters Of Indiana's most frequently cited loan duration was 30 Year, with 1,392 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 | 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 |
Mortgage Masters Of Indiana's average total fees were $3,802, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.98%, while their most frequently originated rate bucket for loans was 2.5-3%, with 786 originations.
Loan Sizing
2021 saw Mortgage Masters Of Indiana place emphasis on $100k-200k loans with 848 originations, totaling $125,550,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications98.12%
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 origination97.59%
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 |
LTV Distribution
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% |
