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

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

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Mortgage Data

  • SimulatedRates™
  • 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.

    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 6.81% 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

    1,580

    Origination Dollar Volume (All Markets)

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

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

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

    EVANSVILLE
    Similarity Rank: 28
    BOONVILLE FEDERAL SAVINGS BANK
    Similarity Rank: 204
    First Federal Savings Bank
    Similarity Rank: 252
    The Riddell National Bank
    Similarity Rank: 252
    Mutual Savings Bank
    Similarity Rank: 264
    Heritage Federal Credit Union
    Similarity Rank: 280
    United Fidelity Bank, fsb
    Similarity Rank: 340
    Independent Federal Credit Union
    Similarity Rank: 560
    The Peoples State Bank
    Similarity Rank: 1375

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 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

    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 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

    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
    98.12%

    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 origination
    97.59%

    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

    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%