Mortgage Masters Of Indiana Rates, Fees & Info

Evansville, IN

LEI: 5493005E0SAPZ1LKU504

Tax ID: 03-0486044

5 stars - Updated: 9/18/23 - out of 5 stars, based on 31 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Mortgage Masters Of Indiana is a smaller mortgage company specializing in Home Purchase loans. Mortgage Masters Of Indiana has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Evansville, Bloomington, Vincennes, Indianapolis, and Jasper among others. We have data for 20 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 6.66% 9/18/23
    30 Year Conventional Refi 6.53% 9/18/23
    30 Year Cash-out Refi 6.86% 9/18/23
    30 Year FHA Purchase 7.62% 9/18/23
    30 Year FHA Refi 7.14% 9/18/23
    30 Year VA Purchase 6.38% 9/18/23
    30 Year USDA Purchase 6.91% 9/18/23
    30 Year USDA Refi 6.74% 9/18/23
    15 Year Conventional Purchase 6.33% 9/18/23
    15 Year Conventional Refi 6.06% 9/18/23
    15 Year Cash-out Refi 6.06% 9/18/23
    15 Year VA Refi 5.66% 9/18/23
    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.

    Mortgage Masters Of Indiana Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Mortgage Masters Of Indiana. 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

    956

    Origination Dollar Volume (All Markets)

    $181,790,000
    Show all (9) awards

    Relative Rate

    Mortgage Masters Of Indiana's average 30 year fixed mortgage rate was 5.13%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.37%.

    Relative Fees (Closing Costs)

    Mortgage Masters Of Indiana's average total fees/closing costs for a 30 year fixed rate mortgage were $4,760.

    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) 763 $145,355,000 $190,505 $4,715 5.12%
    Outside of Metro Areas 80 $13,710,000 $171,375 $4,911 5.03%
    BLOOMINGTON, IN (FHA|USDA|VA) 30 $6,890,000 $229,667 $4,268 4.91%
    Vincennes, IN (FHA|USDA|VA) 20 $2,910,000 $145,500 $4,175 4.74%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 8 $2,400,000 $300,000 $3,688 4.80%
    Jasper, IN (FHA|USDA|VA) 12 $2,170,000 $180,833 $5,115 4.89%
    Washington, IN (FHA|USDA|VA) 8 $1,600,000 $200,000 $4,038 4.22%
    OWENSBORO, KY (FHA|USDA|VA) 7 $1,295,000 $185,000 $4,263 5.43%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $1,235,000 $411,667 $5,304 4.54%
    Madisonville, KY (FHA|USDA|VA) 7 $1,175,000 $167,857 $5,014 5.05%
    Bedford, IN (FHA|USDA|VA) 6 $990,000 $165,000 $4,938 5.52%
    New Castle, IN (FHA|USDA|VA) 2 $370,000 $185,000 $3,589 5.06%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $325,000 $325,000 $5,286 3.88%
    LOUISVILLE, KY (FHA|USDA|VA) 2 $290,000 $145,000 $3,192 6.63%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $255,000 $255,000 $3,700 5.88%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 1 $255,000 $255,000 $2,082 5.63%
    FORT WAYNE, IN (FHA|USDA|VA) 1 $185,000 $185,000 $6,212 7.00%
    Seymour, IN (FHA|USDA|VA) 1 $135,000 $135,000 $3,000 3.00%
    Campbellsville, KY (FHA|USDA|VA) 1 $125,000 $125,000 $5,138 5.13%
    TERRE HAUTE, IN (FHA|USDA|VA) 2 $120,000 $60,000 $2,931 5.31%
    Mortgage Masters Of Indiana's top markets include Evansville, Bloomington, Vincennes, Indianapolis, 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: 21
    First Federal Savings Bank
    Similarity Rank: 144
    Mutual Savings Bank
    Similarity Rank: 176
    BOONVILLE FEDERAL SAVINGS BANK
    Similarity Rank: 204
    Heritage Federal Credit Union
    Similarity Rank: 224
    The Riddell National Bank
    Similarity Rank: 378
    Independent Federal Credit Union
    Similarity Rank: 420
    United Fidelity Bank, fsb
    Similarity Rank: 544
    Madison County Federal Credit Union
    Similarity Rank: 672
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 700

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 487 $98,955,000 $203,193 $3,257 5.06%
    FHA 331 $57,145,000 $172,644 $6,587 5.20%
    USDA 80 $12,000,000 $150,000 $4,899 5.00%
    VA 58 $13,690,000 $236,034 $5,551 4.87%

    For 2022, Mortgage Masters Of Indiana's most frequently originated type of loan was Conventional, with 487 originations. Their 2nd most popular type was FHA, with 331 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 882 $169,890,000 $192,619 $4,754 5.13%
    Cash Out Refi 39 $6,565,000 $168,333 $4,089 4.56%
    Refi 35 $5,335,000 $152,429 $3,655 4.61%

    For 2022, Mortgage Masters Of Indiana's most frequently cited loan purpose was Home Purchase, with 882 originations. The 2nd most popular reason was Cash Out Refi, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 918 $176,080,000 $191,808 $4,760 5.13%
    15 Year 28 $4,320,000 $154,286 $2,971 3.93%
    20 Year 9 $1,185,000 $131,667 $2,984 4.68%
    Other 1 $205,000 $205,000 $0 4.00%

    For 2022, Mortgage Masters Of Indiana's most frequently cited loan duration was 30 Year, with 918 originations. The 2nd most popular length was 15 Year, with 28 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 627 $115,065,000 $183,517
    $<1k 122 $28,760,000 $235,738
    $2k-3k 115 $16,365,000 $142,304
    $3k-4k 53 $10,465,000 $197,453
    $5k+ 22 $6,970,000 $316,818
    $4k-5k 16 $3,860,000 $241,250

    Mortgage Masters Of Indiana's average total fees were $4,760, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 627 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 354 $69,640,000 $196,723
    3-4% 198 $38,660,000 $195,253
    4-5% 198 $35,310,000 $178,333
    6-7% 150 $28,310,000 $188,733
    7-8% 37 $6,115,000 $165,270
    2.5-3% 16 $3,090,000 $193,125
    <2.5% 3 $665,000 $221,667

    During 2022, Mortgage Masters Of Indiana's average interest rate for loans was 5.13%, while their most frequently originated rate bucket for loans was 5-6%, with 354 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 521 $77,745,000 $149,223 $4,522 5.11%
    $200k-400k 308 $81,640,000 $265,065 $5,261 5.06%
    $100,000 or less 98 $7,880,000 $80,408 $3,655 5.05%
    $400k-600k 25 $11,915,000 $476,600 $5,364 5.27%
    $600k-1MM 4 $2,610,000 $652,500 $2,918 4.47%

    2022 saw Mortgage Masters Of Indiana place emphasis on $100k-200k loans with 521 originations, totaling $77,745,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 300 $53,280,000 $177,600 $4,927 5.14%
    $50k or less 290 $36,900,000 $127,241 $4,372 4.93%
    $75k-100k 177 $38,085,000 $215,169 $4,716 5.17%
    $100k-150k 136 $35,410,000 $260,368 $4,916 5.16%
    $150k-250k 38 $12,440,000 $327,368 $4,696 5.30%
    $250k+ 13 $5,275,000 $405,769 $3,594 5.51%

    Mortgage Masters Of Indiana lent most frequently to those with incomes in the $50k-75k range, with 300 originations. The second most popular income band? $50k or less, with 290 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 201 $37,465,000 $186,393 $4,282 5.10%
    20-30% 188 $32,590,000 $173,351 $3,983 5.02%
    <20% 44 $7,010,000 $159,318 $3,201 4.70%
    45% 44 $9,620,000 $218,636 $4,526 5.23%
    42% 42 $8,040,000 $191,429 $4,974 5.24%
    43% 42 $8,230,000 $195,952 $5,066 5.10%
    44% 42 $8,450,000 $201,190 $5,582 4.91%
    40% 41 $7,825,000 $190,854 $4,977 5.07%
    39% 41 $8,645,000 $210,854 $4,513 5.16%
    37% 40 $6,850,000 $171,250 $5,216 5.09%
    38% 34 $5,850,000 $172,059 $4,724 5.03%
    41% 33 $6,595,000 $199,848 $4,926 5.19%
    36% 31 $5,695,000 $183,710 $4,642 5.41%
    48% 31 $7,255,000 $234,032 $5,734 5.36%
    49% 28 $5,740,000 $205,000 $5,510 5.13%
    50-60% 27 $6,815,000 $252,407 $7,854 5.25%
    47% 23 $5,055,000 $219,783 $6,116 5.19%
    46% 22 $3,660,000 $166,364 $5,416 5.03%

    Mortgage Masters Of Indiana lent most frequently to those with DTI ratios of 30-36%, with 201 originations. The next most common DTI ratio? 20-30%, with 188 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 830 $157,130,000 $189,313 $4,606 5.07%
    Black 55 $10,005,000 $181,909 $5,276 5.33%
    Not provided 41 $8,155,000 $198,902 $5,698 5.17%
    Asian 20 $4,360,000 $218,000 $4,390 5.11%
    American Indian 6 $990,000 $165,000 $5,041 5.42%
    Asian Indian 1 $505,000 $505,000 $3,153 4.00%
    Vietnamese 1 $255,000 $255,000 $2,082 5.63%
    Other Asian 1 $215,000 $215,000 $7,004 5.13%
    Native Hawaiian or Islander 1 $175,000 $175,000 $3,357 5.50%

    Approval Rates

    Total approvals of all applications
    95.86%

    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
    93.31%

    Mortgage Masters Of Indiana has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 956 $181,790,000 $190,157

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    956 $181,790,000 $190,157

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $1,150,000 $115,000 $2,473 4.48%
    40-60% 34 $4,770,000 $140,294 $3,001 4.81%
    60-80% 137 $25,015,000 $182,591 $3,615 5.04%
    80-100% 736 $143,820,000 $195,408 $4,891 5.12%
    Over 100% 38 $6,960,000 $183,158 $6,712 5.17%
    Under 20% 1 $75,000 $75,000 $2,972 3.50%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Mortgage Research Center, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Mortgage Research Center, LLC VA mortgage Trouble during payment process 1 50.0%