Mortgage Masters Of Indiana Rates, Fees & Info
Evansville, INLEI: 5493005E0SAPZ1LKU504
Tax ID: 03-0486044
2021 Data | 2020 Data | 2019 Data | 2018 Data
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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
1,580Origination 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 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 applications98.26%
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 origination95.09%
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% |
