Crane Mortgage Rates, Fees & Info

Odon, IN

LEI: 549300SQ2G271NHKJQ07

Tax ID: 35-0978599

5 stars - Updated: 5/26/24 - out of 5 stars, based on 21 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Crane is a smaller mortgage company specializing in Home Purchase loans. Crane has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, Evansville, Bloomington, Bedford, and Jasper among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

Crane has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Crane is typically a low 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 relatively high 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 6.71% 5/26/24
30 Year Conventional Refi 6.55% 5/26/24
30 Year Cash-out Refi 6.53% 5/26/24
15 Year Conventional Purchase 5.93% 5/26/24
15 Year Conventional Refi 6.15% 5/26/24
15 Year Cash-out Refi 6.15% 5/26/24
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.

Crane Mortgage Calculator






Your Estimates

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

This is not an official calculator from Crane. 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

431

Origination Dollar Volume (All Markets)

$77,555,000
Show all (8) awards

Relative Rate

Crane's average 30 year fixed mortgage rate was 6.78%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.3%.

Relative Fees (Closing Costs)

Crane's average total fees/closing costs for a 30 year fixed rate mortgage were $1,801.

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 $9,089.

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
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 78 $18,870,000 $241,923 $1,533 6.81%
Outside of Metro Areas 96 $13,360,000 $139,167 $1,637 6.89%
EVANSVILLE, IN-KY (FHA|USDA|VA) 74 $13,300,000 $179,730 $1,768 6.98%
BLOOMINGTON, IN (FHA|USDA|VA) 49 $6,635,000 $135,408 $1,508 6.87%
Bedford, IN (FHA|USDA|VA) 33 $6,295,000 $190,758 $1,689 6.73%
Jasper, IN (FHA|USDA|VA) 11 $5,715,000 $519,545 $1,531 6.56%
Washington, IN (FHA|USDA|VA) 38 $4,530,000 $119,211 $1,560 6.92%
TERRE HAUTE, IN (FHA|USDA|VA) 29 $2,145,000 $73,966 $1,527 6.99%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $1,595,000 $1,595,000 $0 7.90%
MUNCIE, IN (FHA|USDA|VA) 5 $1,525,000 $305,000 $1,880 7.01%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $865,000 $865,000 $0 7.50%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $525,000 $525,000 $0 6.30%
Sevierville, TN (FHA|USDA|VA) 1 $485,000 $485,000 $0 7.90%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $395,000 $395,000 $0 6.20%
Key West, FL (FHA|USDA|VA) 1 $345,000 $345,000 $0 6.40%
LOUISVILLE, KY (FHA|USDA|VA) 3 $295,000 $98,333 $1,390 6.75%
KOKOMO, IN (FHA|USDA|VA) 3 $175,000 $58,333 $0 6.65%
Madison, IN (FHA|USDA|VA) 1 $165,000 $165,000 $0 6.80%
Vincennes, IN (FHA|USDA|VA) 2 $150,000 $75,000 $1,938 7.49%
Seymour, IN (FHA|USDA|VA) 2 $100,000 $50,000 $1,180 7.50%
COLUMBUS, IN (FHA|USDA|VA) 1 $85,000 $85,000 $1,220 6.50%
Crane's top markets include Indianapolis, Evansville, Bloomington, Bedford, and Jasper among others.

Their top states include:
  • Indiana (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against CRANE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    The Riddell National Bank
    Similarity Rank: 20
    BOONVILLE FEDERAL SAVINGS BANK
    Similarity Rank: 132
    First Federal Savings Bank
    Similarity Rank: 150
    Heritage Federal Credit Union
    Similarity Rank: 154
    Mutual Savings Bank
    Similarity Rank: 460
    Independence Bank of Kentucky
    Similarity Rank: 480
    Greenfield Banking Company
    Similarity Rank: 581
    FAIR WAY LENDING LLC
    Similarity Rank: 714
    Flanagan State Bank
    Similarity Rank: 714
    MORTGAGE MASTERS OF INDIANA, INC.
    Similarity Rank: 792

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 431 $77,555,000 $179,942 $1,594 6.88%

    For 2023, Crane's most frequently originated type of loan was Conventional, with 431 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 201 $46,045,000 $229,080 $2,098 6.81%
    Cash Out Refi 139 $14,595,000 $105,000 $1,449 6.89%
    Refi 72 $13,060,000 $181,389 $1,279 7.00%
    Home Improvement 19 $3,855,000 $202,895 $1,349 7.09%

    For 2023, Crane's most frequently cited loan purpose was Home Purchase, with 201 originations. The 2nd most popular reason was Cash Out Refi, with 139 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 190 $30,810,000 $162,158 $1,281 6.95%
    30 Year 129 $21,875,000 $169,574 $1,801 6.78%
    5 Year 50 $10,510,000 $210,200 $1,216 7.04%
    Other 25 $6,895,000 $275,800 $0 7.07%
    20 Year 16 $2,780,000 $173,750 $2,057 6.52%
    15 Year 16 $2,090,000 $130,625 $1,715 6.32%
    1 Year 4 $650,000 $162,500 $0 7.38%
    3 Year 1 $1,945,000 $1,945,000 $0 6.60%

    For 2023, Crane's most frequently cited loan duration was 10 Year, with 190 originations. The 2nd most popular length was 30 Year, with 129 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 265 $32,195,000 $121,491
    $1k-2k 1 $245,000 $245,000

    Crane's average total fees were $1,801, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 265 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 224 $47,990,000 $214,241
    7-8% 179 $24,375,000 $136,173
    5-6% 23 $3,785,000 $164,565
    4-5% 4 $1,240,000 $310,000
    Over 8% 1 $165,000 $165,000

    During 2023, Crane's average interest rate for loans was 6.78%, while their most frequently originated rate bucket for loans was 6-7%, with 224 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 199 $11,385,000 $57,211 $1,435 6.94%
    $100k-200k 123 $17,715,000 $144,024 $1,820 6.86%
    $200k-400k 74 $20,120,000 $271,892 $1,772 6.79%
    $400k-600k 21 $9,775,000 $465,476 $1,487 6.97%
    $1MM+ 8 $13,970,000 $1,746,250 $0 6.61%
    $600k-1MM 6 $4,590,000 $765,000 $0 6.42%

    2023 saw Crane place emphasis on $100,000 or less loans with 199 originations, totaling $11,385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 83 $7,695,000 $92,711 $1,577 6.87%
    $100k-150k 73 $9,715,000 $133,082 $1,578 7.06%
    $50k or less 56 $5,420,000 $96,786 $1,721 6.77%
    $75k-100k 56 $7,320,000 $130,714 $1,716 6.76%
    $150k-250k 37 $6,315,000 $170,676 $1,442 6.91%
    $250k+ 6 $1,570,000 $261,667 $1,238 6.77%

    Crane lent most frequently to those with incomes in the $50k-75k range, with 83 originations. The second most popular income band? $100k-150k, with 73 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 83 $9,755,000 $117,530 $1,750 6.88%
    20-30% 74 $8,910,000 $120,405 $1,574 6.80%
    30-36% 52 $7,070,000 $135,962 $1,670 6.79%
    41% 17 $1,655,000 $97,353 $1,376 7.11%
    42% 16 $1,650,000 $103,125 $1,492 6.95%
    37% 14 $1,370,000 $97,857 $1,524 6.71%
    39% 13 $1,235,000 $95,000 $1,527 7.34%
    36% 13 $2,365,000 $181,923 $1,480 6.81%
    38% 10 $1,290,000 $129,000 $1,607 6.93%
    40% 8 $1,250,000 $156,250 $1,678 6.88%
    44% 8 $1,560,000 $195,000 $1,512 7.05%
    43% 7 $895,000 $127,857 $1,824 6.96%
    50-60% 1 $25,000 $25,000 $775 7.50%

    Crane lent most frequently to those with DTI ratios of <20%, with 83 originations. The next most common DTI ratio? 20-30%, with 74 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 115 $38,525,000 $335,000 $0 6.89%
    White 287 $34,735,000 $121,028 $1,593 6.88%
    Not provided 26 $3,830,000 $147,308 $1,906 6.88%
    Black 3 $465,000 $155,000 $1,377 6.88%

    Approval Rates

    Total approvals of all applications
    87.55%

    Crane has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.69%

    Crane has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 431 $77,555,000 $179,942

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    431 $77,555,000 $179,942

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 59 $4,285,000 $72,627 $1,365 7.03%
    40-60% 69 $9,685,000 $140,362 $1,704 6.74%
    60-80% 171 $44,025,000 $257,456 $1,745 6.82%
    80-100% 70 $16,150,000 $230,714 $1,987 6.80%
    Under 20% 62 $3,410,000 $55,000 $1,180 7.15%