Crane Mortgage Rates, Fees & Info
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Tax ID: 35-0978599
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Mortgage Data
Review & Overview
Crane is a smaller mortgage company specializing in Cash Out Refi, Refi, and Home Purchase loans. Crane has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, Evansville, Bedford, Bloomington, and Terre Haute among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)Crane 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. 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 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 | 7.08% | 4/19/25 |
| 30 Year Conventional Refi | 6.74% | 4/19/25 |
| 30 Year Cash-out Refi | 6.74% | 4/19/25 |
| 15 Year Conventional Purchase | 6.43% | 4/19/25 |
| 15 Year Conventional Refi | 6.05% | 4/19/25 |
| 15 Year Cash-out Refi | 6.05% | 4/19/25 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
591Origination Dollar Volume (All Markets)
$97,525,000Awards
CRANE - 2024
CRANE is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Crane's average 30 year fixed mortgage rate was
6.62%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.07%.
Relative Fees (Closing Costs)
Crane's average total fees/closing costs for a 30 year fixed rate
mortgage were $1,845.
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 $8,356.
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) | 140 | $28,880,000 | $206,286 | $1,389 | 7.06% |
| Outside of Metro Areas | 125 | $16,915,000 | $135,320 | $1,497 | 6.81% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 94 | $15,770,000 | $167,766 | $1,357 | 7.05% |
| Bedford, IN (FHA|USDA|VA) | 48 | $10,860,000 | $226,250 | $1,431 | 6.93% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 49 | $7,505,000 | $153,163 | $1,648 | 6.70% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 63 | $5,835,000 | $92,619 | $1,548 | 6.98% |
| Washington, IN (FHA|USDA|VA) | 37 | $3,985,000 | $107,703 | $1,532 | 6.79% |
| MUNCIE, IN (FHA|USDA|VA) | 11 | $2,875,000 | $261,364 | $0 | 7.19% |
| Jasper, IN (FHA|USDA|VA) | 11 | $2,195,000 | $199,545 | $1,851 | 6.73% |
| New Castle, IN (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $0 | 7.15% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 7.15% |
| Wabash, IN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 7.50% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 7.25% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 7.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 7.30% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,182 | 6.50% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 7.30% |
| Vincennes, IN (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $1,352 | 6.56% |
| COLUMBUS, IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 7.30% |
| Marion, IN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,525 | 6.50% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 591 | $97,525,000 | $165,017 | $1,502 | 6.94% |
For 2024, Crane's most frequently originated type of loan was Conventional, with 591 originations.
Loan Reason
For 2024, Crane's most frequently cited loan purpose was Cash Out Refi, with 295 originations. The 2nd most popular reason was Refi, with 190 originations.
Loan Duration/Length
For 2024, Crane's most frequently cited loan duration was 5 Year, with 229 originations. The 2nd most popular length was 30 Year, with 151 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 358 | $42,380,000 | $118,380 |
Crane's average total fees were $1,845, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 358 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 284 | $48,220,000 | $169,789 |
| 6-7% | 282 | $45,460,000 | $161,206 |
| 5-6% | 21 | $2,545,000 | $121,190 |
| Over 8% | 3 | $1,225,000 | $408,333 |
| <2.5% | 1 | $75,000 | $75,000 |
During 2024, Crane's average interest rate for loans was 6.62%, while their most frequently originated rate bucket for loans was 7-8%, with 284 originations.
Loan Sizing
2024 saw Crane place emphasis on $100,000 or less loans with 272 originations, totaling $15,400,000 in origination value.
Applicant Income
Crane lent most frequently to those with incomes in the $100k-150k range, with 100 originations. The second most popular income band? $50k-75k, with 86 originations.
Applicant Debt to Income Ratio
Crane lent most frequently to those with DTI ratios of 20-30%, with 114 originations. The next most common DTI ratio? <20%, with 66 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.52%
Crane has an average approval rate.
Pick Rate
Approvals leading to origination93.06%
Crane has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 591 | $97,525,000 | $165,017 |