Crane Mortgage Rates, Fees & Info
Odon, INLEI: 549300SQ2G271NHKJQ07
Tax ID: 35-0978599
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Mortgage Data
Review & Overview
Crane is a smaller mortgage company specializing in Cash Out Refi, Home Purchase, and Refi loans. Crane has a high proportion of conventional loans. Their top markets by origination volume include: Evansville, Indianapolis, Washington, Terre Haute, and Bedford among others. We have data for 17 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 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 | 6.71% | 4/28/24 |
| 30 Year Conventional Refi | 6.55% | 4/28/24 |
| 30 Year Cash-out Refi | 6.53% | 4/28/24 |
| 15 Year Conventional Purchase | 5.93% | 4/28/24 |
| 15 Year Conventional Refi | 6.15% | 4/28/24 |
| 15 Year Cash-out Refi | 6.15% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
517Origination Dollar Volume (All Markets)
$73,865,000Awards
CRANE - 2021
CRANE is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 169 | $20,945,000 | $123,935 | $1,608 | 3.21% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 57 | $12,265,000 | $215,175 | $1,517 | 3.52% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 59 | $10,935,000 | $185,339 | $1,604 | 3.63% |
| Washington, IN (FHA|USDA|VA) | 71 | $9,095,000 | $128,099 | $1,606 | 3.15% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 56 | $6,160,000 | $110,000 | $1,533 | 3.20% |
| Bedford, IN (FHA|USDA|VA) | 51 | $5,775,000 | $113,235 | $1,526 | 3.24% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 33 | $5,375,000 | $162,879 | $1,638 | 3.19% |
| Vincennes, IN (FHA|USDA|VA) | 6 | $840,000 | $140,000 | $1,217 | 3.65% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 4.20% |
| Jasper, IN (FHA|USDA|VA) | 5 | $705,000 | $141,000 | $1,516 | 3.25% |
| Seymour, IN (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 3.74% |
| Madison, IN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,619 | 3.25% |
| COLUMBUS, IN (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $2,057 | 3.13% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 3.90% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,606 | 3.50% |
| North Vernon, IN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,640 | 3.00% |
| MUNCIE, IN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 4.20% |
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 | 515 | $73,615,000 | $142,942 | $1,583 | 3.29% |
| HELOC | 2 | $250,000 | $125,000 | n/a | 4.05% |
For 2021, Crane's most frequently originated type of loan was Conventional, with 515 originations. Their 2nd most popular type was HELOC, with 2 originations.
Loan Reason
For 2021, Crane's most frequently cited loan purpose was Cash Out Refi, with 284 originations. The 2nd most popular reason was Home Purchase, with 115 originations.
Loan Duration/Length
For 2021, Crane's most frequently cited loan duration was 30 Year, with 176 originations. The 2nd most popular length was 15 Year, with 133 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 456 | $58,610,000 | $128,531 |
Crane's average total fees were $1,646, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 456 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 268 | $43,650,000 | $162,873 |
| 2.5-3% | 203 | $20,575,000 | $101,355 |
| 4-5% | 42 | $9,490,000 | $225,952 |
| 5-6% | 4 | $150,000 | $37,500 |
During 2021, Crane's average interest rate for loans was 3.43%, while their most frequently originated rate bucket for loans was 3-4%, with 268 originations.
Loan Sizing
2021 saw Crane place emphasis on $100,000 or less loans with 228 originations, totaling $15,050,000 in origination value.
Applicant Income
Crane lent most frequently to those with incomes in the $50k-75k range, with 134 originations. The second most popular income band? $50k or less, with 114 originations.
Applicant Debt to Income Ratio
Crane lent most frequently to those with DTI ratios of 20-30%, with 178 originations. The next most common DTI ratio? <20%, with 109 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.12%
Crane has a below average approval rate.
Pick Rate
Approvals leading to origination80.08%
Crane has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 517 | $73,865,000 | $142,872 |