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Safe Rate's TrueRank Guarantee
Our rankings are earned, not bought. We analyze 2,347 lenders using federal HMDA data—no pay-to-play, no cherry-picking. You see the best options based on performance metrics, not advertising dollars.
Best Conventional Mortgage Bank Lenders in Indiana
Updated February 6, 2026
Market Overview
30
Total Lenders
90,243
Total Loans
0.38%
Median Rate Spread
| Rank | Lender | Overall | Pricing | Product | Pull Through | Place | Avg Fees | Spread | Volume | Action |
|---|---|---|---|---|---|---|---|---|---|---|
1 | Old National Bank | Exceptional | Exceptional | Exceptional | Strong | Exceptional | $855 | -0.103% | 1,017 | |
2 | First Merchants Bank | Exceptional | Strong | Exceptional | Strong | Exceptional | $1,223 | +0.290% | 956 | |
3 | Fifth Third Bank, National Association | Exceptional | Strong | Exceptional | Sound | Exceptional | $787 | +0.353% | 1,342 | |
4 | The Huntington National Bank | Exceptional | Strong | Exceptional | Strong | Strong | $1,093 | +0.440% | 951 | |
5 | PNC Bank, National Association | Exceptional | Strong | Exceptional | Strong | Strong | -$66 | +0.289% | 554 | |
6 | German American Bank | Exceptional | Strong | Strong | Strong | Exceptional | $804 | +0.148% | 511 | |
7 | U.S. Bank National Association | Exceptional | Strong | Exceptional | Strong | Strong | $748 | +0.226% | 309 | |
8 | KeyBank National Association | Exceptional | Strong | Exceptional | Strong | Strong | $1,128 | +0.214% | 276 | |
9 | JPMorgan Chase Bank, National Association | Exceptional | Sound | Exceptional | Strong | Exceptional | $1,932 | +0.269% | 2,061 | |
10 | Union Savings Bank | Exceptional | Sound | Exceptional | Strong | Exceptional | $911 | +0.189% | 790 | |
11 | First Financial Bank | Exceptional | Sound | Exceptional | Strong | Exceptional | $1,327 | +0.531% | 700 | |
12 | Wells Fargo Bank, National Association | Exceptional | Strong | Exceptional | Sound | Strong | $2,204 | +0.161% | 319 | |
13 | Jackson County Bank | Exceptional | Strong | Strong | Strong | Strong | $954 | +0.082% | 272 | |
14 | The State Bank and Trust Company | Exceptional | Strong | Strong | Strong | Strong | $1,054 | +0.162% | 218 | |
15 | Centier Bank | Strong | Sound | Strong | Strong | Exceptional | $655 | +0.522% | 575 | |
16 | Horizon Bank | Strong | Sound | Strong | Strong | Exceptional | $1,577 | +0.440% | 468 | |
17 | 1st Source Bank | Strong | Sound | Strong | Strong | Exceptional | $1,043 | +0.377% | 433 | |
18 | First Farmers Bank & Trust Co. | Strong | Sound | Strong | Strong | Strong | $986 | +0.611% | 284 | |
19 | First Financial Bank, National Association | Strong | Sound | Strong | Strong | Strong | $1,003 | +0.352% | 268 | |
20 | Security Federal Savings Bank | Strong | Sound | Sound | Exceptional | Strong | $742 | +0.365% | 206 | |
21 | First Federal Savings Bank | Strong | Acceptable | Strong | Strong | Exceptional | $1,431 | +0.614% | 499 | |
22 | Flagstar Bank, N.A. | Strong | Acceptable | Exceptional | Strong | Strong | $1,965 | +0.449% | 483 | |
23 | Regions Bank | Strong | Acceptable | Exceptional | Strong | Strong | $1,570 | +0.473% | 376 | |
24 | Merchants Bank of Indiana | Strong | Sound | Strong | Sound | Strong | $1,347 | +0.237% | 232 | |
25 | USAA Federal Savings Bank | Strong | Sound | Strong | Acceptable | Strong | $1,726 | -0.149% | 281 | |
26 | University Bank | Strong | Acceptable | Strong | Strong | Strong | $2,643 | +0.261% | 270 | |
27 | STAR Financial Bank | Strong | Sound | Sound | Sound | Strong | $1,264 | +0.144% | 227 | |
28 | Magnolia Bank, Incorporated | Strong | Acceptable | Strong | Strong | Strong | $2,036 | +0.291% | 221 | |
29 | Ixonia Bank | Strong | Mediocre | Exceptional | Strong | Strong | $3,402 | +0.734% | 386 | |
30 | The Federal Savings Bank | Sound | Mediocre | Strong | Sound | Strong | $3,639 | +0.678% | 360 |
How We Rank Lenders
Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.
Our Point System (Max 40 Points)
10
Pricing
Rate and fee competitiveness (25%)
10
Pull Through
Reliability in closing loans (25%)
10
Product
Specialization in the loan type (25%)
10
Place
Local market expertise (25%)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
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