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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 FHA Mortgage Bank Lenders in Indiana
Updated February 6, 2026
Market Overview
24
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 | Union Savings Bank | Exceptional | Exceptional | Strong | Strong | Exceptional | $911 | +0.189% | 790 | |
2 | Old National Bank | Exceptional | Exceptional | Strong | Sound | Exceptional | $855 | -0.103% | 1,017 | |
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 | KeyBank National Association | Exceptional | Exceptional | Strong | Sound | Strong | $1,128 | +0.214% | 276 | |
6 | University Bank | Exceptional | Strong | Strong | Exceptional | Strong | $2,643 | +0.261% | 270 | |
7 | First Merchants Bank | Exceptional | Strong | Strong | Sound | Exceptional | $1,223 | +0.290% | 956 | |
8 | German American Bank | Exceptional | Strong | Strong | Sound | Exceptional | $804 | +0.148% | 511 | |
9 | U.S. Bank National Association | Exceptional | Strong | Exceptional | Sound | Strong | $748 | +0.226% | 309 | |
10 | Centier Bank | Strong | Strong | Sound | Sound | Exceptional | $655 | +0.522% | 575 | |
11 | PNC Bank, National Association | Strong | Strong | Strong | Sound | Strong | -$66 | +0.289% | 554 | |
12 | Flagstar Bank, N.A. | Strong | Sound | Exceptional | Strong | Strong | $1,965 | +0.449% | 483 | |
13 | Horizon Bank | Strong | Strong | Sound | Sound | Exceptional | $1,577 | +0.440% | 468 | |
14 | The State Bank and Trust Company | Strong | Strong | Sound | Strong | Strong | $1,054 | +0.162% | 218 | |
15 | JPMorgan Chase Bank, National Association | Strong | Sound | Strong | Sound | Exceptional | $1,932 | +0.269% | 2,061 | |
16 | First Financial Bank | Strong | Sound | Strong | Sound | Exceptional | $1,327 | +0.531% | 700 | |
17 | Regions Bank | Strong | Sound | Exceptional | Sound | Strong | $1,570 | +0.473% | 376 | |
18 | Magnolia Bank, Incorporated | Strong | Sound | Strong | Strong | Strong | $2,036 | +0.291% | 221 | |
19 | 1st Source Bank | Strong | Sound | Sound | Sound | Exceptional | $1,043 | +0.377% | 433 | |
20 | Wells Fargo Bank, National Association | Strong | Sound | Strong | Sound | Strong | $2,204 | +0.161% | 319 | |
21 | The Federal Savings Bank | Strong | Acceptable | Exceptional | Sound | Strong | $3,639 | +0.678% | 360 | |
22 | Merchants Bank of Indiana | Strong | Sound | Sound | Sound | Strong | $1,347 | +0.237% | 232 | |
23 | Ixonia Bank | Strong | Mediocre | Exceptional | Strong | Strong | $3,402 | +0.734% | 386 | |
24 | First Financial Bank, National Association | Sound | Sound | Acceptable | Mediocre | Strong | $1,003 | +0.352% | 268 |
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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