Safe Rate Rankings

Best Conventional Mortgage Bank Lenders in Indianapolis

Updated May 26, 2026

⚖️ The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.

🛡️ No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.

📊 HMDA 2024Built using publicly available originated loan data from the federal government.

🎯 Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.

Market

Total Lenders197

Total Loans32,863

Median Rate Spread0.35%

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Rank	Lender	Overall	Pricing	Product	Pull Through	Place	Avg Fees	Rate Spread	# of Loans
1	Old National BankBank	Exceptional	Exceptional	Exceptional	Strong	Strong	$863Fees	0.418%Below	342
2	The Huntington National BankBank	Exceptional	Strong	Exceptional	Strong	Exceptional	$1,042Fees	0.408%Above	531
3	First Merchants BankBank	Exceptional	Strong	Exceptional	Strong	Strong	$976Fees	0.254%Above	254
4	PNC Bank, National AssociationBank	Exceptional	Strong	Exceptional	Strong	Strong	$463Credit	0.260%Above	210
5	KeyBank National AssociationBank	Exceptional	Strong	Exceptional	Strong	Strong	$966Fees	0.234%Above	190
6	U.S. Bank National AssociationBank	Exceptional	Strong	Exceptional	Strong	Strong	$582Fees	0.150%Above	121
7	Bank of America, National AssociationBank	Exceptional	Strong	Exceptional	Strong	Strong	$1,012Fees	0.044%Below	102
8	JPMorgan Chase Bank, National AssociationBank	Exceptional	Sound	Exceptional	Strong	Exceptional	$1,887Fees	0.209%Above	765
9	Union Savings BankBank	Exceptional	Sound	Exceptional	Strong	Exceptional	$1,004Fees	0.183%Above	494
10	Fifth Third Bank, National AssociationBank	Exceptional	Strong	Exceptional	Sound	Strong	$696Fees	0.264%Above	409
11	The State Bank and Trust CompanyBank	Exceptional	Strong	Strong	Strong	Strong	$1,022Fees	0.146%Above	162
12	Wells Fargo Bank, National AssociationBank	Exceptional	Strong	Exceptional	Sound	Strong	$2,059Fees	0.124%Above	90
13	Jackson County BankBank	Exceptional	Strong	Strong	Strong	Strong	$1,174Fees	0.154%Above	80
14	First Financial BankBank	Strong	Sound	Exceptional	Strong	Strong	$1,565Fees	0.467%Above	103
15	Centier BankBank	Strong	Sound	Strong	Strong	Strong	$569Fees	0.554%Above	105
16	Merchants Bank of IndianaBank	Strong	Sound	Strong	Sound	Strong	$1,383Fees	0.156%Above	192
17	Regions BankBank	Strong	Acceptable	Exceptional	Strong	Strong	$1,401Fees	0.415%Above	165
18	Flagstar Bank, N.A.Bank	Strong	Acceptable	Exceptional	Strong	Strong	$1,637Fees	0.547%Above	159
19	Gateway First BankBank	Strong	Acceptable	Exceptional	Strong	Strong	$2,721Fees	0.507%Above	88
20	STAR Financial BankBank	Strong	Sound	Sound	Sound	Strong	$1,050Fees	0.063%Above	89
21	USAA Federal Savings BankBank	Strong	Sound	Strong	Acceptable	Strong	$1,762Fees	0.163%Below	89
22	Ixonia BankBank	Strong	Mediocre	Exceptional	Strong	Strong	$3,907Fees	0.772%Above	78
23	The Federal Savings BankBank	Sound	Mediocre	Strong	Sound	Strong	$3,906Fees	0.672%Above	238

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)

Pricing

Rate and fee competitiveness (25%)

Pull Through

Reliability in closing loans (25%)

Product

Specialization in the loan type (25%)

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.