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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 Indianapolis
Updated February 5, 2026
Market Overview
17
Total Lenders
32,863
Total Loans
0.35%
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 | $1,004 | +0.183% | 494 | |
2 | The Huntington National Bank | Exceptional | Strong | Exceptional | Strong | Exceptional | $1,042 | +0.408% | 531 | |
3 | Old National Bank | Exceptional | Exceptional | Strong | Sound | Strong | $863 | -0.418% | 342 | |
4 | KeyBank National Association | Exceptional | Exceptional | Strong | Sound | Strong | $966 | +0.234% | 190 | |
5 | Fifth Third Bank, National Association | Exceptional | Strong | Exceptional | Sound | Strong | $696 | +0.264% | 409 | |
6 | U.S. Bank National Association | Exceptional | Strong | Exceptional | Sound | Strong | $582 | +0.150% | 121 | |
7 | First Merchants Bank | Strong | Strong | Strong | Sound | Strong | $976 | +0.254% | 254 | |
8 | PNC Bank, National Association | Strong | Strong | Strong | Sound | Strong | -$463 | +0.260% | 210 | |
9 | The State Bank and Trust Company | Strong | Strong | Sound | Strong | Strong | $1,022 | +0.146% | 162 | |
10 | Flagstar Bank, N.A. | Strong | Sound | Exceptional | Strong | Strong | $1,637 | +0.547% | 159 | |
11 | JPMorgan Chase Bank, National Association | Strong | Sound | Strong | Sound | Exceptional | $1,887 | +0.209% | 765 | |
12 | Regions Bank | Strong | Sound | Exceptional | Sound | Strong | $1,401 | +0.415% | 165 | |
13 | Centier Bank | Strong | Strong | Sound | Sound | Strong | $569 | +0.554% | 105 | |
14 | Gateway First Bank | Strong | Acceptable | Exceptional | Strong | Strong | $2,721 | +0.507% | 88 | |
15 | The Federal Savings Bank | Strong | Acceptable | Exceptional | Sound | Strong | $3,906 | +0.672% | 238 | |
16 | Merchants Bank of Indiana | Strong | Sound | Sound | Sound | Strong | $1,383 | +0.156% | 192 | |
17 | Ixonia Bank | Strong | Mediocre | Exceptional | Strong | Strong | $3,907 | +0.772% | 78 |
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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