# Best FHA Mortgage Bank Lenders in Indianapolis

**As of:** 2026-05-30

Compare the top banks for FHA loans in Indianapolis.

> **Canonical URL:** https://saferate.com/indianapolis/best-mortgage-lenders/banks/fha-loans


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


## Market Statistics

- **Total Lenders:** 197
- **Total Loans:** 32,863
- **Median Rate Spread:** 0.3450880829015544%

## Top Lenders

| Rank | Lender | SafeRate Score | Pricing | Pull-Through | Volume | Type |
|------|--------|----------------|---------|--------------|--------|------|
| 1 | The Huntington National Bank | 89 | 75 | 65 | 531 | Bank |
| 2 | Union Savings Bank | 89 | 90 | 71 | 494 | Bank |
| 3 | Fifth Third Bank, National Association | 79 | 72 | 58 | 409 | Bank |
| 4 | Old National Bank | 79 | 91 | 60 | 342 | Bank |
| 5 | KeyBank National Association | 79 | 83 | 59 | 190 | Bank |
| 6 | Flagstar Bank, N.A. | 79 | 58 | 71 | 159 | Bank |
| 7 | U.S. Bank National Association | 79 | 65 | 60 | 121 | Bank |
| 8 | First Merchants Bank | 74 | 63 | 55 | 254 | Bank |
| 9 | PNC Bank, National Association | 74 | 62 | 56 | 210 | Bank |
| 10 | The State Bank and Trust Company | 74 | 68 | 67 | 162 | Bank |
| 11 | JPMorgan Chase Bank, National Association | 73 | 59 | 47 | 765 | Bank |
| 12 | Regions Bank | 73 | 60 | 59 | 165 | Bank |
| 13 | Gateway First Bank | 71 | 35 | 77 | 88 | Bank |
| 14 | Centier Bank | 69 | 64 | 50 | 105 | Bank |
| 15 | The Federal Savings Bank | 66 | 26 | 53 | 238 | Bank |
| 16 | Merchants Bank of Indiana | 64 | 59 | 49 | 192 | Bank |
| 17 | Ixonia Bank | 60 | 13 | 76 | 78 | Bank |

## Methodology

Safe Rate calculates these rankings using a risk-adjusted, data-driven scoring system based on Home Mortgage Disclosure Act (HMDA) filings. Rather than relying on simple averages, our statistical models control for loan-level risk factors (such as LTV, loan amount, and property value) to evaluate a lender's true competitiveness within Indianapolis.

Our composite SafeRate Score is derived using an equal, geometric weighting of the following factors:
1. **Pricing:** Evaluates the lender's interest rates and net fees relative to the market.
2. **Pull-Through:** Measures the percentage of applications that successfully close, indicating reliability and customer service.
3. **Product Knowledge:** Evaluates the lender's specific experience and volume originating the selected loan product.
4. **Local Place Knowledge:** Analyzes the lender's total number of loans originated in the specific geography to determine local market expertise.