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Horizon Bank
Bank|Michigan City, IN|Multi-Region
Loans Originated
767
Applications
1,077
Volume
$216 million
Offers loans directly to consumers
Overall Pricing
Sound
Overall Pull Through
Strong
Safe Rate Awards⭐Conventional Superstar⭐Purchase Superstar⭐Refinance Superstar
Pricing and Pullthrough Overview
Average Rate Spread
+0.414%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$1,601
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
71.2%
Percentage of applications that result in closed loans
Safe Rate's Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and Jumbo loans
Report Card
Horizon Bank performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Sound | Industry Standard | |
Pull Through Closing Strength | Strong | Highly Competitive | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Strong | Highly Competitive | |
FHA | Sound | Industry Standard | |
Jumbo | Strong | Highly Competitive | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Strong | Highly Competitive | |
Refinance | Strong | Highly Competitive | |
Places Geographic coverage | Strong | Multi-Regional · 11 metro areas · 13 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$282,249
Average Borrower Income
$149,381
Average Property Value
$386,838
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Strong | Strong | Sound | Strong | 680 | 88.7% | +0.414% | $1,620 |
FHA Loans | Sound | Sound | Strong | Sound | 50 | 6.5% | +0.485% | $1,649 |
Jumbo Loans | Strong | Strong | N/A | Strong | 32 | 4.2% | +0.296% | $1,147 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Strong | Strong | Sound | Strong | 636 | 82.9% | +0.407% | $1,617 |
Refinance | Strong | Strong | Sound | Strong | 131 | 17.1% | +0.445% | $1,527 |
Geographic Coverage
Metro Areas
10
States Served
13
We count Washington DC as a state
Avg Place Specialization
Strong
States with Loan Originations
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Top Metro Areas by Place Specialization Score
1
Michigan City, INMSA
Volume: 88Mix: 11.47%
Place Specialization
Exceptional
2
Lake County, INMSA
Volume: 131Mix: 17.08%
Place Specialization
Exceptional
3
South Bend, IN-MIMSA
Volume: 58Mix: 7.56%
Place Specialization
Strong
4
Niles, MI, MIMSA
Volume: 40Mix: 5.22%
Place Specialization
Strong
5
Elkhart, INMSA
Volume: 31Mix: 4.04%
Place Specialization
Strong
6
Kalamazoo, MIMSA
Volume: 39Mix: 5.08%
Place Specialization
Strong
7
Indianapolis, INMSA
Volume: 38Mix: 4.95%
Place Specialization
Sound
8
Grand Rapids, MIMSA
Volume: 36Mix: 4.69%
Place Specialization
Sound
9
Lafayette, INMSA
Volume: 22Mix: 2.87%
Place Specialization
Sound
10
Fort Wayne, IN, INMSA
Volume: 11Mix: 1.43%
Place Specialization
Sound
Top States by Place Specialization Score
1
INState
Volume: 468Mix: 61.02%
Place Specialization
Exceptional
2
MIState
Volume: 275Mix: 35.85%
Place Specialization
Strong
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 30 Points)
10
Pricing
Rate and fee competitiveness (33%)
10
Pull Through
Reliability in closing loans (33%)
10
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)
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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