What loan types does Merchants Bank of Indiana offer?

Merchants Bank of Indiana offers the following mortgage loan types: FHA, Conventional, Jumbo. Each product has its own pricing score and performance metrics.

Where does Merchants Bank of Indiana offer mortgages?

Merchants Bank of Indiana offers mortgages in 26 states: AL, AR, CT, DC, FL, GA, IL, IN, KS, KY, LA, MA, MD, MI, MN, MO, MS, NC, NE, NJ, OH, PA, SC, TX, VA, WI.

How competitive are Merchants Bank of Indiana's mortgage rates?

Merchants Bank of Indiana has an overall pricing score of 59.4/100, based on analysis of their loan data including average spread and fees compared to market benchmarks.

What type of lender is Merchants Bank of Indiana?

Merchants Bank of Indiana is a Bank headquartered in Indianapolis, IN.

Unclaimed

Merchants Bank of Indiana

Bank•Indianapolis, INHQ•Direct & Wholesale•Reviews near you on Google

We analyzed every closed loan from Merchants Bank of Indiana — 787 loans across 1k applications— and benchmarked them against peer lenders across the 5 Ps of Mortgage Shopping.

Ratings· each scored 1–5 against peer lenders

Pricing

Sound

3/5

vs. all lenders

Pull-through

Strong

4/5

closing strength

Product

Strong

4/5

FHA · Conventional · Jumbo

Place

Sound

3/5

Near-National · 14 mkts

Awards

Conventional

Superstar

Refinance

Superstar

Summary

What They Do Well

Strong pull through performance
Particularly strong in Conventional and Jumbo loans
Nationwide availability with consistent service

Explore another lender or local market

Report Card

Merchants Bank of Indiana performance at a glance

Overall Performance· Pricing & closing strength

Pricing

Rate competitiveness

Sound

+16.9 bps above market avg

Pull Through

Closing strength

Strong

Top 40% of lenders

By Loan Product· Specialization by type

Conventional

Strong

Top 40% of lenders

FHA

Sound

Top 60% of lenders

Jumbo

Strong

Top 40% of lenders

By Loan Purpose· Transaction purpose mix

Purchase

Sound

Top 60% of lenders

Refinance

Sound

Top 60% of lenders

By Location· Geographic coverage

Geographic Reach

Near-National · 15 markets

Sound

Top 60% of lenders

Loan Product Performance

Performance by Loan Product

Loan Type	Overall	Product	Pricing	Pull Through	Volume	Mix	Spread	Fees
Conventional	Sound	Strong	Sound	Sound	703	89.3%	+0.162%Above	$1,817Fees
FHA Loans	Sound	Sound	Sound	Sound	54	6.9%	+0.542%Above	$1,783Fees
Jumbo Loans	Strong	Strong	—	Exceptional	20	2.5%	-0.329%Below	$382Fees

Conventional

Overall

Sound

Product

Strong

Pricing

Sound

Pull Through

Sound

Volume703

Mix89.3%

Spread

+0.162%Above

Fees

$1,817Fees

FHA Loans

Overall

Sound

Product

Sound

Pricing

Sound

Pull Through

Sound

Volume54

Mix6.9%

Spread

+0.542%Above

Fees

$1,783Fees

Jumbo Loans

Overall

Strong

Product

Strong

Pricing—

Pull Through

Exceptional

Volume20

Mix2.5%

Spread

-0.329%Below

Fees

$382Fees

Loan Purpose Performance

Performance by Loan Purpose

Purpose	Overall	Product	Pricing	Pull Through	Volume	Mix	Spread	Fees
Purchase	Sound	Sound	Sound	Sound	669	85.0%	+0.185%Above	$1,928Fees
Refinance	Sound	Sound	Strong	Strong	118	15.0%	+0.084%Above	$1,005Fees

Purchase

Overall

Sound

Product

Sound

Pricing

Sound

Pull Through

Sound

Volume669

Mix85.0%

Spread

+0.185%Above

Fees

$1,928Fees

Refinance

Overall

Sound

Product

Sound

Pricing

Strong

Pull Through

Strong

Volume118

Mix15.0%

Spread

+0.084%Above

Fees

$1,005Fees

At a Glance

Lender Overview

Lending Activity

Loans Originated

787

Applications

1,070

Volume

$286 million

Pricing & Closing

Avg Rate Spread

+0.169%

vs. market APOR

Avg Net Fees

$1,783

Origination − Credits

Pullthrough Rate

73.6%

Applications → Closed

Typical Borrower

Avg Loan Amount

$364,276

Avg Borrower Income

$147,180

Avg Property Value

$474,886

Geographic Coverage

Geographic Performance

Metro Areas

markets with activity

States Served

of 50 states + DC

Avg Place Specialization

Sound

3/5

States with Loan Originations

Northeast4

CTMANJPA

Midwest9

ILINKSMIMNMONEOHWI

South13

ALARDCFLGAKYLAMDMSNCSCTXVA

Top Metro Areas by Place Specialization Score

1© TheWxResearcher · CC0

Indianapolis, INMetro

Volume 192Mix 24.40% of portfolio

77/100

Strong

2© Luciof · CC BY-SA 3.0

Boston, MAMetro

Volume 115Mix 14.61% of portfolio

73/100

Strong

3© WeaponizingArchitecture · CC BY-SA 4.0

St. Louis, MO, MO-ILMetro

Volume 65Mix 8.26% of portfolio

63/100

Strong

4© Preservation Maryland · CC BY-SA 2.0

Frederick, MDMetro

Volume 22Mix 2.80% of portfolio

53/100

Sound

5© 归零者 · CC BY-SA 4.0

Columbus, OHMetro

Volume 27Mix 3.43% of portfolio

53/100

Sound

6© Warren LeMay from Cincinnati, OH, United States · CC0

Cincinnati, OHMetro

Volume 26Mix 3.30% of portfolio

52/100

Sound

Madison, WIMetro

Volume 19Mix 2.41% of portfolio

49/100

Sound

Dayton, OHMetro

Volume 18Mix 2.29% of portfolio

48/100

Sound

Chicago, ILMetro

Volume 22Mix 2.80% of portfolio

47/100

Sound

Arlington, VA-WVMetro

Volume 14Mix 1.78% of portfolio

43/100

Sound

Showing 10 of 14 metro areas

Top States by Place Specialization Score

IndianaState

Volume 232Mix 29.48% of portfolio

72/100

Strong

MassachusettsState

Volume 136Mix 17.28% of portfolio

68/100

Strong

OhioState

Volume 98Mix 12.45% of portfolio

61/100

Strong

MissouriState

Volume 60Mix 7.62% of portfolio

57/100

Sound

MarylandState

Volume 36Mix 4.57% of portfolio

52/100

Sound

LouisianaState

Volume 33Mix 4.19% of portfolio

52/100

Sound

IllinoisState

Volume 34Mix 4.32% of portfolio

50/100

Sound

WisconsinState

Volume 22Mix 2.80% of portfolio

47/100

Sound

AlabamaState

Volume 16Mix 2.03% of portfolio

44/100

Sound

KentuckyState

Volume 13Mix 1.65% of portfolio

42/100

Sound

Showing 10 of 14 states

How We Rank Lenders

Our rankings use an equal-weight average of scores across our core categories (Pricing, Product, Pull-Through, Place), with lender promptness blended in when a lender has responded to real shopper quote requests.

Our Point System (Max 30 Points)

10/ 30 pts

Pricing

Rate and fee competitiveness (33%)

10/ 30 pts

Pull Through

Reliability in closing loans (33%)

10/ 30 pts

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.

Looking for a different lender?

Are you the owner of Merchants Bank of Indiana?

Claim this profile to add your business logo, highlight verified loan officers, collect verified reviews, and customize your marketing presence.

Claim this Profile

The 5 PsRankings are calculated from observed lender differences on closed loans across Pricing, Pull-through, Product, and Place, plus Promptness when a lender has answered real shopper quote requests.

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.