Safe Rate Rankings

Best Mortgage Lenders in Indiana

Updated June 4, 2026

Rankings are a starting point, not a verdict. Safe Rate recommends speaking with 2-3 lenders to find the right fit for your home loan!

⚖️ 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 Lenders334

Total Loans90,243

Median Rate Spread0.38%

Indiana Market Insights

Everwise Credit Union is Safe Rate's top-ranked lender in Indiana, leading the composite scorecard across pricing, pullthrough, products, and local expertise.
Top-ranked by institution type in Indiana: Bank: Old National Bank (#2). Credit union: Everwise Credit Union (#1). Mortgage company: Victory Mortgage (#5).
There is often a pricing vs. pullthrough tradeoff in mortgage lending. In Indiana, Victory Mortgage and Old National Bank scores highest on pricing while United Wholesale Mortgage and Mortgage Masters of Indiana leads on likelihood to close. That is why we encourage speaking with multiple lenders.
United Wholesale Mortgage (UWM) ranks #9 in Indiana, serving as the platform behind many independent local brokers who live and work in the community. A local broker knows the neighborhoods, the local market, and is personally invested in your outcome. Real estate agents often prefer referring local brokers for their accessibility and responsiveness, qualities that matter when a deal is moving fast. Pricing and experience can vary by broker.
Popular names in Indiana: Rocket Mortgage (#17) and Ruoff Mortgage Company (#14), both outside Safe Rate's top 10. Independent lenders and specialists tend to score higher on our composite scorecard.

Explore Rankings by Type

By Loan Product

Lenders often score differently for different loan products. Get tailored rankings by selecting your product type.

FHA Loans Conventional Loans VA Loans Jumbo Loans USDA Loans

By Institution Type

Some consumers only want to work with a credit union, bank, or focused mortgage company. See our rankings here!

Banks Credit Unions Mortgage Companies

Shopping for a mortgage? Click the heart icon to save lenders to My Home and make comparison painless.

Rank	Lender	Overall	Pricing	Pull Through	Place	Avg Fees	Rate Spread	# of Loans
1	EVERWISE CREDIT UNION Credit UnionDirect	Exceptional	Exceptional	Strong	Exceptional	$642Fees	0.216%Above	665
2	Old National Bank BankDirect	Strong	Exceptional	Strong	Exceptional	$855Fees	0.103%Below	1,017
3	PURDUE Credit UnionDirect	Strong	Strong	Strong	Exceptional	$713Fees	0.158%Above	419
4	INDIANA UNIVERSITY CREDIT UNION Credit UnionDirect	Strong	Exceptional	Strong	Strong	$75Fees	0.059%Above	308
5	VICTORY MORTGAGE, L.L.C. Independent Mortgage CompanyDirect	Strong	Exceptional	Strong	Strong	$632Fees	0.030%Below	254
6	Three Rivers Federal Credit Union Credit UnionDirect	Strong	Strong	Strong	Exceptional	$994Fees	0.285%Above	1,246
7	MORTGAGE MASTERS OF INDIANA, INC. Independent Mortgage CompanyDirect	Strong	Sound	Exceptional	Exceptional	$1,482Fees	0.319%Above	801
8	Liberty Credit UnionDirect	Strong	Strong	Exceptional	Exceptional	$999Fees	0.350%Above	869
9	UNITED WHOLESALE MORTGAGE, LLC Independent Mortgage CompanyWholesale	Strong	Sound*	Exceptional	Exceptional	$2,474Fees	0.318%Above	3,640
10	First Merchants Bank BankDirect	Strong	Strong	Strong	Exceptional	$1,223Fees	0.290%Above	956
11	Elements Financial Federal Credit Union Credit UnionDirect	Strong	Exceptional	Strong	Exceptional	$1,100Fees	0.112%Above	500
12	NAVY FEDERAL CREDIT UNION Credit UnionDirect	Strong	Exceptional	Sound	Strong	$702Fees	0.482%Below	475
13	CRANE Credit UnionDirect	Strong	Exceptional	Sound	Strong	$698Fees	0.135%Above	199
14	RUOFF MORTGAGE COMPANY, INC. Independent Mortgage CompanyDirect	Strong	Sound	Strong	Exceptional	$1,831Fees	0.432%Above	5,510
15	Union Savings Bank BankDirect	Strong	Sound	Strong	Exceptional	$911Fees	0.189%Above	790
16	INDIANA MEMBERS CREDIT UNION Credit UnionDirect	Strong	Exceptional	Sound	Exceptional	$1,094Fees	0.280%Below	466
17	ROCKET MORTGAGE, LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Acceptable*	Exceptional	Exceptional	$3,509Fees	0.481%Above	6,448
18	VANDERBILT MORTGAGE AND FINANCE, INC. Independent Mortgage CompanyDirect	Strong	Sound	Exceptional	Exceptional	$4,447Fees	0.019%Above	1,219
19	The Huntington National Bank BankDirect	Strong	Strong	Strong	Strong	$1,093Fees	0.440%Above	951
20	Heritage Federal Credit Union Credit UnionDirect	Strong	Strong	Strong	Strong	$600Fees	0.379%Above	267
21	Centier Bank BankDirect	Strong	Sound	Strong	Exceptional	$655Fees	0.522%Above	575
22	NOTRE DAME FEDERAL CREDIT UNION CORPORATION Credit UnionDirect	Strong	Sound	Exceptional	Exceptional	$1,177Fees	0.391%Above	466
23	U.S. Bank National Association BankDirect	Strong	Strong	Strong	Strong	$748Fees	0.226%Above	309
24	The State Bank and Trust Company BankDirect	Strong	Strong	Strong	Strong	$1,054Fees	0.162%Above	218
25	MJW FINANCIAL LLC Independent Mortgage CompanyDirect	Strong	Sound	Strong	Exceptional	$1,611Fees	0.383%Above	1,221
26	FORUM Credit UnionDirect	Strong	Strong	Sound	Exceptional	$1,106Fees	0.052%Above	469
27	KeyBank National Association BankDirect	Strong	Strong	Strong	Strong	$1,128Fees	0.214%Above	276
28	Fifth Third Bank, National Association BankDirect	Strong	Strong	Strong	Exceptional	$787Fees	0.353%Above	1,342
29	PNC Bank, National Association BankDirect	Strong	Strong	Strong	Strong	$66Credit	0.289%Above	554
30	Centra Credit Union Credit UnionDirect	Strong	Sound	Exceptional	Exceptional	$981Fees	0.310%Above	513
31	PROFED CREDIT UNION Credit UnionDirect	Strong	Strong	Strong	Strong	$892Fees	0.040%Below	239
32	JPMorgan Chase Bank, National Association BankDirect & Wholesale	Strong	Sound*	Strong	Exceptional	$1,932Fees	0.269%Above	2,061
33	FREEDOM MORTGAGE CORPORATION Independent Mortgage CompanyDirect & Wholesale	Strong	Sound*	Strong	Exceptional	$2,132Fees	0.474%Above	1,304
34	1st Source Bank BankDirect	Strong	Sound	Strong	Exceptional	$1,043Fees	0.377%Above	433
35	University Bank BankDirect	Strong	Sound	Exceptional	Strong	$2,643Fees	0.261%Above	270
36	German American Bank BankDirect	Strong	Strong	Sound	Exceptional	$804Fees	0.148%Above	511
37	First Financial Bank, National Association BankDirect	Strong	Sound	Strong	Strong	$1,003Fees	0.352%Above	268
38	GVC MORTGAGE, INC. Independent Mortgage CompanyDirect	Strong	Mediocre	Exceptional	Exceptional	$3,110Fees	0.547%Above	3,045
39	FAIRWAY INDEPENDENT MORTGAGE CORPORATION Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Exceptional	$2,757Fees	0.617%Above	2,784
40	LOANDEPOT.COM, LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Sound*	Strong	Strong	$3,137Fees	0.526%Above	811
41	HALLMARK HOME MORTGAGE, LLC Independent Mortgage CompanyDirect	Strong	Mediocre	Exceptional	Exceptional	$2,559Fees	0.644%Above	1,542
42	First Financial Bank BankDirect	Strong	Sound	Strong	Exceptional	$1,327Fees	0.531%Above	700
43	FIRST COMMUNITY MORTGAGE, INC. Independent Mortgage CompanyDirect & Wholesale	Strong	Acceptable*	Exceptional	Strong	$3,283Fees	0.618%Above	551
44	Jackson County Bank BankDirect	Strong	Strong	Sound	Strong	$954Fees	0.082%Above	272
45	Merchants Bank of Indiana BankDirect & Wholesale	Strong	Sound*	Strong	Strong	$1,347Fees	0.237%Above	232
46	INTERRA CREDIT UNION Credit UnionDirect	Strong	Sound	Strong	Strong	$739Fees	0.193%Above	352
47	GUARANTEED RATE, INC. Independent Mortgage CompanyDirect	Strong	Sound	Strong	Strong	$2,260Fees	0.437%Above	982
48	CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP Independent Mortgage CompanyDirect & Wholesale	Strong	Acceptable*	Exceptional	Strong	$2,851Fees	0.832%Above	641
49	PENNYMAC LOAN SERVICES, LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Sound*	Strong	Strong	$1,142Fees	0.031%Above	458
50	Wells Fargo Bank, National Association BankDirect	Strong	Strong	Sound	Strong	$2,204Fees	0.161%Above	319

❓ Frequently Asked Questions

How are mortgage lenders ranked in Indiana?+

Safe Rate ranks lenders using the 4 Ps framework, derived entirely from HMDA (Home Mortgage Disclosure Act) data: Pricing (how competitively a lender prices loans vs. the market benchmark), Pullthrough (how effectively a lender closes applications), Place (the lender's depth of expertise in Indiana), and Product (performance on specific loan types). Each lender receives a composite Safe Rate Score from 0–100. No lender pays to appear in the rankings.

What is the Safe Rate Score?+

The Safe Rate Score is a 0–100 composite index measuring a lender's performance across Pricing, Pullthrough, Place, and Product. Scores of 80 or above earn Champion status; scores of 60–79 earn Superstar status. All scores are calculated from verified HMDA data — no lender can pay to improve their position.

How many mortgage lenders are active in Indiana?+

Based on 2024 HMDA data, 334 lenders originated a combined 90,243 loans in Indiana. Safe Rate's rankings evaluate all of them — not just a curated shortlist.

What does the rate spread tell me about a lender in Indiana?+

Rate spread measures how much above the Average Prime Offer Rate (APOR) a lender charges. The median rate spread in Indiana is 0.38%. Lenders in Safe Rate's top rankings consistently price below this median, meaning borrowers typically pay less interest over the life of their loan.

What is HMDA data and why does Safe Rate use it?+

HMDA (Home Mortgage Disclosure Act) is a federal law requiring every mortgage lender to disclose every loan application annually — including rates, amounts, approvals, and denials. Safe Rate uses HMDA because it is government-verified, covers all lenders equally, and cannot be gamed. It is the most objective foundation available for lender rankings.

Does Safe Rate accept payment from lenders to appear in rankings?+

No. Safe Rate rankings are strictly data-driven. No lender can pay to appear in or improve their position in Safe Rate's rankings. The only factor that determines a lender's rank is their verified HMDA performance data.

What is the difference between a bank, credit union, and independent mortgage company?+

Banks and credit unions offer mortgages alongside checking, savings, and other products. Independent Mortgage Companies (IMCs) focus exclusively on originating loans and often offer more product variety and speed. In Indiana's rankings, all three institution types are evaluated on the same HMDA performance metrics.

How We Rank Lenders

Our rankings use a weighted average of scores across equally-weighted categories to evaluate lenders on a linear, raw performance scale.

Our Point System (Max 30 Points)

Pricing

Rate and fee competitiveness (33%)

Pull Through

Reliability in closing loans (33%)

Place

Local market expertise (33%)

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.

⚖️ Licensing & Disclosures

Lender rankings and market statistics are created by Dylan Hall, licensed mortgage loan officer (NMLS #1658740). Safe Rate is a mortgage technology platform; mortgage lending services are provided by PartnerOwn LLC dba Safe Rate Mortgage, a licensed mortgage broker and lender (NMLS #1590949). Safe Rate Mortgage is a lending partner of some of the lenders ranked on this page, and Safe Rate Inc. has software or service customers on this list; however, all rankings are calculated using objective, public Home Mortgage Disclosure Act (HMDA) datasets, completely independent of any corporate partnerships, client relationships, or compensation.