Safe Rate Rankings

Best Jumbo 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

Us Bank National Association is Safe Rate's top-ranked Jumbo lender in Indiana, leading on pricing, pullthrough, Jumbo product expertise, and local knowledge.
There is often a pricing vs. pullthrough tradeoff in mortgage lending. In Indiana, Us Bank National Association and Everwise Credit Union scores highest on Jumbo pricing while Merchants Bank of India and Three Rivers Federal Credit Union leads on likelihood to close. That is why we encourage speaking with multiple lenders.
United Wholesale Mortgage (UWM) ranks #3 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.
Rocket Mortgage ranks #4 in Indiana, the nation's largest lender by volume.

Explore Rankings by Type

Overall Rankings

All lenders in Indiana

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By Institution Type

Banks Credit Unions Mortgage Companies

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Rank	Lender	Overall	Pricing	Product	Pull Through	Place	Avg Fees	Rate Spread	# of Loans
1	U.S. Bank National Association BankDirect	Exceptional	Exceptional	Exceptional	Strong	Strong	$748Fees	0.226%Above	309
2	Fifth Third Bank, National Association BankDirect	Exceptional	Strong	Exceptional	Strong	Exceptional	$787Fees	0.353%Above	1,342
3	UNITED WHOLESALE MORTGAGE, LLC Independent Mortgage CompanyWholesale	Strong	Sound*	Exceptional	Strong	Exceptional	$2,474Fees	0.318%Above	3,640
4	ROCKET MORTGAGE, LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Sound*	Exceptional	Strong	Exceptional	$3,509Fees	0.481%Above	6,448
5	Three Rivers Federal Credit Union Credit UnionDirect	Strong	Strong	Strong	Strong	Exceptional	$994Fees	0.285%Above	1,246
6	Old National Bank BankDirect	Strong	Strong	Exceptional	Strong	Exceptional	$855Fees	0.103%Below	1,017
7	JPMorgan Chase Bank, National Association BankDirect & Wholesale	Strong	Sound*	Exceptional	Strong	Exceptional	$1,932Fees	0.269%Above	2,061
8	CROSSCOUNTRY MORTGAGE, LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Strong	$3,158Fees	0.696%Above	1,396
9	EVERWISE CREDIT UNION Credit UnionDirect	Strong	Exceptional	—	Strong	Exceptional	$642Fees	0.216%Above	665
10	Merchants Bank of Indiana BankDirect & Wholesale	Strong	Sound*	Strong	Exceptional	Strong	$1,347Fees	0.237%Above	232
11	INDIANA MEMBERS CREDIT UNION Credit UnionDirect	Strong	Exceptional	Strong	Sound	Exceptional	$1,094Fees	0.280%Below	466
12	VICTORY MORTGAGE, L.L.C. Independent Mortgage CompanyDirect	Strong	Exceptional	—	Strong	Strong	$632Fees	0.030%Below	254
13	The Huntington National Bank BankDirect	Strong	Acceptable	Exceptional	Strong	Strong	$1,093Fees	0.440%Above	951
14	First Financial Bank BankDirect	Strong	Sound	Exceptional	Strong	Exceptional	$1,327Fees	0.531%Above	700
15	Centier Bank BankDirect	Strong	Sound	Strong	Strong	Exceptional	$655Fees	0.522%Above	575
16	1st Source Bank BankDirect	Strong	Sound	Strong	Strong	Exceptional	$1,043Fees	0.377%Above	433
17	Regions Bank BankDirect	Strong	Sound	Exceptional	Strong	Strong	$1,570Fees	0.473%Above	376
18	Jackson County Bank BankDirect	Strong	Strong	Strong	Strong	Strong	$954Fees	0.082%Above	272
19	Elements Financial Federal Credit Union Credit UnionDirect	Strong	Exceptional	Strong	Sound	Exceptional	$1,100Fees	0.112%Above	500
20	FAIRWAY INDEPENDENT MORTGAGE CORPORATION Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Exceptional	$2,757Fees	0.617%Above	2,784
21	Horizon Bank BankDirect	Strong	Sound	Strong	Strong	Exceptional	$1,577Fees	0.440%Above	468
22	First Merchants Bank BankDirect	Strong	Acceptable	Exceptional	Strong	Exceptional	$1,223Fees	0.290%Above	956
23	Union Savings Bank BankDirect	Strong	Acceptable	Exceptional	Strong	Exceptional	$911Fees	0.189%Above	790
24	FORUM Credit UnionDirect	Strong	Strong	—	Sound	Exceptional	$1,106Fees	0.052%Above	469
25	Liberty Credit UnionDirect	Strong	Acceptable	Strong	Strong	Exceptional	$999Fees	0.350%Above	869
26	First Federal Savings Bank BankDirect	Strong	Acceptable	Strong	Strong	Exceptional	$1,431Fees	0.614%Above	499
27	STAR Financial Bank BankDirect	Strong	Sound	Strong	Sound	Strong	$1,264Fees	0.144%Above	227
28	Security Federal Savings Bank BankDirect	Sound	Sound	—	Sound	Strong	$742Fees	0.365%Above	206
29	Flagstar Bank, N.A. BankDirect & Wholesale	Sound	Mediocre*	Exceptional	Sound	Strong	$1,965Fees	0.449%Above	483
30	Farm Credit Mid-America, ACA Independent Mortgage CompanyDirect & Wholesale	Sound	Mediocre*	Exceptional	Sound	Strong	$4,928Fees	0.521%Above	352

❓ 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 40 Points)

Pricing

Rate and fee competitiveness (25%)

Pull Through

Reliability in closing loans (25%)

Product

Specialization in the loan type (25%)

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.

⚖️ 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.