Safe Rate Rankings

Best Conventional Mortgage Lenders in Indianapolis

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 Lenders197

Total Loans32,863

Median Rate Spread0.35%

Indianapolis Market Insights

Old National Bank is Safe Rate's top-ranked Conventional lender in Indianapolis, leading on pricing, pullthrough, Conventional product expertise, and local knowledge.
There is often a pricing vs. pullthrough tradeoff in mortgage lending. In Indianapolis, Navy Federal Credit Union and Victory Mortgage scores highest on Conventional pricing while Rocket Mortgage and United Wholesale Mortgage leads on likelihood to close. That is why we encourage speaking with multiple lenders.
United Wholesale Mortgage (UWM) ranks #2 in Indianapolis, 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 Indianapolis: Rocket Mortgage (#4) and Gvc Mortgage (#25).

Explore Rankings by Type

Overall Rankings

All lenders in Indianapolis

Need rankings for a different loan product?

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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	Old National Bank BankDirect	Strong	Exceptional	Exceptional	Strong	Strong	$863Fees	0.418%Below	342
2	UNITED WHOLESALE MORTGAGE, LLC Independent Mortgage CompanyWholesale	Strong	Acceptable*	Exceptional	Exceptional	Exceptional	$2,607Fees	0.279%Above	1,801
3	The Huntington National Bank BankDirect	Strong	Strong	Exceptional	Strong	Exceptional	$1,042Fees	0.408%Above	531
4	ROCKET MORTGAGE, LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Acceptable*	Exceptional	Exceptional	Exceptional	$3,533Fees	0.386%Above	2,281
5	VICTORY MORTGAGE, L.L.C. Independent Mortgage CompanyDirect	Strong	Exceptional	Strong	Strong	Strong	$628Fees	0.050%Below	223
6	RUOFF MORTGAGE COMPANY, INC. Independent Mortgage CompanyDirect	Strong	Sound	Exceptional	Strong	Exceptional	$1,858Fees	0.375%Above	1,232
7	JPMorgan Chase Bank, National Association BankDirect & Wholesale	Strong	Sound*	Exceptional	Strong	Exceptional	$1,887Fees	0.209%Above	765
8	Union Savings Bank BankDirect	Strong	Sound	Exceptional	Strong	Exceptional	$1,004Fees	0.183%Above	494
9	NAVY FEDERAL CREDIT UNION Credit UnionDirect	Strong	Exceptional	Exceptional	Sound	Strong	$594Fees	0.446%Below	137
10	U.S. Bank National Association BankDirect	Strong	Strong	Exceptional	Strong	Strong	$582Fees	0.150%Above	121
11	INDIANA MEMBERS CREDIT UNION Credit UnionDirect	Strong	Exceptional	Strong	Sound	Exceptional	$1,106Fees	0.235%Below	323
12	First Merchants Bank BankDirect	Strong	Strong	Exceptional	Strong	Strong	$976Fees	0.254%Above	254
13	PNC Bank, National Association BankDirect	Strong	Strong	Exceptional	Strong	Strong	$463Credit	0.260%Above	210
14	FAIRWAY INDEPENDENT MORTGAGE CORPORATION Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Exceptional	$2,630Fees	0.552%Above	1,580
15	KeyBank National Association BankDirect	Strong	Strong	Exceptional	Strong	Strong	$966Fees	0.234%Above	190
16	FLAT BRANCH MORTGAGE, INC. Independent Mortgage CompanyDirect	Strong	Sound	Exceptional	Exceptional	Sound	$1,686Fees	0.297%Above	83
17	VANDERBILT MORTGAGE AND FINANCE, INC. Independent Mortgage CompanyDirect	Strong	Sound	Exceptional	Strong	Exceptional	$4,291Fees	0.004%Above	966
18	The State Bank and Trust Company BankDirect	Strong	Strong	Strong	Strong	Strong	$1,022Fees	0.146%Above	162
19	PROVIDENT FUNDING ASSOCIATES, L.P. Independent Mortgage CompanyWholesale	Strong	Exceptional*	Exceptional	Sound	Strong	$1,085Fees	0.037%Above	121
20	EVERWISE CREDIT UNION Credit UnionDirect	Strong	Strong	Strong	Strong	Strong	$430Fees	0.201%Above	109
21	Bank of America, National Association BankDirect	Strong	Strong	Exceptional	Strong	Strong	$1,012Fees	0.044%Below	102
22	MJW FINANCIAL LLC Independent Mortgage CompanyDirect	Strong	Sound	Strong	Strong	Exceptional	$1,564Fees	0.354%Above	1,020
23	Elements Financial Federal Credit Union Credit UnionDirect	Strong	Exceptional	Strong	Sound	Exceptional	$1,096Fees	0.115%Above	452
24	Fifth Third Bank, National Association BankDirect	Strong	Strong	Exceptional	Sound	Strong	$696Fees	0.264%Above	409
25	GVC MORTGAGE, INC. Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Exceptional	$3,161Fees	0.446%Above	1,693
26	CROSSCOUNTRY MORTGAGE, LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Exceptional	$2,829Fees	0.636%Above	804
27	LOANDEPOT.COM, LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Sound*	Exceptional	Strong	Strong	$3,102Fees	0.456%Above	251
28	UNION HOME MORTGAGE CORP. Independent Mortgage CompanyDirect & Wholesale	Strong	Acceptable*	Exceptional	Strong	Exceptional	$2,193Fees	0.661%Above	647
29	GUILD MORTGAGE COMPANY LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Strong	$2,085Fees	0.440%Above	421
30	FORUM Credit UnionDirect	Strong	Strong	Sound	Sound	Exceptional	$1,168Fees	0.018%Above	411
31	NEWREZ LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Acceptable*	Exceptional	Sound	Exceptional	$2,167Fees	0.470%Above	731
32	GUARANTEED RATE, INC. Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Strong	$1,977Fees	0.371%Above	261
33	FIRST COMMUNITY MORTGAGE, INC. Independent Mortgage CompanyDirect & Wholesale	Strong	Acceptable*	Exceptional	Strong	Strong	$3,767Fees	0.628%Above	240
34	Centier Bank BankDirect	Strong	Sound	Strong	Strong	Strong	$569Fees	0.554%Above	105
35	Wells Fargo Bank, National Association BankDirect	Strong	Strong	Exceptional	Sound	Strong	$2,059Fees	0.124%Above	90
36	Jackson County Bank BankDirect	Strong	Strong	Strong	Strong	Strong	$1,174Fees	0.154%Above	80
37	HOWARD HANNA FINANCIAL SERVICES, INC. Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Strong	$2,196Fees	0.363%Above	264
38	Flagstar Bank, N.A. BankDirect & Wholesale	Strong	Acceptable*	Exceptional	Strong	Strong	$1,637Fees	0.547%Above	159
39	CMG MORTGAGE, INC. Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Strong	$2,132Fees	0.567%Above	105
40	First Financial Bank BankDirect	Strong	Sound	Exceptional	Strong	Strong	$1,565Fees	0.467%Above	103
41	Centra Credit Union Credit UnionDirect	Strong	Sound	Strong	Exceptional	Strong	$897Fees	0.254%Above	102
42	MOVEMENT MORTGAGE, LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Sound	$3,009Fees	0.635%Above	77
43	HALLMARK HOME MORTGAGE, LLC Independent Mortgage CompanyDirect	Strong	Mediocre	Exceptional	Strong	Exceptional	$2,260Fees	0.506%Above	337
44	Regions Bank BankDirect	Strong	Acceptable	Exceptional	Strong	Strong	$1,401Fees	0.415%Above	165
45	M/I FINANCIAL, LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Strong	Strong	Exceptional	$6,197Fees	0.533%Below	414
46	Merchants Bank of Indiana BankDirect & Wholesale	Strong	Sound*	Strong	Sound	Strong	$1,383Fees	0.156%Above	192
47	PRIMELENDING, A PLAINSCAPITAL COMPANY Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Strong	$2,728Fees	0.596%Above	117
48	MUTUAL OF OMAHA MORTGAGE, INC. Independent Mortgage CompanyDirect	Strong	Strong	Strong	Sound	Strong	$1,290Fees	0.105%Above	102
49	THE LOAN STORE, INC. Independent Mortgage CompanyWholesale	Strong	Acceptable*	Exceptional	Strong	Sound	$1,970Fees	0.371%Above	83
50	NEW AMERICAN FUNDING, LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Sound	Strong	$3,547Fees	0.785%Above	286

❓ Frequently Asked Questions

How are mortgage lenders ranked in Indianapolis?+

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 Indianapolis), 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 Indianapolis?+

Based on 2024 HMDA data, 197 lenders originated a combined 32,863 loans in Indianapolis. Safe Rate's rankings evaluate all of them — not just a curated shortlist.

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

Rate spread measures how much above the Average Prime Offer Rate (APOR) a lender charges. The median rate spread in Indianapolis is 0.35%. 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 Indianapolis'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.