First Internet Bank Of Indiana Mortgage Rates, Fees & Info
Fishers, INLEI: 549300B81YWV4GBENI49
Tax ID: 35-2029944
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Mortgage Data
Review & Overview
First Internet Bank Of Indiana is a smaller bank specializing in Home Purchase loans. First Internet Bank Of Indiana has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Indianapolis, New York, Los Angeles, Dallas, and North Port among others. We have data for 60 markets. (Some data included below & more in-depth data is available with an active subscription.)First Internet Bank Of Indiana has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. First Internet Bank Of Indiana is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.05% | 4/13/24 |
| 30 Year Conventional Refi | 6.21% | 4/13/24 |
| 30 Year Cash-out Refi | 6.53% | 4/13/24 |
| 30 Year FHA Purchase | 6.91% | 4/13/24 |
| 30 Year FHA Refi | 6.77% | 4/13/24 |
| 30 Year VA Purchase | 5.94% | 4/13/24 |
| 30 Year VA Refi | 6.27% | 4/13/24 |
| 15 Year Conventional Purchase | 5.64% | 4/13/24 |
| 15 Year Conventional Refi | 5.83% | 4/13/24 |
| 15 Year Cash-out Refi | 5.83% | 4/13/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
First Internet Bank Of Indiana Mortgage Calculator
Your Estimates
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This is not an official calculator from First Internet Bank Of Indiana. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
143Origination Dollar Volume (All Markets)
$46,535,000Awards
First Internet Bank of Indiana - 2023
First Internet Bank of Indiana is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
First Internet Bank Of Indiana's average 30 year fixed mortgage rate was
6.09%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.39%.
Relative Fees (Closing Costs)
First Internet Bank Of Indiana's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,537.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 41 | $11,075,000 | $270,122 | $2,606 | 6.49% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 11 | $5,585,000 | $507,727 | $7,683 | 5.95% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $1,595,000 | $531,667 | $4,186 | 6.71% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $1,590,000 | $397,500 | $4,995 | 5.72% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $1,445,000 | $1,445,000 | $11,184 | 5.63% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 3 | $1,375,000 | $458,333 | $3,640 | 5.79% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 3 | $1,305,000 | $435,000 | $3,858 | 5.83% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $1,210,000 | $605,000 | $2,266 | 5.88% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 5 | $1,195,000 | $239,000 | $3,578 | 6.17% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 4 | $1,160,000 | $290,000 | $2,528 | 6.60% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $1,110,000 | $555,000 | $7,510 | 5.56% |
| BOISE CITY, ID (FHA|USDA|VA) | 2 | $1,000,000 | $500,000 | $16,357 | 4.69% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $3,162 | 5.88% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $4,923 | 5.81% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $3,008 | 5.25% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $14,879 | 4.94% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $9,930 | 6.38% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $3,461 | 5.49% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $3,820 | 5.99% |
| TUCSON, AZ (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $9,420 | 5.69% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $2,630 | 6.13% |
| ANCHORAGE, AK (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $4,814 | 5.75% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $9,087 | 5.75% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $3,269 | 6.06% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $3,548 | 6.31% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $3,540 | 5.38% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $4,210 | 5.56% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $1,852 | 5.75% |
| New Castle, IN (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $4,990 | 6.88% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 7.75% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $2,745 | 5.75% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 7.38% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,837 | 6.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $1,212 | 6.76% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $4,140 | 6.25% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 7.13% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $734 | 6.49% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,422 | 5.63% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,072 | 5.75% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,797 | 5.75% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,668 | 6.13% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,021 | 5.25% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,083 | 5.63% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,312 | 5.63% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 6.25% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,791 | 5.75% |
| CASPER, WY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,365 | 6.25% |
| Warsaw, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,196 | 5.75% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,449 | 5.38% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,046 | 5.63% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 6.88% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $587 | 7.14% |
| Starkville, MS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,908 | 6.38% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.63% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.63% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 6.25% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,942 | 7.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.88% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $4,642 | 5.75% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $629 | 6.74% |
Similar Lenders
We use machine learning to identify the top lenders compared against First Internet Bank of Indiana based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 127 | $40,175,000 | $316,339 | $3,653 | 6.24% |
| FHA | 11 | $3,835,000 | $348,636 | $10,417 | 5.70% |
| VA | 5 | $2,525,000 | $505,000 | $4,467 | 5.50% |
For 2023, First Internet Bank Of Indiana's most frequently originated type of loan was Conventional, with 127 originations. Their 2nd most popular type was FHA, with 11 originations.
Loan Reason
For 2023, First Internet Bank Of Indiana's most frequently cited loan purpose was Home Purchase, with 109 originations. The 2nd most popular reason was Other, with 15 originations.
Loan Duration/Length
For 2023, First Internet Bank Of Indiana's most frequently cited loan duration was 30 Year, with 113 originations. The 2nd most popular length was 15 Year, with 18 originations.
Origination Fees/Closing Costs
First Internet Bank Of Indiana's average total fees were $4,537, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 78 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 60 | $22,080,000 | $368,000 |
| 6-7% | 55 | $14,275,000 | $259,545 |
| 7-8% | 17 | $5,365,000 | $315,588 |
| 4-5% | 10 | $4,660,000 | $466,000 |
| Over 8% | 1 | $155,000 | $155,000 |
During 2023, First Internet Bank Of Indiana's average interest rate for loans was 6.09%, while their most frequently originated rate bucket for loans was 5-6%, with 60 originations.
Loan Sizing
2023 saw First Internet Bank Of Indiana place emphasis on $100k-200k loans with 42 originations, totaling $6,410,000 in origination value.
Applicant Income
First Internet Bank Of Indiana lent most frequently to those with incomes in the $100k-150k range, with 41 originations. The second most popular income band? $150k-250k, with 32 originations.
Applicant Debt to Income Ratio
First Internet Bank Of Indiana lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 19 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.81%
First Internet Bank Of Indiana has a below average approval rate.
Pick Rate
Approvals leading to origination90.21%
First Internet Bank Of Indiana has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 143 | $46,535,000 | $325,420 |