Merchants Bank Of Indiana Mortgage Rates, Fees & Info
Carmel, INLEI: 549300WRDGBHKR1BXL98
Tax ID: 35-0352710
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Mortgage Data
Review & Overview
Merchants Bank Of Indiana is a small bank specializing in Home Purchase and Refi loans. Merchants Bank Of Indiana has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Indianapolis, New York, Pittsburgh, Austin, and San Antonio among others. We have data for 139 markets. (Some data included below & more in-depth data is available with an active subscription.)Merchants Bank Of Indiana has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Merchants 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 about average 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 8.00% | 6/22/25 |
| 30 Year Conventional Purchase | 6.93% | 6/22/25 |
| 30 Year Conventional Refi | 6.62% | 6/22/25 |
| 30 Year Cash-out Refi | 7.12% | 6/22/25 |
| 30 Year FHA Purchase | 7.31% | 6/22/25 |
| 30 Year FHA Refi | 6.95% | 6/22/25 |
| 30 Year VA Purchase | 6.50% | 6/22/25 |
| 30 Year VA Refi | 6.08% | 6/22/25 |
| 30 Year USDA Purchase | 6.95% | 6/22/25 |
| 15 Year Conventional Purchase | 6.35% | 6/22/25 |
| 15 Year Conventional Refi | 6.56% | 6/22/25 |
| 15 Year Cash-out Refi | 6.56% | 6/22/25 |
| 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. | ||
Merchants Bank Of Indiana Mortgage Calculator
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This is not an official calculator from Merchants 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
1,094Origination Dollar Volume (All Markets)
$2,839,290,000Awards
Merchants Bank of Indiana - 2024
Merchants Bank of Indiana is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Merchants Bank Of Indiana's average 30 year fixed mortgage rate was
6.73%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.18%.
Relative Fees (Closing Costs)
Merchants Bank Of Indiana's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,302.
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 $8,356.
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) | 296 | $704,150,000 | $2,378,885 | $3,918 | 7.16% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 13 | $269,895,000 | $20,761,154 | $4,694 | 7.71% |
| PITTSBURGH, PA (FHA|USDA|VA) | 10 | $110,770,000 | $11,077,000 | $6,632 | 6.84% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $90,000,000 | $45,000,000 | $4,567 | 7.05% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $78,280,000 | $39,140,000 | $0 | 6.18% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 2 | $77,890,000 | $38,945,000 | $0 | 8.57% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 2 | $73,510,000 | $36,755,000 | $0 | 8.58% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 126 | $65,350,000 | $518,651 | $6,747 | 6.54% |
| Outside of Metro Areas | 39 | $58,525,000 | $1,500,641 | $4,287 | 7.33% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $58,370,000 | $29,185,000 | $0 | 7.82% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $58,335,000 | $19,445,000 | $0 | 7.25% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 4 | $56,200,000 | $14,050,000 | $0 | 7.73% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 40 | $53,020,000 | $1,325,500 | $5,438 | 6.97% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $51,415,000 | $51,415,000 | $0 | 9.57% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 2 | $45,360,000 | $22,680,000 | $0 | 7.71% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 4 | $42,490,000 | $10,622,500 | $3,533 | 6.67% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $40,600,000 | $20,300,000 | $1,025 | 7.24% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $40,115,000 | $13,371,667 | $20,045 | 7.21% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $39,920,000 | $19,960,000 | $15,565 | 7.86% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 2 | $39,010,000 | $19,505,000 | $0 | 8.08% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 12 | $38,350,000 | $3,195,833 | $3,427 | 7.69% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 50 | $37,010,000 | $740,200 | $10,005 | 6.55% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 69 | $36,385,000 | $527,319 | $2,242 | 6.68% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 2 | $34,070,000 | $17,035,000 | $0 | 7.85% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 2 | $31,310,000 | $15,655,000 | $0 | 7.99% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 3 | $27,465,000 | $9,155,000 | $6,215 | 7.82% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 29 | $26,845,000 | $925,690 | $3,477 | 6.83% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 4 | $26,600,000 | $6,650,000 | $3,022 | 6.83% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $26,055,000 | $8,685,000 | $8,365 | 7.94% |
| FORT WAYNE, IN (FHA|USDA|VA) | 9 | $25,525,000 | $2,836,111 | $2,643 | 7.04% |
| RICHMOND, VA (FHA|USDA|VA) | 3 | $25,525,000 | $8,508,333 | $5,517 | 7.76% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $23,415,000 | $23,415,000 | $0 | 8.10% |
| COLUMBUS, OH (FHA|USDA|VA) | 31 | $21,755,000 | $701,774 | $3,655 | 6.77% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 5 | $21,535,000 | $4,307,000 | $3,593 | 7.86% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 2 | $20,250,000 | $10,125,000 | $0 | 7.66% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 5 | $19,655,000 | $3,931,000 | $0 | 8.35% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 8 | $17,580,000 | $2,197,500 | $9,574 | 6.56% |
| SYRACUSE, NY (FHA|USDA|VA) | 1 | $16,025,000 | $16,025,000 | $0 | 7.79% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 4 | $15,400,000 | $3,850,000 | $2,571 | 7.30% |
| KOKOMO, IN (FHA|USDA|VA) | 6 | $13,290,000 | $2,215,000 | $3,859 | 6.81% |
| MADISON, WI (FHA|USDA|VA) | 20 | $13,290,000 | $664,500 | $3,923 | 6.67% |
| Washington, IN (FHA|USDA|VA) | 2 | $13,020,000 | $6,510,000 | $0 | 6.93% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $12,355,000 | $12,355,000 | $0 | 9.08% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $12,085,000 | $4,028,333 | $0 | 8.10% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $11,615,000 | $11,615,000 | $0 | 8.07% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $11,475,000 | $11,475,000 | $0 | 8.07% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $11,410,000 | $5,705,000 | $3,410 | 7.55% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $11,125,000 | $11,125,000 | $0 | 7.34% |
| BOISE CITY, ID (FHA|USDA|VA) | 3 | $10,895,000 | $3,631,667 | $0 | 8.24% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $10,645,000 | $10,645,000 | $0 | 8.17% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $10,345,000 | $10,345,000 | $0 | 7.45% |
| LOUISVILLE, KY (FHA|USDA|VA) | 5 | $10,145,000 | $2,029,000 | $3,023 | 8.35% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 2 | $9,880,000 | $4,940,000 | $495 | 7.56% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $9,705,000 | $9,705,000 | $0 | 7.58% |
| DANVILLE, IL (FHA|USDA|VA) | 1 | $9,105,000 | $9,105,000 | $0 | 6.98% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 6 | $8,880,000 | $1,480,000 | $6,858 | 6.89% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $8,505,000 | $8,505,000 | $0 | 7.98% |
| Marion, OH (FHA|USDA|VA) | 1 | $7,115,000 | $7,115,000 | $0 | 8.34% |
| BAY CITY, MI (FHA|USDA|VA) | 1 | $6,195,000 | $6,195,000 | $0 | 8.32% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 15 | $6,175,000 | $411,667 | $12,395 | 6.70% |
| MUNCIE, IN (FHA|USDA|VA) | 3 | $4,325,000 | $1,441,667 | $2,907 | 7.36% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 9 | $3,785,000 | $420,556 | $10,408 | 6.46% |
| HATTIESBURG, MS (FHA|USDA|VA) | 10 | $3,420,000 | $342,000 | $5,607 | 6.60% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 19 | $3,175,000 | $167,105 | $4,125 | 6.72% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 9 | $3,155,000 | $350,556 | $7,619 | 7.08% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 12 | $2,980,000 | $248,333 | $4,578 | 6.50% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $2,380,000 | $1,190,000 | $12,716 | 6.69% |
| COLUMBUS, IN (FHA|USDA|VA) | 2 | $2,190,000 | $1,095,000 | $0 | 8.07% |
| MONROE, LA (FHA|USDA|VA) | 7 | $2,175,000 | $310,714 | $5,167 | 6.77% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 5 | $2,115,000 | $423,000 | $9,095 | 6.52% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $2,040,000 | $1,020,000 | $0 | 8.14% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $2,015,000 | $403,000 | $7,608 | 7.35% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $2,015,000 | $2,015,000 | $4,617 | 6.75% |
| AKRON, OH (FHA|USDA|VA) | 7 | $1,875,000 | $267,857 | $4,017 | 6.64% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $1,860,000 | $465,000 | $5,303 | 7.30% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $1,785,000 | $1,785,000 | $10,155 | 6.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $1,775,000 | $591,667 | $6,929 | 7.29% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 7 | $1,725,000 | $246,429 | $4,579 | 6.60% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 4 | $1,700,000 | $425,000 | $10,365 | 6.75% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 4 | $1,590,000 | $397,500 | $4,847 | 6.47% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $1,410,000 | $705,000 | $0 | 8.37% |
| Richmond, IN (FHA|USDA|VA) | 14 | $1,400,000 | $100,000 | $3,013 | 6.82% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $1,345,000 | $1,345,000 | $0 | 7.15% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 4 | $1,230,000 | $307,500 | $4,951 | 6.84% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $1,060,000 | $530,000 | $5,736 | 6.81% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $5,961 | 6.56% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 2 | $920,000 | $460,000 | $0 | 8.24% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $885,000 | $885,000 | $0 | 8.03% |
| Ruston, LA (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $4,313 | 6.50% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $4,511 | 6.75% |
| Natchitoches, LA (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $5,957 | 6.42% |
| Lincoln, IL (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 8.32% |
| Salem, OH (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $3,679 | 6.75% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 4 | $790,000 | $197,500 | $3,123 | 6.91% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $0 | 9.00% |
| Wooster, OH (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $5,775 | 5.94% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $5,103 | 7.00% |
| LAFAYETTE, LA (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $6,828 | 6.13% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $4,914 | 6.31% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $2,528 | 7.01% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $5,143 | 6.13% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $4,587 | 6.50% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $7,386 | 6.50% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 8.07% |
| Angola, IN (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $3,925 | 6.69% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $5,694 | 6.50% |
| Warsaw, IN (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $4,557 | 8.31% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 7.59% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 7.15% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $5,824 | 7.25% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 8.35% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $13,318 | 6.50% |
| Greenville, OH (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $2,528 | 7.00% |
| New Castle, IN (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $4,611 | 7.19% |
| Baraboo, WI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,722 | 6.63% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,004 | 7.00% |
| DeRidder, LA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,977 | 6.63% |
| Alice, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,294 | 6.50% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,858 | 6.13% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,790 | 6.00% |
| Ottawa, KS (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,971 | 6.63% |
| Wilmington, OH (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,632 | 6.25% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $9,916 | 6.13% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,667 | 7.13% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,560 | 5.99% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 7.15% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $11,573 | 5.50% |
| Selma, AL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,656 | 6.13% |
| Mount Vernon, OH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,501 | 7.13% |
| Helena-West Helena, AR (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $3,247 | 6.44% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 8.05% |
| Auburn, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,322 | 6.63% |
| Washington Court House, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,813 | 7.13% |
| Decatur, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,611 | 6.50% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,612 | 6.50% |
| Bogalusa, LA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,990 | 7.50% |
| Sidney, OH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,586 | 6.50% |
| JACKSON, MS (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,290 | 7.49% |
| Kendallville, IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,123 | 7.25% |
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Product Mix
For 2024, Merchants Bank Of Indiana's most frequently originated type of loan was Conventional, with 894 originations. Their 2nd most popular type was HELOC, with 129 originations.
Loan Reason
For 2024, Merchants Bank Of Indiana's most frequently cited loan purpose was Home Purchase, with 807 originations. The 2nd most popular reason was Cash Out Refi, with 148 originations.
Loan Duration/Length
For 2024, Merchants Bank Of Indiana's most frequently cited loan duration was 30 Year, with 849 originations. The 2nd most popular length was Other, with 156 originations.
Origination Fees/Closing Costs
Merchants Bank Of Indiana's average total fees were $5,302, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 282 originations.
Interest Rates
During 2024, Merchants Bank Of Indiana's average interest rate for loans was 6.73%, while their most frequently originated rate bucket for loans was 6-7%, with 583 originations.
Loan Sizing
2024 saw Merchants Bank Of Indiana place emphasis on $200k-400k loans with 354 originations, totaling $101,390,000 in origination value.
Applicant Income
Merchants Bank Of Indiana lent most frequently to those with incomes in the $100k-150k range, with 215 originations. The second most popular income band? $150k-250k, with 204 originations.
Applicant Debt to Income Ratio
Merchants Bank Of Indiana lent most frequently to those with DTI ratios of 30-36%, with 175 originations. The next most common DTI ratio? 20-30%, with 158 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.16%
Merchants Bank Of Indiana has an average approval rate.
Pick Rate
Approvals leading to origination80.53%
Merchants Bank Of Indiana has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,094 | $2,839,290,000 | $2,595,329 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,094 | $2,839,290,000 | $2,595,329 |