Lender profile · HMDA 2023–2025
Merchants Bank of Indiana mortgage approval rates & lending data
Merchants Bank of Indiana decided 2,436 mortgage applications and funded 2,049 loans across the 616 counties Fat Boy Data covers, 2023–2025.
Approval by loan type
| Loan type | Approval | Approved | Taken up | Typical loan | Loans made |
|---|---|---|---|---|---|
| Mortgage lenders | 90% | 1,551 / 1,723 | 94% | $285K | 1,452 |
| Cash-out refinance | 90% | 360 / 399 | 95% | $255K | 341 |
| Refinance | 90% | 159 / 176 | 95% | $375K | 151 |
| Investment property purchase | 87% | 77 / 89 | 95% | $295K | 73 |
| Investment cash-out refinance | 70% | 30 / 43 | 93% | $215K | 28 |
Merchants Bank of Indiana lending by state
| State | Approval | Typical loan | Decided | Loans made |
|---|---|---|---|---|
| Indiana | 87% | $195K | 904 | 737 |
| Massachusetts | 95% | $485K | 402 | 375 |
| Ohio | 89% | $225K | 297 | 252 |
| Illinois | 95% | $425K | 171 | 158 |
| Missouri | 94% | $255K | 122 | 97 |
| Florida | 90% | $465K | 86 | 73 |
| Louisiana | 90% | $285K | 67 | 58 |
| Maryland | 81% | $475K | 57 | 37 |
| Alabama | 95% | $295K | 37 | 31 |
| Virginia | 74% | $395K | 34 | 20 |
| Texas | 88% | $365K | 32 | 25 |
| Colorado | 76% | $345K | 21 | 14 |
| Georgia | 95% | $425K | 21 | 19 |
| Kentucky | 100% | $175K | 21 | 19 |
| Wisconsin | 100% | $305K | 21 | 21 |
Covers the 616 counties in the Fat Boy Data footprint, which is 79.6% of the US population — not every county in each state. Methodology.