Mercantile Bank in Indiana vs the state
12.5%Denial rate-4.07 pts vs state
16.7%Decision denial rate-3.47 pts vs state
62.5%Origination rate+0.25 pts vs state
6.50%Median rate-0.25 pts vs state
0.48Rate spread (pts)+0.12 pts vs state
$98kMedian applicant income
5Loans originated
1Denied
What Mercantile Bank lends in Indiana
By loan purpose
By loan type
Why it denied Indiana applicants
Where in Indiana
Counties with the most Mercantile Bank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Hamilton County | 3 | 3 | 0 | 0.0% |
| Owen County | 2 | 0 | 0 | 0.0% |
| Elkhart County | 1 | 0 | 1 | 100.0% |
| St. Joseph County | 1 | 1 | 0 | 0.0% |
| Lake County | 1 | 1 | 0 | 0.0% |
Other large lenders in Indiana
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Rocket Mortgage | C | 13,503 | 18.6% | 6.75% |
| Ruoff Mortgage Company | A | 8,860 | 4.0% | 6.75% |
| Fifth Third Bank | D | 8,693 | 27.6% | 7.75% |
| United Shore Financial Services | B | 8,659 | 12.2% | 6.38% |
| Freedom Mortgage | B | 5,454 | 8.9% | 6.25% |
| Newrez | D | 5,421 | 18.2% | 6.63% |
| First Merchants Bank | C | 5,114 | 19.9% | 6.76% |
| Fairway Independent Mortgage | B | 4,813 | 7.4% | 6.75% |
| Mortgage Research Center | C | 4,791 | 19.0% | 6.25% |
| PNC Bank | D | 4,724 | 25.1% | 7.55% |
Frequently asked questions
Indiana: 8 applications in 2025, of which 5 were originated and 1 denied.
12.5% of all applications, or 16.7% of the applications it actually decided on. The Indiana statewide average across all lenders was 16.6%.
The median rate on loans Mercantile Bank originated in Indiana in 2025 was 6.50%, against a statewide median of 6.75%.
About this data. Figures are Mercantile Bank's own HMDA filing for properties located in Indiana, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology