Merchants Bank of Indiana in Florida vs the state
18.2%Denial rate-2.88 pts vs state
20.7%Decision denial rate-6.55 pts vs state
69.7%Origination rate+17.01 pts vs state
7.25%Median rate+0.63 pts vs state
0.34Rate spread (pts)+0.07 pts vs state
$157kMedian applicant income
23Loans originated
6Denied
Trend in Florida
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 36 | 30 | 5.6% | 7.79% | #698 |
| 2024 | 50 | 35 | 12.0% | 7.13% | #597 |
| 2025 | 33 | 23 | 18.2% | 7.25% | #673 |
What Merchants Bank of Indiana lends in Florida
By loan purpose
By loan type
Why it denied Florida applicants
Where in Florida
Counties with the most Merchants Bank of Indiana applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Polk County | 5 | 3 | 2 | 40.0% |
| Sarasota County | 3 | 3 | 0 | 0.0% |
| Orange County | 3 | 1 | 1 | 33.3% |
| Hillsborough County | 3 | 3 | 0 | 0.0% |
| St. Johns County | 3 | 2 | 0 | 0.0% |
| Lake County | 2 | 1 | 0 | 0.0% |
| Lee County | 2 | 1 | 1 | 50.0% |
| Volusia County | 2 | 2 | 0 | 0.0% |
| Duval County | 2 | 2 | 0 | 0.0% |
| Marion County | 2 | 1 | 0 | 0.0% |
Other large lenders in Florida
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| United Shore Financial Services | B | 71,405 | 15.3% | 6.44% |
| Rocket Mortgage | C | 46,611 | 21.0% | 6.63% |
| Bank of America | F | 23,634 | 37.7% | 6.24% |
| Pennymac Loan Services | C | 19,516 | 14.1% | 6.50% |
| Navy Federal Credit Union | D | 19,452 | 23.2% | 7.59% |
| Crosscountry Mortgage | B | 19,103 | 5.2% | 6.75% |
| Newrez | D | 17,519 | 22.4% | 6.75% |
| Dhi Mortgage Company | B | 16,661 | 14.5% | 4.88% |
| Lennar Mortgage | A | 14,984 | 21.0% | 4.75% |
| Truist Bank | C | 14,140 | 41.5% | 6.60% |
Frequently asked questions
Florida: 33 applications in 2025, of which 23 were originated and 6 denied.
18.2% of all applications, or 20.7% of the applications it actually decided on. The Florida statewide average across all lenders was 21.1%.
The median rate on loans Merchants Bank of Indiana originated in Florida in 2025 was 7.25%, against a statewide median of 6.63%.
About this data. Figures are Merchants Bank of Indiana's own HMDA filing for properties located in Florida, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology