Merchants Bank of Indiana in Illinois vs the state
2.6%Denial rate-14.51 pts vs state
3.1%Decision denial rate-18.55 pts vs state
80.9%Origination rate+22.13 pts vs state
6.38%Median rate-0.38 pts vs state
0.04Rate spread (pts)-0.34 pts vs state
$238kMedian applicant income
93Loans originated
3Denied
Trend in Illinois
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 51 | 35 | 5.9% | 6.88% | #453 |
| 2024 | 61 | 49 | 13.1% | 6.88% | #418 |
| 2025 | 115 | 93 | 2.6% | 6.38% | #327 |
What Merchants Bank of Indiana lends in Illinois
By loan purpose
By loan type
Why it denied Illinois applicants
Where in Illinois
Counties with the most Merchants Bank of Indiana applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Cook County | 42 | 29 | 2 | 4.8% |
| DuPage County | 34 | 30 | 1 | 2.9% |
| Lake County | 9 | 7 | 0 | 0.0% |
| Kane County | 8 | 6 | 0 | 0.0% |
| St. Clair County | 6 | 6 | 0 | 0.0% |
| Will County | 5 | 5 | 0 | 0.0% |
| Madison County | 2 | 2 | 0 | 0.0% |
| Kendall County | 2 | 2 | 0 | 0.0% |
| Monroe County | 2 | 1 | 0 | 0.0% |
| Champaign County | 1 | 1 | 0 | 0.0% |
Other large lenders in Illinois
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Guaranteed Rate | B | 17,479 | 4.9% | 6.63% |
| Rocket Mortgage | C | 16,971 | 19.7% | 6.75% |
| United Shore Financial Services | B | 15,644 | 13.0% | 6.50% |
| JPMorgan Chase Bank | B | 13,574 | 9.7% | 6.49% |
| U.S. Bank | D | 10,076 | 38.3% | 7.00% |
| Crosscountry Mortgage | B | 8,779 | 4.5% | 6.75% |
| Fifth Third Bank | D | 8,628 | 32.1% | 7.50% |
| The Huntington National Bank | D | 8,226 | 31.9% | 6.99% |
| BMO Bank | F | 8,007 | 32.7% | 8.33% |
| Loandepot.Com | D | 7,019 | 17.7% | 6.88% |
Frequently asked questions
Illinois: 115 applications in 2025, of which 93 were originated and 3 denied.
2.6% of all applications, or 3.1% of the applications it actually decided on. The Illinois statewide average across all lenders was 17.1%.
The median rate on loans Merchants Bank of Indiana originated in Illinois in 2025 was 6.38%, against a statewide median of 6.75%.
About this data. Figures are Merchants Bank of Indiana's own HMDA filing for properties located in Illinois, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology