Merchants Bank of Indiana in Massachusetts vs the state
5.6%Denial rate-10.62 pts vs state
5.8%Decision denial rate-14.18 pts vs state
90.7%Origination rate+28.08 pts vs state
6.50%Median rate-0.13 pts vs state
-0.05Rate spread (pts)-0.14 pts vs state
$156kMedian applicant income
146Loans originated
9Denied
Trend in Massachusetts
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 100 | 92 | 4.0% | 6.50% | #226 |
| 2024 | 150 | 141 | 4.0% | 6.63% | #182 |
| 2025 | 161 | 146 | 5.6% | 6.50% | #191 |
What Merchants Bank of Indiana lends in Massachusetts
By loan purpose
By loan type
Why it denied Massachusetts applicants
Where in Massachusetts
Counties with the most Merchants Bank of Indiana applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Plymouth County | 85 | 78 | 5 | 5.9% |
| Norfolk County | 36 | 32 | 2 | 5.6% |
| Suffolk County | 14 | 13 | 1 | 7.1% |
| Worcester County | 9 | 8 | 1 | 11.1% |
| Bristol County | 6 | 6 | 0 | 0.0% |
| Middlesex County | 6 | 5 | 0 | 0.0% |
| Barnstable County | 1 | 1 | 0 | 0.0% |
| Franklin County | 1 | 1 | 0 | 0.0% |
| Hampden County | 1 | 0 | 0 | 0.0% |
| Essex County | 1 | 1 | 0 | 0.0% |
Other large lenders in Massachusetts
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Citizens Bank | C | 17,476 | 29.0% | 7.40% |
| Rocket Mortgage | C | 8,698 | 15.9% | 6.75% |
| Bank of America | F | 7,784 | 30.1% | 5.99% |
| Guaranteed Rate | B | 7,313 | 4.5% | 6.50% |
| Eastern Bank | B | 6,216 | 31.8% | 6.99% |
| Rockland Trust | C | 5,990 | 28.6% | 6.99% |
| Leader Bank | A | 5,913 | 1.8% | 6.25% |
| United Shore Financial Services | B | 5,898 | 12.8% | 6.50% |
| Crosscountry Mortgage | B | 5,634 | 3.8% | 6.63% |
| TD Bank | D | 3,778 | 26.9% | 7.44% |
Frequently asked questions
Massachusetts: 161 applications in 2025, of which 146 were originated and 9 denied.
5.6% of all applications, or 5.8% of the applications it actually decided on. The Massachusetts statewide average across all lenders was 16.2%.
The median rate on loans Merchants Bank of Indiana originated in Massachusetts in 2025 was 6.50%, against a statewide median of 6.63%.
About this data. Figures are Merchants Bank of Indiana's own HMDA filing for properties located in Massachusetts, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology