Top Mortgage Lenders in the Muncie, IN area

Which mortgage lender in the Muncie, IN area typically has the best rates? To help you narrow down where to shop for a mortgage, we provide a data driven ranking of mortgage lenders in the Muncie, IN area by interest rate and market share. We use data on all fixed rate mortgages that were closed in the past year to generate our rankings. We do not receive any compensation from lenders and strive to provide the most objective and authoritative ranking possible.

Based on our data, the cheapest overall lender in the Muncie, IN area is MutualBank, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.17%. This means that MutualBank provided a -0.17% lower interest rate for its customers than other lenders in Muncie, IN for a similar set of borrowers. MutualBank has a market share of 10.0%. On the other hand, the most popular lender in the market is Ruoff Home Mortgage, with a market share of 19.3%. Ruoff Home Mortgage is an average rate lender in this area, with a “Rate Difference” of -0.05% relative to those of other lenders.

Our detailed rankings of the mortgage lenders for the Muncie, IN area is shown in the table below. In the table, we also give our assessment of whether they are, on average, a cheap/expensive lender through a star rating system. You can choose to tailor our ranking table to a specific mortgage type (Conventional/Jumbo/FHA/VA) and purpose (purchase/refinance) through the drop-down menu. For example, MutualBank is the cheapest mortgage provider for Conventional and Jumbo mortgages in Muncie, IN. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is First Merchants Bank. The cheapest VA mortgage provider is American Mortgage Service Company. Nevertheless, to get the lowest rate for your mortgage, we would suggest shopping and negotiating among several of our top ranked lenders for your desired mortgage type and purpose.

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
MutualBank 1, -0.17% 9.98%
Old National Bank 2, -0.08% 3.67%
STAR Financial Bank 3, -0.05% 3.13%
Ruoff Home Mortgage 4, -0.05% 19.33%
First Merchants Bank 5, -0.00% 9.89%
American Mortgage Service Company 6, 0.00% 6.89%
Caliber Home Loans Inc 7, 0.01% 8.77%
Fairway Independent Mort Corp 8, 0.01% 1.43%
Fifth Third Bank, National Association 9, 0.01% 1.74%
First Farmers Bank & Trust 10, 0.01% 2.15%
First Financial Bank 11, 0.01% 2.42%
JPMorgan Chase Bank 12, 0.03% 3.53%
LoanDepot 13, 0.03% 2.10%
Stearns Lending 14, 0.04% 1.61%
Quicken Loans 15, 0.06% 11.05%
Regions Bank 16, 0.10% 1.61%
Amerifirst Financial Corporation 17, 0.13% 2.24%
GVC Mortgage Inc 18, 0.14% 4.43%
Union Home Mortgage Company 19, 0.22% 4.03%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
MutualBank 1, -0.13% 7.64%
STAR Financial Bank 2, -0.10% 2.31%
First Merchants Bank 3, -0.08% 7.77%
Old National Bank 4, -0.07% 2.57%
Ruoff Home Mortgage 5, -0.06% 25.36%
First Financial Bank 6, -0.00% 1.78%
American Mortgage Service Company 7, 0.00% 8.43%
Fairway Independent Mort Corp 8, 0.01% 1.84%
Caliber Home Loans Inc 9, 0.01% 10.87%
JPMorgan Chase Bank 10, 0.01% 3.36%
First Farmers Bank & Trust 11, 0.02% 1.98%
Fifth Third Bank, National Association 12, 0.04% 1.32%
Stearns Lending 13, 0.05% 1.65%
Quicken Loans 14, 0.05% 6.85%
LoanDepot 15, 0.08% 0.86%
Regions Bank 16, 0.11% 2.17%
GVC Mortgage Inc 17, 0.16% 5.53%
Amerifirst Financial Corporation 18, 0.17% 2.44%
Union Home Mortgage Company 19, 0.25% 5.27%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
MutualBank 1, -0.20% 14.92%
Old National Bank 2, -0.08% 6.00%
Fifth Third Bank, National Association 3, -0.02% 2.65%
American Mortgage Service Company 4, -0.01% 3.63%
STAR Financial Bank 5, 0.00% 4.88%
Amerifirst Financial Corporation 6, 0.00% 1.81%
Caliber Home Loans Inc 7, 0.00% 4.32%
First Farmers Bank & Trust 8, 0.01% 2.51%
Union Home Mortgage Company 9, 0.01% 1.39%
LoanDepot 10, 0.02% 4.74%
Ruoff Home Mortgage 11, 0.02% 6.56%
Fairway Independent Mort Corp 12, 0.02% 0.56%
Regions Bank 13, 0.02% 0.42%
First Financial Bank 14, 0.03% 3.77%
Stearns Lending 15, 0.04% 1.53%
GVC Mortgage Inc 16, 0.05% 2.09%
JPMorgan Chase Bank 17, 0.06% 3.91%
Quicken Loans 18, 0.07% 19.94%
First Merchants Bank 19, 0.09% 14.37%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
MutualBank 1, -0.16% 14.45%
Ruoff Home Mortgage 2, -0.10% 16.68%
Old National Bank 3, -0.07% 5.06%
STAR Financial Bank 4, -0.04% 4.60%
LoanDepot 5, 0.01% 1.38%
Fifth Third Bank, National Association 6, 0.02% 2.30%
First Farmers Bank & Trust 7, 0.02% 3.15%
First Financial Bank 8, 0.02% 3.28%
First Merchants Bank 9, 0.03% 12.74%
JPMorgan Chase Bank 10, 0.04% 5.12%
Stearns Lending 11, 0.05% 1.31%
Fairway Independent Mort Corp 12, 0.05% 0.85%
Amerifirst Financial Corporation 13, 0.07% 1.77%
American Mortgage Service Company 14, 0.08% 5.65%
Caliber Home Loans Inc 15, 0.09% 5.84%
Regions Bank 16, 0.12% 2.10%
Quicken Loans 17, 0.16% 7.22%
GVC Mortgage Inc 18, 0.18% 3.22%
Union Home Mortgage Company 19, 0.19% 3.28%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
MutualBank 1, -0.12% 12.07%
Ruoff Home Mortgage 2, -0.12% 22.98%
STAR Financial Bank 3, -0.09% 3.67%
Old National Bank 4, -0.07% 3.67%
First Merchants Bank 5, -0.05% 9.55%
LoanDepot 6, 0.01% 0.63%
First Financial Bank 7, 0.01% 2.52%
JPMorgan Chase Bank 8, 0.03% 5.25%
First Farmers Bank & Trust 9, 0.03% 3.15%
Stearns Lending 10, 0.04% 1.15%
Fairway Independent Mort Corp 11, 0.06% 1.26%
Fifth Third Bank, National Association 12, 0.06% 1.68%
Caliber Home Loans Inc 13, 0.10% 7.76%
American Mortgage Service Company 14, 0.10% 7.45%
Amerifirst Financial Corporation 15, 0.12% 1.68%
Regions Bank 16, 0.14% 3.04%
Quicken Loans 17, 0.18% 4.30%
GVC Mortgage Inc 18, 0.22% 3.99%
Union Home Mortgage Company 19, 0.24% 4.20%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
MutualBank 1, -0.20% 18.42%
Old National Bank 2, -0.08% 7.37%
American Mortgage Service Company 3, -0.03% 2.63%
Fifth Third Bank, National Association 4, -0.02% 3.33%
Amerifirst Financial Corporation 5, -0.00% 1.93%
STAR Financial Bank 6, 0.00% 6.14%
First Farmers Bank & Trust 7, 0.01% 3.16%
Union Home Mortgage Company 8, 0.01% 1.75%
Ruoff Home Mortgage 9, 0.01% 6.14%
LoanDepot 10, 0.01% 2.63%
Regions Bank 11, 0.02% 0.53%
First Financial Bank 12, 0.03% 4.56%
Fairway Independent Mort Corp 13, 0.04% 0.18%
Stearns Lending 14, 0.05% 1.58%
Caliber Home Loans Inc 15, 0.05% 2.63%
GVC Mortgage Inc 16, 0.06% 1.93%
JPMorgan Chase Bank 17, 0.06% 4.91%
First Merchants Bank 18, 0.10% 18.07%
Quicken Loans 19, 0.15% 12.11%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Merchants Bank 1, -0.18% 4.36%
American Mortgage Service Company 2, -0.11% 7.16%
Caliber Home Loans Inc 3, -0.08% 16.23%
Fairway Independent Mort Corp 4, -0.04% 2.62%
Quicken Loans 5, -0.04% 19.90%
Old National Bank 6, -0.04% 0.70%
Regions Bank 7, -0.03% 0.52%
First Financial Bank 8, -0.03% 0.70%
Fifth Third Bank, National Association 9, -0.02% 0.52%
Ruoff Home Mortgage 10, 0.02% 26.00%
Stearns Lending 11, 0.04% 1.92%
LoanDepot 12, 0.09% 2.27%
GVC Mortgage Inc 13, 0.10% 7.85%
Amerifirst Financial Corporation 14, 0.22% 3.32%
Union Home Mortgage Company 15, 0.27% 5.93%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Merchants Bank 1, -0.19% 5.35%
American Mortgage Service Company 2, -0.12% 7.92%
Caliber Home Loans Inc 3, -0.08% 16.92%
Quicken Loans 4, -0.07% 10.49%
Fairway Independent Mort Corp 5, -0.05% 3.00%
Old National Bank 6, -0.04% 0.86%
First Financial Bank 7, -0.04% 0.64%
Regions Bank 8, -0.03% 0.64%
Fifth Third Bank, National Association 9, -0.03% 0.64%
Ruoff Home Mortgage 10, 0.01% 30.19%
Stearns Lending 11, 0.04% 2.14%
GVC Mortgage Inc 12, 0.11% 8.78%
LoanDepot 13, 0.14% 1.50%
Amerifirst Financial Corporation 14, 0.24% 3.64%
Union Home Mortgage Company 15, 0.26% 7.28%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Caliber Home Loans Inc 1, -0.06% 13.21%
Quicken Loans 2, -0.00% 61.32%
American Mortgage Service Company 3, 0.02% 3.77%
GVC Mortgage Inc 4, 0.02% 3.77%
First Financial Bank 5, 0.03% 0.94%
Fairway Independent Mort Corp 6, 0.03% 0.94%
Amerifirst Financial Corporation 7, 0.03% 1.89%
Stearns Lending 8, 0.04% 0.94%
LoanDepot 9, 0.04% 5.66%
Ruoff Home Mortgage 10, 0.06% 7.55%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
MutualBank 1, -0.00% 60.00%
Old National Bank 2, 0.00% 20.00%
Ruoff Home Mortgage 3, 0.01% 20.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
MutualBank 1, -0.01% 50.00%
Ruoff Home Mortgage 2, 0.01% 50.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Old National Bank 1, 0.00% 33.33%
MutualBank 2, 0.00% 66.67%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
American Mortgage Service Company 1, -0.11% 20.15%
First Merchants Bank 2, -0.05% 1.49%
Regions Bank 3, -0.03% 0.75%
LoanDepot 4, -0.03% 9.70%
Fifth Third Bank, National Association 5, -0.01% 0.75%
Fairway Independent Mort Corp 6, -0.01% 2.99%
Caliber Home Loans Inc 7, -0.00% 10.45%
GVC Mortgage Inc 8, -0.00% 3.73%
JPMorgan Chase Bank 9, 0.01% 0.75%
Stearns Lending 10, 0.02% 3.73%
Amerifirst Financial Corporation 11, 0.02% 2.99%
Quicken Loans 12, 0.04% 17.16%
Ruoff Home Mortgage 13, 0.06% 20.90%
Union Home Mortgage Company 14, 0.12% 4.48%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
American Mortgage Service Company 1, -0.14% 20.83%
First Merchants Bank 2, -0.06% 2.08%
Regions Bank 3, -0.03% 1.04%
Fifth Third Bank, National Association 4, -0.02% 1.04%
Caliber Home Loans Inc 5, -0.01% 12.50%
GVC Mortgage Inc 6, -0.00% 5.21%
JPMorgan Chase Bank 7, 0.00% 1.04%
Fairway Independent Mort Corp 8, 0.01% 2.08%
Amerifirst Financial Corporation 9, 0.02% 4.17%
Stearns Lending 10, 0.02% 4.17%
Quicken Loans 11, 0.03% 14.58%
Ruoff Home Mortgage 12, 0.07% 25.00%
Union Home Mortgage Company 13, 0.11% 6.25%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Ruoff Home Mortgage 1, -0.02% 10.53%
American Mortgage Service Company 2, -0.02% 18.42%
Fairway Independent Mort Corp 3, -0.02% 5.26%
LoanDepot 4, -0.02% 34.21%
Stearns Lending 5, -0.01% 2.63%
Caliber Home Loans Inc 6, 0.01% 5.26%
Quicken Loans 7, 0.05% 23.68%

* Data is compiled for the Muncie, IN commuting zone area, which comprises of counties of Adams County, IN, Blackford County, IN, Delaware County, IN, Grant County, IN, Jay County, IN, and Randolph County, IN. This includes cities/towns/communities of Muncie, IN as well as Decatur, IN, Yorktown, IN, Marion, IN, Gas City, IN, Hartford City, IN, Portland, IN, Mier, IN, Selma, IN, Berne, IN, Swayzee, IN, Winchester, IN, Albany, IN, Daleville, IN, Gaston, IN, Van Buren, IN, Matthews, IN, Jonesboro, IN, Monroe, IN, Parker City, IN, Fairmount, IN, Lynn, IN, Montpelier, IN, Losantville, IN, Union City, IN, Ridgeville, IN, Eaton, IN, Saratoga, IN, Pennville, IN, Bryant, IN, Redkey, IN, and Dunkirk, IN. Lenders must have made at least 30 loans in the area to be included. Source for the data comes from Federal Financial Institutions Examination Council (FFIEC). Rate Difference (the average difference of interest rates relative to those of other lenders) were computed by subtracting the rate at origination from the average predicted rate based on the MSA, borrower LTV, DTI, Loan Amount, Loan Type, and Loan Purpose, and then regularized based on a Bayesian approach to account for smaller sample sizes. Above-average mortgage closing costs were then added to the rate difference at a rate of +0.15/point. Star ratings were determined in intervals of 0.10% in rate difference per half star.

FB Comments