Top Mortgage Lenders in Muncie, IN

Which mortgage lender in the Muncie, IN area typically has the best rates? To help you narrow down where to shop for a mortgage, MortgageWaldo.com provides an objective and data driven ranking of mortgage lenders operating in the Muncie, IN area by interest rate and market share. Unlike our competitors, we maintain independence by not accepting any compensation from the mortgage lenders we rank. We use data on all fixed rate mortgages that were closed in the past year to generate our rankings.

Going by historical data, the best mortgage lender in the Muncie, IN area in terms of interest rate is Old National Bank, with an average “Rate Difference” of -0.10%. This means that, comparing similar borrowers, Old National Bank provided a -0.10% lower interest rate for its customers than other lenders in the area. Old National Bank has a market share of 4.1%. On the other hand, the most popular lender in the Muncie, IN area is Ruoff Mortgage, with a larger market share of 21.4%. Ruoff Mortgage is an average lender in terms of the interest rate it offers, with a “Rate Difference” of -0.07% compared to those of other lenders in this area.

Our detailed ranking of mortgage lenders in 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, the cheapest lender for Conventional mortgages in Muncie, IN is Ruoff Mortgage. If you want to take out a loan that is above conforming limits (for example, above $548,250 in 2021), the cheapest Jumbo mortgage provider is Old National Bank. 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. Note that as a consumer advocate we always recommend shopping among several of our top ranked lenders in order to get the best rates and fees.

Ranking of Mortgage Lenders in Muncie, IN

Mortgage Type:
Purchase/Refinance:
Lender NameRate DifferenceRate RatingMarket Share
Old National Bank-0.10%(4.0)4.08%
STAR Financial Bank-0.07%(4.0)3.48%
Ruoff Mortgage-0.07%(4.0)21.43%
First Merchants Bank-0.02%(3.5)10.99%
American Mortgage Service Company-0.02%(3.5)7.66%
Caliber Home Loans-0.01%(3.5)9.75%
Fairway Independent Mortgage Corporation-0.01%(3.5)1.59%
Fifth Third Bank-0.01%(3.5)1.94%
First Farmers Bank & Trust-0.01%(3.5)2.39%
First Financial Bank-0.00%(3.5)2.69%
JPMorgan Chase Bank0.01%(3.5)3.93%
loanDepot0.01%(3.5)2.34%
Stearns Home Loans0.03%(3.5)1.79%
Quicken Loans0.04%(3.5)12.28%
Regions Bank0.08%(3.0)1.79%
Amerifirst Home Mortgage0.11%(3.0)2.49%
GVC Mortgage0.12%(3.0)4.92%
Union Home Mortgage0.20%(2.5)4.48%
Lender NameRate DifferenceRate RatingMarket Share
STAR Financial Bank-0.11%(4.0)2.50%
First Merchants Bank-0.09%(4.0)8.42%
Old National Bank-0.08%(4.0)2.78%
Ruoff Mortgage-0.07%(4.0)27.41%
First Financial Bank-0.01%(3.5)1.93%
American Mortgage Service Company-0.01%(3.5)9.14%
Fairway Independent Mortgage Corporation-0.01%(3.5)2.00%
Caliber Home Loans-0.00%(3.5)11.78%
JPMorgan Chase Bank0.00%(3.5)3.64%
First Farmers Bank & Trust0.01%(3.5)2.14%
Fifth Third Bank0.03%(3.5)1.43%
Stearns Home Loans0.03%(3.5)1.78%
Quicken Loans0.04%(3.5)7.42%
loanDepot0.07%(3.0)0.93%
Regions Bank0.10%(3.0)2.36%
GVC Mortgage0.15%(3.0)6.00%
Amerifirst Home Mortgage0.16%(2.5)2.64%
Union Home Mortgage0.23%(2.5)5.71%
Lender NameRate DifferenceRate RatingMarket Share
Old National Bank-0.12%(4.0)7.05%
Fifth Third Bank-0.05%(4.0)3.11%
American Mortgage Service Company-0.04%(3.5)4.26%
STAR Financial Bank-0.03%(3.5)5.74%
Amerifirst Home Mortgage-0.03%(3.5)2.13%
Caliber Home Loans-0.03%(3.5)5.08%
First Farmers Bank & Trust-0.03%(3.5)2.95%
Union Home Mortgage-0.03%(3.5)1.64%
loanDepot-0.02%(3.5)5.57%
Ruoff Mortgage-0.02%(3.5)7.70%
Fairway Independent Mortgage Corporation-0.01%(3.5)0.66%
Regions Bank-0.01%(3.5)0.49%
First Financial Bank-0.00%(3.5)4.43%
Stearns Home Loans0.01%(3.5)1.80%
GVC Mortgage0.01%(3.5)2.46%
JPMorgan Chase Bank0.02%(3.5)4.59%
Quicken Loans0.04%(3.5)23.44%
First Merchants Bank0.06%(3.0)16.89%
Lender NameRate DifferenceRate RatingMarket Share
Ruoff Mortgage-0.13%(4.0)19.43%
Old National Bank-0.10%(4.0)5.91%
STAR Financial Bank-0.07%(4.0)5.38%
loanDepot-0.01%(3.5)1.61%
Fifth Third Bank-0.01%(3.5)2.69%
First Farmers Bank & Trust-0.01%(3.5)3.69%
First Financial Bank-0.00%(3.5)3.84%
First Merchants Bank0.00%(3.5)14.90%
JPMorgan Chase Bank0.01%(3.5)5.99%
Stearns Home Loans0.02%(3.5)1.54%
Fairway Independent Mortgage Corporation0.03%(3.5)1.00%
Amerifirst Home Mortgage0.04%(3.5)2.07%
American Mortgage Service Company0.05%(3.0)6.61%
Caliber Home Loans0.06%(3.0)6.84%
Regions Bank0.10%(3.0)2.46%
Quicken Loans0.13%(3.0)8.45%
GVC Mortgage0.15%(2.5)3.76%
Union Home Mortgage0.17%(2.5)3.84%
Lender NameRate DifferenceRate RatingMarket Share
Ruoff Mortgage-0.14%(4.0)26.05%
STAR Financial Bank-0.10%(4.0)4.18%
Old National Bank-0.08%(4.0)4.18%
First Merchants Bank-0.07%(4.0)10.87%
loanDepot-0.01%(3.5)0.72%
First Financial Bank-0.00%(3.5)2.87%
JPMorgan Chase Bank0.01%(3.5)5.97%
First Farmers Bank & Trust0.01%(3.5)3.58%
Stearns Home Loans0.03%(3.5)1.31%
Fairway Independent Mortgage Corporation0.04%(3.5)1.43%
Fifth Third Bank0.04%(3.5)1.91%
Caliber Home Loans0.08%(3.0)8.84%
American Mortgage Service Company0.08%(3.0)8.48%
Amerifirst Home Mortgage0.10%(3.0)1.91%
Regions Bank0.12%(3.0)3.46%
Quicken Loans0.16%(2.5)4.90%
GVC Mortgage0.20%(2.5)4.54%
Union Home Mortgage0.22%(2.5)4.78%
Lender NameRate DifferenceRate RatingMarket Share
Old National Bank-0.13%(4.0)9.03%
American Mortgage Service Company-0.07%(4.0)3.23%
Fifth Third Bank-0.06%(4.0)4.09%
Amerifirst Home Mortgage-0.05%(3.5)2.37%
STAR Financial Bank-0.04%(3.5)7.53%
First Farmers Bank & Trust-0.04%(3.5)3.87%
Ruoff Mortgage-0.04%(3.5)7.53%
Union Home Mortgage-0.04%(3.5)2.15%
loanDepot-0.03%(3.5)3.23%
Regions Bank-0.02%(3.5)0.65%
First Financial Bank-0.01%(3.5)5.59%
Fairway Independent Mortgage Corporation-0.01%(3.5)0.22%
Stearns Home Loans0.00%(3.5)1.94%
Caliber Home Loans0.01%(3.5)3.23%
GVC Mortgage0.01%(3.5)2.37%
JPMorgan Chase Bank0.02%(3.5)6.02%
First Merchants Bank0.05%(3.0)22.15%
Quicken Loans0.10%(3.0)14.84%
Lender NameRate DifferenceRate RatingMarket Share
First Merchants Bank-0.18%(4.5)4.36%
American Mortgage Service Company-0.11%(4.0)7.16%
Caliber Home Loans-0.08%(4.0)16.23%
Fairway Independent Mortgage Corporation-0.04%(3.5)2.62%
Quicken Loans-0.04%(3.5)19.90%
Old National Bank-0.04%(3.5)0.70%
Regions Bank-0.03%(3.5)0.52%
First Financial Bank-0.03%(3.5)0.70%
Fifth Third Bank-0.02%(3.5)0.52%
Ruoff Mortgage0.02%(3.5)26.00%
Stearns Home Loans0.04%(3.5)1.92%
loanDepot0.09%(3.0)2.27%
GVC Mortgage0.10%(3.0)7.85%
Amerifirst Home Mortgage0.22%(2.5)3.32%
Union Home Mortgage0.27%(2.0)5.93%
Lender NameRate DifferenceRate RatingMarket Share
First Merchants Bank-0.19%(4.5)5.35%
American Mortgage Service Company-0.12%(4.0)7.92%
Caliber Home Loans-0.08%(4.0)16.92%
Quicken Loans-0.07%(4.0)10.49%
Fairway Independent Mortgage Corporation-0.05%(4.0)3.00%
Old National Bank-0.04%(3.5)0.86%
First Financial Bank-0.04%(3.5)0.64%
Regions Bank-0.03%(3.5)0.64%
Fifth Third Bank-0.03%(3.5)0.64%
Ruoff Mortgage0.01%(3.5)30.19%
Stearns Home Loans0.04%(3.5)2.14%
GVC Mortgage0.11%(3.0)8.78%
loanDepot0.14%(3.0)1.50%
Amerifirst Home Mortgage0.24%(2.5)3.64%
Union Home Mortgage0.26%(2.0)7.28%
Lender NameRate DifferenceRate RatingMarket Share
Caliber Home Loans-0.06%(4.0)13.21%
Quicken Loans-0.00%(3.5)61.32%
American Mortgage Service Company0.02%(3.5)3.77%
GVC Mortgage0.02%(3.5)3.77%
First Financial Bank0.03%(3.5)0.94%
Fairway Independent Mortgage Corporation0.03%(3.5)0.94%
Amerifirst Home Mortgage0.03%(3.5)1.89%
Stearns Home Loans0.04%(3.5)0.94%
loanDepot0.04%(3.5)5.66%
Ruoff Mortgage0.06%(3.0)7.55%
Lender NameRate DifferenceRate RatingMarket Share
Old National Bank-0.00%(3.5)50.00%
Ruoff Mortgage0.00%(3.5)50.00%
Lender NameRate DifferenceRate RatingMarket Share
Ruoff Mortgage0.00%(3.5)100.00%
Lender NameRate DifferenceRate RatingMarket Share
Old National Bank0.00%(3.5)100.00%
Lender NameRate DifferenceRate RatingMarket Share
American Mortgage Service Company-0.11%(4.0)20.15%
First Merchants Bank-0.05%(4.0)1.49%
Regions Bank-0.03%(3.5)0.75%
loanDepot-0.03%(3.5)9.70%
Fifth Third Bank-0.01%(3.5)0.75%
Fairway Independent Mortgage Corporation-0.01%(3.5)2.99%
Caliber Home Loans-0.00%(3.5)10.45%
GVC Mortgage-0.00%(3.5)3.73%
JPMorgan Chase Bank0.01%(3.5)0.75%
Stearns Home Loans0.02%(3.5)3.73%
Amerifirst Home Mortgage0.02%(3.5)2.99%
Quicken Loans0.04%(3.5)17.16%
Ruoff Mortgage0.06%(3.0)20.90%
Union Home Mortgage0.12%(3.0)4.48%
Lender NameRate DifferenceRate RatingMarket Share
American Mortgage Service Company-0.14%(4.0)20.83%
First Merchants Bank-0.06%(4.0)2.08%
Regions Bank-0.03%(3.5)1.04%
Fifth Third Bank-0.02%(3.5)1.04%
Caliber Home Loans-0.01%(3.5)12.50%
GVC Mortgage-0.00%(3.5)5.21%
JPMorgan Chase Bank0.00%(3.5)1.04%
Fairway Independent Mortgage Corporation0.01%(3.5)2.08%
Amerifirst Home Mortgage0.02%(3.5)4.17%
Stearns Home Loans0.02%(3.5)4.17%
Quicken Loans0.03%(3.5)14.58%
Ruoff Mortgage0.07%(3.0)25.00%
Union Home Mortgage0.11%(3.0)6.25%
Lender NameRate DifferenceRate RatingMarket Share
Ruoff Mortgage-0.02%(3.5)10.53%
American Mortgage Service Company-0.02%(3.5)18.42%
Fairway Independent Mortgage Corporation-0.02%(3.5)5.26%
loanDepot-0.02%(3.5)34.21%
Stearns Home Loans-0.01%(3.5)2.63%
Caliber Home Loans0.01%(3.5)5.26%
Quicken Loans0.05%(3.5)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 of the data is 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 conditional on the commuting zone, 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.

Mortgage Lender Rankings in Other Cities

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