Best Mortgage Lenders in Indiana—Backed by Data

TrueRate Analyst

By:

TrueRate Analyst

Best Mortgage Lenders in Indiana

Data-backed picks using 2024 closed-loan pricing (30-year fixed, conventional, primary residence).

Buying a home in Indiana? Whether you’re searching for a historic bungalow in Indianapolis, a family-friendly starter home in Carmel, or acreage in rural communities, the market varies widely—and pricing can change fast.

To help buyers make smarter choices, we analyzed closed-loan data from hundreds of thousands of loans across 103 different lenders operating in Indiana. Our sample included 30-year fixed, conventional primary home purchase loans. You can see the full TrueRate analysis. These aren’t teaser quotes or advertised rates—this data reflects the real rates and fees buyers locked in.

Each lender listed below consistently outperformed the state median on pricing, while also offering competitive products and solid borrower support. We also categorized lenders to help you find the right fit—whether you’re a first-time buyer, looking for a digital-first experience, or need something more specialized.

Why it stands out

Ok, we’re a little biased, but the numbers speak for themselves—low rates, no lender fees, better reviews. Tomo Mortgage was founded in 2025 by former Zillow execs who saw what was broken in the mortgage industry (think bait-and-switch, inflated rates, a black box of confusing fees) and set out to fix it. It was ranked Best Online Lender 2025 by Bankrate, earning strong customer reviews, and is backed by major financial services companies.

Lower prices enable more transparency: you can get personalized rates online without applying or talking to sales. The rate tool includes a slider that shows how your monthly payment changes with and without points—clarity most lenders don’t offer until deep into the process.

Heads-up on refinancing: Tomo Mortgage doesn’t offer refinancing at this time.
See today’s rates

Read full review: Tomo Mortgage

What borrowers say

“I almost went with a different lender at first but ended up going to tomo and I’m glad I did… 10/10”
— Melina B., Virginia (via Google)
“Loan advisory team was remarkably responsive… stayed engaged until the very end.”
— Selva D., New Jersey (via Google)
“Because of Tomo’s low APRs… it gets a perfect 5 out of 5 stars for affordability.”

Why it stands out

Founded in 1956 and now the largest credit union in Central Indiana, IMCU brings unmatched local knowledge to its mortgage lending. With no maximum purchase price limit on certain loans, flexible credit guidelines, and all underwriting handled locally, IMCU can move faster and tailor approvals to Indiana buyers. Its 31-branch footprint—including a location on the IU Indianapolis campus—means in-person help alongside competitive rates.

See rate ranges

Read full review: Indiana Members Credit Union

What customers say

Mixed sentiment across third-party platforms: some borrowers cite communication gaps and documentation issues, while others highlight smooth experiences and helpful staff.

Why it stands out

Credit Union 1 is a member-owned, not-for-profit cooperative and direct mortgage lender headquartered in Lombard, IL. Serving ~89,000 members, its service area covers Chicagoland, northern/central IL, northwest IN, GA, and Las Vegas. Historically aggressive on rate (with somewhat higher fees).

See rate ranges

Read full review: Credit Union 1

What customers say

Reviews are mixed: some report slow underwriting and communication gaps; others like transparent costs and hands-on in-branch help. A niche perk mentioned online is a paid “rate modification” (not a full refi).

Why it stands out

Heartland Credit Union’s “Heartland 100” offers $0 down and 100% financing—without PMI—on 15-, 20-, and 30-year fixed terms. Minimum 660 FICO and ≤45% DTI. Local decisioning and competitive pricing support access to homeownership for cash-conscious buyers.

See rate ranges

Read full review: Heartland Credit Union

What customers say

Limited third-party mortgage-specific reviews on major platforms; most public commentary focuses on general banking/member service.

Some of the largest lenders didn’t make this list—but still wondering how they stack up? Fairway Independent and Rocket Mortgage originated billions in Indiana home loans last year, but only Fairway appears in our closed-loan dataset used for ranking. We reviewed HMDA volume and spot-checked public rate sources for context. These aren’t directly comparable to our ranked lenders, but they’re useful reference points when shopping broadly.

Fairway Independent

Originated nearly $772M in Indiana home loans in 2024 across 3,000+ loans (avg. ~$261k). Mix: ~93% purchase, ~7% refi.

Per our TrueRate model, Fairway’s pricing trends about 0.02% higher than the state median—roughly a modest extra cost versus a median-priced lender. Against Tomo Mortgage, a typical borrower would pay an estimated $2,271 more after one year and $11,462 more over 10 years.

Rocket Mortgage

Originated almost $1.5B across more than 7,000 Indiana loans in 2024 (avg. ~$204k). Mix: ~49% purchase, ~51% refi—active across both sides of the market.

Lender Pick HQ Interest Rates (historical) Lender Fees Notable Programs / Notes Website Full Review
Tomo Mortgage Best overall value & experience New York, NY ~0.30% below median $0 Bankrate “Best Online Lender 2025”; transparent online quotes; no refi currently tomo.com Read full review
Indiana Members Credit Union Best Local Credit Union Indianapolis, IN ~0.31% below median ~$995 Local underwriting; large branch footprint; flexible guidelines imcu.com Read full review
Credit Union 1 Best for Super Savvy Homebuyers Lombard, IL ~0.54% below median ~$1,599 Aggressive pricing; some reports of slower processing creditunion1.org Read full review
Heartland Credit Union Best for Down Payment Assistance Springfield, IL ~0.34% below median ~$585 “Heartland 100”: $0 down, 100% financing, no PMI; fixed terms hcu.org Read full review

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Tomo Mortgage
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