Compare Mortgage Lenders
Select two lenders to compare side by side using 2023 HMDA federal data: approval rates, denial rates, loan sizes, loan types, and geographic reach.
Key Metrics
| Metric | First Financial Bank | FIRST MERCHANTS BANK |
|---|---|---|
| Total Applications | 10,033 ▲ | 8,454 |
| Loans Originated | 6,448 | 5,503 |
| Approval Rate (higher is better) | 64.3% | 65.1% ✓ |
| Denial Rate (lower is better) | 27.7% | 16.4% ✓ |
| Avg Loan Amount | $189,978 | $248,384 |
| Avg Interest Rate (lower is better) | 6.324% ✓ | 6.880% |
| Avg Applicant Income | $36,000 | $34,000 |
| Applications Denied | 2,779 | 1,382 |
| Applications Withdrawn | 688 | 1,027 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | First Financial Bank | FIRST MERCHANTS BANK |
|---|---|---|
| Conventional | 9,763 (97.3%) | 8,165 (96.6%) |
| FHA | 210 (2.1%) | 247 (2.9%) |
| VA | 40 (0.4%) | 30 (0.4%) |
| USDA | 20 (0.2%) | 12 (0.1%) |
Loan Purpose Breakdown
| Purpose | First Financial Bank | FIRST MERCHANTS BANK |
|---|---|---|
| Home Purchase | 3,785 | 3,154 |
| Other | 2,409 | 2,091 |
| Cash-out Refinancing | 1,917 | 336 |
| Home Improvement | 1,659 | 876 |
| Refinancing | 263 | 1,997 |
Top States by Loan Volume
Summary
- 10,033 total applications · 6,448 originated
- Approval rate: 64.3%
- Denial rate: 27.7%
- Avg loan: $189,978
- Avg rate: 6.324%
- HQ: Cincinnati, OH
- 8,454 total applications · 5,503 originated
- Approval rate: 65.1%
- Denial rate: 16.4%
- Avg loan: $248,384
- Avg rate: 6.880%
- HQ: MUNCIE, IN
Methodology
Comparisons are drawn from the CFPB 2024 HMDA Snapshot National Loan-Level Dataset, published by the Consumer Financial Protection Bureau and distributed via the FFIEC. Every figure on this page comes from lenders' mandatory HMDA filings — not voluntary marketing claims.
Approval (origination) rate = originated ÷ total applications. Denial rate = denied ÷ total applications. Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes. Denial rates reflect a lender's applicant mix as much as its underwriting stance; compare alongside loan-type mix and geography before drawing conclusions.
Side-by-side comparisons are informational only and do not constitute financial, legal, or mortgage advice. Always obtain and compare written Loan Estimates before applying.