Purchase Originations
113
Median Total Costs
$3,494
−47.7% vs national ($6,680)
↑ $676 vs prior year
Median Rate
7.000%
+7.9% vs national (6.490%)
↓ 0.250% vs prior year
Median Origination
$1,095
Median Lender Credits
$115
Denial Rate
7.0%
vs national avg (9.0%)
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 113 | 7.000% | $3,494 | $1,095 |
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $2,946 | 6.562% | — | 2 | −$548 | |
| 2 | $3,196 | 6.250% | — | 4 | −$298 | |
| 3 | $3,309 | 7.120% | — | 4 | −$185 | |
| 4 | $3,323 | 6.500% | — | 1 | −$171 | |
| 5 | $3,332 | 7.000% | — | 30 | −$162 | |
| 6 | $3,342 | 6.000% | — | 1 | −$152 | |
| 7 | $3,344 | 6.750% | — | 8 | −$150 | |
| 8 | $3,370 | 6.562% | — | 6 | −$124 | |
| 9 | $3,408 | 6.933% | — | 6 | −$86 | |
| 10 | $3,456 | 7.500% | — | 11 | −$38 | |
| 11 | $3,507 | 7.000% | — | 1 | +$13 | |
| 12 | $3,562 | 7.500% | — | 15 | +$68 | |
| 13 | $3,585 | 6.375% | — | 1 | +$91 | |
| 14 | $3,649 | 7.000% | — | 3 | +$155 | |
| 15 | $3,777 | 5.625% | — | 2 | +$283 | |
| 16 | $4,003 | 6.500% | — | 1 | +$509 | |
| 17 | $4,055 | 6.000% | — | 1 | +$561 | |
| 18 | $4,126 | 6.500% | — | 1 | +$632 | |
| 19 | $4,812 | 6.995% | — | 10 | +$1,318 | |
| 20 | $5,101 | 7.125% | — | 3 | +$1,607 |
Includes lenders with 1+ purchase originations in top counties. Source: HMDA 2025. Sorted by median total loan costs.
Peer set: the 50 highest-volume U.S. mortgage lenders in 2025 (min. 8,254 purchase originations).
| Metric | The Merchants National Bank | Top-50 peer median | Difference |
|---|---|---|---|
| Median loan amount | $235,000 | $335,000 | −$100,000 (−29.9%) |
| Median total closing costs | $3,494 | $7,127 | −$3,633 (−51.0%) |
Other high-volume lenders side-by-side.
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Data source: HMDA Modified Loan Application Register 2025, published by the Consumer Financial Protection Bureau (CFPB).
Statistics reflect originated first-lien purchase mortgages on owner-occupied principal residences. Medians exclude loans with exempt or unreported fee disclosures. Learn more at ffiec.cfpb.gov.