Market insights
What the data says about manufactured home communities, lending and ownership.
Lenders › FIRST MERCHANTS BANK
FIRST MERCHANTS BANK
2025 manufactured home lending from public HMDA data. Provider profile
Loans originated (2025)
111
+26.1% vs 2024Originations
$24.5M
Loans x average loanAverage loan
$220,315
Average interest rate
7.29%
Denial rate
12%
Home only share
0%
Year over year
| Year | Applications | Loans | Originations | Avg loan | Avg rate | Denial rate | Home only |
|---|---|---|---|---|---|---|---|
| 2025 | 154 | 111 | $24.5M | $220,315 | 7.29% | 12% | 0% |
| 2024 | 126 | 88 | $17.1M | $194,205 | 8.19% | 17% | 0% |
Lending by state (2025)
| State | Loans | Originations | Avg loan | Avg rate | Denial rate | Home only |
|---|---|---|---|---|---|---|
| IN | 83 | $8.6M | $103,434 | 7.39% | 12% | 0% |
| MI | 26 | $15.4M | $594,231 | 6.94% | 13% | 0% |
| FL | 1 | $115,000 | $115,000 | 7.63% | 0% | 0% |
| IA | 1 | $305,000 | $305,000 | 7.25% | 0% | 0% |
Data source: Home Mortgage Disclosure Act (HMDA). Public annual data from the FFIEC and CFPB, loans reported with a manufactured home construction method. Informational only, not a recommendation of any lender.