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Old National Bank Mortgage Review 2025

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At a glance

Old National Bank
NMLS: 459308
Editor's take

Old National Bank might suit borrowers in the states in which it maintains branch locations (in the Midwest), although the bank offers mortgages to qualified applicants across the country. It could be an especially good fit if you’re looking for down payment or closing cost assistance, or a professional loan up to $2 million.

Bankrate Score
4.5
Rating: 4.5 stars out of 5
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Bankrate Score

Customer Rating
4.9
Rating: 4.85 stars out of 5

144 ratings

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Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

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Min. credit score required

620 for conventional loans

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Nationwide availability

All U.S. states

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Min. down payment

Undisclosed

Old National Bank overview

Established in 1834, Old National Bank is one of the biggest in the Midwest, with more than 280 banking centers in eight states. In addition to banking and financial management services, the bank assists borrowers with mortgages, including construction, and land and lot loans. It was among the nation’s 100 largest lenders in 2023, according to federal data.

Pros and cons of Old National Bank

Pros

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    Branches plus online banking

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    First-time homebuyer and down payment/closing cost assistance programs in some states

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    Special loan programs for first respondents, professors and physicians

Cons

  • Branch locations limited to eight states

How Bankrate scored Old National Bank

Affordability: 5/5

Because of Old National’s generally competitive rates, transparent fees and participation in down payment assistance programs, it scored 5 out of 5 stars for affordability.

  • Interest rates: Old National Bank displays its latest mortgage rates on its website. Generally, its rates are competitive with Bankrate’s national averages.
  • Down payment: Old National offers conventional loans for as low as 3 percent down and VA and USDA loans for no money down. You can also get an FHA loan for just 3.5 percent down. The lender participates in down payment assistance programs in certain states, as well.
  • Fees: The bank’s mortgage fees include a $900 origination fee ($1,100 for construction loans, $750 for VA loans), a $72 tax service fee and a $6.70 flood certification fee.
  • Closing costs: You can contact a loan officer to learn about your closing costs. While they vary by many factors, you can generally expect to spend between 2 and 5 percent of the loan amount on these costs.

Availability: 5/5

Because of Old National’s robust product offering and nationwide availability, it scored 5 out of 5 stars for this metric.

  • Home loans offered: Old National Bank originates conventional and government-backed loans (FHA, VA and USDA). It also works with investors.
  • Footprint: While the bank provides many mortgage options, it has branches in just eight states. However, the bank funds loans in all 50 states.
  • Where to find: If you'd like to apply in person, this lender has more than 280 banking centers in Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Tennessee and Wisconsin. You can also apply directly online or call to speak with a loan officer.

To help you better understand what types of borrowers are interested in this lender, here’s more information about Bankrate users who submitted a form to this lender through our site:

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Bankrate consumer statistics

How do we get this data?
First time homebuyer:
51% were first time homebuyers
Credit score:
88% reported having a credit score of 700 or higher
Down payment:
46% planned to put down less than 20%
Last updated January 30, 2025

Borrower experience: 3.6/5

Old National Bank displays rates on its website, but to get a personalized rate quote you'll need to contact the lender. It also has fewer contact methods than other lenders, resulting in a score of 3.6 out of 5 for borrower experience.

  • Application and preapproval process: You can apply for a prequalification online and receive an answer within minutes. Applying for a mortgage online requires you to create an account with the bank. You can also connect with a mortgage loan expert who will walk you through the process and help you decide which loan option might best suit your needs. 
  • Transparency: Old National displays rates on its website, however, to get a customized quote you'll need to reach out to the lender.
  • Customer service: To contact the lender for assistance, you can call, email or visit a branch location.

Old National Bank reputation

Old National Bank acquired First Midwest Bank in 2022. The combination of the two institutions didn’t go smoothly, according to media reports quoting irritated customers. The bank is accredited by the Better Business Bureau, however, and has an A+ rating from the organization.

Lender compare

Compare Old National Bank to other lenders

Mortgage rates and fees can vary widely across lenders. You can use the drop downs to explore beyond these lenders and find the best option for you.

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Old National Bank

NMLS: 459308 

4.5

Rating: 4.5 stars out of 5
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Bankrate Score

Recent Customer Reviews

Rating: 4.85 stars out of 5

4.8

144 reviews

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FourLeaf Federal Credit Union

NMLS: 449104 

4.9

Rating: 4.9 stars out of 5
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Bankrate Score

Recent Customer Reviews

Rating: 1 stars out of 5

1.0

3 reviews

Old National special mortgage offerings

Mortgages for professionals 

Old National Bank caters to doctors, dentists and professors with loans that don't require a down payment or private mortgage insurance. The bank will fund up to $2 million with these loans, and they come with fixed- or adjustable-rate options. 

Lot or land loans 

The bank lets borrowers finance vacant lots of up to five acres with 15-year fixed-rate loans or 5/6 adjustable-rate mortgages. These loans come with a 20 percent down payment requirement. Old National Bank also offers construction loans for when borrowers are ready to build a home.

Refinancing with Old National 

Old National Bank offers rate-and-term and cash-out refinancing options. Notably, the bank’s “Quick Home Refi” program only runs $299 in closing costs. You can view refinance rates on the bank's website, but keep in mind they assume a 700 credit score, among other factors.

How to apply for a mortgage with Old National Bank

You can apply for a mortgage with Old National Bank in person at a branch location, online or by phone at 800-731-2265. Its customer service hours are Monday through Friday from 7 a.m. to 6 p.m. PT and Saturday from 7 a.m. to 12 p.m. Here are some tips to prepare for the process:

  1. Check your credit report: It’s important check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.

  2. Gather documentation: With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.

  3. Submit your application: You’ll need to provide the address of the home and submit to a home appraisal. (If you’re refinancing, you might or might not need an appraisal.)

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Bankrate insight

Need help choosing the right mortgage lender for your situation? Check out these six tips to guide your decision.

Old National Bank customer ratings and reviews

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NMLS: 459308

4.9

Rating: 4.85 stars out of 5

144 ratings

This lender has 13 recent reviews.

Knowledge
Rating: 4.9 stars out of 5
Level of service
Rating: 4.9 stars out of 5
Professionalism
Rating: 4.9 stars out of 5
Responsiveness
Rating: 4.8 stars out of 5
5 stars
4 stars
3 stars
2 stars
1 star
96%
0%
1%
1%
3%

96% of customers would recommend this lender.

10 of 13 reviews

The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.

In addition to collecting reviews on-site, Bankrate collaborated with third-party Slice MR to survey 750 homeowners nationwide in July 2024. Bankrate and Slice MR collected, averaged and presented responses to nine questions. Users received an incentive for their feedback. Responses are based on individual experiences, and therefore cannot be verified for accuracy. Submissions with user ratings that are materially inconsistent with written sentiment have been removed. User ratings are unedited and have not been reviewed or approved by lenders, nor do these ratings reflect Bankrate’s own reviews of these lenders.

To help serve you with relevant information, the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.

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Rating: 5 stars out of 5

Amazing Experience

Anthony at Old National Bank was an exceptional lender who made the entire home buying process smooth and stress-free. As a first-time buyer, I greatly appreciated his clear explanations, patience in answering my numerous questions, and proactive communication throughout the loan application. He was always readily available, kept me consistently updated, and presented various options tailored to my needs. Beyond his professionalism and expertise, Anthony's personable and friendly demeanor made me feel comfortable and confident. I highly recommend Anthony to anyone seeking a knowledgeable, reliable, and caring lender for their mortgage needs. Kari at Old National Bank provided efficient mortgage processing services. She kept me well-informed and was very helpful with my many questions. I greatly appreciated her professionalism and would confidently recommend Kari to anyone seeking a mortgage.

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Rates and terms of loan honored?

Yes

Closed mortgage with this lender?

Yes

Closed on time?

Yes

Would you recommend this lender?

Yes

Lily R.
Virginia (April 10, 2025)

Rating: 5 stars out of 5

Smooth and Professional Process

I recently worked with John (loan originator) and Kari (processor) at Old National Bank, and I couldn't be happier with my experience. They made the entire loan process incredibly smooth and stress-free. John's expertise and clear communication were invaluable, while Kari's efficiency kept everything moving along perfectly. They were always responsive, professional, and went the extra mile to ensure I got the best deal possible. The level of customer service I received was truly exceptional. If you're looking for a reliable and competent team for your mortgage needs, I highly recommend John, Kari, and Old National Bank. They exceeded my expectations in every way!

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Rates and terms of loan honored?

Yes

Closed mortgage with this lender?

Yes

Closed on time?

Yes

Would you recommend this lender?

Yes

Juan
Bentonville, AR (March 19, 2025)

Rating: 5 stars out of 5

The service and attention to detail was top notch, any question I had during the process was answered fully and promptly. I could not have been happier with my home buying experience with Shawn and the Old National Bank.

As a first time home buyer I was a little intimated and unsure of what to expect. From the very start Shawn was more than helpful and knowledgeable on what I need to expect and what I need to do. I could not be happier with my decision to use Old National Bank!

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Rates and terms of loan honored?

Yes

Closed mortgage with this lender?

Yes

Closed on time?

Yes

Would you recommend this lender?

Yes

Nathan
NEB (March 5, 2025)

Rating: 5 stars out of 5

Great rates with a great team

We looked at 7 separate lenders. Old National provided the best rates along with the best origination fees. Only 1 other lender was even close (Mutual of Omaha) to matching what Old National was able to provide. Along with the best terms, we were given an amazing team to help our process. My loan officer, Anthony along with Kari, worked hard to ensure all the terms of the mortgage were understood and there were no surprises on closing day. Mortgage rates dropped by 0.25% a few days after we locked our rate. We wanted to take a risk by lifting the lock. Anthony clearly communicated the risks and potential issues that we are exposing ourselves too, but he was able to work it out. In the end, our risk paid off and we were able to lower our rate by 0.25% AND an increase in discount point credit. Also, there were a few occasions where I reached out with difficult questions and was given a response 20 minutes later at 8PM. That is above and beyond expectations. You don't even get this level of service from a mortgage broker who charge much more for their services. I highly recommend Anthony and Kari with Old National. If I ever need another loan, they will be first stop.

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Rates and terms of loan honored?

Yes

Closed mortgage with this lender?

Yes

Closed on time?

Yes

Would you recommend this lender?

Yes

Austin
South Carolina (Feb. 11, 2025)

Rating: 5 stars out of 5

Home loan

Shawn really helped us get the ball rolling on my husband and I being first time home buyers. He answered all of our questions and responded even on weekends

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Rates and terms of loan honored?

Yes

Closed mortgage with this lender?

Yes

Closed on time?

Yes

Would you recommend this lender?

Yes

Chloe R.
Florida (Dec. 5, 2024)

Rating: 5 stars out of 5

Closed ahead of contract date and rate was less than expected

I had a positive experience working with Old National Bank after going to Bankrate to research rates. After going to this website, the phone rang immediately and Tyler with Old National was attentive to helping with my transaction even though it was a weekend. His processor, Sonia kept after my loan until it closed ahead of the closing date. The best part of the process was the loan officer did not require me to LOCK, and he watched the rates lower and offered the right time for me to LOCK. Thank you for making a difficult journey problem free.

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Rates and terms of loan honored?

Yes

Closed mortgage with this lender?

Yes

Closed on time?

Yes

Would you recommend this lender?

Yes

Lauren
Missouri (Nov. 4, 2024)

Rating: 5 stars out of 5

Incredibly responsive, trustworthy, and wonderful!

John at Old National Bank and Kari assisted us with the purchase of our first home this summer. The ONB team was always quick to reply to my messages and helped me get a rate on my mortgage that I am more than satisfied with! John and his team were patient with me during my home search process and provided the best guidance for a major investment for our family. John was literally available day or night for any questions I had for several months as we searched for a property. I selected ONB due to their excellent rates and wonderful reviews, which were spot-on! This is an incredible team and I am very happy and grateful for their help.

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Rates and terms of loan honored?

Yes

Closed mortgage with this lender?

Yes

Closed on time?

Yes

Would you recommend this lender?

Yes

Audra W.
GA (Oct. 27, 2024)

Rating: 3 stars out of 5

Less than excellent

At first, our lender was very responsive as he was trying to win our business. Once he was our loan officer, we noticed a delay in responses to our realtor and the title company, making me have to be involved every step of the way so that we could close on time. The evening before closing we received our final estimate and it was not accurate. I emailed them, but it was after hours. It caused us to have to sit at the closing table for over an hour while they revised documents so that we could sign them.

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 3 stars out of 5
Professionalism
Rating: 3 stars out of 5
Responsiveness
Rating: 1 stars out of 5

Rates and terms of loan honored?

Yes

Closed mortgage with this lender?

Yes

Closed on time?

Yes

Would you recommend this lender?

No

V
Texas (Oct. 8, 2024)

Rating: 5 stars out of 5

Smooth and Transparent

John was incredible through the whole process, super responsive and always had the answers when it came to our loan. Would recommmend!

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Rates and terms of loan honored?

Yes

Closed mortgage with this lender?

Yes

Closed on time?

Yes

Would you recommend this lender?

Yes

Clay
Spokane, Washington (Sept. 17, 2024)

Rating: 5 stars out of 5

Great experience with John B at Old National Bank

Our experience with John as first time home buyers was an amazing experience. John’s transparency, knowledgable advice, and professionalism made us solidify our choice to work with him. As first time home buyers, we were not familiar with the entire process but John thoroughly explained everything and answered our questions. We were working on a very tight closing timeline but he was very responsive with all of our questions, even outside of normal work hours, and when we had to make our decisions, he was very patient and did not rush us. John, Kari and his team were a pleasure to work with and we would highly recommend him to anyone who is looking to purchase a house.

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Rates and terms of loan honored?

Yes

Closed mortgage with this lender?

Yes

Closed on time?

Yes

Would you recommend this lender?

Yes

Myung K.
Maryland (June 27, 2024)