Old National Bank Mortgage Rates 2026: 6.50-7.10% (Regional Bank)

📊 Old National Bank Mortgage Rates (July 2026)

Loan Type	Standard Rate	With Discount (0.25%)	National Average	Requirements
30-Year Fixed	6.75-7.10%	6.50-6.85%	6.65%	740+ credit, 20% down
15-Year Fixed	6.10-6.35%	5.85-6.10%	5.90%	740+ credit, 20% down
FHA Loan	6.45-6.70%	6.20-6.45%	6.30%	580+ credit, 3.5% down
VA Loan	6.55-6.80%	6.30-6.55%	6.40%	0% down, VA eligible
Jumbo ($766K+)	7.25-7.75%	7.00-7.50%	6.90%	740+ credit, 20% down
Better.com (comparison)	6.40-6.90%		6.65%	$0 fees, 21-day close

💡 Key Insight: Relationship Discount is Good, But Not Enough

ONB's 0.25% relationship discount brings rate from 6.75% to 6.50%, saving $60/month on $400K loan. HOWEVER, Better.com standard rate is 6.40-6.50% with $0 fees (no checking account required). You save MORE with Better.com even WITHOUT discount: lower rate + $5,000 fee savings. Compare rates →

✅ Old National Bank PROS

1. Relationship Discounts (0.125-0.25% Off)

Get 0.125-0.25% rate discount if you have ONB Premier checking ($25K+ balance), ONB savings, or investment accounts ($100K+). Example: 6.75% becomes 6.50% with 0.25% discount.

💰 Discount Requirements:

• ONB Premier checking: 0.25% off ($25K+ balance)
• ONB savings + checking: 0.125% off ($10K+ combined)
• ONB investment accounts: 0.125% off ($100K+)
• Auto-pay from ONB checking: 0.125% off

2. Local Branches + In-Person Service (150+ Locations)

150+ branches in IN/KY/WI/MI/MN. Meet loan officer in person, review documents face-to-face, ask questions during business hours. Good for buyers who prefer relationship banking vs digital-only lenders.

3. Bundled Banking Benefits

Bundle mortgage with checking, savings, auto loan, credit card. Benefits: waived ATM fees, free checks, priority customer service, consolidated statements. Good for buyers who want all accounts in one place.

4. Strong in Indiana/Kentucky Markets

ONB loan officers understand local markets (Indianapolis, Louisville, Evansville). Can navigate Indiana/Kentucky property quirks, HOA rules, local regulations better than national lenders.

❌ Old National Bank CONS

1. Rates 0.10-0.45% HIGHER Than Online Lenders

ONB rate: 6.75% (6.50% with discount). Better.com: 6.40%. Rocket: 6.55%. You pay $40-140/month MORE with ONB even WITH discount. Over 30 years, that's $14,400-50,400 extra interest.

💸 Cost Comparison ($400K Loan, 30 Years):

ONB with discount (6.50%): $2,528/month = $909,920 total

Better.com (6.40%): $2,503/month = $901,080 total

Savings with Better.com: $8,840 ✅

2. Slower Close Time (40-50 Days vs 21-30 Average)

ONB takes 40-50 days to close (purchase) vs 21-30 days for online lenders. Traditional underwriting, paper-heavy process, manual reviews. Risk: delayed closings, lost properties in competitive markets.

3. Limited Availability (5 Midwest States Only)

Only available in: IN, KY, WI, MI, MN. NOT available in OH, IL, MO, or 45 other states. If you move out of these states, you can't use ONB for refinance or new purchases.

4. Limited Digital Tools (Basic Online Portal)

Basic online banking, NO advanced mortgage app. Can't upload docs via mobile, track progress 24/7, or e-sign from phone. If you want modern digital experience, use Rocket (excellent app) or Better.com (fully digital).

⚠️

Should You Use Old National Bank?

USE Old National Bank if: You're an existing ONB Premier customer ($25K+ checking), value in-person service, buying in IN/KY/WI, want bundled banking, not time-sensitive (40-50 day close OK).

AVOID Old National Bank if: You want lowest rates (save $40-140/month), fast close (21-30 days), modern digital tools, nationwide availability, buying outside IN/KY/WI.

💡 Better Alternatives:

• Better.com: 6.40% rate, $0 fees, 21-day close (save $8,840 + fees)

• Rocket Mortgage: 6.55% rate, 25-day close, 4.8/5 BBB, excellent app

• Guild Mortgage: Local branches nationwide, 6.60% rate, personal service

Compare all lenders in 60 seconds →

🗺️ Old National Bank Service Area

✅ AVAILABLE (5 States):

• Indiana (headquarters, best coverage)
• Kentucky (Louisville, Lexington)
• Wisconsin (Milwaukee, Madison)
• Michigan (Detroit area)
• Minnesota (Minneapolis)

150+ branches total

❌ NOT AVAILABLE (45 States):

Including nearby states:

• Ohio (use Huntington, Chase)
• Illinois (use Chase, Guild)
• Missouri (use Guild, Rocket)
• + 42 other states

Find lenders in your state →

💵 Old National Bank vs Competitors: Full Comparison

Lender	30-Year Rate	Fees	Close Time	States	Best For
Better.com	6.40-6.90%	$0 ($400K+)	21 days	50	Lowest rates/fees
Rocket Mortgage	6.55-7.05%	$3,200-4,500	25 days	50	Best service (4.8/5)
Old National Bank	6.50-7.10%	$3,800-5,200	40-50 days	5 (Midwest)	ONB customers, IN/KY
Guild Mortgage	6.60-7.10%	$3,500-5,200	28 days	50	Local branches

❓ Old National Bank Mortgage FAQs 2026

What are Old National Bank mortgage rates in 2026?▼

Old National Bank mortgage rates (July 2026): 30-year fixed: 6.50-7.10% (740+ credit, 20% down). 15-year fixed: 5.85-6.35%. FHA: 6.20-6.70% (3.5% down). VA: 6.30-6.80% (0% down). Jumbo: 7.00-7.75% ($766K+). Relationship discount: 0.125-0.25% off if you have ONB checking ($25K+ balance). Rates are HIGHER than national average (6.65%) but competitive for regional banks. Compare vs lower rates from national lenders →

Is Old National Bank a good mortgage lender?▼

Old National Bank is a GOOD regional lender for IN/KY/WI/MI buyers who value in-person service and relationship banking. Pros: Local branches, relationship discounts (0.125-0.25% off), personal service, bundled banking benefits. Cons: Rates 0.10-0.45% HIGHER than online lenders, slower close (40-50 days), limited to Midwest states (IN, KY, WI, MI, MN). Best for: existing ONB customers, buyers who prefer local banks. NOT for: buyers seeking lowest rates or fast digital experience. Compare ONB vs other lenders →

Does Old National Bank offer relationship discounts?▼

Yes, Old National Bank offers 0.125-0.25% rate discount if you have: ONB Premier checking ($25K+ balance), ONB savings account, ONB investment accounts ($100K+), or auto-pay from ONB checking. Example: Standard rate 6.75% becomes 6.50% with 0.25% discount = $60/month savings on $400K loan. Requirements: Open ONB checking BEFORE mortgage application, maintain minimum balance during loan process, set up auto-pay for mortgage payment.

What states does Old National Bank operate in?▼

Old National Bank operates in 5 Midwest states (2026): Indiana (headquarters, best coverage), Kentucky, Wisconsin, Michigan, Minnesota. Total: 150+ branches in IN/KY/WI/MI/MN. NOT available in: IL, OH, MO, or 45 other states. If you're outside these 5 states, find nationwide lenders here →

How long does Old National Bank take to close?▼

Old National Bank closing timeline: Purchase: 40-50 days (regional bank process). Refinance: 35-45 days. Industry average: 30-35 days. ONB is SLOWER than national lenders (Rocket 25 days, Better.com 21 days) due to traditional underwriting, manual processes, and in-person requirements. Best for: buyers with flexible timelines. NOT for: competitive markets requiring fast close.

Should I use Old National Bank or a national lender?▼

Use Old National Bank if: You're an existing ONB customer (get relationship discount), value in-person service and local branches, buying in IN/KY/WI/MI, not time-sensitive (40-50 day close OK). Use national lender (Rocket, Better.com) if: You want lowest rates (save 0.15-0.45%), fast close (21-25 days), modern digital tools, nationwide availability. Compare ONB vs national lenders → Most buyers save $80-180/month with Better.com or Rocket.

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