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Old National Bank Mortgage Review 2023

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At a glance

Old National Bank

NMLS: 459308


Rating: 4.6 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; home equity line of credit (HELOC), home equity loan; construction loans; physician loan


Nationwide Availability

Available in all U.S. states

Credit Good

Min. credit score required

620 for conventional loans; 640 for FHA loans

Pros and cons

Checkmark Pros

  • Branches plus online banking
  • First-time homebuyer and down payment/closing cost assistance programs in some states
  • Special loan programs for first respondents and physicians

Close X Cons

  • Brick-and-mortar locations limited to five states

Old National Bank overview

Established in 1834, Old National Bank is one of the biggest in the Midwest, with more than 250 banking centers in Indiana, Kentucky, Michigan, Minnesota and Wisconsin. In addition to banking and financial management services, the bank assists borrowers with mortgages, including construction, land and lot loans.

Old National Bank is good for

Borrowers looking for an assortment of loan options, down payment assistance and the potential to save on closing costs

Breakdown of Old National Bank overall score

  • Affordability: Old National Bank posts its latest rates online and charges lower origination fees compared to some other banks.

  • Availability: Old National has a diverse set of loan offerings, including for borrowers those building homes or buying vacant lots, and doctors or other medical professionals.

  • Borrower experience: Old National Bank and First Midwest Bank merged in 2022, and the combination created some hiccups. The bank has an A+ rating from the Better Business Bureau.


To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.

Affordability: 5/5

Old National Bank displays its latest mortgage rates on its website. Generally, its rates are competitive to Bankrate’s averages. The bank’s mortgage fees include an $850 origination fee ($1,050 for construction loans), a $72 tax service fee and a $6.70 flood certification fee.

Availability: 4/5

Old National’s footprint is concentrated in the Midwest. The bank provides conventional and government-insured mortgages, along with construction loans, land loans and mortgages tailored to the needs of physicians. Its Community Experts and Heroes Program offers favorable terms to borrowers in two categories: It classifies accountants, actuaries, architects and other professionals as “community experts”; and teachers, nurses, police, firefighters and other first responders qualify as heroes.

Borrower experience: 4.7/5

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.

For those interested in a mortgage from the bank, Old National’s website offers mortgage calculators and other helpful homebuying information. You can also apply for a loan or find a local loan officer online. The bank’s Mortgage Manager helps you stay on top of payments.

Old National’s customer service hours are Monday through Friday, 7 a.m. to 6 p.m. CT, and Saturday 7 a.m. to 12 p.m. CT.

Refinancing with Old National Bank

You can refinance your current mortgage with Old National Bank. Notably, the bank’s “Quick Home Refi” program only runs $299 in closing costs.Alternatives to Old National Bank

Old National Bank consumer reviews


NMLS: 459308


Rating: 4.8 stars out of 5

117 reviews

5 stars
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About consumer ratings

Customer service rating

Rating: 4.8 stars out of 5
Level of service
Rating: 4.8 stars out of 5
Rating: 4.9 stars out of 5
Rating: 4.8 stars out of 5

96% of reviews would recommend this lender

10 of 10 rates honored

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Write a review of your experience with Old National Bank.

of 46 reviews

The consumer reviews posted on ("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.

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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Written by

Jeff Ostrowski

Senior mortgage reporter

Jeff Ostrowski covers mortgages and the housing market. Before joining Bankrate in 2020, he wrote about real estate and the economy for the Palm Beach Post and the South Florida Business Journal.

Edited by

Suzanne De Vita

Arrow Right

Mortgage editor