Todd Ronk, Mortgage Loan Consultant NMLS 562995

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Lafayette, IN
Todd Ronk, Mortgage Loan Consultant NMLS 562995

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Mortgage Banker at First Merchants Bank helping families reach their home ownership goals for 20+ yrs

10/29/2026

A mortgage pre-approval typically requires a credit check, which may cause a small, temporary impact to your credit score. For most buyers, the impact is minor.

If you're not quite ready for a full pre-approval, you may want to start with a pre-qualification instead. A pre-qualification is often based on information you provide verbally or online and can give you a general idea of what you may be able to afford. In many cases, it doesn't require a hard credit inquiry.

A pre-approval goes a step further. Your lender reviews your credit, income, assets, and other financial information to provide a more complete picture of your buying power.

Whether you're ready for a pre-qualification or a full pre-approval, understanding your options is often the first step toward homeownership.

Have questions about the process or ready to get started? I'd be happy to help.
https://myoc.io/dsj37vcmTUj

10/27/2026

First comes Fall. Then comes...

Snow, ice, and freezing temps.

Is your home ready?

10/22/2026

Thinking about building a home but not sure where to start?

Our Construction Loan Handbook breaks down the financing and building process in plain language, from understanding construction terms to navigating timelines, loan options, and common questions. You'll also learn about the tools and resources available through First Merchants to help guide you along the way.

📖 Download your free guide today:https://www.firstmerchants.com/docs/default-source/default-document-library/fmb-construction-loan-handbook-0723.pdf

10/20/2026

This is an interesting update from Fannie Mae.

Many homeowners are sitting on 3%-4% mortgage rates. They may want to sell, but they don’t want to give up their low rate. Now, keeping the home, renting it out, and still qualifying for the next home could be a viable option for more people.

Basically, under the old guidelines, if a homeowner wanted to use rental income to help qualify for another mortgage, they would need a signed lease and tenant in place. Now, lenders may use projected rental income for qualifying purposes.

In other words, homeowners may no longer need to wait until they've found a tenant and signed a lease before receiving credit for the home's rental income. That projected income can help offset the existing mortgage payment, potentially making it easier to qualify for the next home.

Curious how this could affect you or your clients? Reach out.

10/15/2026

"We got pre-approved, so we bought all the furniture for the new house."

It's a mistake that happens more often than you'd think.

Buying a home is exciting, and it's natural to start planning for life in the new space. But before financing furniture, appliances, or a new vehicle, check with your lender.

What seems like a routine purchase can affect the mortgage process in ways many buyers don't expect.

Keep things as close to "business as usual" as possible until after loan closing.

10/13/2026

Your emergency fund and your house fund should be two different things.

Why? Because home maintenance and repairs aren't a matter of if, they're a matter of when.

A dedicated "house fund" can help cover expected repairs and maintenance, from replacing a water heater to fixing a leaky roof, without dipping into your emergency fund.

10/08/2026

The final step in the homebuyer process is called “Closing”.

After your loan has gone through the approval process and you are “Clear to Close,” your lender will schedule a Closing day to finalize the transaction and transfer ownership of the home to you.

Here’s what you can expect:

👉 24 hours before closing, you may do a final walk-through of the property with your real estate agent to ensure it’s in the agreed upon condition and that the seller has moved out.

👉 Closing is typically held at the office of your title company or real estate agent and takes about one to two hours.

👉 During closing, you will be asked to review and sign a lot of documents and provide payment for your final closing costs and down payment.

After everything is signed and completed, you will receive the keys to your new home. You are officially a homeowner!

10/06/2026

Depending on your situation, you could qualify for low down payment financing, grants, or down payment assistance programs that help reduce upfront costs. The challenge is knowing what's available and understanding which programs can be combined.

That's where having the right lender matters.

I help my clients explore every available option. That could include our Community Homebuyer Grant, which offers up to $7,500 toward down payment and/or closing costs, as well as additional assistance programs available through local community partners.

Before you decide homeownership is out of reach, let's talk. A quick homebuyer consultation could uncover opportunities you didn't know existed.
https://myoc.io/dsj37vcmTUj

09/29/2026

When you finance your new construction home through First Merchants, you'll have access to Built, our online construction lending platform. Built gives you, your builder, and your lender a shared view of the project from groundbreaking to closing.

What you get as a homebuyer:

• Real-time visibility: Log in anytime to view construction progress, draw requests, funding activity, and project updates.

• A smoother building process: Because your builder and lender work within the same platform, draw requests and approvals can be processed more efficiently.

• Everything in one place: Access inspections, approvals, project documents, and funding history through a single portal.

• Greater confidence throughout the build: Track project milestones and stay informed about when funds are disbursed and work is progressing.

If you know someone planning to build a new home, I’m always here to help answer financing questions.
https://myoc.io/dsj37vcmTUj

09/24/2026

What costs more: buying today at 6.5% or waiting for a 5.0% rate?

The answer isn't as straightforward as most people think.

When home values appreciate over time, a lower future rate can be offset by a higher purchase price and larger down payment amount.

That's why smart homebuying decisions involve more than watching rates alone.

Swipe through for a simple example showing the potential cost of waiting. ➡️

Address

250 Main Street
Lafayette, IN
47901

Website

http://www.firstmerchants.com/ToddRonk

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