Bay Equity in Indiana vs the state
2.3%Denial rate-14.32 pts vs state
3.2%Decision denial rate-16.91 pts vs state
67.4%Origination rate+5.17 pts vs state
6.63%Median rate-0.13 pts vs state
0.16Rate spread (pts)-0.20 pts vs state
$121kMedian applicant income
60Loans originated
2Denied
Trend in Indiana
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 63 | 46 | 1.6% | 6.63% | #301 |
| 2024 | 89 | 68 | 2.3% | 6.56% | #264 |
| 2025 | 89 | 60 | 2.3% | 6.63% | #290 |
What Bay Equity lends in Indiana
By loan purpose
By loan type
Why it denied Indiana applicants
Where in Indiana
Counties with the most Bay Equity applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Marion County | 30 | 24 | 1 | 3.3% |
| Hamilton County | 13 | 8 | 0 | 0.0% |
| Lake County | 11 | 9 | 0 | 0.0% |
| Floyd County | 9 | 6 | 0 | 0.0% |
| Clark County | 6 | 2 | 0 | 0.0% |
| Hendricks County | 6 | 4 | 0 | 0.0% |
| Johnson County | 5 | 2 | 0 | 0.0% |
| Porter County | 5 | 3 | 0 | 0.0% |
| Morgan County | 2 | 1 | 1 | 50.0% |
| Dubois County | 1 | 1 | 0 | 0.0% |
Other large lenders in Indiana
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Rocket Mortgage | C | 13,503 | 18.6% | 6.75% |
| Ruoff Mortgage Company | A | 8,860 | 4.0% | 6.75% |
| Fifth Third Bank | D | 8,693 | 27.6% | 7.75% |
| United Shore Financial Services | B | 8,659 | 12.2% | 6.38% |
| Freedom Mortgage | B | 5,454 | 8.9% | 6.25% |
| Newrez | D | 5,421 | 18.2% | 6.63% |
| First Merchants Bank | C | 5,114 | 19.9% | 6.76% |
| Fairway Independent Mortgage | B | 4,813 | 7.4% | 6.75% |
| Mortgage Research Center | C | 4,791 | 19.0% | 6.25% |
| PNC Bank | D | 4,724 | 25.1% | 7.55% |
Frequently asked questions
Indiana: 89 applications in 2025, of which 60 were originated and 2 denied.
2.3% of all applications, or 3.2% of the applications it actually decided on. The Indiana statewide average across all lenders was 16.6%.
The median rate on loans Bay Equity originated in Indiana in 2025 was 6.63%, against a statewide median of 6.75%.
About this data. Figures are Bay Equity's own HMDA filing for properties located in Indiana, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology