Proper Rate in Indiana vs the state
4.2%Denial rate-12.40 pts vs state
6.7%Decision denial rate-13.47 pts vs state
58.3%Origination rate-3.92 pts vs state
7.00%Median rate+0.25 pts vs state
0.56Rate spread (pts)+0.19 pts vs state
$122kMedian applicant income
14Loans originated
1Denied
Trend in Indiana
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 78 | 53 | 2.6% | 6.98% | #279 |
| 2024 | 98 | 75 | 1.0% | 6.88% | #253 |
| 2025 | 24 | 14 | 4.2% | 7.00% | #435 |
What Proper Rate lends in Indiana
By loan purpose
By loan type
Why it denied Indiana applicants
Where in Indiana
Counties with the most Proper Rate applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Lake County | 11 | 5 | 1 | 9.1% |
| Porter County | 8 | 6 | 0 | 0.0% |
| LaPorte County | 4 | 3 | 0 | 0.0% |
| Hamilton County | 1 | 0 | 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: 24 applications in 2025, of which 14 were originated and 1 denied.
4.2% of all applications, or 6.7% of the applications it actually decided on. The Indiana statewide average across all lenders was 16.6%.
The median rate on loans Proper Rate originated in Indiana in 2025 was 7.00%, against a statewide median of 6.75%.
About this data. Figures are Proper Rate'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