Purdue at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the B grade breaks down
Each component is a percentile rank among 581 mid-size mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
28th17.4% deniedPricingmedian rate spread over APOR, weight 30%
77th0.04 ptsProcesswithdrawn + incomplete share, weight 15%
84th9.0%Closing coststotal loan costs ÷ loan amount, weight 10%
56th2.15% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 1,562 | 1,047 | 21.9% | 24.6% | 7.38% | $188M |
| 2024 | 1,575 | 1,172 | 17.5% | 18.9% | 7.25% | $240M |
| 2025 | 1,637 | 1,220 | 15.8% | 17.4% | 7.00% | $234M |
What Purdue lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 654 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 101 investment properties.
Why Purdue denies applications
Primary reason reported for each of the 259 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Purdue
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 159 | 86 | 38.9% |
| $50k – $100k | 529 | 381 | 23.1% |
| $100k – $150k | 380 | 315 | 10.7% |
| $150k – $250k | 339 | 276 | 7.9% |
| Over $250k | 145 | 118 | 9.2% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 55 | 31 | 35.4% |
| 25–34 | 301 | 216 | 19.1% |
| 35–44 | 412 | 312 | 15.1% |
| 45–54 | 323 | 240 | 18.3% |
| 55–64 | 277 | 218 | 15.1% |
| 65–74 | 157 | 129 | 15.0% |
| Over 74 | 73 | 52 | 20.9% |
Where Purdue lends
31 states and 160 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Indiana | 1,426 | 1,121 | 13.0% | 7.00% | #59 |
| Ohio | 22 | 14 | 18.2% | 6.69% | #510 |
| Florida | 18 | 15 | 0.0% | 6.75% | #774 |
| Illinois | 18 | 9 | 22.2% | 6.75% | #610 |
| Georgia | 12 | 9 | 0.0% | 6.75% | #643 |
| Michigan | 11 | 10 | 0.0% | 6.31% | #508 |
| North Carolina | 8 | 5 | 12.5% | 6.63% | #668 |
| South Carolina | 7 | 4 | 42.9% | 7.00% | #580 |
| California | 6 | 3 | 50.0% | 6.75% | #795 |
| Wisconsin | 6 | 3 | 16.7% | 6.75% | #563 |
| Missouri | 5 | 5 | 0.0% | 6.75% | #606 |
| Virginia | 5 | 2 | 20.0% | 6.19% | #656 |
Frequently asked questions
Purdue denied 17.4% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 28th percentile of mid-size mortgage lenders.
The most common reason Purdue gave in 2025 was "debt-to-income ratio", cited on 41.7% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans Purdue originated in 2025 was 7.00%, and its median rate spread over the average prime offer rate was 0.04 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 40% of its applications were for home purchases, 10% for refinancing (including cash-out), and 50% for home improvement or other purposes. By loan type: 100% conventional, 0% FHA, 0% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.