Southwest Funding in Indiana vs the state
5.3%Denial rate-11.31 pts vs state
6.7%Decision denial rate-13.47 pts vs state
71.9%Origination rate+9.68 pts vs state
6.88%Median rate+0.13 pts vs state
0.64Rate spread (pts)+0.27 pts vs state
$76kMedian applicant income
41Loans originated
3Denied
Trend in Indiana
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 80 | 68 | 2.5% | 7.19% | #276 |
| 2024 | 82 | 45 | 6.1% | 7.13% | #285 |
| 2025 | 57 | 41 | 5.3% | 6.88% | #341 |
What Southwest Funding lends in Indiana
By loan purpose
By loan type
Why it denied Indiana applicants
Where in Indiana
Counties with the most Southwest Funding applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Marion County | 27 | 17 | 2 | 7.4% |
| Hendricks County | 6 | 4 | 1 | 16.7% |
| Clark County | 5 | 3 | 0 | 0.0% |
| St. Joseph County | 4 | 3 | 0 | 0.0% |
| Madison County | 3 | 3 | 0 | 0.0% |
| Hamilton County | 2 | 2 | 0 | 0.0% |
| Wabash County | 1 | 1 | 0 | 0.0% |
| Delaware County | 1 | 1 | 0 | 0.0% |
| Orange County | 1 | 1 | 0 | 0.0% |
| Marshall 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: 57 applications in 2025, of which 41 were originated and 3 denied.
5.3% 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 Southwest Funding originated in Indiana in 2025 was 6.88%, against a statewide median of 6.75%.
About this data. Figures are Southwest Funding'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