Spring Eq in Indiana vs the state
44.2%Denial rate+27.62 pts vs state
55.3%Decision denial rate+35.12 pts vs state
34.6%Origination rate-27.69 pts vs state
9.88%Median rate+3.13 pts vs state
3.83Rate spread (pts)+3.46 pts vs state
$96kMedian applicant income
571Loans originated
730Denied
Trend in Indiana
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 1,367 | 357 | 59.3% | 11.13% | #54 |
| 2024 | 1,592 | 531 | 49.9% | 10.05% | #50 |
| 2025 | 1,652 | 571 | 44.2% | 9.88% | #48 |
What Spring Eq lends in Indiana
By loan purpose
By loan type
Why it denied Indiana applicants
Where in Indiana
Counties with the most Spring Eq applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Marion County | 175 | 63 | 82 | 46.9% |
| Lake County | 150 | 53 | 65 | 43.3% |
| Hamilton County | 135 | 55 | 57 | 42.2% |
| Porter County | 73 | 24 | 30 | 41.1% |
| Hendricks County | 69 | 18 | 37 | 53.6% |
| Allen County | 68 | 27 | 30 | 44.1% |
| Johnson County | 64 | 27 | 14 | 21.9% |
| Clark County | 58 | 21 | 26 | 44.8% |
| St. Joseph County | 56 | 18 | 25 | 44.6% |
| Hancock County | 45 | 17 | 17 | 37.8% |
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: 1,652 applications in 2025, of which 571 were originated and 730 denied.
44.2% of all applications, or 55.3% of the applications it actually decided on. The Indiana statewide average across all lenders was 16.6%.
The median rate on loans Spring Eq originated in Indiana in 2025 was 9.88%, against a statewide median of 6.75%.
About this data. Figures are Spring Eq'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