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Lake County, Illinois · 2025

Mortgage lenders in Lake County, IL: denial rates and top lenders (2025)

508 lenders acted on 24,891 mortgage applications for properties in Lake County in 2025. 15.5% were denied (Illinois: 17.1%). Median rate on closed loans 6.75%; median loan $235,000; median property value $415,000.

25kApplications
15.5%Denial ratestate 17.1%
6.75%Median ratestate 6.75%
$235,000Median loan
$415,000Median property value

Largest lenders in Lake County

#LenderGradeApplicationsOriginatedDenial rateMedian rate
1 United Shore Financial Services B 1,035773 11.3%6.50%
2 Guaranteed Rate B 1,031614 3.7%6.63%
3 Rocket Mortgage C 991725 16.9%6.75%
4 JPMorgan Chase Bank B 981629 9.5%6.49%
5 Crosscountry Mortgage B 892588 3.4%6.75%
6 Consumers Cooperative Credit Union A 746568 10.3%6.13%
7 Fifth Third Bank D 733345 26.3%7.50%
8 PNC Bank D 574363 18.3%6.63%
9 Bank of America F 573273 28.5%5.99%
10 BMO Bank F 567285 30.7%8.25%
11 The Huntington National Bank D 567333 27.3%7.44%
12 Baxter Credit Union B 554332 17.5%7.25%
13 Old National Bank B 517294 29.6%6.13%
14 Barrington Bank & Trust Company C 502351 3.2%6.63%
15 U.S. Bank D 481243 35.8%6.88%
16 Fairway Independent Mortgage B 466323 4.9%6.75%
17 GREENSTATE Credit Union B 383261 4.7%6.75%
18 Newrez D 379123 20.6%6.75%
19 Loandepot.Com D 376213 18.4%6.75%
20 Pennymac Loan Services C 374189 14.7%6.49%
21 Mortgage Research Center C 365173 12.1%6.25%
22 Navy Federal Credit Union D 362172 17.4%7.13%
23 Coastal Community Bank C 34769 2.0%9.49%
24 First American Bank C 329194 25.8%7.25%
25 Abbott Laboratories Employees Credit Union C 317216 4.7%—

Best approval odds in Lake County

Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.

#LenderDecidedDecision denial rate
1A & N Mortgage Services800.0%
2Towne Mortgage1160.9%
3Morgan Stanley Private Bank551.8%
4OriginPoint1611.9%
5T2 Financial512.0%
6Key Mortgage Services1382.2%
7Coastal Community Bank2482.8%
8Barrington Bank & Trust Company3724.3%
9Prosperity Home Mortgage694.4%
10Diamond Residential Mortgage1094.6%

What Lake County borrowers applied for

By loan purpose

Home purchase 10,538 42% · 7.1% denied
Refinance 4,345 17% · 12.6% denied
Cash-out refinance 4,266 17% · 19.8% denied
Home improvement 2,532 10% · 28.9% denied
Other / HELOC 3,210 13% · 30.3% denied

By loan type

Conventional 21,357 86% · 15.3% denied
FHA 2,163 9% · 19.7% denied
VA 1,371 6% · 10.7% denied

Why applications were denied

Debt-to-income ratio 1,407 37%
Credit history 857 23%
Incomplete application 558 15%
Collateral 465 12%
Other 255 7%
Unverifiable information 155 4%
Insufficient cash 75 2%
Employment history 35 1%
Mortgage insurance denied 1 0%

Lake County by year

YearApplicationsOriginatedDenial rateMedian rateMedian loan
202319,66011,48017.3%6.99%$205,000
202421,89912,80417.5%6.99%$215,000
202524,89114,70215.5%6.75%$235,000

Frequently asked questions

15.5% of applications in Lake County were denied in 2025, against 17.1% statewide in Illinois.

United Shore Financial Services, with 1,035 applications in 2025 and a denial rate of 11.3%.

The median mortgage application in Lake County in 2025 was for $235,000; the median property value on originated loans was $415,000.