Largest lenders in Elkhart County
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | Interra Credit Union | C | 865 | 572 | 18.6% | 7.50% |
| 2 | Lake City Bank | B | 410 | 319 | 11.0% | 7.75% |
| 3 | Ruoff Mortgage Company | A | 382 | 292 | 5.8% | 6.88% |
| 4 | Cardinal Financial Company, Limited Partnership | B | 361 | 335 | 1.7% | 6.99% |
| 5 | Rocket Mortgage | C | 343 | 245 | 18.1% | 6.75% |
| 6 | Triad Financial Services | D | 326 | 71 | 53.1% | 7.99% |
| 7 | 1st Source Bank | B | 309 | 193 | 22.0% | 7.50% |
| 8 | Everwise Credit Union | C | 305 | 208 | 14.1% | 7.50% |
| 9 | Notre Dame Federal Credit Union | B | 236 | 170 | 15.7% | 6.88% |
| 10 | Inova | B | 210 | 143 | 14.3% | 2.99% |
| 11 | First Federal Savings Bank | A | 185 | 165 | 1.6% | 7.13% |
| 12 | Freedom Mortgage | B | 175 | 66 | 10.9% | 6.38% |
| 13 | United Shore Financial Services | B | 151 | 90 | 21.2% | 6.13% |
| 14 | Union Home Mortgage | B | 141 | 120 | 1.4% | 6.63% |
| 15 | JPMorgan Chase Bank | B | 128 | 83 | 5.5% | 6.49% |
| 16 | First State Bank of Middlebury | B | 127 | 113 | 5.5% | — |
| 17 | Crosscountry Mortgage | B | 117 | 86 | 3.4% | 6.58% |
| 18 | Farmers State Bank | A | 103 | 89 | 7.8% | 7.25% |
| 19 | Fifth Third Bank | D | 101 | 53 | 27.7% | 9.00% |
| 20 | Horizon Bank | A | 97 | 66 | 22.7% | 6.06% |
| 21 | Everett Financial | C | 95 | 70 | 7.4% | 7.25% |
| 22 | 21st Mortgage | F | 88 | 20 | 64.8% | 10.56% |
| 23 | Centier Bank | C | 86 | 58 | 19.8% | 8.38% |
| 24 | Mortgage Research Center | C | 85 | 38 | 28.2% | 6.38% |
| 25 | KeyBank | C | 82 | 44 | 29.3% | 6.63% |
Best approval odds in Elkhart County
Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.
| # | Lender | Decided | Decision denial rate |
|---|---|---|---|
| 1 | Geneva Financial | 51 | 0.0% |
| 2 | Union Home Mortgage | 123 | 1.6% |
| 3 | Cardinal Financial Company, Limited Partnership | 355 | 1.7% |
| 4 | The Campbell & Fetter Bank | 56 | 1.8% |
| 5 | First Federal Savings Bank | 168 | 1.8% |
| 6 | Crosscountry Mortgage | 92 | 4.4% |
| 7 | First State Bank of Middlebury | 120 | 5.8% |
| 8 | Ruoff Mortgage Company | 344 | 6.4% |
| 9 | JPMorgan Chase Bank | 92 | 7.6% |
| 10 | Farmers State Bank | 99 | 8.1% |
What Elkhart County borrowers applied for
By loan purpose
By loan type
Why applications were denied
Elkhart County by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan |
|---|---|---|---|---|---|
| 2023 | 6,874 | 4,301 | 19.0% | 7.38% | $105,000 |
| 2024 | 7,079 | 4,517 | 18.8% | 7.13% | $125,000 |
| 2025 | 7,690 | 4,829 | 17.6% | 7.00% | $145,000 |
Frequently asked questions
17.6% of applications in Elkhart County were denied in 2025, against 16.6% statewide in Indiana.
Interra Credit Union, with 865 applications in 2025 and a denial rate of 18.6%.
The median mortgage application in Elkhart County in 2025 was for $145,000; the median property value on originated loans was $275,000.