Largest lenders in Spencer County
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | German American Bank | A | 97 | 76 | 14.4% | 6.62% |
| 2 | Liberty | B | 45 | 40 | 0.0% | 6.75% |
| 3 | Hoosier Hills Credit Union | C | 39 | 27 | 15.4% | 7.50% |
| 4 | Old National Bank | B | 32 | 18 | 28.1% | 6.43% |
| 5 | Mortgage Masters of Indiana | B | 32 | 29 | 3.1% | 6.50% |
| 6 | Fifth Third Bank | D | 30 | 15 | 26.7% | 8.99% |
| 7 | Heritage Federal Credit Union | D | 27 | 18 | 22.2% | 7.06% |
| 8 | Rocket Mortgage | C | 25 | 20 | 8.0% | 6.49% |
| 9 | Gvc Mortgage | B | 21 | 19 | 0.0% | 7.13% |
| 10 | Mortgage Research Center | C | 18 | 7 | 33.3% | 6.13% |
| 11 | Freedom Mortgage | B | 17 | 7 | 11.8% | 6.25% |
| 12 | United Shore Financial Services | B | 16 | 10 | 18.8% | 6.05% |
| 13 | Vanderbilt Mortgage and Finance | F | 13 | 5 | 38.5% | 9.50% |
| 14 | Lnb Community Bank | B | 13 | 10 | 7.7% | — |
| 15 | Broker Solutions | D | 12 | 3 | 16.7% | 6.75% |
| 16 | Pennymac Loan Services | C | 11 | 3 | 27.3% | 7.12% |
| 17 | AmeriSave Mortgage | D | 9 | 2 | 55.6% | 6.06% |
| 18 | Newrez | D | 8 | 1 | 0.0% | 6.24% |
| 19 | Crosscountry Mortgage | B | 6 | 2 | 0.0% | 6.68% |
| 20 | Indiana Members Credit Union | B | 6 | 3 | 0.0% | 5.88% |
| 21 | Navy Federal Credit Union | D | 6 | 0 | 100.0% | — |
| 22 | U.S. Bank | D | 5 | 2 | 0.0% | 7.48% |
| 23 | 21st Mortgage | F | 5 | 0 | 60.0% | — |
| 24 | Village Capital & Investment | C | 5 | 1 | 0.0% | 6.00% |
| 25 | Stockton Mortgage | D | 5 | 2 | 0.0% | 6.75% |
Best approval odds in Spencer County
Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.
| # | Lender | Decided | Decision denial rate |
|---|---|---|---|
| 1 | German American Bank | 91 | 15.4% |
What Spencer County borrowers applied for
By loan purpose
By loan type
Why applications were denied
Spencer County by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan |
|---|---|---|---|---|---|
| 2023 | 550 | 335 | 19.1% | 7.13% | $115,000 |
| 2024 | 622 | 416 | 16.7% | 6.88% | $135,000 |
| 2025 | 655 | 407 | 17.3% | 6.75% | $135,000 |
Frequently asked questions
17.3% of applications in Spencer County were denied in 2025, against 16.6% statewide in Indiana.
German American Bank, with 97 applications in 2025 and a denial rate of 14.4%.
The median mortgage application in Spencer County in 2025 was for $135,000; the median property value on originated loans was $235,000.