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Madison County, Iowa · 2025

Mortgage lenders in Madison County, IA: denial rates and top lenders (2025)

133 lenders acted on 822 mortgage applications for properties in Madison County in 2025. 13.9% were denied (Iowa: 12.9%). Median rate on closed loans 6.63%; median loan $175,000; median property value $335,000.

822Applications
13.9%Denial ratestate 12.9%
6.63%Median ratestate 6.50%
$175,000Median loan
$335,000Median property value

Largest lenders in Madison County

#LenderGradeApplicationsOriginatedDenial rateMedian rate
1 GREENSTATE Credit Union B 8156 11.1%6.49%
2 Community Choice Credit Union B 4931 10.2%6.13%
3 Veridian Credit Union B 4833 20.8%6.74%
4 Farmers and Merchants State Bank – 4541 2.2%—
5 Union State Bank – 3325 18.2%—
6 Rocket Mortgage C 3120 22.6%6.56%
7 Broker Solutions D 2618 0.0%6.88%
8 Barrington Bank & Trust Company C 2521 4.0%6.50%
9 American State Bank – 2524 0.0%—
10 Northwest Bank A 1610 18.8%6.31%
11 Freedom Mortgage B 165 6.3%6.25%
12 United Shore Financial Services B 1612 12.5%6.12%
13 Mortgage Research Center C 168 25.0%6.38%
14 U.S. Bank D 158 33.3%7.50%
15 Earlham Savings Bank – 1511 6.7%—
16 Stockton Mortgage D 146 14.3%6.50%
17 Iowa Bankers Mortgage B 138 23.1%6.75%
18 Premier Credit Union A 1212 0.0%8.00%
19 Central Bank A 1110 0.0%6.63%
20 Greater Iowa Credit Union D 116 18.2%6.74%
21 Gershman Investment B 105 0.0%6.06%
22 Homeservices Lending B 109 0.0%6.56%
23 Newrez D 105 20.0%6.25%
24 Marine Credit Union F 105 40.0%9.13%
25 Luana Savings Bank A 99 0.0%6.18%

Best approval odds in Madison County

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

#LenderDecidedDecision denial rate
1GREENSTATE Credit Union6813.2%

What Madison County borrowers applied for

By loan purpose

Home purchase 307 37% · 5.9% denied
Refinance 162 20% · 10.5% denied
Cash-out refinance 109 13% · 21.1% denied
Home improvement 104 13% · 14.4% denied
Other / HELOC 140 17% · 29.3% denied

By loan type

Conventional 675 82% · 13.8% denied
FHA 81 10% · 17.3% denied
VA 56 7% · 12.5% denied
USDA / RHS 10 1% · 0.0% denied

Why applications were denied

Debt-to-income ratio 36 34%
Credit history 30 29%
Collateral 18 17%
Incomplete application 8 8%
Other 7 7%
Unverifiable information 3 3%
Employment history 2 2%
Insufficient cash 1 1%

Madison County by year

YearApplicationsOriginatedDenial rateMedian rateMedian loan
202361841614.2%6.75%$145,000
202469145414.3%6.75%$175,000
202582254013.9%6.63%$175,000

Frequently asked questions

13.9% of applications in Madison County were denied in 2025, against 12.9% statewide in Iowa.

GREENSTATE Credit Union, with 81 applications in 2025 and a denial rate of 11.1%.

The median mortgage application in Madison County in 2025 was for $175,000; the median property value on originated loans was $335,000.