State report · HMDA 2025
Indiana mortgages and home buyers, 2025
Incomes, down payments, rates, loan costs, denials and lenders across Indiana's 92 counties, from official HMDA records.
HMDA 2025 data released June 23, 2026
In 2025, lenders reported 72,884 home-purchase mortgages for owner-occupied, single-family homes in Indiana. The median buyer borrowed $245,000 on a home valued at $285,000 and reported a household income of $90,000.
Buyers financed a median 95% of the home's value (roughly 5% down), paid a median 6.625% on 30-year fixed conventional loans and faced median conventional loan costs of $3,350.
Lenders denied 7.4% of completed home-purchase applications.
Purchase loans
72,884
719 lenders active
Buyer income
$90,000
U.S. $116,000
Down payment
5%
U.S. 10%
30-yr fixed rate
6.625%
U.S. 6.625%
Loan costs
$3,350
Conventional · U.S. $5,570
FHA limit 2026
$541,287
1-unit home, all counties
Key facts
- Home buyers' median income ($90,000) is 22% lower than the U.S. median ($116,000).
- Median conventional loan costs ($3,350) were 40% lower than the U.S. median ($5,570).
- The most common age bracket among borrowers was 25–34 (34.4% of purchase loans).
- 57.4% of purchase mortgages had a single borrower with no co-applicant.
- The most-cited reason for denial was debt-to-income ratio (35.5% of denials with a stated reason).
The 2026 conforming limit is $832,750 for a one-unit home in every Indiana county. See every Indiana county's 2026 FHA and conforming loan limits.
Indiana counties compared
Click a column to sort. Medians shown with at least 30 loans.
| County | Purchase loans | Median loan | Buyer income | Down payment | 30-yr rate | Loan costs | Denial rate | FHA limit |
|---|---|---|---|---|---|---|---|---|
| Adams County | 284 | $185,000 | $67,000 | 5.0% | 6.625% | $2,750 | 4.3% | $541,287 |
| Allen County | 4,692 | $225,000 | $83,000 | 5.0% | 6.625% | $3,000 | 6.6% | $541,287 |
| Bartholomew County | 917 | $245,000 | $90,000 | 7.7% | 6.625% | $3,150 | 6.9% | $541,287 |
| Benton County | 110 | $195,000 | $79,000 | 5.0% | 6.875% | $3,040 | 6.7% | $541,287 |
| Blackford County | 104 | $125,000 | $62,000 | 3.5% | 6.875% | $3,150 | 8.5% | $541,287 |
| Boone County | 1,360 | $345,000 | $133,000 | 15.0% | 6.625% | $3,440 | 9.0% | $541,287 |
| Brown County | 138 | $285,000 | $110,000 | 18.0% | 6.625% | $3,600 | 9.9% | $541,287 |
| Carroll County | 195 | $215,000 | $83,000 | 5.0% | 6.750% | $3,200 | 6.5% | $541,287 |
| Cass County | 315 | $165,000 | $69,000 | 5.0% | 6.625% | $2,620 | 7.3% | $541,287 |
| Clark County | 1,845 | $245,000 | $88,000 | 5.0% | 6.625% | $3,220 | 8.3% | $541,287 |
| Clay County | 218 | $185,000 | $75,000 | 5.0% | 6.750% | $3,050 | 5.9% | $541,287 |
| Clinton County | 332 | $205,000 | $73,000 | 5.0% | 6.750% | $3,180 | 5.7% | $541,287 |
| Crawford County | 59 | $195,000 | $82,000 | 5.0% | — | $3,090 | 14.3% | $541,287 |
| Daviess County | 176 | $205,000 | $82,000 | 5.0% | 6.750% | $3,130 | 12.0% | $541,287 |
| Dearborn County | 513 | $265,000 | $101,000 | 10.0% | 6.625% | $3,380 | 3.5% | $541,287 |
| Decatur County | 242 | $215,000 | $79,000 | 5.0% | 6.750% | $2,990 | 7.8% | $541,287 |
| DeKalb County | 528 | $215,000 | $78,000 | 5.0% | 6.625% | $3,120 | 3.8% | $541,287 |
| Delaware County | 990 | $165,000 | $71,000 | 5.0% | 6.853% | $3,010 | 5.2% | $541,287 |
| Dubois County | 287 | $215,000 | $77,000 | 5.0% | 6.625% | $2,780 | 7.0% | $541,287 |
| Elkhart County | 1,808 | $235,000 | $82,000 | 5.0% | 6.750% | $3,470 | 4.8% | $541,287 |
| Fayette County | 223 | $135,000 | $61,000 | 3.5% | 6.875% | $3,080 | 11.3% | $541,287 |
| Floyd County | 1,039 | $245,000 | $93,000 | 7.5% | 6.625% | $3,340 | 6.4% | $541,287 |
| Fountain County | 147 | $185,000 | $77,000 | 3.5% | 6.875% | $2,990 | 7.1% | $541,287 |
| Franklin County | 173 | $245,000 | $97,000 | 15.0% | 6.750% | $3,130 | 7.8% | $541,287 |
| Fulton County | 148 | $165,000 | $69,000 | 5.0% | 6.750% | $2,660 | 9.4% | $541,287 |
| Gibson County | 299 | $185,000 | $76,000 | 5.0% | 6.625% | $3,040 | 5.5% | $541,287 |
| Grant County | 493 | $155,000 | $66,000 | 3.5% | 6.875% | $2,930 | 7.5% | $541,287 |
| Greene County | 276 | $195,000 | $79,000 | 3.5% | 6.750% | $3,000 | 13.0% | $541,287 |
| Hamilton County | 5,777 | $375,000 | $145,000 | 20.0% | 6.625% | $3,620 | 4.8% | $541,287 |
| Hancock County | 1,857 | $315,000 | $107,000 | 10.0% | 6.500% | $3,700 | 8.3% | $541,287 |
| Harrison County | 381 | $245,000 | $90,000 | 8.8% | 6.500% | $3,170 | 8.9% | $541,287 |
| Hendricks County | 2,940 | $315,000 | $105,000 | 6.2% | 6.500% | $3,580 | 11.1% | $541,287 |
| Henry County | 453 | $175,000 | $70,000 | 5.0% | 6.875% | $3,030 | 7.6% | $541,287 |
| Howard County | 1,113 | $175,000 | $72,000 | 5.0% | 6.750% | $2,970 | 7.7% | $541,287 |
| Huntington County | 354 | $175,000 | $73,000 | 5.0% | 6.625% | $2,890 | 6.1% | $541,287 |
| Jackson County | 344 | $205,000 | $73,000 | 4.6% | 6.750% | $3,170 | 3.3% | $541,287 |
| Jasper County | 321 | $245,000 | $88,000 | 5.2% | 6.750% | $3,630 | 3.5% | $541,287 |
| Jay County | 127 | $145,000 | $58,000 | 3.5% | 6.875% | $2,930 | 13.2% | $541,287 |
| Jefferson County | 295 | $205,000 | $80,000 | 5.0% | 6.625% | $3,580 | 6.3% | $541,287 |
| Jennings County | 200 | $205,000 | $75,000 | 5.0% | 6.750% | $3,350 | 12.5% | $541,287 |
| Johnson County | 2,648 | $295,000 | $104,000 | 8.4% | 6.625% | $3,760 | 10.0% | $541,287 |
| Knox County | 257 | $145,000 | $63,000 | 5.0% | 6.599% | $2,660 | 8.2% | $541,287 |
| Kosciusko County | 746 | $225,000 | $83,000 | 10.0% | 6.750% | $3,250 | 5.1% | $541,287 |
| LaGrange County | 267 | $275,000 | $92,000 | 18.7% | 6.750% | $3,260 | 9.2% | $541,287 |
| Lake County | 4,990 | $255,000 | $93,000 | 5.0% | 6.625% | $3,880 | 7.0% | $541,287 |
| LaPorte County | 800 | $215,000 | $81,000 | 5.0% | 6.875% | $3,500 | 5.4% | $541,287 |
| Lawrence County | 417 | $195,000 | $75,000 | 3.5% | 6.625% | $3,010 | 7.7% | $541,287 |
| Madison County | 1,407 | $195,000 | $73,000 | 3.5% | 6.750% | $3,330 | 7.7% | $541,287 |
| Marion County | 9,552 | $245,000 | $82,000 | 5.0% | 6.625% | $3,460 | 9.8% | $541,287 |
| Marshall County | 355 | $225,000 | $81,000 | 5.7% | 6.875% | $3,170 | 6.9% | $541,287 |
| Martin County | 59 | $185,000 | $80,000 | 3.5% | — | — | 7.7% | $541,287 |
| Miami County | 232 | $165,000 | $70,000 | 5.0% | 6.750% | $2,580 | 8.6% | $541,287 |
| Monroe County | 1,081 | $275,000 | $106,000 | 15.3% | 6.625% | $3,070 | 5.0% | $541,287 |
| Montgomery County | 446 | $195,000 | $76,000 | 5.0% | 6.750% | $3,080 | 5.8% | $541,287 |
| Morgan County | 1,074 | $275,000 | $93,000 | 5.0% | 6.625% | $3,620 | 10.6% | $541,287 |
| Newton County | 158 | $205,000 | $77,000 | 5.7% | 6.625% | $3,710 | 9.1% | $541,287 |
| Noble County | 397 | $205,000 | $75,000 | 5.0% | 6.625% | $3,290 | 8.2% | $541,287 |
| Ohio County | 36 | $215,000 | $78,000 | 9.3% | — | — | 7.3% | $541,287 |
| Orange County | 122 | $185,000 | $73,000 | 4.6% | 6.875% | $3,090 | 13.2% | $541,287 |
| Owen County | 171 | $235,000 | $90,000 | 5.1% | 6.750% | $3,310 | 10.8% | $541,287 |
| Parke County | 106 | $185,000 | $83,000 | 5.0% | 6.875% | $3,230 | 10.9% | $541,287 |
| Perry County | 161 | $165,000 | $72,000 | 5.0% | 6.750% | $2,910 | 15.7% | $541,287 |
| Pike County | 96 | $185,000 | $75,000 | 5.0% | 6.625% | $3,220 | 7.3% | $541,287 |
| Porter County | 1,995 | $295,000 | $105,000 | 10.0% | 6.625% | $3,920 | 5.1% | $541,287 |
| Posey County | 245 | $205,000 | $91,000 | 10.0% | 6.625% | $3,090 | 6.7% | $541,287 |
| Pulaski County | 94 | $205,000 | $67,000 | 4.8% | 6.875% | $3,650 | 5.9% | $541,287 |
| Putnam County | 353 | $235,000 | $90,000 | 5.0% | 6.750% | $3,300 | 6.5% | $541,287 |
| Randolph County | 219 | $135,000 | $68,000 | 5.0% | 6.750% | $2,740 | 7.9% | $541,287 |
| Ripley County | 214 | $235,000 | $86,000 | 5.0% | 6.625% | $2,940 | 9.2% | $541,287 |
| Rush County | 153 | $185,000 | $76,000 | 5.0% | 6.875% | $3,130 | 8.5% | $541,287 |
| St. Joseph County | 2,448 | $205,000 | $78,000 | 5.0% | 6.750% | $3,230 | 5.6% | $541,287 |
| Scott County | 268 | $195,000 | $75,000 | 3.5% | 6.625% | $3,110 | 11.2% | $541,287 |
| Shelby County | 539 | $235,000 | $81,000 | 5.0% | 6.575% | $3,470 | 6.9% | $541,287 |
| Spencer County | 134 | $185,000 | $85,000 | 5.0% | 6.625% | $3,020 | 11.0% | $541,287 |
| Starke County | 204 | $185,000 | $71,000 | 5.0% | 6.875% | $3,490 | 9.8% | $541,287 |
| Steuben County | 282 | $235,000 | $87,000 | 6.0% | 6.625% | $3,200 | 9.9% | $541,287 |
| Sullivan County | 145 | $155,000 | $70,000 | 5.0% | 6.875% | $2,930 | 11.9% | $541,287 |
| Switzerland County | 83 | $225,000 | $94,000 | 10.0% | 6.875% | $3,300 | 5.4% | $541,287 |
| Tippecanoe County | 1,731 | $265,000 | $101,000 | 10.0% | 6.750% | $3,220 | 4.8% | $541,287 |
| Tipton County | 163 | $205,000 | $84,000 | 5.0% | 6.750% | $3,150 | 4.2% | $541,287 |
| Union County | 57 | $185,000 | $90,000 | 10.5% | — | — | 6.5% | $541,287 |
| Vanderburgh County | 1,970 | $195,000 | $78,000 | 5.0% | 6.625% | $3,050 | 5.1% | $541,287 |
| Vermillion County | 144 | $135,000 | $62,000 | 3.5% | 6.750% | $2,990 | 5.0% | $541,287 |
| Vigo County | 904 | $175,000 | $80,000 | 5.0% | 6.875% | $3,030 | 8.3% | $541,287 |
| Wabash County | 301 | $165,000 | $72,000 | 5.0% | 6.750% | $2,880 | 9.0% | $541,287 |
| Warren County | 71 | $185,000 | $81,000 | 3.5% | 6.875% | $3,180 | 7.5% | $541,287 |
| Warrick County | 781 | $265,000 | $103,000 | 10.0% | 6.625% | $3,050 | 4.7% | $541,287 |
| Washington County | 213 | $205,000 | $75,000 | 5.0% | 6.625% | $3,160 | 7.6% | $541,287 |
| Wayne County | 601 | $155,000 | $67,000 | 3.5% | 6.750% | $3,010 | 8.9% | $541,287 |
| Wells County | 309 | $205,000 | $76,000 | 7.2% | 6.750% | $3,130 | 4.4% | $541,287 |
| White County | 207 | $195,000 | $78,000 | 5.0% | 6.750% | $3,090 | 6.6% | $541,287 |
| Whitley County | 372 | $225,000 | $85,000 | 9.7% | 6.625% | $3,170 | 4.9% | $541,287 |
Who bought homes in Indiana
Home-purchase mortgages for owner-occupied, single-family (1–4 unit) site-built homes, first liens, originated in 2025.
Purchase loans
72,884
of 81,424 applications
Buyer income
$90,000
Middle half $63,000–$134,000
Home value
$285,000
Middle half $205,000–$395,000
Loan amount
$245,000
Middle half $175,000–$335,000
Down payment
5%
33.2% put 20%+ down
Single borrower
57.4%
No co-applicant
Values are medians; "middle half" is the 25th to 75th percentile.
Loan type
What the homes were for
All first-lien, closed-end purchase mortgages, including second homes and investors.
Borrower age
Debt-to-income ratio
Monthly debts (including the new payment) as a share of income, as used in underwriting.
What borrowing cost in Indiana
Medians for 2025 home-purchase loans. Total loan costs are section D of the Loan Estimate/Closing Disclosure (lender and third-party loan charges, excluding taxes, prepaids and escrow). FHA and VA costs include the upfront mortgage insurance premium or VA funding fee, so compare like with like.
| Measure | Indiana | U.S. |
|---|---|---|
| 30-year fixed rate · conventional | 6.625% | 6.625% |
| 30-year fixed rate · FHA | 6.500% | 6.250% |
| 30-year fixed rate · VA | 6.250% | 6.125% |
| 15-year fixed rate · conventional | 5.875% | 5.875% |
| Rate spread vs. APOR · conventional | +0.24 pts | +0.13 pts |
| Total loan costs · conventional | $3,350 | $5,570 |
| Total loan costs · FHA | $8,150 | $11,310 |
| Total loan costs · VA | $4,230 | $6,490 |
| Origination charges (all loan types) | $1,570 | $1,860 |
| Borrowers paying discount points | 48.7% | 51.3% |
| Points paid, when paid (% of loan) | 0.70% | 0.87% |
| Borrowers receiving lender credits | 29.5% | 33.1% |
| Adjustable-rate mortgages | 5.7% | 7.4% |
| Jumbo loans (above conforming limit) | 1.1% | 3.8% |
Medians are shown only when at least 30 loans report the field. Rates are those reported at closing; market rates changed during 2025, which the rate spread (APR minus the average prime offer rate on the lock date) adjusts for.
Approvals and denials
Indiana: 6,052 of 81,424 completed home-purchase applications were denied (7.4%).
Denial rate
| Application | Indiana | U.S. |
|---|---|---|
| Home purchase | 7.4% | 8.5% |
| Conventional | 5.9% | 7.1% |
| FHA | 11.7% | 12.5% |
| VA | 8.4% | 8.0% |
| USDA | 9.1% | 12.5% |
| Refinance | 16.1% | 17.9% |
| Cash-out refinance | 32.6% | 33.6% |
Main reason for purchase denials
First reason the lender reported.
Denial rate = denied ÷ (originated + approved but not accepted + denied). Withdrawn and incomplete applications are excluded. Differences between places reflect who applies, not only lender behavior.
Refinancing in Indiana
Refinances
15,646
Median loan $245,000
Refi rate
6.375%
30-yr fixed, conv.
Refi loan costs
$3,370
Conventional
Cash-out refis
15,923
Median loan $175,000
Cash-out rate
6.875%
30-yr fixed, conv.
Cash-out income
$76,000
Median borrower
Top mortgage lenders in Indiana
| # | Lender | Loans | Share | Denial rate | 30-yr rate* | Spread* | Costs* |
|---|---|---|---|---|---|---|---|
| 1 | Rocket Mortgage, LLC | 6,826 | 6.5% | 12.0% | 6.625% | +0.30 | $4,220 |
| 2 | Ruoff Mortgage Company, Inc. | 6,214 | 5.9% | 2.9% | 6.875% | +0.38 | $3,080 |
| 3 | United Wholesale Mortgage (UWM) | 5,459 | 5.2% | 7.6% | 6.624% | +0.26 | $4,410 |
| 4 | Fairway Independent Mortgage Corporation | 3,050 | 2.9% | 7.4% | 6.750% | +0.29 | $3,320 |
| 5 | GVC Mortgage, Inc. | 3,026 | 2.9% | 2.5% | 6.875% | +0.45 | $3,870 |
| 6 | Freedom Mortgage Corporation | 2,521 | 2.4% | 14.2% | 6.750% | +0.14 | $7,400 |
| 7 | JPMorgan Chase Bank, N.A. | 2,235 | 2.1% | 10.8% | 6.490% | −0.01 | $2,650 |
| 8 | Veterans United Home Loans | 2,203 | 2.1% | 9.6% | 6.750% | +0.38 | $1,730 |
| 9 | Union Home Mortgage Corp. | 1,898 | 1.8% | 2.8% | 6.875% | +0.46 | $4,080 |
| 10 | CrossCountry Mortgage, Inc. | 1,886 | 1.8% | 2.4% | 6.875% | +0.49 | $4,220 |
| 11 | Lennar Mortgage, LLC | 1,686 | 1.6% | 17.8% | 5.375% | −0.79 | $3,880 |
| 12 | Newrez LLC | 1,509 | 1.4% | 7.7% | 6.750% | +0.38 | $3,190 |
| 13 | Fifth Third Bank, N.A. | 1,431 | 1.4% | 9.0% | 6.625% | +0.11 | $3,070 |
| 14 | Pennymac Loan Services, LLC | 1,391 | 1.3% | 15.2% | 6.625% | +0.30 | $4,150 |
| 15 | Vanderbilt Mortgage and Finance, Inc. | 1,295 | 1.2% | 2.3% | 5.990% | −0.30 | $4,930 |
| 16 | Three Rivers Federal Credit Union | 1,265 | 1.2% | 6.2% | 6.625% | +0.24 | $2,820 |
| 17 | MJW Financial LLC | 1,134 | 1.1% | 3.4% | 6.750% | +0.23 | $3,420 |
| 18 | Rate | 1,130 | 1.1% | 5.5% | 6.750% | +0.30 | $3,850 |
| 19 | Guild Mortgage Company | 1,122 | 1.1% | 3.4% | 6.625% | +0.28 | $3,660 |
| 20 | Old National Bank | 1,095 | 1.1% | 10.2% | 6.500% | −0.03 | $2,860 |
| 21 | DHI Mortgage Company, Ltd. | 1,069 | 1.0% | 18.4% | 5.500% | −0.98 | $2,000 |
| 22 | Union Savings Bank | 1,038 | 1.0% | 3.2% | 6.625% | +0.18 | $2,100 |
| 23 | Liberty | 1,014 | 1.0% | 3.2% | 6.625% | +0.20 | $2,820 |
| 24 | loanDepot.com, LLC | 998 | 1.0% | 8.9% | 6.875% | +0.56 | $4,600 |
| 25 | First Merchants Bank | 984 | 0.9% | 7.4% | 6.500% | +0.22 | $2,970 |
Largest lenders in Indiana by 2025 originations. Loans = home-purchase, refinance and cash-out originations (2025); share = share of those loans here; denial rate = home-purchase applications. *Medians for conventional home-purchase loans, shown with at least 20 loans; spread = APR minus the average prime offer rate at rate lock (percentage points); costs = total loan costs (section D).
Metro areas in Indiana
- Indianapolis-Carmel-Greenwood, IN · 27,455 purchases
- Cincinnati, OH-KY-IN · 24,068 purchases
- Louisville/Jefferson County, KY-IN · 15,756 purchases
- Lake County-Porter County-Jasper County, IN · 7,464 purchases
- Fort Wayne, IN · 5,373 purchases
- South Bend-Mishawaka, IN-MI · 2,870 purchases
- Evansville, IN · 2,996 purchases
- Lafayette-West Lafayette, IN · 2,107 purchases
- Elkhart-Goshen, IN · 1,808 purchases
- Terre Haute, IN · 1,411 purchases
- Bloomington, IN · 1,252 purchases
- Kokomo, IN · 1,113 purchases
- Muncie, IN · 990 purchases
- Columbus, IN · 917 purchases
- Michigan City-La Porte, IN · 800 purchases
Source: FFIEC/CFPB HMDA 2025 public LAR; FHFA and HUD 2026 loan limits. Methodology