PlainLender
2024 data HMDA 2024 disclosure official source

Elkhart County

7,729 mortgage applications, 17.2% denial rate. Verify FIPS 18039 with U.S. Census Bureau →

PlainLender home → About this data

Indiana · FIPS 18039

Local mortgage market. Elkhart County, Indiana saw 7,729 HMDA-reported mortgage applications in 2024. Lenders originated 4,517 of those loans and denied 1,328, producing a denial rate of 17.2% and an approval (origination) rate of 58.4%. The average loan amount was $170,232 at an average note rate of 7.26%, with applicants self-reporting average annual income of $36K. 187 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 4.7x, meaning typical borrowers took on mortgages of about 4.7 times their annual income. That ratio is a rough affordability signal: higher multiples imply tighter monthly budgets and greater exposure to rate or income shocks. See our methodology for how to read the denial rate against a local applicant pool.

FIPS 18039 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

7,729
Applications
4,517
Originated
17.2%
Denial Rate
58.4%
Approval Rate
$170,232
Avg Loan Amount
7.26%
Avg Interest Rate
$36K
Avg Applicant Income
4.7x
Loan-to-Income Ratio

Nearby Lenders in Elkhart County

Top HMDA-reporting lenders active in this county. Compare any two side-by-side for rates, denial rates, and loan mix.

# Lender Originated Market Share
1 Interra Credit Union 634 14.0%
2 Cardinal Financial Company, Li 326 7.2%
3 Lake City Bank 261 5.8%
4 Rocket Mortgage 247 5.5%
5 Ruoff Mortgage Company 187 4.1%
Compare Interra Credit Union vs Cardinal Financial Company, Li →

Frequently Asked Questions

How many mortgage applications were filed in Elkhart County?
In the 2024 HMDA reporting year, 7,729 mortgage applications were filed in Elkhart County, Indiana. Of these, 4,517 were originated (approved and funded), while 1,328 were denied, resulting in a denial rate of 17.2%.
What is the mortgage denial rate in Elkhart County?
The mortgage denial rate in Elkhart County is 17.2%. The approval (origination) rate is 58.4%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Elkhart County?
The average mortgage loan amount in Elkhart County is $170,232. The average interest rate is 7.258%. The average applicant income is $36K.
What is the loan-to-income ratio in Elkhart County?
The average loan-to-income ratio in Elkhart County is 4.7x, meaning borrowers took on loans averaging 4.7 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Elkhart County?
The top mortgage lenders in Elkhart County by origination volume are Interra Credit Union, Cardinal Financial Company, Li, Lake City Bank. In total, 187 lenders reported mortgage activity in this county.
Where does this mortgage data come from?
This data comes from the CFPB HMDA 2024 Snapshot National Loan-Level Dataset, a mandatory federal disclosure dataset covering all mortgage applications filed with HMDA-reporting institutions. County boundaries are identified by FIPS codes.

Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024. County FIPS codes per U.S. Census Bureau standards.

Data from FFIEC / CFPB HMDA Snapshot National Loan-Level Dataset (2024). Provided for informational purposes only.

Read our methodology - how this data is sourced, computed, and verified.

Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. This page draws directly on CFPB HMDA federal source data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.