Spencer County
Indiana · FIPS 18147
According to CFPB HMDA 2024 application volume among U.S. counties, Spencer County ranks #1,717 of 3,210, and #72 of 92 in Indiana.
Mortgage lending activity in Spencer County, Indiana based on lender filings under the Home Mortgage Disclosure Act (HMDA). Data covers all applications received by HMDA-reporting institutions operating in this county during 2024. Why mortgages get denied walks the denial-reason codes that appear in books like this one.
Local mortgage market. Spencer County, Indiana saw 713 HMDA-reported mortgage applications in 2024. Lenders originated 416 of those loans and denied 104, producing a denial rate of 14.6% and an approval (origination) rate of 58.3%. The average loan amount was $170,863 at an average note rate of 6.67%, with applicants self-reporting average annual income of $36K. 75 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. This page is informational data reporting, not financial, legal, or mortgage advice.
Lender concentration in Spencer County
In Spencer County, lead originator German American Bank funded 13.0% of 416 originated loans, in the middle tercile of U.S. counties (~10.9-16.7% top-1). The top three reporters together hold 30.3% of the book; a local credit union or regional bank still sits beside the national wholesalers.
Counties With Similar Application Volume
Nationwide counties nearest to Spencer County's 713 HMDA applications.
Counties With a Similar Average Loan
Nationwide counties nearest to Spencer County's $170,863 average loan (deduped against volume peers).
Lenders active in Spencer County
German American Bank funded 54 of the 416 loans originated in Spencer County, 13.0% of the county. 75 lenders reported activity here.
| # | Lender | Originated | Market Share |
|---|---|---|---|
| 1 | German American Bank | 54 | 13.0% |
| 2 | Liberty Federal Credit Union | 40 | 9.6% |
| 3 | Gvc Mortgage, INC. | 32 | 7.7% |
| 4 | Old National Bank | 28 | 6.7% |
| 5 | Mortgage Masters of Indiana Inc | 25 | 6.0% |
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; does not constitute financial advice for Spencer County borrowers.
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 Spencer County 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. Data current as of 2026-08-10. HMDA figures are lender-filed application outcomes for a published reporting year - not creditworthiness scores, rate quotes, Loan Estimates, underwriting decisions, or mortgage advice.