1st Source Bank mortgage approval rate & lending review
1st Source Bank decided 4,213 mortgage applications and funded 3,167 loans across the 616 counties Fat Boy Data covers, 2023–2025.
These are the decisions 1st Source Bank reported under the Home Mortgage Disclosure Act, not its advertised interest rates.
1st Source Bank at a glance
Approval is 8.3 points above the 74.6% national rate for the same mix of loan types.
Approval rates by loan type
| Loan type | Approval | Approved | Taken up | Typical loan | Loans made |
|---|---|---|---|---|---|
| Mortgage lenders | 91% | 967 / 1,061 | 92% | $195K | 886 |
| Home improvement loans | 72% | 896 / 1,236 | 88% | $35K | 787 |
| Cash-out refinance | 77% | 314 / 407 | 88% | $125K | 275 |
| Refinance | 88% | 1,151 / 1,315 | 94% | $65K | 1,077 |
| Investment property purchase | 91% | 108 / 119 | 89% | $145K | 96 |
| Investment home improvement | 58% | 18 / 31 | 89% | $195K | 16 |
1st Source Bank lending by state
| State | Approval | Typical loan | Decided | Loans made |
|---|---|---|---|---|
| Indiana | 83% | $65K | 3,798 | 2,857 |
| Michigan | 81% | $55K | 330 | 244 |
| Florida | 84% | $405K | 62 | 46 |
Fat Boy Data covers 616 counties, 79.6% of the US population, not every county in every state. States with fewer than 20 decisions are not listed.Methodology.
Where 1st Source Bank lends most
| County | Loan type | Approval | Decided | Loans made |
|---|---|---|---|---|
| St. Joseph County, IN | Refinance | 88% | 555 | 454 |
| St. Joseph County, IN | Mortgage lenders | 92% | 484 | 413 |
| St. Joseph County, IN | Home improvement loans | 74% | 519 | 338 |
| Elkhart County, IN | Refinance | 86% | 214 | 175 |
| Allen County, IN | Refinance | 89% | 159 | 130 |
| Elkhart County, IN | Home improvement loans | 65% | 203 | 120 |
| St. Joseph County, IN | Cash-out refinance | 79% | 159 | 108 |
| Porter County, IN | Refinance | 89% | 119 | 102 |
| Elkhart County, IN | Mortgage lenders | 93% | 118 | 95 |
| LaPorte County, IN | Mortgage lenders | 88% | 107 | 88 |
| Allen County, IN | Home improvement loans | 72% | 137 | 86 |
| Allen County, IN | Mortgage lenders | 88% | 104 | 82 |
The county markets where 1st Source Bank made the most loans. Each link opens that market with every lender ranked.
Questions about 1st Source Bank
What is 1st Source Bank's mortgage approval rate?
1st Source Bank approved 82.8% of the 4,213 mortgage applications it decided across the 616 counties Fat Boy Data covers, 2023–2025, 8.3 points above the 74.6% national rate for the same mix of loan types.
How often do borrowers take the loan 1st Source Bank offers?
Borrowers accepted 91% of the loans 1st Source Bank approved, against 93% for all mortgage refinance lenders nationally. A low take-up usually means the approved terms were not competitive.
What size loans does 1st Source Bank make?
The typical mortgage refinance loan 1st Source Bank made was $65K; across all loan types its typical loan ran from $35K to $195K. HMDA reports amounts in $10,000 brackets, so these are midpoints.
Where does 1st Source Bank lend?
1st Source Bank decided applications in 5 of the states Fat Boy Data covers, most of them in Indiana, Michigan and Florida.
Can I apply to 1st Source Bank directly?
Yes. 1st Source Bank is a bank or credit union with 81 branches in the FDIC and NCUA registries, and it takes mortgage applications directly.
Does this page show 1st Source Bank's interest rates?
No. HMDA filings record who applied, who was approved and how much was borrowed, not the rate offered. Use the approval rate and take-up here to judge how 1st Source Bank treats applications, then get a rate quote from the lender.