Great Lakes mortgage approval rate & lending review
Great Lakes decided 1,242 mortgage applications and funded 749 loans across the 616 counties Fat Boy Data covers, 2023–2025.
These are the decisions Great Lakes reported under the Home Mortgage Disclosure Act, not its advertised interest rates.
Great Lakes at a glance
Approval is 5.8 points below the 68.2% 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 | 81% | 140 / 172 | 86% | $225K | 120 |
| Home improvement loans | 59% | 419 / 705 | 100% | $65K | 419 |
| Cash-out refinance | 76% | 138 / 181 | 99% | $125K | 136 |
| Refinance | 56% | 29 / 52 | 100% | $125K | 29 |
| Investment property purchase | 52% | 23 / 44 | 83% | $145K | 19 |
| Investment cash-out refinance | 34% | 11 / 32 | 100% | $105K | 11 |
| Investment home improvement | 25% | 13 / 52 | 100% | $85K | 13 |
Great Lakes lending by state
| State | Approval | Typical loan | Decided | Loans made |
|---|---|---|---|---|
| Illinois | 61% | $65K | 944 | 553 |
| California | 75% | $115K | 130 | 97 |
| Arizona | 67% | $135K | 46 | 31 |
| Wisconsin | 56% | $45K | 45 | 25 |
| Indiana | 54% | $115K | 26 | 14 |
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 Great Lakes lends most
| County | Loan type | Approval | Decided | Loans made |
|---|---|---|---|---|
| Lake County, IL | Home improvement loans | 62% | 185 | 114 |
| Cook County, IL | Home improvement loans | 50% | 209 | 104 |
| Will County, IL | Home improvement loans | 60% | 81 | 49 |
| DuPage County, IL | Home improvement loans | 81% | 42 | 34 |
| McHenry County, IL | Home improvement loans | 54% | 54 | 29 |
The county markets where Great Lakes made the most loans. Each link opens that market with every lender ranked.
Questions about Great Lakes
What is Great Lakes's mortgage approval rate?
Great Lakes approved 62.4% of the 1,242 mortgage applications it decided across the 616 counties Fat Boy Data covers, 2023–2025, 5.8 points below the 68.2% national rate for the same mix of loan types.
How often do borrowers take the loan Great Lakes offers?
Borrowers accepted 97% of the loans Great Lakes approved, against 93% for all home improvement loan lenders nationally. A low take-up usually means the approved terms were not competitive.
What size loans does Great Lakes make?
The typical home improvement loan loan Great Lakes made was $65K; across all loan types its typical loan ran from $65K to $225K. HMDA reports amounts in $10,000 brackets, so these are midpoints.
Where does Great Lakes lend?
Great Lakes decided applications in 21 of the states Fat Boy Data covers, most of them in Illinois, California and Arizona.
Can I apply to Great Lakes directly?
Yes. Great Lakes is a bank or credit union with 25 branches in the FDIC and NCUA registries, and it takes mortgage applications directly.
Does this page show Great Lakes'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 Great Lakes treats applications, then get a rate quote from the lender.