DSCR Loans in Madison County, Indiana
Reviewed by Dominick Prevete, Founder & CEO, National Loan Provider31+ years in real estate finance
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In 2025 HMDA data, 85 lenders made 298 investment-property loans in Madison County, 2.7% of Indiana's total. Dominick Prevete arranges DSCR loans across Madison County, Indiana, qualified on the property's rent, not your tax returns. DSCR rental loans start from 7.25% (November 2026), and most close in 14 days. At HUD's fair market rent, a three-bedroom rental there covers its full payment up to a price of about $265,000.
Madison County investor market at a glance
| Statistic | Madison County | Indiana | County rank |
|---|---|---|---|
| Investor loans | 298 | 10,971 | 8th of 21 |
| Reporting lenders | 85 | 497 | 6th of 21 |
| Loan volume | $36.2M | $2.81B | 15th of 21 |
| Average loan | $121K | $256K | 19th of 21 |
| Median loan | $115K | $145K | 17th of 21 |
| Purchases | 41.3% | 56.9% | 21st of 21 |
| Cash-out refinances | 18.5% | 19.4% | 8th of 21 |
| 2–4 unit properties | 24.8% | 16.6% | 4th of 21 |
| Top five lenders' share | 39.9% | 20.0% | 9th of 21 |
| Reported business-purpose | 79.5% | 71.5% | 5th of 21 |
Madison County: closed-end loans on 1–4 unit investment properties. Madison County's rank is highest first, among Indiana's counties with at least 100 investor loans and 25 reporting lenders. Shares are of Madison County's investor loans.
What stands out in Madison County
41.3% of Madison County's investor loans were purchases, the lowest share of Indiana's 21 counties with published data (statewide: 56.9%).
Most investor loans here refinance property investors already own. A DSCR refinance qualifies on the property's current rent.
The average investor loan in Madison County was $121K, the 3rd-lowest average of Indiana's 21 counties with published data (statewide: $256K).
Loans here run small. DSCR loans Dominick arranges start at $75,000.
24.8% of Madison County's investor loans financed a 2–4 unit property, the 4th-highest share of Indiana's 21 counties with published data (statewide: 16.6%).
2–4 unit properties are a larger share here than in most of Indiana. A DSCR loan on a 2–4 unit property qualifies on the rent from all of its units.
Does a DSCR loan pencil in Madison County?
At HUD's fair market rent of $1,743 for a 3-bedroom in Madison County, Indiana, a rental covers its full DSCR payment up to a purchase price of about $265,000, with 20% down at the 7.25% starting rate (November 2026). Madison County's median home value is $161,300; at that price the payment is $1,047 a month, so the property would need $1,050 in rent to cover it.
At that price, the rent covers the full payment, which is the test a standard DSCR loan qualifies on.
| HUD fair market rent, 2 / 3 / 4 bedroom (FY2027) | $1,331 / $1,743 / $1,749 |
|---|---|
| Median home value (2020–2024 ACS 5-year) | $161,300 |
| Median property taxes and effective rate | $1,192 (0.74% of value) |
| Monthly payment on the median-value home: P&I, taxes, insurance | $1,047 |
| Rent needed to cover that payment | $1,050 |
| Coverage of a 3-bedroom at fair market rent | 1.67 |
| Highest price a 3-bedroom at fair market rent covers | about $265,000 |
| Highest price two 2-bedroom units at fair market rent cover | about $410,000 |
Fair market rent is HUD's 40th-percentile gross rent, including utilities; a property's appraised market rent can be higher or lower. Payment uses 20% down, a 30-year amortization at the published DSCR starting rate, the county's median effective property-tax rate and insurance at 0.50% of value. Purchase leverage goes up to 85% on qualifying files. This is an illustration, not a term sheet or an offer of credit.
Price your actual deal →Run Madison County's numbers in the calculator below →
Who are the DSCR and investment-property lenders in Madison County?
The most active investment-property lenders in Madison County in 2025 HMDA data were Kiavi Funding, Inc.; MM LENDING, LLC; and UNITED SHORE FINANCIAL SERVICES, LLC, out of 85 lenders that reported. HMDA doesn't flag which loans were DSCR loans, so this list mixes DSCR and conventional investment-property lenders. Dominick Prevete places DSCR loans across 100+ lenders, including two that reported in Madison County, and matches each file to the one most likely to fund it.
Madison County's 2025 HMDA filings, closed-end loans on 1–4 unit investment properties only: 298 loans and $36.2M from 85 lenders. Kiavi Funding, Inc. led Madison County with 41 loans, 13.8% of the county's total, and the average Madison County loan of $121K compares with $256K across Indiana.
| Lender | Loans | Volume | Avg loan | Purchase share |
|---|---|---|---|---|
| Kiavi Funding, Inc. | 41 | $5.6M | $136K | 39.0% |
| MM LENDING, LLC | 40 | $5.2M | $130K | 0.0% |
| UNITED SHORE FINANCIAL SERVICES, LLC | 15 | $1.7M | $112K | 53.3% |
| First Merchants Bank | 12 | $0.8M | $68K | 75.0% |
| Fairway Independent Mortgage Corporation | 11 | $1.0M | $92K | 63.6% |
| BPL MORTGAGE TRUST, LLC | 10 | $1.2M | $123K | 20.0% |
| INDIANA UNIVERSITY CREDIT UNION | 8 | $1.0M | $128K | 0.0% |
| CRANE | 7 | $1.2M | $169K | 0.0% |
| The Huntington National Bank | 7 | $0.7M | $106K | 57.1% |
| RUOFF MORTGAGE COMPANY, INC. | 7 | $0.7M | $101K | 14.3% |
| Loan Funder LLC | 6 | $1.0M | $168K | 50.0% |
| CALCON MUTUAL MORTGAGE LLC | 6 | $0.8M | $127K | 100.0% |
| Community First Bank of Indiana | 6 | $0.3M | $58K | 83.3% |
| GUARANTEED RATE, INC. | 5 | $0.8M | $159K | 40.0% |
| CV3 FINANCIAL SERVICES, LLC | 5 | $0.5M | $109K | 60.0% |
| Greenbox Loans, Inc. | 4 | $0.3M | $85K | 0.0% |
| KeyBank National Association | 4 | $0.3M | $68K | 75.0% |
| The Farmers Bank, Frankfort, Indiana | 3 | $0.6M | $212K | 66.7% |
| CROSSCOUNTRY MORTGAGE, INC. | 3 | $0.5M | $168K | 66.7% |
| DOMINION FINANCIAL SERVICES, LLC | 3 | $0.4M | $128K | 33.3% |
| HOMEXPRESS MORTGAGE CORP. | 3 | $0.4M | $128K | 0.0% |
| Hometown Equity Mortgage, LLC | 3 | $0.4M | $125K | 0.0% |
| A&D Mortgage LLC | 3 | $0.4M | $118K | 66.7% |
| MJW FINANCIAL LLC | 3 | $0.3M | $105K | 66.7% |
| Rocket Mortgage, LLC | 3 | $0.3M | $92K | 33.3% |
387 Indiana loans (3.5%) carry no county code in HMDA, so county figures sum to less than the state total.
Source for Madison County: 2025 HMDA loan-level data from the CFPB/FFIEC Data Browser, retrieved October 31, 2026. How this data is built · Madison County CSV, all 25 lenders
What Madison County's table can't show you: fit. Short-term financing is exempt from HMDA, so Madison County's fix-and-flip and bridge lenders barely appear among its 85 filers, and none of the 25 names above tells you whose guidelines match your deal, your entity, or your timeline. That's the job. Dominick Prevete structures your file and places it across 100+ lenders — including some on this list — so it lands with the one most likely to fund it.
Price your loan →National Loan Provider is an independent broker and maintains wholesale relationships with some listed lenders. Appearing in this table is not an endorsement or a recommendation.
Run the coverage test on your Madison County, Indiana deal
Rent divided by the full monthly payment is the number a DSCR loan qualifies on. Enter a Madison County, Indiana property's rent, loan, taxes and insurance to see where it lands.
Principal and interest on a thirty-year amortization, plus taxes, insurance and HOA.
Enter the rent, loan amount, rate, taxes and insurance to see the coverage ratio.
Sources
- CFPB / FFIEC HMDA Data Browser — Madison County's at-a-glance figures, its observations, its 25-lender table and the Quick Read's 85 lenders and 298 loans: 2025 HMDA loan-level data rolled up to Madison County.
- Madison County investor-lender dataset (CSV) — All 25 lenders in the Madison County, Indiana table, ranked by loan count, with volume, average loan and purchase share for each.
- HUD FY2027 Fair Market Rents — Madison County's 2-, 3- and 4-bedroom fair market rents in the rent math, and the 3-bedroom rent its highest-price figure uses: HUD's FY2027 figures for the Anderson, IN HUD Metro FMR Area.
- Census ACS 2020–2024 5-year, tables B25077 and B25103 — Madison County's median home value (B25077) and median property taxes paid (B25103) in the rent math, from the Census 2020–2024 ACS 5-year summary files.
- DSCR loan rates, Dominick Prevete — DSCR rental loans start from 7.25%, as of November 2026: the Instant Term Sheet's best-case scenario on the current rate sheets.