DSCR Loans in St. Joseph County, Indiana
Reviewed by Dominick Prevete, Founder & CEO, National Loan Provider31+ years in real estate finance
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In 2025 HMDA data, 101 lenders made 461 investment-property loans in St. Joseph County, 4.2% of Indiana's total. Dominick Prevete arranges DSCR loans across St. Joseph 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 $230,000.
St. Joseph County investor market at a glance
| Statistic | St. Joseph County | Indiana | County rank |
|---|---|---|---|
| Investor loans | 461 | 10,971 | 4th of 21 |
| Reporting lenders | 101 | 497 | 5th of 21 |
| Loan volume | $369.1M | $2.81B | 3rd of 21 |
| Average loan | $801K | $256K | 2nd of 21 |
| Median loan | $135K | $145K | 14th of 21 |
| Purchases | 65.7% | 56.9% | 8th of 21 |
| Cash-out refinances | 17.4% | 19.4% | 9th of 21 |
| 2–4 unit properties | 12.6% | 16.6% | 13th of 21 |
| Top five lenders' share | 32.8% | 20.0% | 17th of 21 |
| Reported business-purpose | 82.0% | 71.5% | 3rd of 21 |
St. Joseph County: closed-end loans on 1–4 unit investment properties. St. Joseph County's rank is highest first, among Indiana's counties with at least 100 investor loans and 25 reporting lenders. Shares are of St. Joseph County's investor loans.
What stands out in St. Joseph County
The average investor loan in St. Joseph County was $801K, the 2nd-highest average of Indiana's 21 counties with published data (statewide: $256K).
Loans here run large. Dominick arranges DSCR loans from $75,000 up through jumbo balances.
By share of investor loans reported as business-purpose, St. Joseph County ranks 3rd-highest of Indiana's 21 counties with published data (statewide: 71.5%).
82.0% of investor loans here were reported as business-purpose, the only kind of financing Dominick arranges.
The five most active lenders wrote 32.8% of St. Joseph County's investor loans, the 5th-lowest share of Indiana's 21 counties with published data (statewide: 20.0%).
Lending here is spread across many lenders; the best fit depends on the deal more than the lender's size.
Does a DSCR loan pencil in St. Joseph County?
At HUD's fair market rent of $1,545 for a 3-bedroom in St. Joseph County, Indiana, a rental covers its full DSCR payment up to a purchase price of about $230,000, with 20% down at the 7.25% starting rate (November 2026). St. Joseph County's median home value is $192,800; at that price the payment is $1,271 a month, so the property would need $1,275 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) | $1,276 / $1,545 / $1,677 |
|---|---|
| Median home value (2020–2024 ACS 5-year) | $192,800 |
| Median property taxes and effective rate | $1,665 (0.86% of value) |
| Monthly payment on the median-value home: P&I, taxes, insurance | $1,271 |
| Rent needed to cover that payment | $1,275 |
| Coverage of a 3-bedroom at fair market rent | 1.22 |
| Highest price a 3-bedroom at fair market rent covers | about $230,000 |
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 St. Joseph County's numbers in the calculator below →
Who are the DSCR and investment-property lenders in St. Joseph County?
The most active investment-property lenders in St. Joseph County in 2025 HMDA data were Kiavi Funding, Inc.; First Federal Savings Bank; and CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP, out of 101 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 one that reported in St. Joseph County, and matches each file to the one most likely to fund it.
St. Joseph County's 2025 HMDA filings, closed-end loans on 1–4 unit investment properties only: 461 loans and $369.1M from 101 lenders. Kiavi Funding, Inc. led St. Joseph County with 88 loans, 19.1% of the county's total, and the average St. Joseph County loan of $801K compares with $256K across Indiana.
| Lender | Loans | Volume | Avg loan | Purchase share |
|---|---|---|---|---|
| Kiavi Funding, Inc. | 88 | $14.6M | $166K | 80.7% |
| First Federal Savings Bank | 20 | $4.1M | $204K | 50.0% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | 15 | $1.8M | $120K | 100.0% |
| 1st Source Bank | 14 | $4.1M | $296K | 78.6% |
| UNITED SHORE FINANCIAL SERVICES, LLC | 14 | $1.8M | $129K | 71.4% |
| Rocket Mortgage, LLC | 13 | $2.0M | $156K | 38.5% |
| RUOFF MORTGAGE COMPANY, INC. | 13 | $1.5M | $117K | 61.5% |
| NOTRE DAME FEDERAL CREDIT UNION CORPORATION | 12 | $4.9M | $405K | 66.7% |
| INDIANA UNIVERSITY CREDIT UNION | 12 | $1.5M | $128K | 16.7% |
| DEEPHAVEN MORTGAGE LLC | 11 | $1.5M | $133K | 27.3% |
| LOWER, LLC | 9 | $0.6M | $66K | 77.8% |
| CV3 FINANCIAL SERVICES, LLC | 8 | $1.0M | $120K | 87.5% |
| Loan Funder LLC | 8 | $0.9M | $113K | 62.5% |
| INTERRA CREDIT UNION | 8 | $0.7M | $85K | 50.0% |
| EVERWISE CREDIT UNION | 7 | $259.2M | $37029K | 57.1% |
| CROSSCOUNTRY MORTGAGE, INC. | 7 | $1.8M | $259K | 100.0% |
| Hometown Equity Mortgage, LLC | 7 | $1.4M | $201K | 57.1% |
| HOMEXPRESS MORTGAGE CORP. | 7 | $1.2M | $165K | 14.3% |
| NEWREZ LLC | 7 | $1.0M | $142K | 100.0% |
| BPL MORTGAGE TRUST, LLC | 7 | $0.8M | $121K | 42.9% |
| MOVEMENT MORTGAGE, LLC | 6 | $1.5M | $247K | 83.3% |
| Old National Bank | 6 | $0.9M | $155K | 66.7% |
| DOMINION FINANCIAL SERVICES, LLC | 6 | $0.9M | $153K | 66.7% |
| LIMA ONE CAPITAL, LLC | 6 | $0.8M | $140K | 83.3% |
| GUARANTEED RATE, INC. | 6 | $0.7M | $122K | 50.0% |
387 Indiana loans (3.5%) carry no county code in HMDA, so county figures sum to less than the state total.
Source for St. Joseph County: 2025 HMDA loan-level data from the CFPB/FFIEC Data Browser, retrieved October 31, 2026. How this data is built · St. Joseph County CSV, all 25 lenders
What St. Joseph County's table can't show you: fit. Short-term financing is exempt from HMDA, so St. Joseph County's fix-and-flip and bridge lenders barely appear among its 101 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 St. Joseph County, Indiana deal
Rent divided by the full monthly payment is the number a DSCR loan qualifies on. Enter a St. Joseph 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 — St. Joseph County's at-a-glance figures, its observations, its 25-lender table and the Quick Read's 101 lenders and 461 loans: 2025 HMDA loan-level data rolled up to St. Joseph County.
- St. Joseph County investor-lender dataset (CSV) — All 25 lenders in the St. Joseph County, Indiana table, ranked by loan count, with volume, average loan and purchase share for each.
- HUD FY2027 Fair Market Rents — St. Joseph 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 South Bend-Mishawaka, IN HUD Metro FMR Area.
- Census ACS 2020–2024 5-year, tables B25077 and B25103 — St. Joseph 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.