Approved Mortgage
Approved Mortgage is a privately held, Central Indiana-based direct mortgage banker originating residential, commercial, and small business loans via in-house underwriting, distributed across five states through six branches, an online application, and a realtor referral program.
- Company typePrivate
- Founded1992
- HeadquartersGreenwood, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Approved Mortgage does
Approved Mortgage, legally Winterwood Mortgage Group, is a privately held direct mortgage banker founded in 1992 and headquartered in Greenwood, Indiana. The company originates residential mortgage loans including conventional, jumbo, FHA, VA, reverse mortgages, portfolio loans, and construction loans for purchase, refinance, and construction transactions. It also originates commercial real estate loans (multifamily, office, retail, warehouse/flex) and small business loans (SBA, lines of credit, merchant services, factoring). Approved Mortgage operates as a direct lender with in-house underwriting that enables same-day approvals and a stated 19-day average loan closing time, supported by a website offering an online application and mortgage calculator but no disclosed AI or automation capabilities.
The company distributes through six physical branch offices (Greenwood headquarters, Franklin, Indianapolis, Lafayette, and Scottsburg in Indiana; North Miami in Florida), phone-based sales, a self-serve online application, and a realtor referral program. Revenue is generated from origination fees and interest on originated loans. The customer base spans individual homebuyers and homeowners, real estate investors, realtors, and small business owners, with multilingual licensed loan officer support in English, Spanish, Portuguese, Hindi, Punjabi, Arabic, and Urdu. The company holds NMLS registration (CO ID 122171), is licensed as a mortgage lender in Indiana, Kentucky, Michigan, Tennessee, and Florida, and is designated as an Equal Housing Lender with a BBB A+ rating. Approved Mortgage self-describes as Central Indiana's largest and oldest locally owned mortgage banker and claims over $6.5 billion in cumulative loans funded for Indiana families as of December 2020.
Approved Mortgage firmographics
Firmographics- Name
- Approved Mortgage
- Legal name
- Winterwood Mortgage Group, d/b/a Approved Mortgage
- Website
- https://approvedmortgage.com
- Company type
- Private
- Founded year
- 1992
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Approved Mortgage is a privately held, Central Indiana-based direct mortgage banker originating residential, commercial, and small business loans via in-house underwriting, distributed across five states through six branches, an online application, and a realtor referral program.
- Ownership category
- akta.pro rank
Approved Mortgage industry classification
Industry- Product category
- Residential Mortgage Lending
- NAICS
- Real Estate Credit (522292)
- SIC
- Mortgage Bankers & Loan Correspondents (6162)
- akta.pro primary industry
- Mortgage Pre-Approval / Prequalification & Lead-to-Loan Retail Origination (FSALAAAN)
- akta.pro secondary industries
- Purchase Mortgage Origination (Homebuyer Focused) (FSALAAAD), Cash-Out Refinance Origination (FSALAAAF), Reverse Mortgage Origination (HECM & Proprietary) (FSALAIAA), Multifamily Mortgage Origination (FSALADAB)
Keywords
Where Approved Mortgage is headquartered
LocationHeadquarters
- HQ city
- Greenwood
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
Approved Mortgage business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D
Revenue model
- Residential Mortgage Lending: Origination of residential mortgage loans including conventional, jumbo, FHA, VA, reverse mortgages and portfolio loans for purchase, refinance, and construction transactions. Revenue generated through origination fees and interest on loans originated.
- Commercial Real Estate Loans: Commercial real estate loans for multifamily, office, retail, warehouse/flex space properties. Revenue from origination fees and interest.
- Business Loans: Business lending products including SBA loans, lines of credit, credit card merchant services accounts, and factoring. Revenue from interest and fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Conventional Loans - Standard mortgage products for qualified borrowers |
| Transaction based/ take rate | Monthly | FHA Loans - Government-insured loans with lower down payment requirements |
| Transaction based/ take rate | Monthly | VA Loans - Zero down payment loans for eligible veterans and military |
| Transaction based/ take rate | Monthly | Jumbo Loans - Loans exceeding conforming loan limits |
| Transaction based/ take rate | Monthly | Reverse Mortgages - Loans for homeowners 62+ to convert home equity to cash |
| Transaction based/ take rate | Monthly | Portfolio Loans - Custom loan products outside standard guidelines |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Approved Mortgage product offering
Product offeringCore offering
Approved Mortgage is a direct mortgage banker originating residential mortgage loans (conventional, jumbo, FHA, VA, reverse, portfolio, construction) and commercial real estate and business loans for purchase, refinance, and construction transactions. The company operates with in-house underwriting enabling same-day approvals and an average 19-day loan closing time.
Product overview
Approved Mortgage is a direct lender offering a comprehensive suite of residential and commercial mortgage products. The core residential product line includes conventional, jumbo, FHA, VA, reverse mortgages, portfolio loans, and construction loans for purchase, refinance, and construction transactions. The company also provides commercial real estate loans for multifamily, office, retail, and warehouse/flex space, as well as business loans including SBA, lines of credit, credit card merchant services accounts, and factoring. The company operates as a direct lender with in-house underwriting enabling same-day approvals, supported by digital tools including a mortgage calculator and realtor services platform.
Differentiator
Problem solved
Functional benefit
Products and services
- Conventional Loans
- Jumbo Loans
- FHA Loans
- VA Loans
- Reverse Mortgages
- Portfolio Loans
- Construction Loans
- Commercial Real Estate Loans
- Business Loans
- Realtor Services
Quantifiable outcome
- 19-day average loan closing time
- +2 more outcomes
Companies that use Approved Mortgage
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles3 records
Approved Mortgage technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Approved Mortgage partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor.
- Bailey & Wood Mortgage LenderminorPartnership with Bailey & Wood Mortgage Lender to provide 250 Christmas Day meals to Franciscan Health COVID staff. Each meal was prepared by Market District in Carmel, Indiana and delivered to hospital workers.
- Absolute Lending LogisticsminorPartnership with Absolute Lending Logistics to support local community during COVID-19 pandemic. Companies collaborated to purchase meals from local restaurant Oaken Barrel and deliver to frontline healthcare workers at Saint Francis South-Cancer Center and Hospital.
Scale indicators8 records
Recent moves8 records
Expansion highlights7 records
Approved Mortgage competitors and assessment
Company assessmentBroad incumbents
- Rocket Mortgage: Rocket Mortgage is the largest U.S. retail mortgage lender and a direct-lender competitor. It competes head-to-head with Approved Mortgage on speed, in-house underwriting, and digital direct-to-consumer origination, but at vastly greater national scale.
- Caliber Home Loans: Caliber is a large non-bank mortgage originator and servicer with retail, wholesale, and correspondent channels. Comparable to Approved Mortgage on retail origination breadth and product mix, with added servicing portfolio that provides counter-cyclical revenue.
- United Wholesale Mortgage (UWM): UWM is the largest U.S. wholesale mortgage lender and a major force in broker and TPO channels. It competes indirectly with Approved Mortgage through broker relationships and increasingly in retail, and represents the benchmark for direct-lender efficiency at scale.
- NewRez (New Residential Mortgage): NewRez is a large non-bank mortgage lender and servicer with retail, wholesale, and correspondent channels offering conventional and government loans. Comparable to Approved Mortgage on full-spectrum retail origination but with the scale advantages of a public-company parent.
Direct peers
- Guild Mortgage: Guild Mortgage is a privately held mortgage lender with a multi-state retail branch network and a full suite of purchase and refinance products. Comparable to Approved Mortgage on retail branch-led origination, product breadth, and private mid-market positioning.
- Guaranteed Rate: Guaranteed Rate is a large retail mortgage lender combining digital direct origination with physical branch presence across multiple states. Directly comparable to Approved Mortgage on the hybrid digital-plus-branch retail model, though at meaningfully greater national scale.
- Fairway Independent Mortgage Corporation: Fairway is a privately held, regional-to-national mortgage banker with a multi-state branch model, in-house processing, and broad product mix (conventional, government, jumbo, reverse). Highly comparable to Approved Mortgage in branch-led, relationship-driven origination across the Midwest and Sun Belt.
- loanDepot: loanDepot is a national direct-to-consumer mortgage lender offering conventional, FHA, VA, jumbo, and HELOC products. It is directly comparable to Approved Mortgage on product mix and DTC/branch distribution, but operates at materially larger scale.
- Paramount Residential Mortgage Group (PRMG): PRMG is a privately held, multi-channel retail and wholesale mortgage lender with a broad product set and multi-state licensing. Directly comparable to Approved Mortgage on private mid-market positioning, product diversity, and retail/wholesale hybrid model.
Regional players
- DHI Mortgage: DHI Mortgage is the captive mortgage arm of D.R. Horton, the largest U.S. homebuilder, operating through builder branch offices. While builder-affiliated rather than open-market retail, it competes for the same Indiana new-construction purchase volume and represents an adjacent channel peer.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Approved Mortgage social profiles
Digital presenceApproved Mortgage financial estimates
Financial estimateRevenue estimate
Valuation estimate
Approved Mortgage leadership team
Management profileNumber of profiles
Profiles6 records
Approved Mortgage funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Approved Mortgage M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Approved Mortgage
What does Approved Mortgage do?
Approved Mortgage is a direct mortgage banker originating residential mortgage loans (conventional, jumbo, FHA, VA, reverse, portfolio, construction) and commercial real estate and business loans for purchase, refinance, and construction transactions. The company operates with in-house underwriting enabling same-day approvals and an average 19-day loan closing time.
Is Approved Mortgage a public or private company?
Approved Mortgage is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Approved Mortgage founded?
Approved Mortgage was founded in 1992. It employs 11 to 50 people.
Where is Approved Mortgage based?
Approved Mortgage is headquartered in Greenwood, United States, in the North America region.
How does Approved Mortgage make money?
Three revenue lines are on record. Residential Mortgage Lending is the primary driver. The others are commercial Real Estate Loans and business Loans.
Who are Approved Mortgage's main competitors?
Broad incumbents on record are Rocket Mortgage, Caliber Home Loans, United Wholesale Mortgage (UWM) and NewRez (New Residential Mortgage). Direct peers are Guild Mortgage, Guaranteed Rate, Fairway Independent Mortgage Corporation, loanDepot and Paramount Residential Mortgage Group (PRMG). DHI Mortgage is listed as a regional player.
Does Approved Mortgage have an API?
No public API is recorded for Approved Mortgage.
What industry is Approved Mortgage in?
Approved Mortgage's product category is Residential Mortgage Lending. Its primary akta.pro industry code is FSALAAAN, Mortgage Pre-Approval / Prequalification & Lead-to-Loan Retail Origination, with a secondary code of FSALAAAD, Purchase Mortgage Origination (Homebuyer Focused). Its NAICS code is 522292 and its SIC code is 6162.