Rocket Mortgage vs loanDepot
46.9% of Rocket Mortgage's 2025 loans were cash-out refinance loans, versus 14% nationally; 24.7% of loanDepot's 2025 loans were FHA loans, versus 13.2% nationally.
The short answer
Lean toward Rocket Mortgage if…
- you want lower upfront costs: its median total loan costs on those loans were about $321 lower.
- you're refinancing — refinances and cash-outs were 63.8% of its loans versus 33.5%.
- you're buying in Michigan, where it lends at 12× the other's volume.
Lean toward loanDepot if…
- you want the lower typical price: on conventional 30-year fixed purchase loans with at least 20% down, its borrowers' median APR ran 0.06 percentage points lower against the market benchmark (2025 HMDA).
- you're using an FHA loan — FHA was 24.7% of its 2025 loans versus 15.2%.
No meaningful difference on VA focus — there, the better quote decides.
Every point above comes from federal lending data, not from either lender. Your own rate depends on your credit, down payment and points, so get Loan Estimates from both on the same day.
Rocket Mortgage
Best for online experience
The largest U.S. retail mortgage lender, known for a fully digital application and fast, guided online closings.
429,332 loans in 2025 · avg $270,571
Full reviewloanDepot
Best for repeat refinancers
A large nonbank lender with a national retail footprint and a lifetime-guarantee refinance program for return customers.
91,730 loans in 2025 · avg $279,914
Full reviewRocket Mortgage vs loanDepot: side by side
| Rocket Mortgage | loanDepot | |
|---|---|---|
| Type | Nonbank lender | Nonbank lender |
| Headquarters | Detroit, MI | Irvine, CA |
| Best for | Online experience | Repeat refinancers |
| Loan types | Conventional · FHA · VA · Jumbo · Refi | Conventional · FHA · VA · Jumbo · Refi |
| Loans originated (2025) | 429,332 | 91,730 |
| Total lending (2025) | $116.2B | $25.7B |
| Average loan | $270,571 | $279,914 |
| Approval rate* | 79.5% | 72.8% |
| Conventional share | 76.9% | 65.7% |
| FHA share | 15.2% | 24.7% |
| VA share | 7.9% | 9.3% |
| Purchase share | 31.8% | 44.1% |
| Refinance + cash-out share | 63.8% | 33.5% |
| Approval: conventional* | 81.6% | 75.5% |
| Approval: FHA* | 69.5% | 65.1% |
| Approval: VA* | 82.2% | 78.7% |
| Second-lien / home-equity share | 24.0% | 26.4% |
| Manufactured homes share | 1.8% | 1.6% |
Source: 2025 HMDA data (FFIEC/CFPB). *Approval = originated ÷ (originated + denied); it mirrors each lender's channel and borrower mix, not how hard it is to qualify — see mortgage-approval figures.
What their borrowers actually paid
Medians from 2025 HMDA loan-level records for 30-year fixed home purchases, compared like for like. "Vs benchmark" is the APR minus the average prime offer rate for the week each rate was locked, so loans locked in different weeks compare fairly.
| Loan type | Rocket Mortgage | loanDepot | All lenders |
|---|---|---|---|
| Conventional | 6.50% · +0.01 vs benchmark · $5,816 costs (35,588 loans) | 6.50% · −0.05 vs benchmark · $6,137 costs (8,018 loans) | 6.50% · +0.02 · $5,476 |
| Jumbo | 6.50% · −0.06 vs benchmark · $9,947 costs (1,520 loans) | 6.625% · 0.00 vs benchmark · $9,524 costs (277 loans) | 6.625% · +0.00 · $10,251 |
| FHA | 6.25% · +0.38 vs benchmark · $11,293 costs (21,677 loans) | 5.99% · +0.21 vs benchmark · $12,225 costs (11,295 loans) | 6.25% · +0.42 · $11,291 |
| VA | 6.125% · −0.39 vs benchmark · $8,600 costs (8,229 loans) | 5.75% · −0.67 vs benchmark · $9,781 costs (3,628 loans) | 6.125% · −0.36 · $6,554 |
Source: 2025 HMDA loan-level data (FFIEC/CFPB), first-lien 30-year fixed purchases; costs are the borrower-paid total loan costs. Rates have moved since 2025: use these to compare the two lenders, not as today's quote — see national rate averages.
Rocket Mortgage or loanDepot: which fits your loan
Which of the two writes more of each loan type, from 2025 originations.
| Your situation | Does more of these | Evidence (share of loans) |
|---|---|---|
| Buying with an FHA loan | loanDepot | 15.2% vs 24.7% of loans (U.S. 13.2%) |
| Using a VA loan | No clear edge | 7.9% vs 9.3% of loans (U.S. 8.2%) |
| Buying a home (purchase) | No clear edge | 31.8% vs 44.1% of loans (U.S. 52.5%) |
| Refinancing to a lower rate | Rocket Mortgage | 16.9% vs 8.3% of loans (U.S. 15.3%) |
| Cash-out refinance | Rocket Mortgage | 46.9% vs 25.2% of loans (U.S. 14%) |
| Large or jumbo loan | No clear edge | avg loan $271k vs $280k |
Where each one is bigger
Rocket Mortgage reported more 2025 HMDA activity than loanDepot in every one of the 51 states where either is active. Rocket Mortgage's strongest relative edge is Michigan (12× the other's volume).
| State | Rocket Mortgage | loanDepot | Bigger here |
|---|---|---|---|
| California | 64,004 | 16,655 | Rocket Mortgage |
| Texas | 50,865 | 14,675 | Rocket Mortgage |
| Florida | 51,107 | 13,216 | Rocket Mortgage |
| Georgia | 32,386 | 7,342 | Rocket Mortgage |
| Michigan | 34,325 | 2,924 | Rocket Mortgage |
| North Carolina | 27,765 | 6,876 | Rocket Mortgage |
| Ohio | 25,761 | 5,706 | Rocket Mortgage |
| Pennsylvania | 25,282 | 4,111 | Rocket Mortgage |
The eight states where the two together are most active. HMDA records include applications and loans reported for 2025.
Approval by loan type
The widest gap is on conventional applications: Rocket Mortgage approved 81.6% of decisioned conventional applications in 2025 and loanDepot 75.5%. Their books also differ on home equity: second-lien loans were 24.0% of Rocket Mortgage's originations and 26.4% of loanDepot's.
Who each lender is for, and not for
Rocket Mortgage
Good fit: Rocket suits borrowers who value a polished, self-directed digital experience and want a large, well-capitalized lender that will likely keep servicing the loan after closing.
Think twice if: Its 10-K lists corporate offices and client support locations rather than a retail branch network, so local face-to-face help is limited.
loanDepot
Good fit: loanDepot suits borrowers who want a largely digital application with the option of a human loan officer, and who value the Lifetime Guarantee if they expect to refinance with the same lender down the road.
Think twice if: A data breach affected nearly 17 million people; in 2025 a court approved a class settlement with $25 million plus financial monitoring and security upgrades.
From our independent reviews of Rocket Mortgage and loanDepot.
How to check Rocket Mortgage and loanDepot before you choose
- Get both Loan Estimates the same day, with the same lock period and points, and compare section A (origination charges) and the APR.
- Check experience where they differ most: cash-out refinance loans. They were 46.9% of Rocket Mortgage's 2025 lending but 25.2% of loanDepot's. If that is your loan, ask loanDepot's loan officer how many they closed last year.
Benchmark both quotes against national rate averages and run the payment in our mortgage calculator.
Rocket Mortgage vs loanDepot: FAQ
Is Rocket Mortgage or loanDepot better for an FHA loan?
loanDepot does far more FHA lending: 24.7% of its 2025 loans were FHA, versus 15.2% at Rocket Mortgage. More FHA volume means more experience with FHA appraisals and mortgage insurance, but your rate still depends on the quote, so compare Loan Estimates.
Where does Rocket Mortgage lend more than loanDepot?
Rocket Mortgage reported more 2025 HMDA activity than loanDepot in every one of the 51 states where either is active. Rocket Mortgage's biggest relative edge is in Michigan.
Which is better for refinancing, Rocket Mortgage or loanDepot?
Rocket Mortgage is the more refinance-focused lender: refinances and cash-out refinances were 63.8% of Rocket Mortgage's 2025 loans and 33.5% of loanDepot's.
Independent comparison from public federal data; no lender paid for placement. Not personalized advice.
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