Compare the biggest U.S. mortgage lenders
Independent, ad-free reviews of 60 major lenders — ranked by 2025 lending volume from federal HMDA data, with what each is best for and how to weigh them. We don't take payment to rank anyone.
Lenders by 2025 volume
3,132,146 loans across this roster| # | Lender | Type | Loans (2025) | Avg. loan | Loan mix | Purchase | States | Median costs Median borrower-paid total loan costs (origination charges plus required and shopped services, from the Closing Disclosure) on the lender's 2025 conventional purchase loans — 30-year fixed, 20%+ down, at least 100 loans. A statistic about past borrowers, not a quote. | Approval* Loans originated ÷ (originated + denied) across all of the lender's 2025 applications. Withdrawn, incomplete and approved-but-not-accepted files are left out. It reflects channel and borrower mix, not how selective a lender is. | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Rocket Mortgage Nonbank lender Detroit, MI Online experience FHAVAJumbo | Nonbank lender | 429,332 | $270,571 | FHA 15% · VA 8% | 32% | 51 | $5,816 | 79.5% | Review |
| 2 | United Wholesale Mortgage Nonbank lender Pontiac, MI Working through a broker FHAVAUSDAJumbo | Nonbank lender | 422,120 | $389,267 | FHA 21% · VA 17% | 56% | 51 | $7,032 | 85.9% | Review |
| 3 | CrossCountry Mortgage Nonbank lender Cleveland, OH Purchase loans FHAVAUSDAJumbo | Nonbank lender | 125,099 | $392,836 | FHA 22% · VA 9% | 75% | 51 | $6,675 | 94.2% | Review |
| 4 | PennyMac Nonbank lender Westlake Village, CA Rate shoppers FHAVAUSDAJumbo | Nonbank lender | 100,816 | $351,057 | FHA 24% · VA 16% | 36% | 51 | $6,963 | 80.9% | Review |
| 5 | Chase Bank New York, NY Existing bank customers FHAVAJumbo | Bank | 94,243 | $703,373 | FHA 2% · VA 1% | 60% | 51 | $4,695 | 85.6% | Review |
| 6 | loanDepot Nonbank lender Irvine, CA Repeat refinancers FHAVAUSDAJumbo | Nonbank lender | 91,730 | $279,914 | FHA 25% · VA 9% | 44% | 51 | $6,137 | 72.8% | Review |
| 7 | Bank of America Bank Charlotte, NC Relationship discounts FHAVAJumbo | Bank | 88,530 | $421,196 | FHA 0% · VA 0% | 30% | 51 | $4,758 | 54.8% | Review |
| 8 | Guild Mortgage Nonbank lender San Diego, CA First-time buyers FHAVAUSDAJumbo | Nonbank lender | 86,111 | $312,013 | FHA 24% · VA 8% | 82% | 50 | $5,918 | 94.9% | Review |
| 9 | Veterans United Nonbank lender Columbia, MO VA loans FHAVAUSDA | Nonbank lender | 82,764 | $331,857 | FHA 3% · VA 92% | 83% | 51 | $3,783 | 71.6% | Review |
| 10 | Navy Federal Credit Union Credit union Vienna, VA Military & VA loans VA | Credit union | 80,547 | $230,211 | FHA 0% · VA 24% | 38% | 51 | $3,402 | 66.6% | Review |
| 11 | U.S. Bank Bank Minneapolis, MN Branch + bundle FHAVAUSDAJumbo | Bank | 74,635 | $442,255 | FHA 3% · VA 1% | 42% | 51 | $4,634 | 59.8% | Review |
| 12 | Fairway Independent Mortgage Nonbank lender Madison, WI Local loan officers FHAVAUSDAJumbo | Nonbank lender | 74,450 | $329,606 | FHA 22% · VA 9% | 86% | 51 | $5,779 | 93.9% | Review |
| 13 | Guaranteed Rate (Rate) Nonbank lender Chicago, IL Digital + local mix FHAVAUSDAJumbo | Nonbank lender | 70,579 | $413,553 | FHA 15% · VA 10% | 76% | 51 | $5,990 | 90.6% | Review |
| 14 | CMG Home Loans Nonbank lender San Ramon, CA Down-payment programs FHAVAUSDAJumbo | Nonbank lender | 70,353 | $391,866 | FHA 20% · VA 10% | 81% | 51 | $6,226 | 93.9% | Review |
| 15 | Freedom Mortgage Nonbank lender Boca Raton, FL VA & FHA refinances FHAVA | Nonbank lender | 69,982 | $344,722 | FHA 39% · VA 50% | 16% | 51 | $8,013 | 83.1% | Review |
| 16 | DHI Mortgage Nonbank lender Austin, TX D.R. Horton buyers FHAVAUSDA | Nonbank lender | 69,159 | $338,583 | FHA 46% · VA 17% | 100% | 36 | $2,983 | 83.5% | Review |
| 17 | Citizens Bank Providence, RI Northeast borrowers FHAVA | Bank | 68,902 | $304,487 | FHA 1% · VA 0% | 16% | 49 | $6,404 | 66.7% | Review |
| 18 | Newrez Nonbank lender Fort Washington, PA Non-QM & specialty FHAVAUSDAJumbo | Nonbank lender | 66,567 | $330,171 | FHA 16% · VA 21% | 40% | 51 | $6,316 | 64.5% | Review |
| 19 | PNC Bank Bank Pittsburgh, PA Low-down-payment buyers FHAVA | Bank | 61,280 | $308,099 | FHA 1% · VA 0% | 18% | 48 | $4,652 | 65.4% | Review |
| 20 | Movement Mortgage Nonbank lender Indian Land, SC Fast underwriting FHAVAUSDAJumbo | Nonbank lender | 57,781 | $343,654 | FHA 20% · VA 12% | 81% | 48 | $6,039 | 94.6% | Review |
| 21 | New American Funding Nonbank lender Tustin, CA Flexible credit FHAVAUSDAJumbo | Nonbank lender | 57,460 | $287,627 | FHA 32% · VA 8% | 70% | 51 | $6,224 | 81.7% | Review |
| 22 | Lennar Mortgage Nonbank lender Miami, FL Lennar buyers FHAVAUSDA | Nonbank lender | 56,951 | $350,112 | FHA 34% · VA 10% | 100% | 28 | $4,893 | 83.7% | Review |
| 23 | Mr. Cooper Nonbank lender Coppell, TX Servicing & refinancing FHAVA | Nonbank lender | 52,217 | $191,387 | FHA 10% · VA 6% | 11% | 51 | $5,313 | 80.8% | Review |
| 24 | Huntington Bank Bank Columbus, OH Midwest buyers FHAVAUSDA | Bank | 51,203 | $226,916 | FHA 4% · VA 1% | 29% | 45 | $4,283 | 67.6% | Review |
| 25 | Wells Fargo Bank San Francisco, CA Branch banking FHAVAJumbo | Bank | 41,562 | $1,159,688 | FHA 3% · VA 2% | 62% | 51 | $5,267 | 77.7% | Review |
| 26 | Truist Bank Charlotte, NC Southeast borrowers FHAVAUSDAJumbo | Bank | 41,059 | $344,327 | FHA 2% · VA 1% | 32% | 48 | $4,827 | 58% | Review |
| 27 | Fifth Third Bank Bank Cincinnati, OH Midwest & Southeast FHAVAUSDA | Bank | 39,534 | $202,176 | FHA 2% · VA 1% | 24% | 37 | $3,982 | 65.1% | Review |
| 28 | Union Home Mortgage Nonbank lender Strongsville, OH Purchase & first-time FHAVAUSDA | Nonbank lender | 37,767 | $303,166 | FHA 21% · VA 9% | 75% | 44 | $5,906 | 93.2% | Review |
| 29 | Regions Bank Bank Birmingham, AL Southern branches FHAVAUSDA | Bank | 30,269 | $262,916 | FHA 4% · VA 1% | 26% | 21 | $4,521 | 53.2% | Review |
| 30 | AmeriSave Mortgage Nonbank lender Atlanta, GA Online rate shopping FHAVA | Nonbank lender | 24,298 | $145,456 | FHA 20% · VA 4% | 3% | 50 | $7,562 | 29.3% | Review |
| 31 | Mutual of Omaha Mortgage Nonbank lender Omaha, NE Reverse mortgages FHAVAUSDA | Nonbank lender | 24,192 | $322,806 | FHA 43% · VA 11% | 33% | 50 | $5,787 | 76.7% | Review |
| 32 | TD Bank Bank Cherry Hill, NJ East Coast buyers | Bank | 23,499 | $379,992 | FHA 0% · VA 0% | 25% | 16 | $4,593 | 64.3% | Review |
| 33 | M&T Bank Bank Buffalo, NY Northeast buyers FHAVA | Bank | 23,446 | $315,265 | FHA 6% · VA 3% | 32% | 46 | $4,969 | 66% | Review |
| 34 | Third Federal Savings Bank Cleveland, OH Low-cost fixed loans | Bank | 21,298 | $160,091 | FHA 0% · VA 0% | 14% | 27 | $3,525 | 63.4% | Review |
| 35 | Prosperity Home Mortgage Nonbank lender Chantilly, VA Real-estate partnerships FHAVAUSDAJumbo | Nonbank lender | 20,869 | $384,552 | FHA 16% · VA 12% | 83% | 39 | $5,474 | 92.1% | Review |
| 36 | Pulte Mortgage Nonbank lender Englewood, CO PulteGroup buyers FHAVAUSDAJumbo | Nonbank lender | 18,825 | $432,861 | FHA 15% · VA 12% | 100% | 25 | $828 | 84.6% | Review |
| 37 | Homebridge Financial Nonbank lender Iselin, NJ Renovation loans FHAVA | Nonbank lender | 17,312 | $231,419 | FHA 8% · VA 6% | 16% | 51 | — | 81.1% | Review |
| 38 | BMO Bank Bank Chicago, IL Physician & jumbo loans FHA | Bank | 16,529 | $406,274 | FHA 1% · VA 0% | 24% | 34 | $5,070 | 58.7% | Review |
| 39 | Lakeview Loan Servicing Nonbank lender Coral Gables, FL Loan servicing FHAVA | Nonbank lender | 16,407 | $278,051 | FHA 31% · VA 19% | 7% | 51 | $4,568 | 31.3% | Review |
| 40 | NVR Mortgage Nonbank lender Reston, VA Ryan Homes buyers FHAVAUSDA | Nonbank lender | 16,403 | $368,374 | FHA 30% · VA 13% | 100% | 16 | $4,037 | 79.3% | Review |
| 41 | Supreme Lending Nonbank lender Dallas, TX Purchase & branches FHAVAUSDA | Nonbank lender | 16,190 | $302,044 | FHA 29% · VA 5% | 85% | 42 | $7,720 | 90.9% | Review |
| 42 | SoFi Bank San Francisco, CA Digital-first members FHAVA | Bank | 16,189 | $213,873 | FHA 5% · VA 3% | 22% | 51 | $4,773 | 76.3% | Review |
| 43 | Carrington Mortgage Nonbank lender Anaheim, CA Lower credit scores FHAVA | Nonbank lender | 15,089 | $238,404 | FHA 34% · VA 17% | 15% | 51 | $14,294 | 39.4% | Review |
| 44 | Better Nonbank lender New York, NY Low lender fees FHAVAJumbo | Nonbank lender | 14,567 | $305,040 | FHA 8% · VA 2% | 42% | 51 | $5,588 | 54.1% | Review |
| 45 | Planet Home Lending Nonbank lender Meriden, CT Renovation & government FHAVAUSDA | Nonbank lender | 14,469 | $315,646 | FHA 40% · VA 31% | 36% | 51 | $6,424 | 82.2% | Review |
| 46 | Zillow Home Loans Nonbank lender Overland Park, KS Shopping on Zillow FHAVA | Nonbank lender | 14,357 | $331,494 | FHA 18% · VA 8% | 99% | 41 | $5,617 | 92.5% | Review |
| 47 | SchoolsFirst Federal Credit Union Credit union Santa Ana, CA California educators | Credit union | 14,224 | $240,780 | FHA 0% · VA 0% | 12% | 1 | $5,220 | 88.1% | Review |
| 48 | Cardinal Financial Nonbank lender Charlotte, NC Government loans FHAVAUSDA | Nonbank lender | 12,657 | $271,554 | FHA 38% · VA 7% | 79% | 42 | $6,979 | 87.5% | Review |
| 49 | USAA Bank San Antonio, TX Military & VA loans VA | Bank | 11,693 | $349,420 | FHA 0% · VA 65% | 83% | 51 | $5,011 | 62.4% | Review |
| 50 | PenFed Credit Union Credit union McLean, VA VA & jumbo for members FHAVA | Credit union | 11,278 | $240,571 | FHA 3% · VA 15% | 25% | 48 | $5,554 | 53.7% | Review |
| 51 | Flagstar Bank Bank Hicksville, NY Jumbo & specialty FHAVAUSDA | Bank | 9,656 | $360,408 | FHA 18% · VA 6% | 64% | 43 | $5,221 | 64.1% | Review |
| 52 | Primary Residential Mortgage Nonbank lender Salt Lake City, UT Local branch service FHAVAUSDA | Nonbank lender | 9,570 | $299,356 | FHA 28% · VA 8% | 88% | 41 | $6,348 | 92.6% | Review |
| 53 | KeyBank Bank Cleveland, OH Relationship lending FHAVA | Bank | 8,717 | $314,993 | FHA 4% · VA 1% | 41% | 22 | $4,486 | 66.7% | Review |
| 54 | Finance of America Nonbank lender Plano, TX Reverse mortgages FHA | Nonbank lender | 8,696 | $348,197 | FHA 70% · VA 0% | 3% | 46 | — | 86.5% | Review |
| 55 | First Horizon Bank Bank Memphis, TN Southern & specialty FHAVAUSDA | Bank | 8,447 | $420,160 | FHA 4% · VA 2% | 53% | 13 | $4,994 | 74% | Review |
| 56 | NewDay USA Nonbank lender Fulton, MD VA cash-out VA | Nonbank lender | 8,395 | $281,336 | FHA 1% · VA 99% | 6% | 43 | — | 43.6% | Review |
| 57 | Alliant Credit Union Credit union Chicago, IL Digital member lending VA | Credit union | 8,359 | $311,551 | FHA 1% · VA 1% | 35% | 41 | $4,530 | 65.3% | Review |
| 58 | NBKC Bank Bank Kansas City, MO Low fees & VA FHAVA | Bank | 6,849 | $439,288 | FHA 4% · VA 22% | 65% | 48 | $3,710 | 83.6% | Review |
| 59 | Northpointe Bank Bank Grand Rapids, MI Nationwide bank lending FHAVA | Bank | 6,396 | $399,689 | FHA 13% · VA 5% | 67% | 37 | $5,642 | 89.5% | Review |
| 60 | Ally Bank Sandy, UT No-fee online loans | Bank | 268 | $2,292,052 | FHA 0% · VA 0% | 87% | 7 | $7,022 | 78.4% | Review |
No lender matches every filter. Try another program or state, or reset the filters.
Ranked by home loans originated in 2025 (federal HMDA data, FFIEC/CFPB). *Approval rate = originated ÷ (originated + denied); it reflects each lender's channel and borrower mix (wholesale, online and refi-heavy lenders run lower because many applications are rate shops that never close), not how selective they are. Reviews are editorial and independent — no lender pays to be listed or ranked, and we show no personalized rates.
Program filters use 2025 originations: at least 50 FHA or VA loans, 25 USDA loans, or 100+ jumbo purchase loans in our pricing sample — a lender with fewer may still offer the program. "States" counts states with 25+ loans. Median costs cover comparable conventional purchase loans only (— = fewer than 100). Source: HMDA data browser, FFIEC / CFPB, 2025 data pulled Oct 18, 2026 · how approval rates are calculated · how we compare what borrowers paid.
Compare two lenders
Pick any two of the 60 lenders to see their 2025 HMDA figures side by side.
| Measure | Rocket Mortgage | United Wholesale Mortgage |
|---|---|---|
| Lender type | Nonbank lender | Nonbank lender |
| Headquarters | Detroit, MI | Pontiac, MI |
| Home loans originated | 429,332 #1 by volume | 422,120 #2 by volume |
| Average loan | $270,571 | $389,267 |
| Loan mix | Conv 77% · FHA 15% · VA 8% | Conv 62% · FHA 21% · VA 17% |
| Purchase / refi / cash-out | 32% / 17% / 47% | 56% / 26% / 17% |
| States with 25+ loans | 51 | 51 |
| Approval rate* | 79.5% | 85.9% |
| Approval: conv / FHA / VA | 81.6% / 69.5% / 82.2% | 87.3% / 78.4% / 90.9% |
| Median rate, conventional† | 6.5% | 6.5% |
| APR vs. benchmark, conventional† | +0.01 pts | +0.02 pts |
| Median loan costs: conv / FHA / VA† | $5,816 / $11,293 / $8,600 | $7,032 / $13,255 / $5,776 |
| Best for | Online experience | Working through a broker |
These figures describe each lender's 2025 borrowers, not the rate or fees you'll be offered. *Approval rate as defined above. †Medians on comparable purchase loans (30-year fixed; conventional with 20%+ down); APR vs. benchmark = APR minus the average prime offer rate for the same week (negative = below the benchmark).
Before choosing a mortgage lender
Five checks that do more for your rate than any ranking.
- Get Loan Estimates from at least three lenders for the same loan amount, term, down payment and rate type, so they compare like for like.
- Shop within about two weeks. Credit scoring treats mortgage inquiries in a short window as one.
- Compare the APR and total cash to close, not just the rate — origination charges sit in section A of the Loan Estimate.
- Confirm the lender makes your loan type in your state — use the program and state filters above as a first screen.
- Ask about the rate lock, discount points and lender credits — how long the lock lasts and what a point buys. Our points calculator shows the break-even.
How to compare mortgage lender offers
Every lender must send the same three-page Loan Estimate within three business days of your application, so two offers can be compared line by line. Lenders do not price alike: on comparable 2025 conventional purchase loans (30-year fixed, 20% or more down), even the middle half of the 57 lenders with enough loans on this page ranged from $4,634 to $6,224 in median borrower-paid loan costs.
What to compare on each Loan Estimate
| Line | Where on the form | Why it matters |
|---|---|---|
| Interest rate and monthly principal & interest | Page 1, Loan Terms | Sets the payment you live with; check whether it can rise |
| Prepayment penalty, balloon payment | Page 1, Loan Terms | Either one is a reason to ask questions |
| Origination charges | Page 2, section A | The lender's own fees, and the most negotiable |
| Discount points or lender credits | Page 2, section A / J | Cash today traded against the rate |
| Services you can shop for | Page 2, section C | Title and settlement: you may pick cheaper providers |
| Total closing costs and cash to close | Page 2, sections D and J | What you bring to the table |
| APR, In 5 Years, Total Interest Percentage | Page 3, Comparisons | The cost of the loan with fees spread over time |
Ask every lender for the same loan type, term, down payment and lock length on the same day; rates move daily, so a Monday quote and a Thursday quote do not compare. A lower rate on page 1 means little if page 2 adds thousands in fees.
Discount points and lender credits
A discount point costs 1% of the loan and lowers your rate; it pays off only if you keep the loan past the break-even month, which the mortgage points calculator shows. A lender credit is the reverse: the lender covers part of your closing costs in exchange for a higher rate. Lean toward points if you will stay for many years, toward credits if cash is tight or you expect to move or refinance soon. In 2025, 53% of comparable conventional purchase loans carried discount points (median $2,400, including points the seller paid) and 33% received lender credits.
Locking your rate
A rate lock holds your quoted rate for a set period, often 30, 45 or 60 days. Longer locks usually cost a little more, so match the length to your realistic closing date with some buffer: a lock that expires before closing can mean an extension fee or a re-lock at that day's rate. Get the lock in writing with its expiration date, and ask whether a float-down is available if rates fall before you close.
Negotiating fees
Origination and other lender fees are the easiest to move: show a lender a competitor's lower Loan Estimate and ask it to match. Services you can shop for (title, settlement, pest inspection) can often be sourced for less. Recording fees, transfer taxes and prepaid escrow are not the lender's money and do not move. See which line items are which in closing costs explained.
Broker, bank, credit union or online lender
| Where you apply | Strength | Watch for |
|---|---|---|
| Mortgage broker | Shops several wholesale lenders for you; useful for unusual files | How the broker is paid, and which lenders are on its panel |
| Bank | Relationship discounts for existing customers; branches | Offers only its own loans |
| Credit union | Often low fees for members | Membership comes first |
| Online lender | Fast quotes and applications | Mostly digital service; you do the comparing |
The best offer can come from any of them, which is the case for getting at least one Loan Estimate from each channel within the same two weeks.
Mortgage lenders by state
Top lenders in your state, by HMDA volumeSee the most active mortgage lenders in your state — ranked from real federal lending data, with local rates and down-payment assistance.
Activity in a state shows where a lender lends; it doesn't guarantee every program is available there.
How we review lenders
We start from facts, not sales pitches. Every lender's lending volume and approval rate comes straight from federal HMDA data, and our "best for" framing reflects each lender's publicly known strengths — channel, loan mix and program menu. We take no payment to list or rank a lender and show no personalized rate quotes.
Use these reviews to build a shortlist, then do the one thing that actually saves money: get a Loan Estimate from three or more lenders in the same two-week window and compare the APRs. Start with today's average rates as a benchmark and run your scenario in the mortgage calculator.
Mortgage lender FAQ
Is it better to get a mortgage from a bank or a nonbank lender?
Neither type is cheaper by default. Nonbank lenders made 73% of the 2025 home loans across the 60 lenders on this page.
On comparable conventional purchase loans (30-year fixed, 20% or more down), the median bank's borrowers paid $4,766 in loan costs versus $5,990 at the median nonbank — but nonbank medians ranged from $828 to $14,294, so the individual lender matters far more than the category.
Banks can offer relationship discounts to existing customers; many nonbanks specialize in online applications or FHA and VA loans. Compare Loan Estimates either way.
Is a credit union a good place to get a mortgage?
Often, if you can join. The 4 credit unions on this page made 3.7% of the roster's 2025 loans, and their median borrower-paid costs on comparable conventional purchase loans were $4,875.
Most require membership first — through an employer, location, military service or a small donation to a partner organization — so check eligibility before you apply.
Does applying with several mortgage lenders hurt my credit?
Only slightly, if you shop in a short window. Credit-scoring models count multiple mortgage inquiries made close together as a single inquiry — within 45 days for newer FICO versions and 14 days for some older ones — so collect your Loan Estimates within about two weeks to be safe.
What is the difference between a mortgage lender and a mortgage broker?
A lender underwrites and funds your loan. A broker takes your application to several wholesale lenders and is paid by you or by the lender.
Some of the biggest names on this page, such as United Wholesale Mortgage, lend mainly through brokers, so you reach them through a broker rather than directly.
Does a higher approval rate mean a better lender?
No. The approval rate here is loans originated ÷ (originated + denied) for each lender's 2025 applications.
It mostly reflects the lender's channel and borrower mix — wholesale, online and refinance-heavy lenders run lower because many applications are rate shops that never close — not how easy it will be to get your loan approved or how much it will cost. See how approval rates are calculated.