The largest mortgage lender in the United States by applications in 2025 was Rocket Mortgage, with 601,267 home loan applications, 5.1% of the national total, followed by United Wholesale Mortgage (UWM) with 576,710 and Bank of America with 217,492 [1]. By the dollar amount of loans made, UWM led with $164.3 billion, ahead of Rocket ($116.2 billion) and JPMorgan Chase Bank ($66.3 billion) [1][3]. DataPorium data show lenders reported 11.77 million applications in 2025, 9.1% more than in 2024, in the first release of the 2025 data [1].
Who are the largest mortgage lenders in 2025?
The table ranks lenders by the number of home loan applications they reported for 2025, across all loan purposes (home purchase, refinance, home equity and other) and all loan types. It adds loans made, their total amount, the approval and denial rates and the average interest rate of the loans made [1].
| Rank | Lender | Parent (ticker) | Applications | Loans made | Amount of loans made | Denial rate | Average rate |
|---|---|---|---|---|---|---|---|
| 1 | Rocket Mortgage | RKT | 601,267 | 429,332 | $116.2B | 19.9% | 7.15% |
| 2 | United Wholesale Mortgage | UWMC | 576,710 | 422,120 | $164.3B | 13.9% | 6.44% |
| 3 | Bank of America | BAC | 217,492 | 88,530 | $37.3B | 44.7% | 6.10% |
| 4 | PennyMac Loan Services | PFSI | 193,807 | 100,816 | $35.4B | 18.5% | 6.73% |
| 5 | CrossCountry Mortgage | private | 190,471 | 125,099 | $49.1B | 5.7% | 6.79% |
| 6 | Newrez | RITM | 187,595 | 66,567 | $22.0B | 35.0% | 6.80% |
| 7 | Navy Federal Credit Union | credit union | 179,597 | 80,547 | $18.5B | 32.9% | 7.68% |
| 8 | Mortgage Research Center | private | 178,189 | 82,764 | $27.5B | 28.1% | 6.25% |
| 9 | Freedom Mortgage | private | 165,453 | 69,982 | $24.1B | 14.6% | 6.12% |
| 10 | 21st Mortgage | BRK-B | 157,783 | 28,058 | $3.3B | 71.8% | 10.26% |
| 11 | loanDepot | LDI | 155,259 | 91,730 | $25.7B | 26.7% | 6.81% |
| 12 | JPMorgan Chase Bank | JPM | 152,415 | 94,243 | $66.3B | 14.1% | 6.48% |
| 13 | U.S. Bank | U.S. Bancorp | 151,832 | 74,635 | $33.0B | 39.5% | 7.21% |
| 14 | New American Funding | private | 140,813 | 57,460 | $16.5B | 18.0% | 6.94% |
| 15 | Guaranteed Rate | private | 129,106 | 70,579 | $29.2B | 9.2% | 6.65% |
| 16 | Vanderbilt Mortgage and Finance | BRK-B | 121,666 | 19,996 | $4.3B | 67.8% | 8.47% |
| 17 | Guild Mortgage | GHLD | 120,556 | 86,111 | $26.9B | 4.7% | 6.55% |
| 18 | Citizens Bank | CFG | 119,620 | 68,902 | $21.0B | 32.5% | 7.65% |
| 19 | PNC Bank | PNC | 116,536 | 61,280 | $18.9B | 33.8% | 6.39% |
| 20 | Spring EQ | private | 108,788 | 32,174 | $3.5B | 61.9% | 9.42% |
| 21 | CMG Mortgage | private | 104,189 | 70,353 | $27.6B | 5.6% | 6.61% |
| 22 | DHI Mortgage | DHI | 102,267 | 69,159 | $23.4B | 16.4% | 4.95% |
| 23 | Fairway Independent Mortgage | private | 101,319 | 74,450 | $24.5B | 6.1% | 6.62% |
| 24 | AmeriSave Mortgage | private | 94,390 | 24,298 | $3.5B | 70.0% | 7.98% |
| 25 | Coastal Community Bank | not linked | 93,158 | 21,244 | $1.5B | 3.0% | 10.69% |
Source: DataPorium Real Estate Market, home loan applications reported by lenders for 2025 (first release) [1]. B = billion US dollars. "Private" means the data link the lender to no listed company; U.S. Bank's parent is written out because the data link no ticker to it.
The two Michigan lenders, Rocket Mortgage in Detroit and UWM in Pontiac, together received 10.0% of all applications in the country [1][2]. No other lender had more than 2% [1].
Which lenders made the most mortgage dollars?
Applications measure how many people applied; the amount of loans made measures how much was lent. Ranked by the dollar amount of loans made in 2025, the order changes [1]:
- United Wholesale Mortgage: $164.3 billion (422,120 loans, average $389,267)
- Rocket Mortgage: $116.2 billion (429,332 loans, average $270,571)
- JPMorgan Chase Bank: $66.3 billion (94,243 loans, average $703,373)
- CrossCountry Mortgage: $49.1 billion (125,099 loans, average $392,836)
- Wells Fargo Bank: $48.2 billion (41,562 loans, average $1,159,688)
- Bank of America: $37.3 billion (88,530 loans, average $421,196)
- PennyMac Loan Services: $35.4 billion (100,816 loans, average $351,057)
- U.S. Bank: $33.0 billion (74,635 loans, average $442,255)
- Guaranteed Rate: $29.2 billion (70,579 loans, average $413,553)
- CMG Mortgage: $27.6 billion (70,353 loans, average $391,866)
The big banks lend much larger amounts per loan. JPMorgan Chase Bank's average loan was $703,373 and Wells Fargo Bank's $1,159,688, against $270,571 at Rocket Mortgage [1][3]. Wells Fargo ranks fifth by dollars even though it received only 76,355 applications [1].
Rocket Mortgage received the most US home loan applications in 2025 (601,267), while United Wholesale Mortgage lent the most money ($164.3 billion).
Which big lenders deny the most mortgage applications?
The denial rate is the share of applications with a decision that the lender turned down; applications withdrawn by the borrower or closed as incomplete are left out [1]. Among the 25 largest lenders, it ranged from 3.0% to 71.8% in 2025 [1].
Highest denial rates
- 21st Mortgage: 71.8%, with an average loan of $118,330 at 10.26% [1].
- AmeriSave Mortgage: 70.0%, average loan $145,456 [1].
- Vanderbilt Mortgage and Finance: 67.8%, average loan $216,711 at 8.47% [1].
- Spring EQ: 61.9%, average loan $107,662 at 9.42% [1].
- Bank of America: 44.7%, the highest of the large banks, down from 48.1% in 2024 [1].
21st Mortgage and Vanderbilt are both linked to Berkshire Hathaway (BRK-B) in the data [1]. The lenders with the highest denial rates mostly make smaller loans at higher rates than the big home-purchase lenders, a sign of riskier or different kinds of lending; the data do not show the reason for each lender's rate.
Lowest denial rates
Coastal Community Bank (3.0%), Guild Mortgage (4.7%), CMG Mortgage (5.6%), CrossCountry Mortgage (5.7%) and Fairway Independent Mortgage (6.1%) denied the smallest shares [1]. Among the big banks, JPMorgan Chase Bank's denial rate was 14.1%, against 39.5% at U.S. Bank and 33.8% at PNC Bank [1][3].
Who leads home purchase and refinance lending?
Home purchase loans made up 5.37 million of the 11.77 million applications in 2025 (45.7%), and refinancing 1.85 million (15.7%) [1].
- Home purchase: UWM led with 300,524 applications and $93.6 billion in loans made, followed by Rocket Mortgage (178,987 applications), 21st Mortgage (153,920), CrossCountry Mortgage (124,702) and Vanderbilt (121,170) [1].
- Refinance: UWM led again with 155,281 applications (8.4% of all refinance applications), followed by Rocket Mortgage (108,240), Freedom Mortgage (84,256), PennyMac (61,943) and Newrez (50,216) [1]. The average refinance rate at UWM was 5.91%, against 6.51% for its home purchase loans [1].
Rocket Mortgage's applications rose 22.8% from 2024 and UWM's 17.3%, both faster than the market's 9.1% [1]. Rocket overtook UWM as the lender with the most applications: in 2024, UWM had 491,645 and Rocket 489,603 [1].
How the mortgage data work
- Source: the yearly Home Mortgage Disclosure Act (HMDA) reports that lenders file with federal regulators, published by the FFIEC and counted in DataPorium by lender, area, year, purpose and loan type [1][4].
- Applications = loans made + approved but not accepted + denied + withdrawn + closed as incomplete. Loans bought from other lenders are not applications and are not counted [1].
- 2025 is a first release: data for a year come out the next spring or summer and are revised later, so 2025 figures can still change [1].
- Lender names are the reporting companies. Listed parents are shown where DataPorium links them; a lender with several reporting companies is counted separately for each [1].
Home loans by lender for each state and county are on DataPorium's local pages, such as Michigan, and on the real estate market page [1][2]. Bank pages, such as JPMorgan Chase Bank, add each bank's mortgage lending [3][5].
Frequently asked questions
Who is the largest mortgage lender in the US?
By applications, Rocket Mortgage, with 601,267 in 2025; by the amount lent, United Wholesale Mortgage, with $164.3 billion in loans made [1].
Which bank makes the most mortgages?
Among banks, Bank of America received the most applications in 2025 (217,492), while JPMorgan Chase Bank made the most loans (94,243) and lent the most money ($66.3 billion) [1][3].
Which mortgage lenders deny the most applications?
Among the 25 largest lenders in 2025, 21st Mortgage (71.8%), AmeriSave (70.0%) and Vanderbilt Mortgage (67.8%) had the highest denial rates [1].
How many mortgage applications were there in 2025?
Lenders reported 11,766,670 home loan applications for 2025, including 5.37 million for home purchases and 1.85 million refinances [1].
Sources & References
- [1] DataPorium Real Estate Market (home loan applications, loans made and top lenders by area)
- [2] DataPorium Local Economy, Michigan (home loans by lender in the state)
- [3] DataPorium JPMorgan Chase Bank, National Association (bank financials and mortgage lending)
- [4] Federal Financial Institutions Examination Council, HMDA data publication (accessed October 13, 2026)
- [5] DataPorium Banking (US banks and credit unions)
