Prime Mortgage Lenders in DC

Now it’s time to take a look at the highest mortgage lenders in DC, the capital of the USA.

In 2021, almost 800 mortgage corporations originated roughly $139 billion in residence loans in The District.

That was one of many greater totals for a state, regardless that the District of Columbia isn’t really a state

Anyway, there could be just one…prime mortgage lender to rule the remaining. And as you might have guessed, it was Rocket Mortgage.

Some native corporations made the top-10 lists as effectively. Learn on to see who.

Prime Mortgage Lenders in DC (General)

Rating Firm Identify 2021 Mortgage Quantity
1. Rocket Mortgage $8.4 billion
2. Pennymac $6.4 billion
3. Freedom Mortgage $5.5 billion
4. Truist $5.4 billion
5. Wells Fargo $5.1 billion
6. loanDepot $4.7 billion
7. Mr. Cooper $3.3 billion
8. McLean Mortgage $3.1 billion
9. Intercoastal Mortgage $3.1 billion
10. UWM $3.1 billion

In 2021, Rocket Mortgage led the District of Columbia with a strong $8.4 billion funded, per HMDA information from Richey May.

They had been trailed by Los Angeles-based Pennymac with $6.4 billion, which is a prime correspondent lender.

In third was Freedom Mortgage with a detailed $5.4 billion, adopted by Truist with $5.1 billion and Wells Fargo with $4.7 billion.

The underside half of the highest 10 included loanDepot, Mr. Cooper, McLean Mortgage, Intercoastal Mortgage, and United Wholesale Mortgage.

Each McLean Mortgage and Intercoastal Mortgage could be thought-about native corporations as each name Fairfax, Virginia residence.

At all times good to see some homegrown lenders shake it up with the large nationwide manufacturers.

Prime Mortgage Lenders in Washington DC (for Dwelling Patrons)

Rating Firm Identify 2021 Mortgage Quantity
1. Truist $2.5 billion
2. Pennymac $2.4 billion
3. McLean Mortgage $1.9 billion
4. Wells Fargo $1.8 billion
5. Intercoastal Mortgage $1.7 billion
6. Chase $1.4 billion
7. Caliber Dwelling Loans $1.4 billion
8. Atlantic Coast Mortgage $1.4 billion
9. U.S. Financial institution $1.4 billion
10. George Mason Mortgage $1.3 billion

If we deal with residence consumers, the checklist adjustments fairly a bit, each with new names and a brand new order.

In first was Truist with $2.5 billion funded, not a giant shock as residence consumers typically flip to banks over nonbank lenders for an vital residence buy.

Nevertheless, Pennymac was a really shut second with $2.4 billion funded, adopted by McLean Mortgage with $1.9 billion.

Dwelling consumers additionally appear to love utilizing native choices because it most likely provides them peace of thoughts.

In fourth was Wells Fargo with $1.8 billion, and Intercoastal Mortgage rounded out the highest 5 with $1.7 billion.

Others included within the prime 10 had been Chase, Caliber Dwelling Loans, Atlantic Coast Mortgage, U.S. Financial institution, and George Mason Mortgage.

All of them had surprisingly shut residence buy totals to at least one one other.

Prime Refinance Lenders in DC (for Current Owners)

Rating Firm Identify 2021 Mortgage Quantity
1. Rocket Mortgage $7.1 billion
2. Freedom Mortgage $4.5 billion
3. Pennymac $4.1 billion
4. loanDepot $4.0 billion
5. Wells Fargo $3.1 billion
6. Truist $2.8 billion
7. Mr. Cooper $2.5 billion
8. UWM $2.0 billion
9. Navy FCU $1.9 billion
10. Newrez $1.8 billion

What about present householders seeking to a refinance a mortgage? Nicely, that checklist was totally different too.

Like the general checklist, Rocket Mortgage was king with $7.1 billion funded. That was a superb chunk of their general quantity.

In second was Freedom Mortgage with $4.5 billion, generally known as a VA mortgage specialist.

Pennymac took third with $4.1 billion, adopted intently by loanDepot with $4 billion and Wells Fargo with $3.1 billion.

The remainder of the most effective included Truist, Mr. Cooper, United Wholesale Mortgage, Vienna, VA-based Navy FCU, and Newrez.

It’s not unusual for present householders to make use of out-of-state lenders for a refinance, which sums up this checklist.

The Finest Mortgage Lenders in Washington DC

Now let’s discuss the most effective mortgage lenders within the District of Columbia primarily based on buyer critiques.

As all the time, I flip to Zillow to take a look at buyer critiques. For DC, it’s a bit distinctive as not one of the lenders are literally in DC.

However they’re native corporations in close by states, together with Maryland and Virginia.

McLean Mortgage is available in with a superb 4.99/5 rating from almost 3,000 buyer critiques, which is mainly unbeatable.

Chevy Chase-based Forbright Financial institution has the second largest variety of critiques (about 1,500) and a 4.82/5 score. Fairly strong.

Then there’s Bethesda, Maryland’s Presidential Financial institution and its superior 4.99/5 score, which is clearly almost flawless. That’s from about 750 critiques.

McLean-based Aurora Monetary has an analogous variety of critiques however a 4.7/5 score, whereas Navy Federal Credit score Union has a 4.22/5 from simply over 100 critiques.

There’s additionally Bethesda-based Mortgagestar, which has an ideal 5/5 score from over 200 critiques and Alexandria, VA-based Potomac Belief Mortgage’s 4.91/5.

So loads of good choices for a house mortgage in The District. Don’t overlook to incorporate native mortgage brokers in your search as effectively.