Now it’s time to take a look at the highest mortgage lenders in DC, the capital of the US.
In 2021, practically 800 mortgage corporations originated roughly $139 billion in dwelling 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 remainder. And as you could 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 Might.
They have 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 dwelling.
All the time good to see some homegrown lenders shake it up with the massive nationwide manufacturers.
Prime Mortgage Lenders in Washington DC (for Residence 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 Residence 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 give attention to dwelling 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 an enormous shock as dwelling consumers usually flip to banks over nonbank lenders for an necessary dwelling buy.
Nonetheless, Pennymac was a really shut second with $2.4 billion funded, adopted by McLean Mortgage with $1.9 billion.
Residence consumers additionally appear to love utilizing native choices because it in all probability 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 have been Chase, Caliber Residence Loans, Atlantic Coast Mortgage, U.S. Financial institution, and George Mason Mortgage.
All of them had surprisingly shut dwelling buy totals to 1 one other.
Prime Refinance Lenders in DC (for Current Householders)
| 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 trying to a refinance a mortgage? Effectively, that checklist was totally different too.
Like the general checklist, Rocket Mortgage was king with $7.1 billion funded. That was a very good chunk of their total quantity.
In second was Freedom Mortgage with $4.5 billion, often known as a VA mortgage specialist.
Pennymac took third with $4.1 billion, adopted carefully 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 speak about the most effective mortgage lenders within the District of Columbia primarily based on buyer evaluations.
As at all times, I flip to Zillow to take a look at buyer evaluations. 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 wonderful 4.99/5 rating from practically 3,000 buyer evaluations, which is mainly unbeatable.
Chevy Chase-based Forbright Financial institution has the second largest variety of evaluations (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 practically flawless. That’s from about 750 evaluations.
McLean-based Aurora Monetary has the same variety of evaluations however a 4.7/5 score, whereas Navy Federal Credit score Union has a 4.22/5 from simply over 100 evaluations.
There’s additionally Bethesda-based Mortgagestar, which has an ideal 5/5 score from over 200 evaluations 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.