Today we’ll have a look at the top mortgage lenders in Maryland based on their annual loan volume.
Like other states in the nation, it wasn’t a big shock that America’s largest lender also topped the charts in Maryland.
Yes, I’m referring to Rocket Mortgage, which had no problem beating out another 700 or so banks, mortgage lenders, and credit unions to take the #1 spot.
Collectively, these mortgage companies originated about $35 billion in home loans in the Old Line State last year.
Read on to see who else ranked in the top 10, including some local names.
Top Mortgage Lenders in Maryland (Overall)
| Ranking | Company Name | 2024 Loan Volume |
| 1. | Rocket Mortgage | $2.1 billion |
| 2. | UWM | $1.9 billion |
| 3. | First Home Mtg. | $1.4 billion |
| 4. | NVR Mortgage | $1.1 billion |
| 5. | NFM Lending | $765 million |
| 6. | Navy Federal | $748 million |
| 7. | Truist | $730 million |
| 8. | Freedom Mortgage | $730 million |
| 9. | Towne Bank | $590 million |
| 10. | Pennymac | $562 million |
As stated, Rocket Mortgage led the way in Maryland with an admirable $2.1 billion in home loan volume in 2024 (latest complete year), per HMDA data courtesy of Richey May.
That was more than enough to beat out second place United Wholesale Mortgage’s $1.9 billion.
Many consumers may not even recognize UWM as they don’t work directly with the public, but rather rely upon independent mortgage brokers.
In third was First Home Mortgage with $1.4 billion – the bank is also headquartered relatively close to Maryland in Charlotte, North Carolina.
The fourth slot belonged to a home builder’s mortgage lender, NVR Mortgage, which funded $1.1 billion, while NFM Mortgage grabbed fifth with $765 million.
The rest of top 10 included Navy FCU, Truist, Freedom Mortgage, Towne Bank, and Pennymac.
First Home Mortgage is a local mortgage lender based in Baltimore, MD.
Top Maryland Mortgage Lenders (for Home Buyers)
| Ranking | Company Name | 2024 Loan Volume |
| 1. | First Home Mtg. | $1.3 billion |
| 2. | Rocket Mortgage | $1.2 billion |
| 3. | UWM | $1.1 billion |
| 4. | NVR Mortgage | $1.1 billion |
| 5. | NFM Lending | $687 million |
| 6. | Navy Federal | $633 million |
| 7. | Truist | $568 million |
| 8. | Towne Bank | $538 million |
| 9. | Prosperity Home | $517 million |
| 10. | Chase | $445 million |
If we only take into account home purchase loans, First Home Mortgage holds top honors in the state with $1.3 billion funded.
It appeared to be just enough to prevent Michigan-based Rocket Mortgage from being #1 for home buyers in Maryland.
Third placed-UWM was also right on their heels with $1.1 billion in home purchase loans funded last year.
NVR Mortgage was also in the mix with $1.1 billion funded, followed by NFM Lending with a lighter $687 million.
The other five in the top 10 included Navy Federal, Truist, Towne Bank, Prosperity Home Mortgage, and Chase.
NVR Mortgage is actually a wholly-owned subsidiary of home builder NVR, Inc., the parent company of Ryan Homes, NVHomes, and Heartland Homes.
And Prosperity Home is a subsidiary of Berkshire Hathaway of Warren Buffett fame.
Top Maryland Refinance Lenders (for Existing Homeowners)
| Ranking | Company Name | 2024 Loan Volume |
| 1. | Rocket Mortgage | $927 million |
| 2. | UWM | $782 million |
| 3. | Freedom Mortgage | $428 million |
| 4. | Pennymac | $302 million |
| 5. | M&T Bank | $182 million |
| 6. | Newrez | $162 million |
| 7. | loanDepot | $154 million |
| 8. | Village Capital | $146 million |
| 9. | Truist | $142 million |
| 10. | Mr. Cooper | $138 million |
When we filter out the loans to home buyers, and focus solely on mortgage refinances to existing homeowners, Rocket Mortgage is easily the top lender in the state of Maryland.
The Detroit-based mortgage giant funded $927 million in refis there last year, edging out second place UWM, which was the nation’s top mortgage lender in 2024.
In third was VA loan specialist Freedom Mortgage, followed by CA-based Pennymac and NY-based M&T Bank.
Places six through 10 went to Newrez, loanDepot, Village Capital, Truist, and Mr. Cooper.
All in all, there weren’t a lot of shockers here, with big national brands taking all the top spots.
Perhaps the only surprise is that no Maryland-based mortgage lenders made the list.
Top Mortgage Lenders in Baltimore
| Ranking | Company Name | 2024 Loan Volume |
| 1. | Rocket Mortgage | $934 million |
| 2. | UWM | $878 million |
| 3. | First Home Mtg. | $687 million |
| 4. | NFM Lending | $477 million |
| 5. | NVR Mortgage | $413 million |
| 6. | Navy Federal | $323 million |
| 7. | Freedom Mortgage | $314 million |
| 8. | Primary Residential | $290 million |
| 9. | First National Bank of Penn | $260 million |
| 10. | Towne Bank | $258 million |
Who Is the Best Mortgage Lender in Maryland?
If we’re talking best, and not the biggest, as seen in the lists above, different names could take the cake.
While First Home Mortgage does have a stellar 4.98-star rating on Zillow from over 7,500 customer reviews, other Maryland-based mortgage companies like NFM Lending and Homespire Mortgage do too.
In fact, Homespire has a 4.98-star rating also, and NFM has a 4.96-star rating. Meanwhile, Rockville, MD-based Apex Home Loans holds a superior 4.99-star rating.
Similarly strong ratings can be found at Homeside Financial (now owned by Lower Mortgage) and Direct Mortgage Loans, LLC, both natives of Maryland.
So while big is one thing, best might be another. Or you might get lucky and find the best of both worlds in one lender.
Either way, take the time to look at more than one lender if you want to find the best fit and pricing for your home loan needs.
(photo: Lee Cannon)
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