Today we’ll do a deep dive into the top mortgage lenders in New Jersey.
Using HMDA data, we can see which companies originated the most home loans in the state last year.
I break this down by both home purchase loans and refinance loans to determine who specializes in what.
After all, the home buying experience can differ quite a bit from the mortgage refinance process, the latter of which is reserved for existing homeowners.
And you may not have guessed who topped the list in 2024…
Top Mortgage Lenders in New Jersey (Overall)
| Ranking | Company Name | 2024 Loan Volume |
| 1. | CrossCountry | $2.9 billion |
| 2. | UWM | $2.7 billion |
| 3. | Rocket Mortgage | $2.7 billion |
| 4. | Rate | $1.6 billion |
| 5. | Chase | $1.3 billion |
| 6. | loanDepot | $1.2 billion |
| 7. | NJ Lenders Corp. | $1.1 billion |
| 8. | TD Bank | $1.1 billion |
| 9. | Wells Fargo | $986 million |
| 10. | Bank of America | $961 million |
Surprisingly, Cleveland-based CrossCountry Mortgage topped the list last year, funding $2.9 billion in home loans in New Jersey in 2024, per HMDA data from Richey May.
That was enough to edge out second place United Wholesale Mortgage and third place Rocket Mortgage, both of which mustered about $2.7 billion in the Garden State last year.
Chicago-based Rate (formerly known as Guaranteed Rate) took fourth and New York City-based Chase grabbed fifth, both with similar home loan origination volume.
The rest of the top 10 included loanDepot, hometown lender NJ Lenders Corp., TD Bank, Wells Fargo, and Bank of America.
They were the only Jersey-based lender in the top 10, though about 75% of their overall volume came from the state.
No big surprises on the list other than perhaps first place. Lots of banks made the list too, which isn’t so common these days now that nonbanks dominate the mortgage space.
Top New Jersey Mortgage Lenders (for Home Buyers)
| Ranking | Company Name | 2024 Loan Volume |
| 1. | CrossCountry | $2.5 billion |
| 2. | UWM | $1.9 billion |
| 3. | Rate | $1.5 billion |
| 4. | Rocket Mortgage | $1.3 billion |
| 5. | Chase | $1.0 billion |
| 6. | NJ Lenders Corp. | $973 million |
| 7. | loanDepot | $834 million |
| 8. | Wells Fargo | $810 million |
| 9. | TD Bank | $714 million |
| 10. | Bank of America | $692 million |
As always, when we filter out refinances and focus solely on home purchases, the list changes quite a bit.
However, CrossCountry managed to top this list as well $2.5 billion funded, and UWM and stayed in second while Rate leapfrogged Rocket for third.
Fifth went to Chase and local favorite NJ Lenders Corp. grabbed sixth, a good showing for the hometown lender.
Consumers still love to go to a big bank when buying a home, even if that bank is bureaucratic. And Chase is also quasi-local being from nearby NYC.
The rest of the top 10 included loanDepot, Wells Fargo, TD Bank, and Bank of America.
Again, a lot of big national brands, one local lender, and one almost New Jersey bank thanks to Chase.
Top New Jersey Refinance Lenders (for Existing Owners)
| Ranking | Company Name | 2024 Loan Volume |
| 1. | Rocket Mortgage | $1.3 billion |
| 2. | UWM | $812 million |
| 3. | loanDepot | $355 million |
| 4. | CrossCountry | $350 million |
| 5. | TD Bank | $313 million |
| 6. | Pennymac | $288 million |
| 7. | Freedom Mortgage | $287 million |
| 8. | PNC Bank | $259 million |
| 9. | Loan Funder | $233 million |
| 10. | Citizens Bank | $209 million |
As is often the case, when we only look at refinance transactions, Rocket Mortgage takes center stage.
And that was abundantly clear in New Jersey, with Rocket originating $1.3 billion in refinance loans.
They trounced second place UWM, which managed just $812 million, while third place loanDepot wasn’t even close.
CrossCountry took fourth with $350 million, followed by TD Bank with $313 million in fifth.
The five remaining lenders in the top 10 were Pennymac, refinance specialist Freedom Mortgage, PNC Bank, Loan Funder, and Citizens Bank.
Again, a pretty typical mix of big banks and household-name mortgage lenders.
Top Mortgage Lenders in Newark
| Ranking | Company Name | 2024 Loan Volume |
| 1. | CrossCountry | $761 million |
| 2. | UWM | $680 million |
| 3. | Rate | $638 million |
| 4. | Rocket Mortgage | $612 million |
| 5. | NJ Lenders Corp. | $419 million |
| 6. | Chase | $372 million |
| 7. | Wells Fargo | $308 million |
| 8. | Bank of America | $275 million |
| 9. | Loan Funder | $263 million |
| 10. | TD Bank | $246 million |
Are New Jersey’s Best Mortgage Lenders Listed Above?
Many highly-rated mortgage companies and banks are listed above, but they may not be #1 from a customer satisfaction standpoint.
There are many different ratings websites with varying criteria, so it’s difficult to determine who is really best.
But once you narrow down your home loan search to a handful of companies, you can research their ratings online.
Some large companies have mediocre reviews, while others excel despite serving a massive customer base.
At the end of the day, finding the right fit is key to your own personal satisfaction when it comes to getting a mortgage.
That might mean enlisting a New Jersey-based mortgage broker, visiting a local credit union, or working remotely with a big corporation.
There will never be a one-size-fits-all answer for everyone, but as long as you put in the time and obtain multiple quotes, you should be in good shape.
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