Today we’ll take a hard look at the top mortgage lenders in Tennessee by loan volume.
Last year, more than 1,000 mortgage companies battled it out for first place, but only one could claim the top spot.
Collectively, these lenders funded about $102 billion in mortgages in The Volunteer State, which was likely an annual record.
Despite being located a couple states due north of Tennessee, United Wholesale Mortgage was the top lender in the state.
Read on to see who else made the top 10 list.
Top Mortgage Lenders in Tennessee (Overall)
| Ranking | Company Name | 2024 Loan Volume |
| 1. | UWM | $2.6 billion |
| 2. | Rocket Mortgage | $2.2 billion |
| 3. | CMG Mortgage | $1.2 billion |
| 4. | Mtg Investors Group | $1.2 billion |
| 5. | FirstBank | $973 million |
| 6. | Veterans United | $937 million |
| 7. | Movement | $913 million |
| 8. | Pinnacle Bank | $701 million |
| 9. | First Community Mortgage | $681 million |
| 10. | First Tennessee Bank | $619 million |
United Wholesale Mortgage came in first with $2.6 billion in home loan volume in the state of Tennessee during 2024 (latest complete year), per HMDA data from Richey May.
The Pontiac, MI-based company had no problem beating out the competition, with second place Rocket Mortgage only able to muster $2.2 billion in annual loan volume.
They were trailed by CMG Mortgage with $1.2 billion and Knoxville, Tennessee’s own Mortgage Investors Group (MIG) with a similar $1.2 billion.
Fifth went to FirstBank (Real Genius Mortgage), followed by Veterans United Home Loans, Movement Mortgage, and Nashville-based Pinnacle Bank.
They were followed by Murfreesboro, Tennessee-based First Community Mortgage and Memphis-based First Tennessee Bank.
Overall, four of the top 10 mortgage companies in Tennessee are based in the state, which is a solid showing for the local lender.
It seems Tennesseans prefer to keep it close to home when taking out a home loan.
Top Tennessee Mortgage Lenders (for Home Buyers)
| Ranking | Company Name | 2024 Loan Volume |
| 1. | UWM | $1.6 billion |
| 2. | CMG Mortgage | $1.1 billion |
| 3. | Mortgage Investors Group | $1.1 billion |
| 4. | Rocket Mortgage | $905 million |
| 5. | Movement | $823 million |
| 6. | Veterans United | $794 million |
| 7. | FirstBank | $735 million |
| 8. | DHI Mortgage | $596 million |
| 9. | First Community Mortgage | $561 million |
| 10. | Pinnacle Bank | $557 million |
When we focus on home buyers only, UWM once again took the cake with $1.6 billion funded.
Home buyers tend to gravitate toward local companies because it’s such a big financial moment, but UWM is the nation’s largest mortgage lender and hard to beat right now.
In second was CMG Mortgage with $1.1 billion, followed by locals MIG also with $1.1 billion funded.
Fourth went to Rocket Mortgage, fifth to Movement Mortgage, and sixth to VA specialists Veterans United Home Loans.
The rest of the best included FirstBank, D.R. Horton’s DHI Mortgage, First Community Mortgage, and Pinnacle Bank.
This time, three of the top 10 were actually headquartered in the state of Tennessee.
Top Refinance Lenders in Tennessee
| Ranking | Company Name | 2024 Loan Volume |
| 1. | Rocket Mortgage | $1.3 billion |
| 2. | UWM | $1.0 billion |
| 3. | Freedom Mortgage | $427 million |
| 4. | Pennymac | $329 million |
| 5. | Regions Bank | $2o8 million |
| 6. | loanDepot | $194 million |
| 7. | FirstBank | $165 million |
| 8. | Mr. Cooper | $148 million |
| 9. | Veterans United | $143 million |
| 10. | Newrez | $133 million |
When we turn our attention to mortgage refinances, reserved for existing homeowners, Rocket Mortgage really blasts off.
The company funded $1.3 billion in refis in the state last year, easily beating out second placed UWM’s $1.0 billion and Freedom Mortgage‘s $427 million.
In fourth was Pennymac, a SoCal based company that acts mostly as a correspondent lender, meaning their product is resold by smaller banks and credit unions.
Taking fifth was Alabama’s Regions Bank, followed by loanDepot, FirstBank, Mr. Cooper (now owned by Rocket), Veterans United, and Newrez.
When it came to refis, no Tennessee-based company made the top-10 list. This isn’t a huge surprise since they’re rate/price-driven as opposed to relationship-driven.
Top Mortgage Lenders in Nashville
| Ranking | Company Name | 2024 Loan Volume |
| 1. | UWM | $1.2 billion |
| 2. | Rocket Mortgage | $788 million |
| 3. | CMG Mortgage | $715 million |
| 4. | FirstBank | $541 million |
| 5. | Legacy Home Loans | $529 million |
| 6. | Pinnacle Bank | $411 million |
| 7. | Wilson B&T | $368 million |
| 8. | Chase | $364 million |
| 9. | Movement | $338 million |
| 10. | CrossCountry | $326 million |
Top Mortgage Lenders in Memphis
| Ranking | Company Name | 2024 Loan Volume |
| 1. | Community Mortgage Corp. | $214 million |
| 2. | Rocket Mortgage | $196 million |
| 3. | UWM | $145 million |
| 4. | Pinnacle Bank | $137 million |
| 5. | Cadence Bank | $126 million |
| 6. | Patriot Bank | $120 million |
| 7. | First Tennessee Bank | $104 million |
| 8. | MIG | $94 million |
| 9. | CrossCountry | $71 million |
| 10. | Veterans United | $68 million |
The Best Tennessee Mortgage Lenders
When we turn our attention to customer reviews instead of loan volume, we can get a better guess regarding who the best Tennessee mortgage lenders are.
After all, a big company can originate a lot of loans and still have mediocre customer service.
So I headed to Zillow to check out the reviews for Tennessee-based mortgage lenders.
The only one from the list above was Mortgage Investors Group (MIG). And they had a solid 4.97/5 rating from over 2,700 reviews.
Others not on the lists above included Acopia Home Loans (4.95/5), Churchill Mortgage (4.96/5), Accurate Mortgage Group (4.98/5), and Bank of Tennessee (4.99/5).
If you want to stay local, there are plenty of highly-rated mortgage lenders in the state.
But if you don’t, many of the companies in the lists above also come with stellar reviews.
As always, take the time to do your research and comparison shop to ensure you find the right fit for your situation.
(photo: andrew prickett)
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