Compare Mortgage Lenders
Select two lenders to compare side by side using 2023 HMDA federal data: approval rates, denial rates, loan sizes, loan types, and geographic reach.
Key Metrics
| Metric | CBNA Year to | ROCKET MORTGAGE |
|---|---|---|
| Total Applications | 116,492 | 553,854 ▲ |
| Loans Originated | 55,183 | 361,071 |
| Approval Rate (higher is better) | 47.4% | 65.2% ✓ |
| Denial Rate (lower is better) | 26.6% | 14.9% ✓ |
| Avg Loan Amount | $258,951 | $284,179 |
| Avg Interest Rate (lower is better) | 8.690% | 7.025% ✓ |
| Avg Applicant Income | $41,000 | $38,000 |
| Applications Denied | 31,030 | 82,289 |
| Applications Withdrawn | 7,224 | 37,829 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | CBNA Year to | ROCKET MORTGAGE |
|---|---|---|
| Conventional | 113,365 (97.3%) | 399,766 (72.2%) |
| FHA | 2,262 (1.9%) | 111,827 (20.2%) |
| VA | 798 (0.7%) | 42,234 (7.6%) |
| USDA | 67 (0.1%) | 27 (0.0%) |
Loan Purpose Breakdown
| Purpose | CBNA Year to | ROCKET MORTGAGE |
|---|---|---|
| Home Purchase | 30,813 | 243,308 |
| Home Improvement | 29,502 | 4,864 |
| Other | 27,201 | 23,875 |
| Refinancing | 24,702 | 50,405 |
| Cash-out Refinancing | 4,241 | 230,620 |
Top States by Loan Volume
| State | Originated | Rank |
|---|---|---|
| Pennsylvania | 9,085 | #2 |
| New York | 8,689 | #3 |
| Massachusetts | 7,802 | #1 |
| New Jersey | 5,849 | #5 |
| Ohio | 3,755 | #11 |
| Michigan | 2,848 | #11 |
| Rhode Island | 2,702 | #1 |
| Connecticut | 2,430 | #4 |
| State | Originated | Rank |
|---|---|---|
| California | 37,412 | #2 |
| Florida | 29,670 | #2 |
| Texas | 24,479 | #2 |
| Michigan | 19,108 | #1 |
| Georgia | 19,055 | #1 |
| North Carolina | 16,145 | #2 |
| Ohio | 14,225 | #2 |
| Pennsylvania | 13,900 | #1 |
Summary
- 116,492 total applications · 55,183 originated
- Approval rate: 47.4%
- Denial rate: 26.6%
- Avg loan: $258,951
- Avg rate: 8.690%
- HQ: Providence, RI
- 553,854 total applications · 361,071 originated
- Approval rate: 65.2%
- Denial rate: 14.9%
- Avg loan: $284,179
- Avg rate: 7.025%
- HQ: DETROIT, MI
Methodology
Comparisons are drawn from the CFPB 2024 HMDA Snapshot National Loan-Level Dataset, published by the Consumer Financial Protection Bureau and distributed via the FFIEC. Every figure on this page comes from lenders' mandatory HMDA filings — not voluntary marketing claims.
Approval (origination) rate = originated ÷ total applications. Denial rate = denied ÷ total applications. Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes. Denial rates reflect a lender's applicant mix as much as its underwriting stance; compare alongside loan-type mix and geography before drawing conclusions.
Side-by-side comparisons are informational only and do not constitute financial, legal, or mortgage advice. Always obtain and compare written Loan Estimates before applying.