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 | NEWREZ LLC | ROCKET MORTGAGE |
|---|---|---|
| Total Applications | 248,242 | 553,854 ▲ |
| Loans Originated | 52,121 | 361,071 |
| Approval Rate (higher is better) | 21.0% | 65.2% ✓ |
| Denial Rate (lower is better) | 11.5% ✓ | 14.9% |
| Avg Loan Amount | $328,825 | $284,179 |
| Avg Interest Rate (lower is better) | 6.987% ✓ | 7.025% |
| Avg Applicant Income | $39,000 | $38,000 |
| Applications Denied | 28,631 | 82,289 |
| Applications Withdrawn | 37,001 | 37,829 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | NEWREZ LLC | ROCKET MORTGAGE |
|---|---|---|
| Conventional | 150,684 (60.7%) | 399,766 (72.2%) |
| FHA | 57,012 (23.0%) | 111,827 (20.2%) |
| VA | 37,471 (15.1%) | 42,234 (7.6%) |
| USDA | 3,075 (1.2%) | 27 (0.0%) |
Loan Purpose Breakdown
| Purpose | NEWREZ LLC | ROCKET MORTGAGE |
|---|---|---|
| Home Purchase | 129,324 | 243,308 |
| Cash-out Refinancing | 85,870 | 230,620 |
| Refinancing | 32,788 | 50,405 |
| Home Improvement | 140 | 4,864 |
| Other | 120 | 23,875 |
Top States by Loan Volume
| 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
- 248,242 total applications · 52,121 originated
- Approval rate: 21.0%
- Denial rate: 11.5%
- Avg loan: $328,825
- Avg rate: 6.987%
- HQ: FORT WASHINGTON, PA
- 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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.