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 | PLANET HOME LENDING, | RCN Capital, LLC |
|---|---|---|
| Total Applications | 65,607 ▲ | 12,981 |
| Loans Originated | 10,396 | 8,038 |
| Approval Rate (higher is better) | 15.8% | 61.9% ✓ |
| Denial Rate (lower is better) | 4.4% ✓ | 15.6% |
| Avg Loan Amount | $293,931 | $262,306 |
| Avg Interest Rate (lower is better) | 6.532% ✓ | 8.690% |
| Avg Applicant Income | $40,000 | N/A |
| Applications Denied | 2,897 | 2,021 |
| Applications Withdrawn | 525 | 2,922 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | PLANET HOME LENDING, | RCN Capital, LLC |
|---|---|---|
| Conventional | 16,319 (24.9%) | 12,981 (100.0%) |
| FHA | 30,342 (46.2%) | — |
| VA | 15,501 (23.6%) | — |
| USDA | 3,445 (5.3%) | — |
Loan Purpose Breakdown
| Purpose | PLANET HOME LENDING, | RCN Capital, LLC |
|---|---|---|
| Home Purchase | 49,628 | 5,052 |
| Refinancing | 7,757 | 1,627 |
| Cash-out Refinancing | 7,699 | 25 |
| Other | 385 | 5,619 |
| Home Improvement | 138 | 658 |
Top States by Loan Volume
No state data available.
| State | Originated | Rank |
|---|---|---|
| Maryland | 1,368 | #19 |
Summary
- 65,607 total applications · 10,396 originated
- Approval rate: 15.8%
- Denial rate: 4.4%
- Avg loan: $293,931
- Avg rate: 6.532%
- HQ: MERIDEN, CT
- 12,981 total applications · 8,038 originated
- Approval rate: 61.9%
- Denial rate: 15.6%
- Avg loan: $262,306
- Avg rate: 8.690%
- HQ: South Windsor, CT
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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.