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 | TRUIST BANK | WELLS FARGO BANK |
|---|---|---|
| Total Applications | 105,457 | 89,959 ▲ |
| Loans Originated | 35,865 | 37,240 |
| Approval Rate (higher is better) | 34.0% | 41.4% ✓ |
| Denial Rate (lower is better) | 30.8% | 19.4% ✓ |
| Avg Loan Amount | $255,366 | $694,646 |
| Avg Interest Rate (lower is better) | 8.043% | 6.316% ✓ |
| Avg Applicant Income | $36,000 | $37,000 |
| Applications Denied | 32,476 | 17,404 |
| Applications Withdrawn | 6,696 | 21,444 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | TRUIST BANK | WELLS FARGO BANK |
|---|---|---|
| Conventional | 97,857 (92.8%) | 80,805 (89.8%) |
| FHA | 5,140 (4.9%) | 6,459 (7.2%) |
| VA | 2,272 (2.2%) | 2,564 (2.9%) |
| USDA | 188 (0.2%) | 131 (0.1%) |
Loan Purpose Breakdown
| Purpose | TRUIST BANK | WELLS FARGO BANK |
|---|---|---|
| Home Purchase | 41,291 | 50,726 |
| Other | 24,197 | 5,361 |
| Home Improvement | 18,329 | 3,139 |
| Refinancing | 14,930 | 8,202 |
| Cash-out Refinancing | 6,075 | 19,624 |
Top States by Loan Volume
| State | Originated | Rank |
|---|---|---|
| North Carolina | 7,011 | #6 |
| Virginia | 5,521 | #4 |
| Florida | 5,375 | #14 |
| Georgia | 4,121 | #5 |
| Maryland | 3,020 | #5 |
| South Carolina | 1,825 | #15 |
| Tennessee | 1,780 | #17 |
| West Virginia | 848 | #5 |
| State | Originated | Rank |
|---|---|---|
| California | 6,910 | #11 |
| New York | 2,727 | #19 |
| New Jersey | 1,658 | #20 |
Summary
- 105,457 total applications · 35,865 originated
- Approval rate: 34.0%
- Denial rate: 30.8%
- Avg loan: $255,366
- Avg rate: 8.043%
- HQ: RALEIGH, NC
- 89,959 total applications · 37,240 originated
- Approval rate: 41.4%
- Denial rate: 19.4%
- Avg loan: $694,646
- Avg rate: 6.316%
- HQ: WINSTON SALEM, NC
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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.