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 | US BANK, N.A. | ROCKET MORTGAGE |
|---|---|---|
| Total Applications | 202,480 | 553,854 ▲ |
| Loans Originated | 74,512 | 361,071 |
| Approval Rate (higher is better) | 36.8% | 65.2% ✓ |
| Denial Rate (lower is better) | 26.8% | 14.9% ✓ |
| Avg Loan Amount | $304,941 | $284,179 |
| Avg Interest Rate (lower is better) | 7.670% | 7.025% ✓ |
| Avg Applicant Income | $38,000 | $38,000 |
| Applications Denied | 54,155 | 82,289 |
| Applications Withdrawn | 18,416 | 37,829 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | US BANK, N.A. | ROCKET MORTGAGE |
|---|---|---|
| Conventional | 173,516 (85.7%) | 399,766 (72.2%) |
| FHA | 24,336 (12.0%) | 111,827 (20.2%) |
| VA | 3,675 (1.8%) | 42,234 (7.6%) |
| USDA | 953 (0.5%) | 27 (0.0%) |
Loan Purpose Breakdown
| Purpose | US BANK, N.A. | ROCKET MORTGAGE |
|---|---|---|
| Home Purchase | 97,147 | 243,308 |
| Other | 42,622 | 23,875 |
| Home Improvement | 37,315 | 4,864 |
| Refinancing | 13,412 | 50,405 |
| Cash-out Refinancing | 10,851 | 230,620 |
Top States by Loan Volume
| State | Originated | Rank |
|---|---|---|
| California | 16,584 | #3 |
| Illinois | 4,144 | #7 |
| Minnesota | 4,028 | #5 |
| Ohio | 3,721 | #12 |
| Missouri | 3,423 | #7 |
| Washington | 3,364 | #8 |
| Wisconsin | 2,745 | #11 |
| Colorado | 2,526 | #10 |
| 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
- 202,480 total applications · 74,512 originated
- Approval rate: 36.8%
- Denial rate: 26.8%
- Avg loan: $304,941
- Avg rate: 7.670%
- HQ: CINCINNATI, OH
- 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.