September 21, 2023

It’s time to search out out who the highest mortgage lenders in Kentucky are, primarily based on whole mortgage quantity.

Greater than 750 banks, direct lenders, and credit score unions originated dwelling loans within the state of Kentucky final 12 months.

Altogether, this group funded greater than $40 billion in mortgages, although just one can declare to be #1.

As is the case with many different states within the nation, Rocket Mortgage led the best way in The Bluegrass State.

Hold studying to see which different mortgage corporations made the top-10 listing.

Prime Mortgage Lenders in Kentucky (General)

Rating Firm Identify 2021 Mortgage Quantity
1. Rocket Mortgage $2.2 billion
2. Wells Fargo $1.2 billion
3. Freedom Mortgage $1.1 billion
4. U.S. Financial institution $1.1 billion
5. UWM $1.0 billion
6. Homepoint $1.0 billion
7. Fifth Third Financial institution $952 million
8. Chase $938 million
9. Pennymac $885 million
10. AmeriHome Mortgage $844 million

Rocket Mortgage snagged the highest spot in Kentucky with $2.2 billion in dwelling loans funded in 2021, per HMDA knowledge compiled by Richey May.

That was a couple of billion greater than second place Wells Fargo, which managed about $1.2 billion in origination quantity final 12 months.

Coming in third was Boca Raton-based Freedom Mortgage with $1.1 billion, narrowly beating out U.S. Financial institution’s comparable whole.

In fifth was United Wholesale Mortgage with $1 billion, an organization that depends solely on mortgage brokers to generate enterprise.

The remainder of the highest 10 included Homepoint, Fifth Third Financial institution, Chase, Pennymac, and AmeriHome Mortgage.

Not one of the corporations talked about are headquartered in Kentucky, although Fifth Third is from close by Cincinnati, Ohio.

Prime Kentucky Mortgage Lenders (for Residence Patrons)

Rating Firm Identify 2021 Mortgage Quantity
1. AmeriHome Mortgage $511 million
2. Pennymac $500 million
3. UWM $489 million
4. Stockton Mortgage $489 million
5. Rocket Mortgage $485 million
6. Wells Fargo $484 million
7. Homepoint $479 million
8. U.S. Financial institution $420 million
9. Residents Financial institution $410 million
10. American Mtg. Service Co. $403 million

If speaking dwelling buy lending solely, SoCal-based AmeriHome Mortgage takes the highest spot with $511 million funded.

They have been adopted by one other SoCal lender, Pennymac, with $500 million funded, and UWM with $489 million in third.

Frankfort, KY-based Stockton Mortgage took fourth with roughly $489 million as nicely, trailed intently by Rocket Mortgage with $485 million.

The underside half of the highest 10 included Wells Fargo, Homepoint, U.S. Financial institution, Residents Financial institution, and Cincinnati-based American Mortgage Service Co.

So when it got here to dwelling shopping for, one Kentucky-based firm made the listing.

Prime Refinance Lenders in Kentucky (for Current Owners)

Rating Firm Identify 2021 Mortgage Quantity
1. Rocket Mortgage $1.7 billion
2. Freedom Mortgage $831 million
3. Fifth Third Financial institution $675 million
4. Guardian Financial savings $656 million
5. Wells Fargo $636 million
6. Chase $594 million
7. U.S. Financial institution $583 million
8. UWM $551 million
9. Homepoint $543 million
10. PNC Financial institution $469 million

Now let’s speak refis within the state of Kentucky. For folk refinancing an current mortgage within the state, Rocket Mortgage was the highest vacation spot with $1.7 billion funded.

Freedom Mortgage got here in second with $831 million, adopted by Fifth Third Financial institution with $675 million in mortgage quantity.

Cincy-based Guardian Financial savings Financial institution took fourth with $656 million, and Wells Fargo got here in fifth with $636 million.

The remainder of the large photographs within the refinance division included Chase, U.S. Financial institution, UWM, Homepoint, and PNC Financial institution.

The Greatest Mortgage Lenders in Kentucky

I all the time try to search out native names to throw into the combination, even when they didn’t fund as a lot as the large guys.

And I sometimes flip to Zillow to take a look at the mortgage evaluations of native corporations in every state.

Our one homegrown lender, Stockton Mortgage, has a 4.92/5 from over 150 buyer evaluations on Zillow, which isn’t too shabby.

Probably the most reviewed Kentucky-based lender on Zillow is Gold Monetary Providers, which has a 4.99/5 from almost 500 evaluations.

As for the larger names, Rocket Mortgage (4.48/5), Pennymac (4.40/5), Fifth Third (4.92/5) Residents Financial institution (4.96/5), Wells Fargo (4.95/5), Chase (4.95/5), Freedom Mortgage (4.85/5), and Homepoint (4.89/5).

In the end, there are many highly-rated mortgage lenders in Kentucky and surrounding states.

So whether or not you go native or strive an out-of-state possibility, you must be capable to discover a appropriate match to your mortgage wants.

(picture: Joel Kramer)