In 2022, Rocket Mortgage was the largest mortgage provider in the United States, with nearly 128 billion U.S. dollars in mortgage lending. In terms of number of mortgage originations, Rocket Mortgage also ranked the highest.
How do home buyers finance their home purchase?
The most common way to finance a new home is via a mortgage, while only a small fraction of home sales is paid in cash. When it comes to different types of housing loans, there are also various options, such as conventional, FHA insured, and VA guaranteed. FHA insured loans are mortgages provided by approved lenders and insured by the Federal Housing Authority. Because of the lower risk associated, home buyers can pay a smaller down payment or have lower credit score. Similarly, VA loans are guaranteed by the Department of Veterans Affairs and are available for veterans, service members, and their surviving spouses.
Purchase vs refinance mortgages
Once a home buyer has taken out a mortgage for a new home, they can later renegotiate the conditions of the loan to shorten or extend the loan term, obtain a lower interest rate, or convert the home’s equity into cash. When mortgage rates were at their lowest in 2020 and 2021, the refinance mortgages surged, while purchase mortgages increased at a lower rate.
Leading mortgage lenders in the United States in 2022, by value of mortgage lending
(in billion U.S. dollars)
Characteristic
Mortgage lending in billion U.S. dollars
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Bankrate. (April 3, 2023). Leading mortgage lenders in the United States in 2022, by value of mortgage lending (in billion U.S. dollars) [Graph]. In Statista. Retrieved June 18, 2024, from https://www.statista.com/statistics/938631/mortgage-lenders-by-loan-value-usa/
Bankrate. "Leading mortgage lenders in the United States in 2022, by value of mortgage lending (in billion U.S. dollars)." Chart. April 3, 2023. Statista. Accessed June 18, 2024. https://www.statista.com/statistics/938631/mortgage-lenders-by-loan-value-usa/
Bankrate. (2023). Leading mortgage lenders in the United States in 2022, by value of mortgage lending (in billion U.S. dollars). Statista. Statista Inc.. Accessed: June 18, 2024. https://www.statista.com/statistics/938631/mortgage-lenders-by-loan-value-usa/
Bankrate. "Leading Mortgage Lenders in The United States in 2022, by Value of Mortgage Lending (in Billion U.S. Dollars)." Statista, Statista Inc., 3 Apr 2023, https://www.statista.com/statistics/938631/mortgage-lenders-by-loan-value-usa/
Bankrate, Leading mortgage lenders in the United States in 2022, by value of mortgage lending (in billion U.S. dollars) Statista, https://www.statista.com/statistics/938631/mortgage-lenders-by-loan-value-usa/ (last visited June 18, 2024)
Leading mortgage lenders in the United States in 2022, by value of mortgage lending (in billion U.S. dollars) [Graph], Bankrate, April 3, 2023. [Online]. Available: https://www.statista.com/statistics/938631/mortgage-lenders-by-loan-value-usa/