Prime Mortgage Lenders in Arizona

For those who’re curious who the highest mortgage lenders in Arizona are, you’ve come to the best place.

I’ve compiled a number of top-10 lists for total quantity, house buy quantity, and refinance quantity.

Curiously, a wholesale mortgage lender really topped the general listing in 2021 (the newest yr out there).

That’s spectacular given the truth that wholesale lenders solely work with mortgage brokers, versus retail lenders which are consumer-facing.

Anyway, the lender in query was United Wholesale Mortgage, or UWM for brief, with a strong $12.1 billion. Learn on to search out out who the opposite huge gamers have been.

Prime Mortgage Lenders in Arizona (Total)

As famous, UWM topped the charts within the Copper State with over $12 billion in house mortgage quantity, beating out its crosstown rival Rocket Mortgage, per HMDA information from Richey Might.

Rocket mustered an additionally spectacular $11.5 billion in house mortgage origination quantity, beating out third place Chase’s $6.6 billion fairly simply.

Additionally within the high 5 have been Fairway Unbiased Mortgage with $6.3 billion, and loanDepot with $5.4 billion.

The remainder of the top-10 additionally consisted of huge nationwide mortgage manufacturers, aside from Nova Dwelling Loans, which is definitely an unbiased mortgage banker based mostly in Arizona.

They got here in seventh with a wholesome $4.8 billion in mortgage quantity, beating out U.S. Financial institution, Freedom Mortgage, and Pennymac.

Wells Fargo snagged sixth place with $5.4 billion, fairly robust regardless of ongoing headwinds on the firm.

Prime Mortgage Lenders in Arizona (for Dwelling Buy Loans)

Now let’s flip our consideration to house buy lending, which has turn into all the fashion since mortgage charges virtually doubled.

The highest Arizona mortgage lender for house buy loans was additionally UWM with $4.2 billion funded.

This time they held off second place Fairway Unbiased Mortgage, which originated a good $3.8 billion in State 48.

Coming in third was depository U.S. Financial institution with $2.9 billion, adopted by fellow financial institution Chase with $2.8 billion.

In fifth was Arizona’s very personal Nova Dwelling Loans with $2.3 billion. For those who reside there, you’ve undoubtedly seen their many billboards alongside the freeway.

Others within the high 10 included Wells Fargo, loanDepot, Rocket Mortgage, Lakeview Mortgage Servicing, and one other Arizona-based mortgage lender, VIP Mortgage.

This is a crucial listing to observe for 2022 because the market shifts to buy vs. refinance lending.

Those that stay on it will likely be the winners within the mortgage house in what in any other case is likely to be a troublesome yr.

Prime Mortgage Lenders in Arizona (for Dwelling Refinance Loans)

Now let’s crown a king of refinance loans. For those who guessed Rocket Mortgage, you gained.

The nation’s primary mortgage lender did $9.5 billion in refis in Arizona final yr.

That was effectively above second place UWM’s $8 billion, and in a distinct galaxy than third place Chase’s $3.6 billion.

Nonbank lenders Freedom Mortgage and loanDepot took fourth and fifth, respectively, with $3.5 and $3.4 billion.

Others within the high 10 included repeats Wells Fargo, Nova Dwelling Loans, Pennymac, and Fairway Unbiased, together with Mr. Cooper (previously Nationstar).

So it seems the top-10 mortgage lenders in Arizona is pretty concentrated amongst a small group of huge names.

Prime Mortgage Lenders in Phoenix

Prime Mortgage Lenders in Tucson

It’ll be fascinating to see what this listing appears like for 2022.

Do You Must Use One in all Arizona’s Greatest Mortgage Lenders?

Bear in mind, greatest isn’t at all times greatest, although it’s potential for giant and greatest to coexist.

Finally, it’ll come all the way down to your preferences and private expertise relying on your own home mortgage wants.

The highest mortgage lender in Arizona is UWM, which as famous, is a wholesale lender. This implies smaller brokerages resell their merchandise.

So it’s potential to work with a small mom-and-pop store and nonetheless get your mortgage from the #1 lender within the state.

But it surely doesn’t actually matter how huge, small, or medium your lender is so long as they get the job performed and supply a aggressive charge (and costs).

Simply take the time to discover the numerous choices out there and collect greater than only one quote if you would like the prospect to avoid wasting dough.