Largest mortgage lenders in Massachusetts
By applications received in 2025. Grade is the lender's national grade.
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | Citizens Bank | C | 17,476 | 10,235 | 29.0% | 7.40% |
| 2 | Rocket Mortgage | C | 8,698 | 6,590 | 15.9% | 6.75% |
| 3 | Bank of America | F | 7,784 | 3,551 | 30.1% | 5.99% |
| 4 | Guaranteed Rate | B | 7,313 | 4,507 | 4.5% | 6.50% |
| 5 | Eastern Bank | B | 6,216 | 3,620 | 31.8% | 6.99% |
| 6 | Rockland Trust | C | 5,990 | 3,239 | 28.6% | 6.99% |
| 7 | Leader Bank | A | 5,913 | 4,926 | 1.8% | 6.25% |
| 8 | United Shore Financial Services | B | 5,898 | 4,404 | 12.8% | 6.50% |
| 9 | Crosscountry Mortgage | B | 5,634 | 3,923 | 3.8% | 6.63% |
| 10 | TD Bank | D | 3,778 | 1,975 | 26.9% | 7.44% |
| 11 | Newrez | D | 3,690 | 1,151 | 21.8% | 6.75% |
| 12 | Digital | D | 3,461 | 1,769 | 23.8% | 7.75% |
| 13 | CMG Mortgage | A | 3,435 | 2,329 | 5.8% | 6.63% |
| 14 | Guild Mortgage | A | 3,089 | 2,282 | 4.1% | 6.50% |
| 15 | Loandepot.Com | D | 2,933 | 1,900 | 16.6% | 6.75% |
| 16 | The Cape Cod Five Cents Savings Bank | C | 2,840 | 1,955 | 11.7% | 7.50% |
| 17 | Fairway Independent Mortgage | B | 2,658 | 1,954 | 6.1% | 6.63% |
| 18 | Broker Solutions | D | 2,637 | 1,118 | 10.2% | 6.75% |
| 19 | Manufacturers and Traders Trust | C | 2,606 | 1,690 | 24.3% | 5.88% |
| 20 | Pennymac Loan Services | C | 2,555 | 1,315 | 12.2% | 6.50% |
| 21 | Freedom Mortgage | B | 2,209 | 792 | 9.3% | 6.25% |
| 22 | JPMorgan Chase Bank | B | 2,022 | 1,248 | 9.7% | 6.38% |
| 23 | Movement Mortgage | A | 1,862 | 1,412 | 4.4% | 6.63% |
| 24 | bankESB | A | 1,770 | 1,399 | 7.5% | 6.13% |
| 25 | Total Mortgage Services | B | 1,745 | 1,361 | 4.5% | 6.63% |
Best approval odds in Massachusetts
Lowest decision denial rate among lenders that decided at least 300 Massachusetts applications in 2025.
| # | Lender | Decided | Decision denial rate | Median rate |
|---|---|---|---|---|
| 1 | Rf Renovo Management Company | 433 | 0.0% | 9.75% |
| 2 | Emm Loans | 552 | 0.9% | 6.75% |
| 3 | General Mortgage Capital | 307 | 2.0% | 6.38% |
| 4 | Leader Bank | 5,147 | 2.1% | 6.25% |
| 5 | Morgan Stanley Private Bank | 478 | 2.5% | 5.83% |
| 6 | American Neighborhood Mortgage Acceptance Company | 771 | 3.9% | 6.63% |
| 7 | Radius Financial Group | 948 | 4.0% | 6.62% |
| 8 | Dedham Institution for Savings | 323 | 4.3% | 6.38% |
| 9 | Guaranteed Rate Affinity | 860 | 4.4% | 6.50% |
| 10 | Northpoint Mortgage | 468 | 4.5% | 6.63% |
Lowest median rates in Massachusetts
Among lenders reporting rates on at least 100 originated loans. Product mix matters: a VA specialist will show a lower median than a jumbo lender.
| # | Lender | Priced loans | Median rate | Denial rate |
|---|---|---|---|---|
| 1 | Align Credit Union | 235 | 5.49% | 18.3% |
| 2 | Charles Schwab Bank | 168 | 5.50% | 4.5% |
| 3 | Berkshire Bank | 530 | 5.50% | 18.4% |
| 4 | United Nations Federal Credit Union | 167 | 5.63% | 5.2% |
| 5 | Members Mortgage Company | 152 | 5.63% | 5.5% |
| 6 | Citibank | 212 | 5.69% | 13.0% |
| 7 | First-Citizens Bank & Trust | 155 | 5.75% | 9.6% |
| 8 | Morgan Stanley Private Bank | 449 | 5.83% | 2.2% |
| 9 | UBS Bank USA | 124 | 5.88% | 4.6% |
| 10 | Liberty Bank | 269 | 5.88% | 5.9% |
What Massachusetts borrowers applied for
By loan purpose
By loan type
Denial rate by applicant income
Why Massachusetts applications were denied
Massachusetts mortgage market by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan | Lenders |
|---|---|---|---|---|---|---|
| 2023 | 182,317 | 111,655 | 18.6% | 6.88% | $265,000 | 754 |
| 2024 | 195,186 | 119,673 | 18.3% | 6.99% | $295,000 | 746 |
| 2025 | 216,627 | 135,614 | 16.2% | 6.63% | $325,000 | 799 |
Massachusetts counties
Counties with at least 200 applications in 2025, most active first.
Frequently asked questions
16.2% of mortgage applications in Massachusetts were denied in 2025 (20.0% of applications that reached a decision). Nationally the rate was 18.0%.
Citizens Bank handled the most applications in Massachusetts in 2025: 17,476, with a denial rate of 29.0%.
Among lenders that decided at least 300 applications in Massachusetts, Rf Renovo Management Company had the lowest decision denial rate at 0.0%.
The median interest rate on loans originated in Massachusetts in 2025 was 6.63%. That is the rate borrowers actually received, reported by lenders under HMDA, not an advertised rate.