Largest mortgage lenders in New York
By applications received in 2025. Grade is the lender's national grade.
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | Citizens Bank | C | 20,315 | 11,000 | 32.7% | 7.97% |
| 2 | Rocket Mortgage | C | 19,924 | 13,729 | 22.0% | 6.88% |
| 3 | United Shore Financial Services | B | 14,777 | 11,158 | 11.2% | 6.50% |
| 4 | JPMorgan Chase Bank | B | 14,735 | 9,163 | 11.7% | 6.38% |
| 5 | Manufacturers and Traders Trust | C | 12,335 | 7,073 | 31.3% | 5.99% |
| 6 | Bank of America | F | 10,193 | 3,897 | 35.7% | 5.99% |
| 7 | Bethpage Federal Credit Union | C | 9,736 | 4,085 | 47.2% | 6.49% |
| 8 | TD Bank | D | 9,239 | 4,324 | 30.2% | 7.69% |
| 9 | Newrez | D | 8,654 | 3,123 | 24.2% | 6.75% |
| 10 | ESL Federal Credit Union | B | 7,817 | 5,532 | 17.6% | 4.50% |
| 11 | Crosscountry Mortgage | B | 7,792 | 5,429 | 5.5% | 6.75% |
| 12 | Citibank | B | 7,735 | 3,687 | 17.3% | 6.13% |
| 13 | Broadview Federal Credit Union | C | 7,432 | 4,585 | 26.7% | 6.25% |
| 14 | Hudson Valley Credit Union | B | 6,638 | 3,660 | 25.4% | 4.50% |
| 15 | Premium Mortgage | A | 5,816 | 5,094 | 3.0% | 6.63% |
| 16 | Community Bank | D | 5,574 | 3,851 | 16.0% | 7.00% |
| 17 | Wells Fargo Bank | B | 4,975 | 2,733 | 14.4% | 6.13% |
| 18 | Homestead Funding | A | 4,860 | 4,005 | 2.1% | 6.49% |
| 19 | Empower Federal Credit Union | B | 4,276 | 3,103 | 15.4% | 7.25% |
| 20 | KeyBank | C | 4,212 | 2,485 | 26.5% | 6.50% |
| 21 | Pennymac Loan Services | C | 4,054 | 2,278 | 13.9% | 6.50% |
| 22 | Discover Bank | F | 3,894 | 467 | 57.3% | 8.65% |
| 23 | Loandepot.Com | D | 3,857 | 2,612 | 18.5% | 6.75% |
| 24 | Nassau Educators Federal Credit Union | B | 3,641 | 1,841 | 41.7% | 5.99% |
| 25 | Navy Federal Credit Union | D | 3,600 | 1,476 | 26.1% | 7.34% |
Best approval odds in New York
Lowest decision denial rate among lenders that decided at least 300 New York applications in 2025.
| # | Lender | Decided | Decision denial rate | Median rate |
|---|---|---|---|---|
| 1 | First Central Savings Bank | 455 | 0.9% | — |
| 2 | Velocity Commercial Capital | 373 | 1.9% | 10.05% |
| 3 | Ark Mortgage | 646 | 2.0% | 7.38% |
| 4 | Sefcu Services | 2,411 | 2.1% | 6.13% |
| 5 | FM Home Loans | 1,051 | 2.3% | 6.88% |
| 6 | Home Town Funding | 1,131 | 2.4% | 6.75% |
| 7 | American Neighborhood Mortgage Acceptance Company | 793 | 2.5% | 6.63% |
| 8 | Homestead Funding | 4,132 | 2.5% | 6.49% |
| 9 | Farm Credit East, ACA | 442 | 2.7% | 6.95% |
| 10 | Metro City Bank | 638 | 2.8% | 6.25% |
Lowest median rates in New York
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 | Cornerstone Community Federal Credit Union | 756 | 3.99% | 11.5% |
| 2 | Hudson Valley Credit Union | 3,660 | 4.50% | 25.4% |
| 3 | ESL Federal Credit Union | 5,493 | 4.50% | 17.6% |
| 4 | Affinity | 106 | 4.90% | 40.7% |
| 5 | G.P.O. Federal Credit Union | 318 | 4.99% | 39.5% |
| 6 | NBT Bank | 1,922 | 5.00% | 22.1% |
| 7 | First New York | 486 | 5.49% | 13.6% |
| 8 | Niagara'S Choice Federal Credit Union | 136 | 5.55% | 27.6% |
| 9 | Charles Schwab Bank | 192 | 5.63% | 7.6% |
| 10 | United Nations Federal Credit Union | 244 | 5.75% | 8.2% |
What New York borrowers applied for
By loan purpose
By loan type
Denial rate by applicant income
Why New York applications were denied
New York mortgage market by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan | Lenders |
|---|---|---|---|---|---|---|
| 2023 | 345,807 | 203,081 | 21.7% | 6.75% | $205,000 | 758 |
| 2024 | 353,864 | 208,818 | 21.1% | 6.88% | $205,000 | 745 |
| 2025 | 389,757 | 232,239 | 19.8% | 6.63% | $235,000 | 750 |
New York counties
Counties with at least 200 applications in 2025, most active first.
Frequently asked questions
19.8% of mortgage applications in New York were denied in 2025 (24.0% of applications that reached a decision). Nationally the rate was 18.0%.
Citizens Bank handled the most applications in New York in 2025: 20,315, with a denial rate of 32.7%.
Among lenders that decided at least 300 applications in New York, First Central Savings Bank had the lowest decision denial rate at 0.9%.
The median interest rate on loans originated in New York in 2025 was 6.63%. That is the rate borrowers actually received, reported by lenders under HMDA, not an advertised rate.