Largest mortgage lenders in Virginia
By applications received in 2025. Grade is the lender's national grade.
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | Navy Federal Credit Union | D | 19,395 | 9,684 | 19.3% | 7.75% |
| 2 | Rocket Mortgage | C | 19,274 | 14,489 | 14.8% | 6.63% |
| 3 | United Shore Financial Services | B | 13,994 | 10,136 | 10.4% | 6.12% |
| 4 | Truist Bank | C | 11,838 | 6,374 | 31.6% | 6.49% |
| 5 | Mortgage Research Center | C | 9,000 | 4,500 | 16.7% | 6.25% |
| 6 | Pennymac Loan Services | C | 8,334 | 4,338 | 10.7% | 6.38% |
| 7 | Freedom Mortgage | B | 8,029 | 3,646 | 6.5% | 6.25% |
| 8 | Bank of America | F | 6,584 | 2,688 | 31.9% | 6.24% |
| 9 | Newrez | D | 6,390 | 2,175 | 16.4% | 6.38% |
| 10 | Movement Mortgage | A | 6,126 | 4,339 | 4.3% | 6.56% |
| 11 | Vanderbilt Mortgage and Finance | F | 5,850 | 580 | 40.0% | 9.25% |
| 12 | Virginia Credit Union | D | 5,365 | 3,576 | 17.8% | 6.24% |
| 13 | Atlantic Bay Mortgage Group | A | 5,193 | 4,244 | 1.5% | 6.50% |
| 14 | Atlantic Union Bank | C | 4,871 | 3,237 | 24.3% | 7.50% |
| 15 | Crosscountry Mortgage | B | 4,339 | 2,938 | 3.2% | 6.58% |
| 16 | Atlantic Coast Mortgage | A | 4,256 | 3,458 | 1.8% | 6.49% |
| 17 | NVR Mortgage Finance | B | 3,903 | 2,711 | 20.2% | 6.13% |
| 18 | Loandepot.Com | D | 3,738 | 2,215 | 21.1% | 6.99% |
| 19 | LANGLEY Federal Credit Union | C | 3,618 | 2,701 | 20.0% | 6.99% |
| 20 | American Neighborhood Mortgage Acceptance Company | B | 3,519 | 2,520 | 3.1% | 6.50% |
| 21 | Spring Eq | D | 3,471 | 1,024 | 49.4% | 9.58% |
| 22 | Coastal Community Bank | C | 3,332 | 824 | 2.1% | 9.99% |
| 23 | Alcova Mortgage | A | 3,262 | 2,663 | 2.8% | 6.63% |
| 24 | First Heritage Mortgage | A | 3,232 | 2,637 | 3.0% | 6.38% |
| 25 | CMG Mortgage | A | 3,213 | 2,325 | 3.1% | 6.25% |
Best approval odds in Virginia
Lowest decision denial rate among lenders that decided at least 300 Virginia applications in 2025.
| # | Lender | Decided | Decision denial rate | Median rate |
|---|---|---|---|---|
| 1 | Jams-01 | 310 | 0.7% | 6.50% |
| 2 | First Savings Mortgage | 773 | 1.0% | 6.50% |
| 3 | T2 Financial | 363 | 1.1% | 6.50% |
| 4 | Towne Mortgage | 478 | 1.3% | 6.50% |
| 5 | Atlantic Bay Mortgage Group | 4,358 | 1.7% | 6.50% |
| 6 | First Home Mortgage | 457 | 1.8% | 6.63% |
| 7 | NFM | 1,338 | 1.8% | 6.63% |
| 8 | Atlantic Coast Mortgage | 3,740 | 2.1% | 6.49% |
| 9 | Archer Mortgage | 303 | 2.3% | 6.50% |
| 10 | Emm Loans | 389 | 2.3% | 6.38% |
Lowest median rates in Virginia
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 | Chartway Federal Credit Union | 606 | 2.99% | 25.7% |
| 2 | Homeamerican Mortgage | 210 | 5.00% | 8.0% |
| 3 | Dhi Mortgage Company | 652 | 5.50% | 10.0% |
| 4 | Charles Schwab Bank | 132 | 5.63% | 2.9% |
| 5 | Clearpath Lending | 102 | 5.69% | 11.6% |
| 6 | State Employees Credit Union of Maryland | 168 | 5.75% | 30.6% |
| 7 | United Nations Federal Credit Union | 309 | 5.75% | 10.1% |
| 8 | Village Capital & Investment | 580 | 5.75% | 16.4% |
| 9 | Credit Union Mortgage Association | 226 | 5.88% | 4.6% |
| 10 | Morgan Stanley Private Bank | 267 | 5.95% | 2.2% |
What Virginia borrowers applied for
By loan purpose
By loan type
Denial rate by applicant income
Why Virginia applications were denied
Virginia mortgage market by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan | Lenders |
|---|---|---|---|---|---|---|
| 2023 | 275,909 | 160,655 | 19.4% | 6.88% | $215,000 | 1,028 |
| 2024 | 309,211 | 183,107 | 17.6% | 6.75% | $235,000 | 1,003 |
| 2025 | 341,163 | 203,054 | 15.9% | 6.63% | $255,000 | 1,013 |
Virginia counties
Counties with at least 200 applications in 2025, most active first.
Fairfax County34k
Virginia Beach city19k
Prince William County19k
Loudoun County18k
Chesterfield County17k
Henrico County13k
Chesapeake city12k
Norfolk city9.0k
Spotsylvania County7.7k
Stafford County7.7k
Richmond city6.6k
Newport News city6.6k
Hampton city6.4k
Suffolk city5.9k
Portsmouth city5.2k
Arlington County4.5k
Frederick County4.5k
Hanover County4.5k
Alexandria city4.1k
Roanoke County3.6k
Albemarle County3.5k
Roanoke city3.5k
James City County3.4k
Bedford County3.2k
Fauquier County3.0k
Augusta County3.0k
Rockingham County2.8k
York County2.6k
Louisa County2.3k
Lynchburg city2.3k
Culpeper County2.2k
Montgomery County2.2k
Orange County2.2k
Isle of Wight County2.1k
Franklin County2.0k
Caroline County1.9k
Shenandoah County1.8k
Gloucester County1.8k
Warren County1.8k
Campbell County1.8k
Washington County1.7k
Pittsylvania County1.6k
New Kent County1.5k
Petersburg city1.4k
Henry County1.4k
Prince George County1.3k
Fluvanna County1.3k
King George County1.3k
Botetourt County1.2k
Pulaski County1.2k
Powhatan County1.2k
Goochland County1.2k
Danville city1.1k
Manassas city1.1k
Dinwiddie County1.1k
Westmoreland County1.1k
Accomack County1.0k
Amherst County1.0k
Mecklenburg County952
Staunton city928
Carroll County913
Wythe County910
Waynesboro city903
Hopewell city872
King William County846
Charlottesville city768
Page County758
Tazewell County757
Greene County750
Halifax County748
Fairfax city737
Salem city733
Smyth County681
Wise County671
Fredericksburg city635
Harrisonburg city630
Winchester city626
Rockbridge County586
Northumberland County576
Poquoson city573
Colonial Heights city544
Prince Edward County532
Bristol city514
Southampton County510
Appomattox County503
Nelson County498
Amelia County479
Buckingham County477
Russell County476
Lee County471
Scott County446
Middlesex County439
Madison County438
Northampton County427
Lancaster County425
Nottoway County400
Manassas Park city395
Floyd County393
Giles County385
Essex County371
Patrick County368
Clarke County365
Grayson County348
Brunswick County335
Franklin city323
Cumberland County313
Mathews County308
Martinsville city299
Alleghany County274
Falls Church city261
Lunenburg County258
Radford city255
King and Queen County253
Sussex County243
Dickenson County234
Charlotte County221
Surry County218
Williamsburg city216
Buchanan County214
Richmond County210
Frequently asked questions
15.9% of mortgage applications in Virginia were denied in 2025 (20.3% of applications that reached a decision). Nationally the rate was 18.0%.
Navy Federal Credit Union handled the most applications in Virginia in 2025: 19,395, with a denial rate of 19.3%.
Among lenders that decided at least 300 applications in Virginia, Jams-01 had the lowest decision denial rate at 0.7%.
The median interest rate on loans originated in Virginia in 2025 was 6.63%. That is the rate borrowers actually received, reported by lenders under HMDA, not an advertised rate.