Top Mortgage Lenders in Missouri

Today we’ll take a look at the top mortgage lenders in Missouri, based on loan volume.

This means the biggest mortgage companies that operate in the The Show-Me State, but aren’t necessarily headquartered there.

Nearly 900 different companies originated home loans there in 2021, funding more than $72 billion in the process.

But there can only be one #1 lender, and surprisingly it wasn’t the nation’s largest.

Instead, it was U.S. Bank, which calls Minneapolis, Minnesota home. Read on to see the rest.

Top Mortgage Lenders in Missouri (Overall)

Ranking Company Name 2021 Loan Volume
1. U.S. Bank $3.6 billion
2. Rocket Mortgage $2.9 billion
3. Wells Fargo $2.8 billion
4. Flat Branch Home Loans $2.3 billion
5. USA Mortgage $2.3 billion
6. Pennymac $2.0 billion
7. Guild Mortgage $1.9 billion
8. Freedom Mortgage $1.7 billion
9. AmeriHome Mortgage $1.7 billion
10. Central Bank $1.6 billion

U.S. Bank funded $3.6 billion in home loans in the state of Missouri last year, per Richey May’s HMDA data.

That was more than enough to beat out the top lender in the United States, Rocket Mortgage.

Detroit-based Rocket only managed $2.9 billion in loan volume, which illustrates the strength of U.S. Bank in the state.

In third was another depository, San Francisco-based Wells Fargo, which funded $2.8 billion despite their mortgage controversies.

Fourth place went to homegrown lender Flat Branch Home Loans (Columbia, MO) with $2.3 billion, followed by St. Louis-based USA Mortgage with a similar amount.

Places six through 10 consisted of Pennymac, Guild Mortgage, Freedom Mortgage, AmeriHome Mortgage, and Jefferson City, MO-based Central Bank.

In all, three of the top 10 are Missouri-based companies, which is a pretty good showing for the locals.

Top Missouri Mortgage Lenders (for Home Buyers)

Ranking Company Name 2021 Loan Volume
1. U.S. Bank $1.5 billion
2. Flat Branch Home Loans $1.5 billion
3. USA Mortgage $1.4 billion
4. Pennymac $1.1 billion
5. Guild Mortgage $1.1 billion
6. Wells Fargo $1.0 billion
7. AmeriHome Mortgage $824 million
8. Chase $810 million
9. Central Bank $767 million
10. Fairway Independent $734 million

When we filter out the refis, and focus only on home purchase loans, U.S. Bank remains king with $1.5 billion funded.

However, Flat Branch funded a nearly equal amount of home purchase loans in the state last year too.

They were trailed by USA Mortgage with about $1.4 billion. It makes sense for the local lenders to top the purchase loan rankings as home buyers tend to stay close to home for such mortgages.

In fourth was Pennymac with $1.1 billion, followed by Guild Mortgage with a similar amount funded.

Wells Fargo took sixth with roughly $1 billion funded, followed by AmeriHome Mortgage, Chase, Central Bank, and Fairway Independent Mortgage.

Somewhat surprising not to see more local names other than those already present in the overall list.

Top Refinance Lenders in Missouri (for Existing Homeowners)

Ranking Company Name 2021 Loan Volume
1. Rocket Mortgage $2.4 billion
2. U.S. Bank $1.9 billion
3. Wells Fargo $1.7 billion
4. Freedom Mortgage $1.3 billion
5. UWM $911 million
6. USA Mortgage $898 million
7. Pennymac $871 million
8. Central Bank $833 million
9. Mr. Cooper $822 million
10. AmeriHome Mortgage $821 million

If we’re talking refinances only, Rocket Mortgage finally takes over U.S. Bank with $2.4 billion funded.

And U.S. Bank falls to second with $1.9 billion in refinance volume. So a bit of a flip flop.

In third was Wells Fargo with $1.7 billion, strong given their issues of late. Fourth went to Freedom Mortgage, a top VA loan lender, and in fifth United Wholesale Mortgage (UWM).

Somewhat surprising to see UWM only make one list as they are the nation’s third largest lender overall.

The rest of the refi leaders included USA Mortgage, Pennymac, Central Bank, Mr. Cooper, and AmeriHome Mortgage.

Who Are the Best Missouri Mortgage Lenders Based on Customer Reviews?

Big is one thing, best is another. Although, sometimes they can overlap.

When we adjust the criteria to reviews instead of loan volume, we find that top lender U.S. Bank has a solid 4.98/5 rating on Zillow from 11,000+ customer reviews.

Even better is Central Bank, which carries a 4.99/5 rating from over 1,000 customer reviews.

Not far behind is USA Mortgage with a 4.98/5 from 3,100+ reviews, which is arguably better given the large sample size.

Flat Branch has a similarly stellar 4.96/5 from 900+ reviews, while Rocket Mortgage has a 4.5 and Wells Fargo has a 4.95.

Others not on the lists above include Veteran United Home Loans (4.78/5), Citibank (4.83/5), North American Savings Bank (4.95/5), and Homestead Financial Mortgage (4.98/5).

Along with Commerce Bank (4.98/5), Delmar Mortgage (4.94/5), Gershman Mortgage (4.97/5) and Nutter Home Loans (4.79/5).

In other words, there are lots and lots of highly-rated Missouri-based mortgage lenders to choose from.

Take the time to explore the many options out there and gather multiple quotes to ensure you get your hands on the best pricing.

(photo: Marcin Wichary)

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