Safe Rate Rankings

Best Bank Mortgage Lenders in New York

Updated June 4, 2026

Rankings are a starting point, not a verdict. Safe Rate recommends speaking with 2-3 lenders to find the right fit for your home loan!

⚖️ The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.

🛡️ No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.

📊 HMDA 2024Built using publicly available originated loan data from the federal government.

🎯 Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.

Market

Total Lenders215

Total Loans47,525

Median Rate Spread0.24%

New York Market Insights

Citibank National Association is Safe Rate's top-ranked bank in New York, leading the composite scorecard across pricing, pullthrough, products, and local expertise.
There is often a pricing vs. pullthrough tradeoff in mortgage lending. In New York, Columbia Bank and Morgan Stanley Private Bank National Association scores highest on pricing while Manufacturers and Traders Trust and Bank of America National Association leads on likelihood to close. That is why we encourage speaking with multiple lenders.

Explore Rankings by Type

Overall Rankings

All lenders in New York

By Loan Product

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Rank	Lender	Overall	Pricing	Pull Through	Place	Avg Fees	Rate Spread	# of Loans
1	Citibank, National Association BankDirect	Exceptional	Exceptional	Sound	Exceptional	$465Credit	0.287%Below	2,140
2	Morgan Stanley Private Bank, National Association BankDirect	Exceptional	Exceptional	Strong	Strong	$347Fees	0.553%Below	484
3	Bank of America, National Association BankDirect	Strong	Strong	Strong	Exceptional	$1,248Fees	0.322%Below	816
4	Valley National Bank BankDirect	Strong	Exceptional	Strong	Strong	$1,066Fees	0.539%Below	268
5	U.S. Bank National Association BankDirect	Strong	Strong	Strong	Exceptional	$18Credit	0.209%Below	803
6	Kearny Bank BankDirect	Strong	Exceptional	Strong	Strong	$1,073Fees	0.235%Below	121
7	Columbia Bank BankDirect	Strong	Exceptional	Sound	Strong	$383Fees	0.920%Below	115
8	Citizens Bank, National Association BankDirect	Strong	Strong	Strong	Exceptional	$702Fees	0.185%Below	1,365
9	JPMorgan Chase Bank, National Association BankDirect & Wholesale	Strong	Sound*	Strong	Exceptional	$3,163Fees	0.107%Above	4,529
10	Manufacturers and Traders Trust Company BankDirect	Strong	Strong	Strong	Strong	$1,503Fees	0.116%Below	425
11	Wells Fargo Bank, National Association BankDirect	Strong	Strong	Sound	Exceptional	$1,521Fees	0.254%Below	1,942
12	HSBC BANK USA, NATIONAL ASSOCIATION BankDirect	Strong	Strong	Strong	Strong	$497Fees	0.243%Below	363
13	TD Bank, National Association BankDirect	Strong	Sound	Sound	Exceptional	$945Fees	0.023%Above	988
14	PNC Bank, National Association BankDirect	Strong	Strong	Strong	Strong	$1,623Fees	0.032%Below	119
15	Flagstar Bank, N.A. BankDirect & Wholesale	Strong	Acceptable*	Strong	Strong	$3,932Fees	0.367%Above	364
16	UBS Bank USA BankDirect	Strong	Strong	Sound	Strong	$991Fees	0.091%Below	110
17	Dime Community Bank BankDirect & Wholesale	Sound	Strong*	Acceptable	Strong	$1,458Fees	0.417%Below	118
18	Ridgewood Savings Bank BankDirect & Wholesale	Sound	Sound*	Sound	Strong	$1,884Fees	0.199%Below	123
19	Webster Bank, National Association BankDirect & Wholesale	Sound	Sound*	Sound	Strong	$1,441Fees	0.157%Below	227
20	Amalgamated Bank BankDirect	Sound	Acceptable	Sound	Strong	$2,298Fees	0.163%Above	141
21	Cathay Bank BankDirect	Sound	Acceptable	Sound	Strong	$1,821Fees	0.066%Below	122
22	Metro City Bank BankDirect	Sound	Mediocre	Strong	Strong	$5,778Fees	1.964%Above	267
23	The Federal Savings Bank BankDirect	Sound	Mediocre	Sound	Strong	$4,891Fees	0.337%Above	326
24	Bank of Hope BankDirect	Sound	Mediocre	Sound	Strong	$1,636Fees	0.552%Above	234
25	First Central Savings Bank BankDirect	Sound	Mediocre	Strong	Strong	$5,378Fees	1.453%Above	192
26	Quontic Bank BankDirect & Wholesale	Sound	Mediocre*	Sound	Strong	$6,401Fees	1.042%Above	218

❓ Frequently Asked Questions

How are mortgage lenders ranked in New York?+

Safe Rate ranks lenders using the 4 Ps framework, derived entirely from HMDA (Home Mortgage Disclosure Act) data: Pricing (how competitively a lender prices loans vs. the market benchmark), Pullthrough (how effectively a lender closes applications), Place (the lender's depth of expertise in New York), and Product (performance on specific loan types). Each lender receives a composite Safe Rate Score from 0–100. No lender pays to appear in the rankings.

What is the Safe Rate Score?+

The Safe Rate Score is a 0–100 composite index measuring a lender's performance across Pricing, Pullthrough, Place, and Product. Scores of 80 or above earn Champion status; scores of 60–79 earn Superstar status. All scores are calculated from verified HMDA data — no lender can pay to improve their position.

How many mortgage lenders are active in New York?+

Based on 2024 HMDA data, 215 lenders originated a combined 47,525 loans in New York. Safe Rate's rankings evaluate all of them — not just a curated shortlist.

What does the rate spread tell me about a lender in New York?+

Rate spread measures how much above the Average Prime Offer Rate (APOR) a lender charges. The median rate spread in New York is 0.24%. Lenders in Safe Rate's top rankings consistently price below this median, meaning borrowers typically pay less interest over the life of their loan.

What is HMDA data and why does Safe Rate use it?+

HMDA (Home Mortgage Disclosure Act) is a federal law requiring every mortgage lender to disclose every loan application annually — including rates, amounts, approvals, and denials. Safe Rate uses HMDA because it is government-verified, covers all lenders equally, and cannot be gamed. It is the most objective foundation available for lender rankings.

Does Safe Rate accept payment from lenders to appear in rankings?+

No. Safe Rate rankings are strictly data-driven. No lender can pay to appear in or improve their position in Safe Rate's rankings. The only factor that determines a lender's rank is their verified HMDA performance data.

What is the difference between a bank, credit union, and independent mortgage company?+

Banks and credit unions offer mortgages alongside checking, savings, and other products. Independent Mortgage Companies (IMCs) focus exclusively on originating loans and often offer more product variety and speed. In New York's rankings, all three institution types are evaluated on the same HMDA performance metrics.

How We Rank Lenders

Our rankings use a weighted average of scores across equally-weighted categories to evaluate lenders on a linear, raw performance scale.

Our Point System (Max 30 Points)

Pricing

Rate and fee competitiveness (33%)

Pull Through

Reliability in closing loans (33%)

Place

Local market expertise (33%)

Data Integrity & Updates

Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.

⚖️ Licensing & Disclosures

Lender rankings and market statistics are created by Dylan Hall, licensed mortgage loan officer (NMLS #1658740). Safe Rate is a mortgage technology platform; mortgage lending services are provided by PartnerOwn LLC dba Safe Rate Mortgage, a licensed mortgage broker and lender (NMLS #1590949). Safe Rate Mortgage is a lending partner of some of the lenders ranked on this page, and Safe Rate Inc. has software or service customers on this list; however, all rankings are calculated using objective, public Home Mortgage Disclosure Act (HMDA) datasets, completely independent of any corporate partnerships, client relationships, or compensation.