Safe Rate Rankings

Best Conventional Mortgage Bank Lenders in Philadelphia

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 Lenders163

Total Loans17,577

Median Rate Spread0.31%

Philadelphia Market Insights

Oceanfirst Bank National Association is Safe Rate's top-ranked Conventional bank in Philadelphia, leading on pricing, pullthrough, Conventional product expertise, and local knowledge.
There is often a pricing vs. pullthrough tradeoff in mortgage lending. In Philadelphia, Oceanfirst Bank National Association and Customers Bank scores highest on Conventional pricing while Customers Bank and Oceanfirst Bank 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 Philadelphia

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Rank	Lender	Overall	Pricing	Product	Pull Through	Place	Avg Fees	Rate Spread	# of Loans
1	OceanFirst Bank, National Association BankDirect	Exceptional	Exceptional	Strong	Exceptional	Strong	$2,433Credit	0.498%Below	91
2	Wilmington Savings Fund Society, FSB BankDirect	Strong	Strong	Strong	Strong	Exceptional	$1,104Credit	0.112%Below	458
3	Customers Bank BankDirect	Strong	Exceptional	Sound	Exceptional	Strong	$846Fees	0.181%Below	78
4	Bank of America, National Association BankDirect	Strong	Strong	Exceptional	Strong	Strong	$1,542Fees	0.066%Below	189
5	JPMorgan Chase Bank, National Association BankDirect & Wholesale	Strong	Sound*	Exceptional	Strong	Strong	$1,909Fees	0.008%Below	301
6	Citizens Bank, National Association BankDirect	Strong	Strong	Exceptional	Sound	Exceptional	$400Fees	0.055%Above	263
7	PNC Bank, National Association BankDirect	Strong	Strong	Exceptional	Strong	Strong	$120Credit	0.103%Above	103
8	U.S. Bank National Association BankDirect	Strong	Strong	Exceptional	Strong	Sound	$1,503Fees	0.133%Below	40
9	The Huntington National Bank BankDirect	Strong	Strong	Exceptional	Strong	Sound	$1,617Fees	0.479%Above	60
10	Truist Bank BankDirect	Strong	Strong	Exceptional	Strong	Sound	$1,214Credit	0.011%Below	54
11	Wells Fargo Bank, National Association BankDirect	Strong	Strong	Exceptional	Sound	Strong	$1,276Fees	0.026%Above	244
12	Morgan Stanley Private Bank, National Association BankDirect	Strong	Exceptional	Strong	Sound	Sound	$270Fees	0.513%Below	50
13	First National Bank of Pennsylvania BankDirect	Strong	Strong	Exceptional	Strong	Sound	$1,153Fees	0.027%Below	45
14	ESSA Bank & Trust BankDirect	Strong	Exceptional	Sound	Strong	Strong	$3,200Credit	0.047%Above	86
15	MERIDIAN BANK BankDirect	Strong	Sound	Strong	Strong	Exceptional	$2,125Fees	0.031%Above	228
16	Univest Bank and Trust Co. BankDirect	Strong	Sound	Strong	Strong	Strong	$2,081Fees	0.011%Below	142
17	TD Bank, National Association BankDirect	Strong	Sound	Strong	Sound	Strong	$480Credit	0.166%Above	192
18	Flagstar Bank, N.A. BankDirect & Wholesale	Strong	Acceptable*	Exceptional	Strong	Sound	$3,117Fees	0.639%Above	52
19	Fulton Bank, National Association BankDirect	Strong	Acceptable	Exceptional	Strong	Strong	$2,338Fees	0.287%Above	94
20	First Citizens Community Bank BankDirect	Strong	Sound	Sound	Sound	Exceptional	$2,239Fees	0.018%Above	184
21	Mid Penn Bank BankDirect	Strong	Strong	Sound	Acceptable	Strong	$1,102Fees	0.231%Above	79
22	Firstrust Savings Bank BankDirect	Sound	Sound	Sound	Sound	Strong	$1,522Fees	0.420%Above	107
23	Ixonia Bank BankDirect	Sound	Mediocre	Exceptional	Strong	Strong	$2,252Fees	0.165%Above	58
24	USAA Federal Savings Bank BankDirect	Sound	Sound	Strong	Acceptable	Sound	$1,853Fees	0.034%Below	42
25	Parke Bank BankWholesale	Sound	Mediocre*	Sound	Strong	Exceptional	$5,539Fees	0.169%Below	108

❓ Frequently Asked Questions

How are mortgage lenders ranked in Philadelphia, PA?+

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 Philadelphia, PA), 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 Philadelphia, PA?+

Based on 2024 HMDA data, 163 lenders originated a combined 17,577 loans in Philadelphia, PA. Safe Rate's rankings evaluate all of them — not just a curated shortlist.

What does the rate spread tell me about a lender in Philadelphia, PA?+

Rate spread measures how much above the Average Prime Offer Rate (APOR) a lender charges. The median rate spread in Philadelphia, PA is 0.31%. 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 Philadelphia, PA'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 40 Points)

Pricing

Rate and fee competitiveness (25%)

Pull Through

Reliability in closing loans (25%)

Product

Specialization in the loan type (25%)

Place

Local market expertise (25%)

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.