Are you in your HGTV era, trying to become the next fix-and-flip star? Looking to get a spec home funded? Maybe you want to generate short-term rental income or become a landlord for a whole building. Whatever your investment property goal, you’re not alone.
Lenders originated nearly 332,000 investment property loans in 2025, according to the latest Home Mortgage Disclosure Act (HMDA) data. This sector of the purchase market grew 4.6% annually and 15.7% from two years prior.
| Year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Investment Purchase Originations | 279,177 | 415,992 | 387,678 | 286,701 | 317,204 | 331,844 |
| Originations YoY% | -8.30% | 49.01% | -6.81% | -26.05% | 10.64% | 4.62% |
| Active lenders | 3,726 | 3,682 | 3,746 | 4,192 | 4,033 | 3,929 |
| Median Loan Amount | $155,000 | $195,000 | $215,000 | $205,000 | $225,000 | $235,000 |
| Median Property Value | $225,000 | $275,000 | $315,000 | $315,000 | $335,000 | $345,000 |
| Median Applicant Income | $138,000 | $146,000 | $152,000 | $165,000 | $172,000 | $166,000 |
If an investment property is your game, it’s worth finding a lender that closes a lot of these loans. Experienced lenders may even offer bonus resources like cash flow estimates, rental market insights, and landlord advice.
In the case of Kiavi — which held the top spot for 2024 and 2025 — the lender offers quick, online estimates so investors can analyze their next deal. According to their website, their platform analyzes a few key details to provide estimates such as:
After-repair value (ARV)
Cash to close
Interest rate
According to Kiavi CEO Arvind Mohan, the company’s success is all based on data:
“These models remove traditional barriers to financing, automate manual processes, and provide quick decisioning throughout the entire process,” said Mohan. “Real estate investors are not submitting a deal and waiting for somebody to return with an answer a few days later. That clarity allows them to pursue deals faster and more confidently. It also enables them to close much faster than traditional lenders with manual processes, a key factor to winning deals in tight markets.”
Top 10 Lenders by Investment Mortgages Completed in 2025
To find the leading lenders in this market segment, Mortgage Research Network analyzed the most recent HMDA data and discovered 3,929 lenders originated 331,844 residential investment property purchase mortgages in 2025.
This dataset had a median loan amount of $235,000; a median property value of $345,000; and a median borrower income of $166,000. The year’s top 10 lenders accounted for almost a quarter (23.47%) of that volume, ranked below by loans completed.
| 2025 Rank | Lender Name | Originations | Lender Market Share | YoY | 2024 Rank |
|---|---|---|---|---|---|
| 1 | Kiavi Funding | 18,839 | 5.68% | 15.00% | 1 |
| 2 | United Wholesale Mortgage | 16,330 | 4.92% | 3.00% | 2 |
| 3 | CrossCountry Mortgage | 7,325 | 2.21% | 9.80% | 5 |
| 4 | The Loan Store | 6,560 | 1.98% | 97.90% | 8 |
| 5 | Rocket Mortgage | 6,384 | 1.92% | -17.90% | 3 |
| 6 | Lennar Mortgage | 6,127 | 1.85% | -11.80% | 4 |
| 7 | Loan Funder | 5,357 | 1.61% | -0.30% | 6 |
| 8 | Pennymac | 3,947 | 1.19% | 32.10% | 10 |
| 9 | RF Renovo Management | 3,518 | 1.06% | 55.40% | 20 |
| 10 | Guaranteed Rate | 3,483 | 1.05% | 19.30% | 11 |
Top Lenders by Completed Investment Property Loans
Let's take a quick look at the top 10 mortgage lenders ranked by the number of investment purchase loans they completed in 2025.
1. Kiavi Funding
Established in 2013, Kiavi credits back-to-back first place finishes with its ability to scale due to data gathering and tech development.
“Our early days were spent learning about customer needs across different segments and geographies. Today, Kiavi’s unique technology platform is underpinned by more than 22 billion data points from more than 100,000 transactions,” Mohan said. “Creating an unmatched data advantage delivers better, more accurate insights and faster, more reliable capital for our customers – so they can scale their businesses. That’s how we’ve become the top non-bank lender to real estate investors."
2. United Wholesale Mortgage
If you haven’t heard of “UWM,” that’s not surprising. UWM is a wholesale lender — meaning smaller mortgage brokers take borrower applications and send the full loan file to UWM for underwriting. Wholesale lenders can be thought of as the “engine” behind this mortgage process. Fittingly, United Wholesale Mortgage was founded in 1986 in the automobile manufacturing locus of Pontiac, Mich., and was also #2 on the list of largest VA lenders for the year
3. CrossCountry Mortgage
Founded in 2003, Cleveland-based CrossCountry Mortgage has 7,000+ employees and 700 branches across all 50 states, plus Washington D.C. and Puerto Rico, making it one of the country’s largest lenders.
4. The Loan Store
Up four spots from last year, The Loan Store is another wholesale lender. According to its website, TLS prides itself on fast turn times and offering multiple non-QM products for flexible lending.
5. Rocket Mortgage
A leader in the digital mortgage movement and a name becoming synonymous with online financing, the massive Detroit lender leverages its technology to help homebuyers across the country. Though it landed at #5, it slipped two spots from 2024. The company was, however, the fourth largest retail lender last year.
6. Lennar Mortgage
Another top-10 investment property lender slipping two spots from the year before, Miami-based Lennar Mortgage was founded in 1973 and serves 30 states with 57 branches around the country. It is also the official affiliated lender of Lennar Homes, the second largest builder in the U.S. according to Builder Magazine.
7. Loan Funder
The New York-based Loan Funder specializes in real estate investment and development, helping borrowers maximize ROI “through transparency, tailored solutions, and unwavering support,” according to its website.
8. Pennymac
Headquartered in Westlake Village, Calif., with 15 locations nationwide, the mostly online lender and servicer was founded in 2008 during the subprime mortgage crisis and bought many distressed home loans during that time. Pennymac was also the #7 biggest lender for cash-out refinances in 2025.
9. RF Renovo Management
Also known as Renovo Financial, RF Renovo took the biggest jump among this year’s top 10, rising from 20th overall in 2024. The Chicago-based lender was founded in 2011 and specializes in real estate investment loans.
10. Guaranteed Rate
Guaranteed Rate moved up one spot from the year ago to round out 2025’s top 10 investment lenders. The Chicago-based lender holds the naming rights for the White Sox stadium and has over 200 physical locations in the U.S.. With its home field advantage, the company was unsurprisingly the year's largest retail lender in Illinois.
Find the Right Lender for You
Finding the right lender is all about personal preference and agreeable terms. For an investment purchase, you'll probably want a lender that specializes in financing the kind of property you’re buying. That way, they can help figure out the best loan type for you.
Just like getting a mortgage for your primary residence, getting multiple quotes may potentially help you negotiate a better interest rate and a lower monthly cost. If you’re ready to take the next step, contact a local lender to get started.
All figures based on 2025 Home Mortgage Disclosure Act (HMDA) data provided by the Consumer Financial Protection Bureau (CFPB) and accessed April 27, 2026, through PolygonResearch.com HMDAVision.
