Applications / Mortgage Analytics / Lenders / Pennsylvania / State Financial Network
Philadelphia, PA · Non-bank or government lender · CFPB · 198 loans in 2025
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198
loans originated, 2025
216
applications, 2025
9
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
State Financial Network is a small non-bank lender of conventional home-purchase loans, based in Pennsylvania, that grew 10% in 2025 and began lending as far afield as South Carolina and Maine.
Purchases made up 75.8% of its loans and every loan was conventional, with no government-backed lending. Its typical loan was $225,000, against $365,000 at similar lenders, meaning non-bank or government lenders making between half and twice as many loans; that is lower than most of them. Manufactured homes took 3.0% of its lending, against almost none at peers.
None of its loans was higher-priced, meaning a rate well above the average for similar loans; at similar lenders the share was 1.6%. Its typical rate, 6.38%, was lower than about three-quarters of them. It turned down 1.4% of home-purchase applications, below the 3.9% typical of peers.
It made 1,087 loans in 2020 and 1,061 in 2021, then 325 in 2022. Volume has since steadied: 198 loans in 2025 against 180 a year earlier, growth level with the whole market's 10% and a little above peers' 7%.
Pennsylvania is home, but its shares are tiny everywhere: 0.1% in Pittsburgh and in Reading, where it slipped from 0.2%. In 2025 it made its first loans in Columbia, SC, Portland-South Portland, ME and non-metro North Carolina, and it now lends in nine states. Its share of loans to low- and moderate-income borrowers, 28.2%, was above the 23.0% typical of similar lenders.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. State Financial Network took 216 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 75.8% · Refinance 19.2% · Home improvement 2.5% · Other 2.5%
Conventional 100.0% · of 198 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Pennsylvania | 164 | 82.8% |
| Delaware | 14 | 7.1% |
| New Jersey | 14 | 7.1% |
| Florida | 1 | 0.5% |
| Maryland | 1 | 0.5% |
| Maine | 1 | 0.5% |
| North Carolina | 1 | 0.5% |
| New York | 1 | 0.5% |
| South Carolina | 1 | 0.5% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Pittsburgh | 63 |
| Philadelphia | 38 |
| Montgomery County-Bucks County-Chester County | 34 |
| Wilmington | 16 |
| Reading | 8 |
| Atlantic City-Hammonton | 6 |
| Harrisburg-Carlisle | 5 |
| Lancaster | 5 |
| Camden | 3 |
| Lakewood-New Brunswick | 2 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 5493000SW5GLNL7VNX12 | 2018–2025 |
Established 14 December 2012. Reported under HMDA 2018-2025.
Mergers, name changes, data editions and corrections: State Financial Network's data.
State Financial Network's data
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State Financial Network and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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