What Planet Home does

Planet Home Lending, LLC is a private, full-service US residential mortgage lender and servicer founded in 2007 and headquartered in Meriden, Connecticut, operating as the primary operating subsidiary of Planet Financial Group, LLC (also Meriden, CT). The company originates purchase, refinance, and cash-out mortgage loans across the credit spectrum, including Conventional, FHA, VA, USDA, Fannie Mae HomeReady, Freddie Mac Home Possible, Jumbo (up to $3 million), Non-QM bank statement, manufactured/mobile home, renovation (FHA 203(k), HomeStyle, CHOICERenovation), One Time Close construction-to-permanent, Bridge, and Home Equity Loan products. It also operates a proprietary Cash 4 Homes backup-cash-offer program backed by wholly-owned Planet Management Group (PMG). Origination is delivered through a distributed retail branch network spanning 20+ US states plus Puerto Rico, a national call center, direct-to-consumer self-serve online quote flows, a dedicated correspondent lending channel (Planet Home Lending Correspondent), and a specialized manufactured housing branch opened in December 2025.

Underlying technology is built around Black Knight's LoanSphere Servicing Digital customer portal (hosted at BKI Connect) for borrower self-service, third-party agency automated underwriting system integrations (Fannie Mae DU/HomeReady/HomeStyle/MH Advantage, Freddie Mac LPA/Home Possible/CHOICERenovation, FHA TOTAL Scorecard/203(k), VA DU/LP, USDA GUS), a separate Online Loan Solution Center for loss-mitigation workflow, and CoreLogic for tax bill processing. The servicing book of approximately $140 billion across roughly 500,000 customers is supported by an MSR hedging program that KBRA cited as a rating positive in May 2026.

Planet makes money through two primary mechanisms: (1) transaction-based loan origination income from gains on sale of mortgage loans into the secondary market across retail, distributed retail, and correspondent channels, supplemented by fees from the Cash 4 Homes program (3%-5% of purchase price) and renovation lending draw management; and (2) recurring servicing fee income on the $140 billion portfolio, including escrow, tax, and insurance disbursement plus MSR economics. Adjacent revenue streams include insurance agency commissions from Planet Insurance Agency (franchise partnership with Goosehead Insurance announced February 2026, providing access to 200+ carriers) and fix-and-flip financing from Planet Renovation Capital. The company rebranded from Planet Home Lending to simply "Planet" in March 2026 and received its first public debt ratings from KBRA in May 2026 (B+ issuer/senior unsecured for Planet Financial Group; BB- issuer for Planet Home Lending; both Stable Outlook), though core leverage stands at approximately 5x corporate debt-to-equity.

Name

Planet Home

Legal name

Planet Home Lending, LLC

Website

https://planethomelending.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Planet Home Lending is a private US mortgage lender and servicer (founded 2007, Meriden, CT) operating under Planet Financial Group. It originates purchase, refinance, and specialty loans through 20+ state retail branches and a correspondent channel, services a $140 billion portfolio for ~500,000 customers, and is rated B+/BB- by KBRA.

Ownership category

akta.pro rank

Product category

Residential Mortgage Lending and Servicing

NAICS

Real Estate Credit (522292), Nondepository Credit Intermediation (5222), Mortgage and Nonmortgage Loan Brokers (522310)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Government-Insured Mortgage Origination (FHA/VA/USDA) (FSALAAAI)

akta.pro secondary industries

Renovation Mortgage Origination (FHA 203(k), HomeStyle, CHOICERenovation) (FSALAAAL), Closed-End Home Equity Loans (Second Mortgages) (FSALAGAA), Government Wholesale Lending (FHA/VA/USDA) (FSALACAE)

Keywords

• Residential mortgage origination
• Loan servicing
• Mortgage refinance lending
• Government-backed home loans
• Jumbo mortgage lending

Headquarters

HQ city

Meriden

HQ country

United States

HQ region

North America

Offices12 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Loan Origination Income: Revenue from originating and selling mortgage loans (purchase, refinance, cash-out, FHA, VA, USDA, Jumbo, manufactured, construction, renovation, Non-QM, bank statement) through retail branches, distributed retail, and a correspondent channel (Planet Home Lending Correspondent). Includes gains on sale of loans into the secondary market.
2. Loan Servicing Fees: Recurring servicing fee income on a $140 billion servicing portfolio, including fees for payment processing, escrow management, tax and insurance disbursement, and loss-mitigation activities. Includes economics from Mortgage Servicing Rights (MSR) and an active MSR hedging program.
3. Insurance Agency Commissions: Commission revenue from Planet Insurance Agency, which delivers homeowners insurance shopping through a franchise partnership with Goosehead Insurance providing access to 200+ carriers.
4. Cash 4 Homes Program Fees: Fees of approximately 3%–5% of the purchase price for the proprietary Cash 4 Homes cash-offer backup program, plus interim lease revenue during the up-to-120-day leaseback period (waived in California).
5. Renovation Lending & Draw Management: Fees and float from FHA 203(k), Fannie Mae HomeStyle, Freddie Mac CHOICERenovation/CHOICEReno eXPress, and VA Alteration loans, including contractor draw management through the renovation team.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels9 records

Core offering

Planet Home Lending originates and services a broad catalog of residential mortgage loans for individual consumers, including agency (Fannie Mae HomeReady, Freddie Mac Home Possible), government (FHA, VA, USDA), non-conforming Jumbo, Non-QM, bank statement, renovation, construction-to-permanent, manufactured housing, bridge, home equity, and cash-out refinance products. It runs a distributed retail branch network across 20+ U.S. states plus Puerto Rico, a direct-to-consumer online channel, a correspondent lending channel, and a specialty loan servicing operation on a $140 billion portfolio.

Differentiator

Problem solved

Functional benefit

Brands

• Cash 4 Homes: Cash-offer / backup-purchase program under which Planet Management Group, LLC (a wholly-owned subsidiary) steps in to purchase the home if the buyer's financing fails to close on time.
• HomeReady
• One Time Close
• Planet Insurance Agency

Products and services

• FHA Loans
• VA Loans
• USDA Home Loans
• HomeReady Loans (Fannie Mae)
• Jumbo Mortgage Loans
• Refinance Mortgage
• Home Equity Loan (Second Mortgage)
• Bridge Loan
• Manufactured Housing Loans
• OTC (One Time Close) Manufactured Home Lending
• One Time Close Construction Loans
• Home Renovation Purchase and Refinance Loans
• Cash 4 Homes Program
• Buydown Mortgages
• Bank Statement Loans
• Investor Solutions Loans
• Fix and Flip Loans
• Loan Servicing (Planet Loan Servicing)

Quantifiable outcome

• 500,000 customers helped to date
• +3 more outcomes

Segments11 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature6 records

Partnerships

Five partnerships are on record, tiered flagship and core.

• Goosehead InsuranceflagshipStrategic or Co-development Partner · 5 February 2026Planet Insurance Agency announced a strategic franchise partnership with Goosehead Insurance to deliver a customer-first homeowners insurance shopping experience. Customers can compare coverage options from over 200 top-tier insurance carriers through a streamlined process, addressing rising premiums and declining coverage availability. The partnership also supports real estate agents, builders, and Planet teams by keeping transaction timelines on track.
• Goosehead Insurance (re-anchored partnership)coreGTM or Marketing Partner · 5 February 2026Cross-functional go-to-market partnership referenced alongside the broader strategic franchise agreement, supporting real estate agent, builder, and Planet team referrals for homeowners insurance at closing.
• Fannie MaecoreTechnology or Integration · 8 January 2026Planet Home Lending is an approved Fannie Mae HomeReady lender (HomeReady® Flexible Home Loans with as little as 3% down) and offers Fannie Mae HomeStyle renovation loans, MH Advantage manufactured-home loans, and CHOICERenovation (Freddie Mac) products. Fannie Mae guidelines allow qualified borrowers to cash out up to 80% of home value.
• Freddie MaccoreTechnology or Integration · 16 December 2025Planet offers Freddie Mac Home Possible loans, CHOICERenovation®, CHOICEReno eXPress®, and was named a Freddie Mac Home Possible RISE Winner. Freddie Mac guidelines allow qualified borrowers to cash out up to 80% of home value.
• CoreLogic (tax processing partner)18 November 2025

Scale indicators7 records

Recent moves13 records

Expansion highlights6 records

Broad incumbents

• Rocket Mortgage (Rocket Companies): Largest U.S. retail mortgage originator and servicer. Directly comparable to Planet as a national retail lender with a large servicing portfolio, but operates at materially greater scale and is publicly traded. Comparable along customer base (purchase and refinance), product breadth, and direct-to-consumer model.

Direct peers

• loanDepot: National retail and wholesale mortgage lender with a sizable servicing portfolio. Closely comparable to Planet in retail branch model, product breadth, and customer segments served, with similar exposure to rate cycles. Direct public-market peer.
• United Wholesale Mortgage: Largest U.S. wholesale mortgage lender with growing retail and servicing operations. Comparable to Planet's correspondent and distributed retail channels, and competes for the same loan officer talent. Publicly traded.
• PennyMac Financial Services: Vertically integrated mortgage banker combining direct origination, correspondent production, and a large subservicing/MSR portfolio. Direct public-market peer to Planet's combined origination-plus-servicing model.
• Fairway Independent Mortgage Corporation: Large, privately held retail mortgage lender with a distributed branch network model similar to Planet's. Comparable in product breadth (conventional, government, renovation) and in target segments (first-time, military, self-employed).
• Guaranteed Rate: Privately held, large national retail mortgage lender with comparable branch and direct-to-consumer distribution, similar product mix including renovation and government-insured loans, and similar customer segment focus.
• CrossCountry Mortgage: Privately held national retail mortgage lender with distributed branch model and broad product offering. Closely comparable in size, retail expansion strategy, and target customer segments including first-time and government-insured borrowers.
• NewRez (a Rithm Capital company): Vertically integrated mortgage originator and servicer (formerly New Penn Financial) with correspondent, retail, and subservicing channels. Comparable to Planet's full-stack origination-plus-servicing approach and product breadth.
• Caliber Home Loans: Privately held mortgage banker owned by Lone Star Funds with origination and servicing operations. Comparable in product mix (agency, government, renovation) and in leveraging a large servicing portfolio alongside retail production.
• Guild Mortgage: Public retail mortgage lender with distributed branch network and broad product set including government-insured, renovation, and manufactured housing loans. Comparable in retail expansion strategy, customer segments, and product breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights8 records

Customer concentration

• Xx.com/PHomeLending
• Facebookfacebook.com/PlanetHomeLending
• LinkedInlinkedin.com/company/planet-home-lending-llc

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries7 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Planet Home