Which mortgage lender in the Rockford, IL area typically has the best rates? To help you narrow down where to shop for a mortgage, MortgageWaldo.com provides an objective and data driven ranking of mortgage lenders operating in the Rockford, IL area by interest rate and market share. We maintain our independence by not accepting any compensation from the mortgage lenders we rank, and use data on all fixed rate mortgages that were closed in the past year to generate our rankings.
Going by historical data, the best mortgage lender in the Rockford, IL area in terms of interest rate is Associated Bank, with an average “Rate Difference” of -0.16%. This means that, comparing similar borrowers, Associated Bank provided a -0.16% lower interest rate for its customers than other lenders in the area. Associated Bank has a market share of 2.3%. On the other hand, the most popular lender in the Rockford, IL area is Blackhawk Bank, with a larger market share of 15.4%. Blackhawk Bank is an average lender in terms of the interest rate it offers, with a “Rate Difference” of +0.03% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Rockford, IL area is shown in the table below. In the table, we also give our assessment of whether they are, on average, a cheap/expensive lender through a star rating system. You can choose to tailor our ranking table to a specific mortgage type (Conventional/Jumbo/FHA/VA) and purpose (purchase/refinance) through the drop-down menu. For example, going by historical data, the cheapest lender for Conventional mortgages in Rockford, IL is Associated Bank. If you want to take out a loan that is above conforming limits (above $548,250 or $822,375 depending on the area in 2021), the cheapest Jumbo mortgage provider is Fifth Third Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is US Bank. The cheapest VA mortgage provider is Navy Federal Credit Union. Note that as a consumer advocate we always recommend shopping among several of our top ranked lenders in order to get the best rates and fees.
Ranking of Mortgage Lenders in Rockford, IL
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| US Bank | -0.10% | 2.29% | |
| Midwest Community Bank | -0.09% | 13.85% | |
| Northwest Bank of Rockford | -0.07% | 1.72% | |
| Stillman Bank | -0.07% | 1.53% | |
| Plaza Home Mortgage | -0.07% | 1.91% | |
| First National Bank of Omaha | -0.06% | 1.24% | |
| PNC Bank | -0.05% | 0.57% | |
| Midland States Bank | -0.05% | 4.58% | |
| Fifth Third Bank | -0.04% | 0.38% | |
| Quicken Loans | -0.03% | 17.77% | |
| Guaranteed Rate | -0.03% | 1.91% | |
| Associated Bank | -0.03% | 0.29% | |
| Barrington Bank & Trust | -0.02% | 4.68% | |
| BMO Harris | -0.02% | 0.19% | |
| First State Mortgage Bloomington | -0.00% | 2.10% | |
| Caliber Home Loans | 0.00% | 1.62% | |
| Homeside Financial | 0.01% | 2.01% | |
| JPMorgan Chase Bank | 0.01% | 0.10% | |
| First Centennial Mortgage | 0.01% | 2.48% | |
| Carrington Mortgage Services | 0.03% | 3.15% | |
| Wells Fargo Bank | 0.03% | 0.10% | |
| Academy Mortgage Corporation Utah | 0.03% | 6.88% | |
| Blackhawk Bank | 0.04% | 7.93% | |
| New American Funding | 0.07% | 1.91% | |
| Mr. Cooper | 0.08% | 2.39% | |
| Platinum Home Mortgage Corporation | 0.10% | 8.12% | |
| Flagstar Bank | 0.11% | 2.10% | |
| Finance of America Mortgage | 0.12% | 2.87% | |
| loanDepot | 0.15% | 3.34% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| US Bank | -0.12% | 2.42% | |
| Midwest Community Bank | -0.09% | 16.71% | |
| Northwest Bank of Rockford | -0.08% | 1.82% | |
| Plaza Home Mortgage | -0.08% | 1.82% | |
| Quicken Loans | -0.07% | 11.38% | |
| Stillman Bank | -0.06% | 1.94% | |
| First National Bank of Omaha | -0.06% | 1.45% | |
| PNC Bank | -0.06% | 0.61% | |
| Midland States Bank | -0.05% | 5.21% | |
| Fifth Third Bank | -0.04% | 0.48% | |
| Guaranteed Rate | -0.03% | 2.06% | |
| Barrington Bank & Trust | -0.03% | 5.33% | |
| Associated Bank | -0.03% | 0.36% | |
| BMO Harris | -0.02% | 0.24% | |
| First State Mortgage Bloomington | -0.00% | 2.54% | |
| Homeside Financial | 0.01% | 1.94% | |
| Carrington Mortgage Services | 0.01% | 0.36% | |
| JPMorgan Chase Bank | 0.02% | 0.12% | |
| First Centennial Mortgage | 0.02% | 3.03% | |
| Caliber Home Loans | 0.03% | 1.33% | |
| Academy Mortgage Corporation Utah | 0.04% | 7.63% | |
| Blackhawk Bank | 0.04% | 9.93% | |
| Mr. Cooper | 0.10% | 1.33% | |
| Platinum Home Mortgage Corporation | 0.11% | 9.56% | |
| New American Funding | 0.12% | 1.57% | |
| Finance of America Mortgage | 0.12% | 3.63% | |
| Flagstar Bank | 0.13% | 2.18% | |
| loanDepot | 0.19% | 3.03% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Midwest Community Bank | -0.07% | 3.17% | |
| Caliber Home Loans | -0.05% | 2.71% | |
| Platinum Home Mortgage Corporation | -0.05% | 2.71% | |
| Plaza Home Mortgage | -0.04% | 2.26% | |
| Guaranteed Rate | -0.02% | 1.36% | |
| Midland States Bank | -0.02% | 2.26% | |
| PNC Bank | -0.02% | 0.45% | |
| New American Funding | -0.02% | 3.17% | |
| US Bank | -0.01% | 1.81% | |
| First Centennial Mortgage | -0.01% | 0.45% | |
| Quicken Loans | -0.01% | 41.63% | |
| First National Bank of Omaha | -0.01% | 0.45% | |
| Northwest Bank of Rockford | -0.01% | 1.36% | |
| Blackhawk Bank | -0.01% | 0.45% | |
| Academy Mortgage Corporation Utah | 0.00% | 4.07% | |
| First State Mortgage Bloomington | 0.01% | 0.45% | |
| Homeside Financial | 0.01% | 2.26% | |
| Wells Fargo Bank | 0.02% | 0.45% | |
| Carrington Mortgage Services | 0.02% | 13.57% | |
| Barrington Bank & Trust | 0.03% | 2.26% | |
| Flagstar Bank | 0.04% | 1.81% | |
| Mr. Cooper | 0.06% | 6.33% | |
| loanDepot | 0.06% | 4.52% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Fifth Third Bank | -0.00% | 66.67% | |
| PNC Bank | 0.00% | 16.67% | |
| Quicken Loans | 0.01% | 16.67% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Fifth Third Bank | -0.00% | 60.00% | |
| PNC Bank | 0.00% | 20.00% | |
| Quicken Loans | 0.01% | 20.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Fifth Third Bank | 0.00% | 100.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Navy Federal Credit Union | -0.13% | 8.72% | |
| USAA | -0.05% | 10.07% | |
| First State Mortgage Bloomington | -0.04% | 5.37% | |
| Caliber Home Loans | -0.03% | 3.36% | |
| US Bank | -0.01% | 5.37% | |
| Fifth Third Bank | -0.01% | 1.01% | |
| PNC Bank | -0.01% | 1.01% | |
| Associated Bank | -0.01% | 1.34% | |
| Blackhawk Bank | -0.00% | 5.70% | |
| loanDepot | -0.00% | 6.04% | |
| Homeside Financial | 0.01% | 0.67% | |
| Guaranteed Rate | 0.01% | 1.34% | |
| First Centennial Mortgage | 0.01% | 0.67% | |
| First National Bank of Omaha | 0.01% | 1.01% | |
| Wells Fargo Bank | 0.01% | 2.01% | |
| Barrington Bank & Trust | 0.01% | 1.68% | |
| Plaza Home Mortgage | 0.02% | 2.35% | |
| Midwest Community Bank | 0.02% | 10.07% | |
| Mr. Cooper | 0.02% | 1.34% | |
| JPMorgan Chase Bank | 0.02% | 0.67% | |
| New American Funding | 0.02% | 1.01% | |
| Platinum Home Mortgage Corporation | 0.03% | 1.68% | |
| Midland States Bank | 0.03% | 3.36% | |
| Flagstar Bank | 0.04% | 2.01% | |
| Finance of America Mortgage | 0.04% | 2.01% | |
| Carrington Mortgage Services | 0.06% | 3.02% | |
| Quicken Loans | 0.08% | 13.76% | |
| Academy Mortgage Corporation Utah | 0.08% | 3.36% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Navy Federal Credit Union | -0.12% | 12.82% | |
| USAA | -0.05% | 12.82% | |
| First State Mortgage Bloomington | -0.04% | 6.67% | |
| US Bank | 0.00% | 7.18% | |
| Fifth Third Bank | 0.00% | 1.03% | |
| PNC Bank | 0.01% | 1.54% | |
| Associated Bank | 0.01% | 1.54% | |
| Blackhawk Bank | 0.01% | 7.18% | |
| Guaranteed Rate | 0.02% | 0.51% | |
| First Centennial Mortgage | 0.03% | 1.03% | |
| First National Bank of Omaha | 0.03% | 0.51% | |
| Wells Fargo Bank | 0.03% | 3.08% | |
| Plaza Home Mortgage | 0.03% | 2.05% | |
| Caliber Home Loans | 0.03% | 2.05% | |
| Barrington Bank & Trust | 0.03% | 2.05% | |
| Mr. Cooper | 0.03% | 0.51% | |
| Midwest Community Bank | 0.03% | 13.33% | |
| JPMorgan Chase Bank | 0.03% | 1.03% | |
| Platinum Home Mortgage Corporation | 0.04% | 1.54% | |
| New American Funding | 0.05% | 0.51% | |
| loanDepot | 0.05% | 2.05% | |
| Midland States Bank | 0.06% | 3.59% | |
| Carrington Mortgage Services | 0.06% | 0.51% | |
| Finance of America Mortgage | 0.06% | 3.08% | |
| Quicken Loans | 0.06% | 4.62% | |
| Flagstar Bank | 0.08% | 2.05% | |
| Academy Mortgage Corporation Utah | 0.09% | 5.13% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Caliber Home Loans | -0.10% | 5.83% | |
| First State Mortgage Bloomington | -0.04% | 2.91% | |
| loanDepot | -0.04% | 13.59% | |
| Flagstar Bank | -0.04% | 1.94% | |
| Blackhawk Bank | -0.03% | 2.91% | |
| Associated Bank | -0.03% | 0.97% | |
| Fifth Third Bank | -0.03% | 0.97% | |
| Barrington Bank & Trust | -0.03% | 0.97% | |
| USAA | -0.03% | 4.85% | |
| Navy Federal Credit Union | -0.02% | 0.97% | |
| Midwest Community Bank | -0.02% | 3.88% | |
| Homeside Financial | -0.02% | 1.94% | |
| Midland States Bank | -0.02% | 2.91% | |
| US Bank | -0.02% | 1.94% | |
| Guaranteed Rate | -0.02% | 2.91% | |
| First National Bank of Omaha | -0.02% | 1.94% | |
| New American Funding | -0.01% | 1.94% | |
| Plaza Home Mortgage | -0.01% | 2.91% | |
| Mr. Cooper | -0.01% | 2.91% | |
| Platinum Home Mortgage Corporation | -0.00% | 1.94% | |
| Carrington Mortgage Services | 0.04% | 7.77% | |
| Quicken Loans | 0.06% | 31.07% |
* Data is compiled for the Rockford, IL commuting zone area, which comprises of counties of Boone County, IL, Carroll County, IL, Lee County, IL, Ogle County, IL, Stephenson County, IL, Whiteside County, IL, and Winnebago County, IL. This includes cities/towns/communities of Rockford, IL as well as Roscoe, IL, Belvidere, IL, Machesney Park, IL, Loves Park, IL, Timberlane, IL, Freeport, IL, Rockton, IL, Sterling, IL, Durand, IL, Dixon, IL, Rochelle, IL, Winnebago, IL, New Milford, IL, Hillcrest, IL, Rock Falls, IL, Pecatonica, IL, Byron, IL, Lost Nation, IL, Shannon, IL, Cedarville, IL, Leaf River, IL, Lake Summerset, IL, Creston, IL, Poplar Grove, IL, Mount Morris, IL, Lyndon, IL, Oregon, IL, Fulton, IL, Morrison, IL, Albany, IL, Paw Paw, IL, South Beloit, IL, Orangeville, IL, Grand Detour, IL, Franklin Grove, IL, Como, IL, Savanna, IL, Ashton, IL, Winslow, IL, Adeline, IL, Amboy, IL, Pearl City, IL, Prophetstown, IL, Tampico, IL, Nelson, IL, Thomson, IL, Lanark, IL, and Mount Carroll, IL. Lenders must have made at least 30 loans in the area to be included. Source of the data is Federal Financial Institutions Examination Council (FFIEC). Rate Difference (the average difference of interest rates relative to those of other lenders) were computed by subtracting the rate at origination from the average predicted rate conditional on the commuting zone, borrower LTV, DTI, Loan Amount, Loan Type, and Loan Purpose, and then regularized based on a Bayesian approach to account for smaller sample sizes. Above-average mortgage closing costs were then added to the rate difference at a rate of +0.15/point. Star ratings were determined in intervals of 0.10% in rate difference per half star.
Mortgage Lender Rankings in Other Cities
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