Which mortgage lender in the Huntsville, AL 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 Huntsville, AL 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 Huntsville, AL area in terms of interest rate is Progress Bank and Trust, with an average “Rate Difference” of -0.18%. This means that, comparing similar borrowers, Progress Bank and Trust provided a -0.18% lower interest rate for its customers than other lenders in the area. Progress Bank and Trust has a market share of 2.9%. On the other hand, the most popular lender in the Huntsville, AL area is Redstone Federal Credit Union, with a larger market share of 9.0%. Redstone Federal Credit Union is an average lender in terms of the interest rate it offers, with a “Rate Difference” of +0.04% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Huntsville, AL 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 Huntsville, AL is Progress Bank and Trust. 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 Synovus Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Trustmark National 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 Huntsville, AL
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Synovus Bank | -0.03% | 8.82% | |
| Regions Bank | -0.02% | 15.69% | |
| Wells Fargo Bank | -0.01% | 8.82% | |
| BBVA | -0.01% | 16.67% | |
| Trustmark National Bank | 0.01% | 3.92% | |
| Renasant Bank | 0.01% | 4.90% | |
| PrimeLending | 0.01% | 0.98% | |
| MortgageRight | 0.01% | 0.98% | |
| Hometown Lenders | 0.01% | 0.98% | |
| Navy Federal Credit Union | 0.01% | 0.98% | |
| Quicken Loans | 0.01% | 1.96% | |
| Movement Mortgage | 0.01% | 0.98% | |
| Bank of America | 0.01% | 1.96% | |
| Truist Bank | 0.01% | 1.96% | |
| CenterState Bank | 0.01% | 5.88% | |
| Certainty Home Loans | 0.02% | 1.96% | |
| Cadence Bank | 0.02% | 0.98% | |
| US Bank | 0.02% | 2.94% | |
| loanDepot | 0.02% | 0.98% | |
| GMFS Mortgage | 0.02% | 1.96% | |
| JPMorgan Chase Bank | 0.02% | 3.92% | |
| Avadian Credit Union | 0.02% | 0.98% | |
| IBERIABANK | 0.02% | 4.90% | |
| FirstBank TN | 0.03% | 4.90% | |
| Caliber Home Loans | 0.04% | 0.98% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Regions Bank | -0.03% | 18.75% | |
| Synovus Bank | -0.03% | 7.81% | |
| BBVA | -0.02% | 9.38% | |
| Wells Fargo Bank | -0.01% | 10.94% | |
| Truist Bank | 0.00% | 1.56% | |
| Renasant Bank | 0.01% | 6.25% | |
| Trustmark National Bank | 0.01% | 3.12% | |
| PrimeLending | 0.01% | 1.56% | |
| MortgageRight | 0.01% | 1.56% | |
| Bank of America | 0.01% | 1.56% | |
| Navy Federal Credit Union | 0.01% | 1.56% | |
| Movement Mortgage | 0.01% | 1.56% | |
| Quicken Loans | 0.02% | 1.56% | |
| Certainty Home Loans | 0.02% | 3.12% | |
| Cadence Bank | 0.02% | 1.56% | |
| CenterState Bank | 0.02% | 6.25% | |
| IBERIABANK | 0.02% | 1.56% | |
| loanDepot | 0.02% | 1.56% | |
| GMFS Mortgage | 0.02% | 3.12% | |
| JPMorgan Chase Bank | 0.03% | 4.69% | |
| US Bank | 0.03% | 1.56% | |
| FirstBank TN | 0.03% | 7.81% | |
| Caliber Home Loans | 0.04% | 1.56% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Synovus Bank | -0.03% | 10.53% | |
| Wells Fargo Bank | -0.01% | 5.26% | |
| BBVA | -0.01% | 28.95% | |
| Trustmark National Bank | 0.00% | 5.26% | |
| Renasant Bank | 0.00% | 2.63% | |
| CenterState Bank | 0.00% | 5.26% | |
| Regions Bank | 0.00% | 10.53% | |
| Quicken Loans | 0.00% | 2.63% | |
| Hometown Lenders | 0.00% | 2.63% | |
| Bank of America | 0.01% | 2.63% | |
| US Bank | 0.01% | 5.26% | |
| JPMorgan Chase Bank | 0.02% | 2.63% | |
| Truist Bank | 0.02% | 2.63% | |
| Avadian Credit Union | 0.02% | 2.63% | |
| IBERIABANK | 0.02% | 10.53% |
* Data is compiled for the Huntsville, AL commuting zone area, which comprises of counties of Cullman County, AL, Lawrence County, AL, Limestone County, AL, Madison County, AL, Morgan County, AL, and Lincoln County, TN. This includes cities/towns/communities of Huntsville, AL as well as Decatur, AL, Madison, AL, Athens, AL, Harvest, AL, Hartselle, AL, Meridianville, AL, New Market, AL, Priceville, AL, Cullman, AL, West Point, AL, Gurley, AL, Hazel Green, AL, South Vinemont, AL, Park City, TN, Decatur, AL, Fayetteville, TN, Ardmore, AL, East Point, AL, Trinity, AL, Moulton, AL, Dodge City, AL, Elkmont, AL, Owens Cross Roads, AL, Flintville, TN, Lester, AL, Eva, AL, Holly Pond, AL, Somerville, AL, Baileyton, AL, Garden City, AL, Hatton, AL, Ardmore, TN, North Courtland, AL, Good Hope, AL, Petersburg, TN, and Hillsboro, AL. 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
This page contains information about the top mortgage lenders in the Huntsville, AL area. For mortgage lender rankings in other cities, click here.