Which mortgage lender in the Franklin, NC 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 Franklin, NC 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 Franklin, NC area in terms of interest rate is Wells Fargo Bank, with an average “Rate Difference” of -0.11%. This means that, comparing similar borrowers, Wells Fargo Bank provided a -0.11% lower interest rate for its customers than other lenders in the area. Wells Fargo Bank has a market share of 8.4%. On the other hand, the most popular lender in the Franklin, NC area is Quicken Loans, with a larger market share of 27.5%. Quicken Loans is an average lender in terms of the interest rate it offers, with a “Rate Difference” of +0.07% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Franklin, NC 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, Wells Fargo Bank is the cheapest mortgage provider for Conventional and Jumbo mortgages in Franklin, NC. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Renasant Bank. The cheapest VA mortgage provider is Atlantic Bay Mortgage Group. 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 Franklin, NC
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.11% | 8.37% | |
| Renasant Bank | -0.07% | 4.55% | |
| United Community Bank | -0.06% | 10.17% | |
| State Employees’ Credit Union | -0.06% | 7.89% | |
| USAA | -0.05% | 3.95% | |
| Truist Bank | -0.04% | 3.71% | |
| Regions Bank | -0.03% | 4.43% | |
| Atlantic Bay Mortgage Group | -0.01% | 7.78% | |
| First Citizens Bank | 0.01% | 5.14% | |
| HomeStar Financial | 0.06% | 16.51% | |
| Quicken Loans | 0.07% | 27.51% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.14% | 9.85% | |
| Regions Bank | -0.09% | 3.53% | |
| Renasant Bank | -0.08% | 5.58% | |
| USAA | -0.06% | 5.20% | |
| United Community Bank | -0.05% | 8.74% | |
| Truist Bank | -0.05% | 4.28% | |
| Atlantic Bay Mortgage Group | -0.01% | 10.41% | |
| First Citizens Bank | -0.00% | 5.02% | |
| State Employees’ Credit Union | 0.03% | 5.20% | |
| HomeStar Financial | 0.06% | 23.79% | |
| Quicken Loans | 0.09% | 18.40% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| State Employees’ Credit Union | -0.12% | 12.75% | |
| United Community Bank | -0.07% | 12.75% | |
| Truist Bank | -0.04% | 2.68% | |
| USAA | -0.03% | 1.68% | |
| Renasant Bank | -0.02% | 2.68% | |
| Wells Fargo Bank | -0.02% | 5.70% | |
| Atlantic Bay Mortgage Group | -0.01% | 3.02% | |
| HomeStar Financial | -0.00% | 3.36% | |
| Regions Bank | 0.03% | 6.04% | |
| First Citizens Bank | 0.03% | 5.37% | |
| Quicken Loans | 0.05% | 43.96% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.13% | 8.61% | |
| Renasant Bank | -0.07% | 4.15% | |
| USAA | -0.07% | 3.26% | |
| United Community Bank | -0.06% | 11.57% | |
| State Employees’ Credit Union | -0.06% | 9.79% | |
| Truist Bank | -0.05% | 3.71% | |
| Regions Bank | -0.04% | 4.45% | |
| First Citizens Bank | 0.01% | 5.79% | |
| Atlantic Bay Mortgage Group | 0.01% | 6.82% | |
| HomeStar Financial | 0.05% | 14.69% | |
| Quicken Loans | 0.09% | 27.15% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.16% | 10.51% | |
| Regions Bank | -0.10% | 3.97% | |
| Renasant Bank | -0.09% | 5.14% | |
| USAA | -0.07% | 4.44% | |
| Truist Bank | -0.05% | 4.44% | |
| United Community Bank | -0.05% | 9.81% | |
| First Citizens Bank | -0.00% | 5.84% | |
| Atlantic Bay Mortgage Group | 0.02% | 8.88% | |
| State Employees’ Credit Union | 0.02% | 6.54% | |
| HomeStar Financial | 0.06% | 21.26% | |
| Quicken Loans | 0.11% | 19.16% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| State Employees’ Credit Union | -0.12% | 15.45% | |
| United Community Bank | -0.08% | 14.63% | |
| Truist Bank | -0.05% | 2.44% | |
| USAA | -0.03% | 1.22% | |
| Renasant Bank | -0.02% | 2.44% | |
| Wells Fargo Bank | -0.02% | 5.28% | |
| HomeStar Financial | -0.01% | 3.25% | |
| Atlantic Bay Mortgage Group | -0.01% | 3.25% | |
| First Citizens Bank | 0.04% | 5.69% | |
| Regions Bank | 0.04% | 5.28% | |
| Quicken Loans | 0.07% | 41.06% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Renasant Bank | -0.08% | 8.45% | |
| Atlantic Bay Mortgage Group | -0.07% | 14.08% | |
| United Community Bank | -0.03% | 4.23% | |
| Regions Bank | -0.02% | 1.41% | |
| Quicken Loans | -0.01% | 33.80% | |
| Wells Fargo Bank | 0.01% | 1.41% | |
| HomeStar Financial | 0.06% | 36.62% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Renasant Bank | -0.08% | 11.11% | |
| Atlantic Bay Mortgage Group | -0.07% | 16.67% | |
| Quicken Loans | -0.03% | 18.52% | |
| United Community Bank | -0.02% | 5.56% | |
| Regions Bank | -0.02% | 1.85% | |
| Wells Fargo Bank | 0.01% | 1.85% | |
| HomeStar Financial | 0.06% | 44.44% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Atlantic Bay Mortgage Group | -0.01% | 5.88% | |
| Quicken Loans | -0.00% | 82.35% | |
| HomeStar Financial | 0.02% | 11.76% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.03% | 41.67% | |
| Truist Bank | 0.02% | 20.83% | |
| Atlantic Bay Mortgage Group | 0.02% | 4.17% | |
| Quicken Loans | 0.02% | 4.17% | |
| Regions Bank | 0.03% | 25.00% | |
| United Community Bank | 0.03% | 4.17% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.03% | 54.55% | |
| Truist Bank | 0.03% | 27.27% | |
| Atlantic Bay Mortgage Group | 0.04% | 9.09% | |
| Regions Bank | 0.04% | 9.09% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.02% | 30.77% | |
| Truist Bank | 0.00% | 15.38% | |
| Quicken Loans | 0.01% | 7.69% | |
| Regions Bank | 0.01% | 38.46% | |
| United Community Bank | 0.01% | 7.69% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Atlantic Bay Mortgage Group | -0.05% | 11.94% | |
| First Citizens Bank | -0.04% | 5.97% | |
| Renasant Bank | -0.04% | 5.97% | |
| USAA | -0.03% | 16.42% | |
| United Community Bank | -0.02% | 4.48% | |
| Truist Bank | -0.02% | 1.49% | |
| Wells Fargo Bank | -0.00% | 1.49% | |
| Quicken Loans | 0.00% | 32.84% | |
| HomeStar Financial | 0.08% | 19.40% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Atlantic Bay Mortgage Group | -0.05% | 17.78% | |
| Renasant Bank | -0.05% | 4.44% | |
| First Citizens Bank | -0.04% | 4.44% | |
| USAA | -0.03% | 20.00% | |
| Quicken Loans | -0.02% | 15.56% | |
| United Community Bank | -0.02% | 4.44% | |
| Truist Bank | -0.02% | 2.22% | |
| Wells Fargo Bank | -0.00% | 2.22% | |
| HomeStar Financial | 0.08% | 28.89% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Citizens Bank | -0.03% | 9.09% | |
| United Community Bank | -0.02% | 4.55% | |
| USAA | -0.02% | 9.09% | |
| Renasant Bank | -0.02% | 9.09% | |
| Quicken Loans | 0.01% | 68.18% |
* Data is compiled for the Franklin, NC commuting zone area, which comprises of counties of Rabun County, GA, Jackson County, NC, Macon County, NC, and Swain County, NC. This includes cities/towns/communities of Franklin, NC as well as Cashiers, NC, Bryson City, NC, Sylva, NC, Highlands, NC, Tallulah Falls, GA, Cullowhee, NC, Dillard, GA, Glenville, NC, Mountain City, GA, Clayton, GA, Cherokee, NC, and Cherokee, NC. 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 Franklin, NC area. For mortgage lender rankings in other cities, click here.