Top Mortgage Lenders in Ottawa, IL

Which mortgage lender in the Ottawa, 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 Ottawa, IL area by interest rate and market share. Unlike our competitors, we maintain independence by not accepting any compensation from the mortgage lenders we rank. We 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 Ottawa, IL area in terms of interest rate is First State Bank IL, with an average “Rate Difference” of -0.13%. This means that, comparing similar borrowers, First State Bank IL provided a -0.13% lower interest rate for its customers than other lenders in the area. First State Bank IL has a market share of 24.7%. It is the most popular lender in the Ottawa, IL area.

Our detailed ranking of mortgage lenders in the Ottawa, 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, the cheapest lender for Conventional mortgages in Ottawa, IL is First State Bank IL. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Caliber Home Loans. The cheapest VA mortgage provider is Guaranteed Rate. 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 Ottawa, IL

Mortgage Type:
Purchase/Refinance:
Lender NameRate DifferenceRate RatingMarket Share
First State Bank IL-0.13%(4.0)24.72%
Heartland Bank and Trust Company-0.04%(3.5)7.12%
Town and Country Bank0.01%(3.5)5.45%
Wells Fargo Bank0.01%(3.5)11.45%
Caliber Home Loans0.03%(3.5)10.34%
Guaranteed Rate0.05%(3.0)7.68%
BancMac0.06%(3.0)5.59%
Quicken Loans0.07%(3.0)11.87%
Financial Plus Credit Union – Illinois0.09%(3.0)15.78%
Lender NameRate DifferenceRate RatingMarket Share
First State Bank IL-0.09%(4.0)21.08%
Heartland Bank and Trust Company-0.04%(3.5)6.32%
Wells Fargo Bank-0.03%(3.5)14.29%
Town and Country Bank0.00%(3.5)7.73%
Caliber Home Loans0.01%(3.5)11.24%
Quicken Loans0.05%(3.5)9.37%
BancMac0.05%(3.0)9.13%
Guaranteed Rate0.05%(3.0)11.01%
Financial Plus Credit Union – Illinois0.10%(3.0)9.84%
Lender NameRate DifferenceRate RatingMarket Share
First State Bank IL-0.17%(4.5)30.10%
Heartland Bank and Trust Company-0.03%(3.5)8.30%
Town and Country Bank0.01%(3.5)2.08%
Guaranteed Rate0.02%(3.5)2.77%
BancMac0.04%(3.5)0.35%
Caliber Home Loans0.07%(3.0)9.00%
Financial Plus Credit Union – Illinois0.09%(3.0)24.57%
Quicken Loans0.10%(3.0)15.57%
Wells Fargo Bank0.12%(3.0)7.27%
Lender NameRate DifferenceRate RatingMarket Share
First State Bank IL-0.13%(4.0)30.84%
Heartland Bank and Trust Company-0.03%(3.5)8.71%
Town and Country Bank-0.01%(3.5)3.14%
Wells Fargo Bank0.01%(3.5)11.67%
BancMac0.06%(3.0)6.45%
Guaranteed Rate0.06%(3.0)6.45%
Caliber Home Loans0.06%(3.0)6.10%
Financial Plus Credit Union – Illinois0.10%(3.0)19.69%
Quicken Loans0.15%(3.0)6.97%
Lender NameRate DifferenceRate RatingMarket Share
First State Bank IL-0.09%(4.0)28.04%
Heartland Bank and Trust Company-0.04%(3.5)8.10%
Wells Fargo Bank-0.04%(3.5)14.64%
Town and Country Bank-0.02%(3.5)4.36%
Caliber Home Loans0.03%(3.5)5.92%
BancMac0.05%(3.0)11.21%
Guaranteed Rate0.07%(3.0)9.35%
Financial Plus Credit Union – Illinois0.11%(3.0)13.08%
Quicken Loans0.13%(3.0)5.30%
Lender NameRate DifferenceRate RatingMarket Share
First State Bank IL-0.17%(4.5)34.39%
Heartland Bank and Trust Company-0.02%(3.5)9.49%
Town and Country Bank0.01%(3.5)1.58%
Guaranteed Rate0.03%(3.5)2.77%
BancMac0.04%(3.5)0.40%
Financial Plus Credit Union – Illinois0.09%(3.0)28.06%
Caliber Home Loans0.11%(3.0)6.32%
Wells Fargo Bank0.13%(3.0)7.91%
Quicken Loans0.16%(2.5)9.09%
Lender NameRate DifferenceRate RatingMarket Share
Caliber Home Loans-0.02%(3.5)31.37%
Quicken Loans-0.01%(3.5)39.22%
Heartland Bank and Trust Company0.00%(3.5)0.98%
Town and Country Bank0.02%(3.5)10.78%
Wells Fargo Bank0.03%(3.5)2.94%
Guaranteed Rate0.03%(3.5)14.71%
Lender NameRate DifferenceRate RatingMarket Share
Quicken Loans-0.03%(3.5)27.03%
Caliber Home Loans-0.02%(3.5)33.78%
Heartland Bank and Trust Company0.01%(3.5)1.35%
Town and Country Bank0.03%(3.5)14.86%
Wells Fargo Bank0.03%(3.5)4.05%
Guaranteed Rate0.04%(3.5)18.92%
Lender NameRate DifferenceRate RatingMarket Share
Caliber Home Loans-0.01%(3.5)25.00%
Quicken Loans0.00%(3.5)71.43%
Guaranteed Rate0.01%(3.5)3.57%
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Lender NameRate DifferenceRate RatingMarket Share
Guaranteed Rate-0.01%(3.5)7.50%
Caliber Home Loans-0.01%(3.5)17.50%
Town and Country Bank-0.01%(3.5)25.00%
Quicken Loans0.01%(3.5)12.50%
Wells Fargo Bank0.01%(3.5)30.00%
BancMac0.03%(3.5)7.50%
Lender NameRate DifferenceRate RatingMarket Share
Guaranteed Rate-0.02%(3.5)9.38%
Town and Country Bank-0.01%(3.5)25.00%
Quicken Loans0.00%(3.5)9.38%
Caliber Home Loans0.00%(3.5)12.50%
Wells Fargo Bank0.01%(3.5)34.38%
BancMac0.03%(3.5)9.38%
Lender NameRate DifferenceRate RatingMarket Share
Caliber Home Loans-0.03%(3.5)37.50%
Town and Country Bank0.01%(3.5)25.00%
Quicken Loans0.02%(3.5)25.00%
Wells Fargo Bank0.02%(3.5)12.50%

* Data is compiled for the Ottawa, IL commuting zone area, which comprises of counties of Bureau County, IL, La Salle County, IL, and Putnam County, IL. This includes cities/towns/communities of Ottawa, IL as well as Lake Holiday, IL, Peru, IL, Dayton, IL, Streator, IL, Marseilles, IL, Princeton, IL, Mendota, IL, Leland, IL, LaSalle, IL, Ransom, IL, Earlville, IL, Hennepin, IL, Wyanet, IL, Dalzell, IL, La Moille, IL, Wenona, IL, Spring Valley, IL, Malden, IL, Sheffield, IL, Oglesby, IL, New Bedford, IL, Hollowayville, IL, Cedar Point, IL, and Mark, 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

This page contains information about the top mortgage lenders in the Ottawa, IL area. For mortgage lender rankings in other cities, click here.