Which mortgage lender in the Binghamton, NY 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 Binghamton, NY 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 Binghamton, NY area in terms of interest rate is SEFCU, with an average “Rate Difference” of -0.15%. This means that, comparing similar borrowers, SEFCU provided a -0.15% lower interest rate for its customers than other lenders in the area. SEFCU has a market share of 5.3%. On the other hand, the most popular lender in the Binghamton, NY area is Visions Federal Credit Union, with a larger market share of 19.0%. Visions Federal Credit Union is also a relatively cheap lender, with a “Rate Difference” of -0.13% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Binghamton, NY 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 Binghamton, NY is SEFCU. 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 M&T Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Homestead Funding Corp. The cheapest VA mortgage provider is Elmira Savings Bank. 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 Binghamton, NY
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| SEFCU | -0.15% | 5.32% | |
| Visions Federal Credit Union | -0.13% | 19.05% | |
| NBT Bank | -0.10% | 4.50% | |
| Homestead Funding Corp | -0.08% | 17.31% | |
| Peoples Security Bank and Trust Company | -0.06% | 3.64% | |
| Elmira Savings Bank | -0.05% | 2.12% | |
| 1st Priority Mortgage, Inc | 0.05% | 6.13% | |
| Summit Mortgage Corporation | 0.05% | 1.68% | |
| Plaza Home Mortgage | 0.06% | 3.96% | |
| M&T Bank | 0.06% | 8.84% | |
| USAA | 0.07% | 1.74% | |
| Wells Fargo Bank | 0.08% | 2.33% | |
| Mr. Cooper | 0.10% | 1.95% | |
| Movement Mortgage | 0.14% | 3.58% | |
| Quicken Loans | 0.17% | 14.00% | |
| Community Bank NA | 0.21% | 3.85% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Visions Federal Credit Union | -0.18% | 17.19% | |
| SEFCU | -0.12% | 5.78% | |
| NBT Bank | -0.08% | 4.73% | |
| Homestead Funding Corp | -0.06% | 23.72% | |
| Elmira Savings Bank | -0.03% | 2.40% | |
| Peoples Security Bank and Trust Company | 0.03% | 2.10% | |
| 1st Priority Mortgage, Inc | 0.06% | 8.26% | |
| M&T Bank | 0.07% | 7.51% | |
| Summit Mortgage Corporation | 0.07% | 2.25% | |
| Wells Fargo Bank | 0.07% | 2.10% | |
| USAA | 0.09% | 2.18% | |
| Plaza Home Mortgage | 0.10% | 4.13% | |
| Mr. Cooper | 0.12% | 1.65% | |
| Movement Mortgage | 0.17% | 4.58% | |
| Quicken Loans | 0.23% | 8.18% | |
| Community Bank NA | 0.32% | 3.23% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| SEFCU | -0.25% | 4.11% | |
| Peoples Security Bank and Trust Company | -0.16% | 7.63% | |
| NBT Bank | -0.14% | 3.91% | |
| Elmira Savings Bank | -0.08% | 1.37% | |
| Plaza Home Mortgage | -0.06% | 3.52% | |
| Visions Federal Credit Union | -0.05% | 23.87% | |
| USAA | -0.01% | 0.59% | |
| Homestead Funding Corp | -0.01% | 0.59% | |
| Summit Mortgage Corporation | -0.01% | 0.20% | |
| Movement Mortgage | 0.02% | 0.98% | |
| 1st Priority Mortgage, Inc | 0.02% | 0.59% | |
| Community Bank NA | 0.03% | 5.48% | |
| M&T Bank | 0.04% | 12.33% | |
| Mr. Cooper | 0.07% | 2.74% | |
| Wells Fargo Bank | 0.09% | 2.94% | |
| Quicken Loans | 0.11% | 29.16% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| SEFCU | -0.18% | 5.51% | |
| Visions Federal Credit Union | -0.13% | 28.42% | |
| NBT Bank | -0.11% | 5.99% | |
| Peoples Security Bank and Trust Company | -0.06% | 5.43% | |
| Elmira Savings Bank | -0.05% | 1.62% | |
| Homestead Funding Corp | -0.04% | 12.55% | |
| Plaza Home Mortgage | -0.00% | 0.97% | |
| Summit Mortgage Corporation | 0.05% | 0.81% | |
| M&T Bank | 0.08% | 9.55% | |
| Wells Fargo Bank | 0.09% | 3.24% | |
| 1st Priority Mortgage, Inc | 0.10% | 4.45% | |
| Mr. Cooper | 0.11% | 1.13% | |
| USAA | 0.12% | 0.97% | |
| Movement Mortgage | 0.18% | 2.43% | |
| Community Bank NA | 0.22% | 5.75% | |
| Quicken Loans | 0.26% | 11.17% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Visions Federal Credit Union | -0.17% | 28.10% | |
| SEFCU | -0.14% | 5.89% | |
| NBT Bank | -0.09% | 6.63% | |
| Elmira Savings Bank | -0.02% | 1.72% | |
| Homestead Funding Corp | -0.02% | 18.90% | |
| Plaza Home Mortgage | 0.02% | 0.86% | |
| Peoples Security Bank and Trust Company | 0.04% | 3.44% | |
| Summit Mortgage Corporation | 0.07% | 1.23% | |
| Wells Fargo Bank | 0.09% | 3.07% | |
| Mr. Cooper | 0.09% | 0.49% | |
| M&T Bank | 0.09% | 7.24% | |
| 1st Priority Mortgage, Inc | 0.12% | 6.38% | |
| USAA | 0.15% | 1.35% | |
| Movement Mortgage | 0.21% | 3.31% | |
| Quicken Loans | 0.32% | 6.13% | |
| Community Bank NA | 0.34% | 5.28% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| SEFCU | -0.27% | 4.76% | |
| Peoples Security Bank and Trust Company | -0.16% | 9.29% | |
| NBT Bank | -0.14% | 4.76% | |
| Elmira Savings Bank | -0.10% | 1.43% | |
| Visions Federal Credit Union | -0.06% | 29.05% | |
| Plaza Home Mortgage | -0.05% | 1.19% | |
| USAA | -0.01% | 0.24% | |
| Homestead Funding Corp | -0.00% | 0.24% | |
| 1st Priority Mortgage, Inc | 0.02% | 0.71% | |
| Community Bank NA | 0.03% | 6.67% | |
| Movement Mortgage | 0.03% | 0.71% | |
| M&T Bank | 0.04% | 14.05% | |
| Wells Fargo Bank | 0.08% | 3.57% | |
| Mr. Cooper | 0.09% | 2.38% | |
| Quicken Loans | 0.19% | 20.95% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Homestead Funding Corp | -0.14% | 27.88% | |
| SEFCU | -0.09% | 5.25% | |
| Elmira Savings Bank | -0.05% | 2.83% | |
| 1st Priority Mortgage, Inc | -0.00% | 10.30% | |
| NBT Bank | 0.01% | 1.62% | |
| M&T Bank | 0.04% | 8.08% | |
| Wells Fargo Bank | 0.06% | 0.40% | |
| Summit Mortgage Corporation | 0.06% | 2.63% | |
| Quicken Loans | 0.08% | 20.00% | |
| Plaza Home Mortgage | 0.09% | 10.51% | |
| Mr. Cooper | 0.12% | 3.64% | |
| Movement Mortgage | 0.13% | 6.87% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Homestead Funding Corp | -0.14% | 32.16% | |
| SEFCU | -0.10% | 5.87% | |
| Elmira Savings Bank | -0.05% | 3.29% | |
| 1st Priority Mortgage, Inc | -0.00% | 11.97% | |
| NBT Bank | 0.02% | 1.88% | |
| M&T Bank | 0.05% | 8.69% | |
| Wells Fargo Bank | 0.06% | 0.47% | |
| Summit Mortgage Corporation | 0.06% | 3.05% | |
| Plaza Home Mortgage | 0.11% | 10.09% | |
| Movement Mortgage | 0.14% | 7.51% | |
| Mr. Cooper | 0.15% | 3.29% | |
| Quicken Loans | 0.15% | 11.74% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Plaza Home Mortgage | -0.04% | 13.04% | |
| Homestead Funding Corp | 0.00% | 1.45% | |
| M&T Bank | 0.00% | 4.35% | |
| Quicken Loans | 0.00% | 71.01% | |
| Movement Mortgage | 0.01% | 2.90% | |
| SEFCU | 0.02% | 1.45% | |
| Mr. Cooper | 0.04% | 5.80% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| M&T Bank | 0.00% | 100.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Elmira Savings Bank | -0.05% | 4.55% | |
| Mr. Cooper | -0.05% | 3.64% | |
| Plaza Home Mortgage | -0.05% | 8.18% | |
| M&T Bank | -0.03% | 2.73% | |
| Wells Fargo Bank | -0.02% | 0.91% | |
| 1st Priority Mortgage, Inc | -0.02% | 6.36% | |
| SEFCU | -0.02% | 3.64% | |
| Movement Mortgage | -0.01% | 1.82% | |
| USAA | -0.00% | 18.18% | |
| Summit Mortgage Corporation | 0.01% | 7.27% | |
| Homestead Funding Corp | 0.02% | 23.64% | |
| Quicken Loans | 0.03% | 19.09% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Elmira Savings Bank | -0.06% | 4.49% | |
| Mr. Cooper | -0.05% | 4.49% | |
| M&T Bank | -0.03% | 3.37% | |
| Plaza Home Mortgage | -0.03% | 5.62% | |
| Wells Fargo Bank | -0.02% | 1.12% | |
| 1st Priority Mortgage, Inc | -0.02% | 7.87% | |
| SEFCU | -0.02% | 4.49% | |
| Movement Mortgage | -0.01% | 2.25% | |
| USAA | -0.00% | 20.22% | |
| Summit Mortgage Corporation | 0.01% | 7.87% | |
| Homestead Funding Corp | 0.02% | 28.09% | |
| Quicken Loans | 0.04% | 10.11% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Plaza Home Mortgage | -0.06% | 19.05% | |
| USAA | -0.02% | 9.52% | |
| Elmira Savings Bank | -0.02% | 4.76% | |
| Summit Mortgage Corporation | -0.01% | 4.76% | |
| Homestead Funding Corp | -0.01% | 4.76% | |
| Quicken Loans | 0.03% | 57.14% |
* Data is compiled for the Binghamton, NY commuting zone area, which comprises of counties of Broome County, NY, Tioga County, NY, and Susquehanna County, PA. This includes cities/towns/communities of Binghamton, NY as well as Endwell, NY, Johnson City, NY, Chenango Bridge, NY, Waverly, NY, Endicott, NY, Thompson, PA, Montrose, PA, Windsor, NY, Nichols, NY, Newark Valley, NY, Port Dickinson, NY, Apalachin, NY, New Milford, PA, Hop Bottom, PA, Little Meadows, PA, Candor, NY, Hallstead, PA, Susquehanna Depot, PA, Binghamton University, NY, Owego, NY, Spencer, NY, Whitney Point, NY, Lisle, NY, Deposit, NY, Forest City, PA, and Glen Aubrey, NY. 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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