Which mortgage lender in the St. Louis, MO 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 St. Louis, MO 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 St. Louis, MO area in terms of interest rate is US Wide Financial, with an average “Rate Difference” of -0.29%. This means that, comparing similar borrowers, US Wide Financial provided a -0.29% lower interest rate for its customers than other lenders in the area. US Wide Financial has a market share of 0.6%. On the other hand, the most popular lender in the St. Louis, MO area is DAS Acquisition Company, with a larger market share of 9.6%. However, DAS Acquisition Company also tends to be an expensive lender in the area, with an average “Rate Difference” of +0.12% compared to those of other lenders. We recommend shopping around before going with this popular lender.
Our detailed ranking of mortgage lenders in the St. Louis, MO 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 St. Louis, MO is US Wide Financial. 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 Together Credit Union. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Stifel Bank & Trust. 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 St. Louis, MO
* Data is compiled for the St. Louis, MO commuting zone area, which comprises of counties of Monroe County, IL, St. Clair County, IL, Crawford County, MO, Franklin County, MO, Gasconade County, MO, Jefferson County, MO, Lincoln County, MO, St. Charles County, MO, St. Louis County, MO, Warren County, MO, and St. Louis city, MO. This includes cities/towns/communities of St. Louis, MO as well as OFallon, MO, St. Charles, MO, St. Peters, MO, Wentzville, MO, Ballwin, MO, Wildwood, MO, Belleville, IL, Chesterfield, MO, Arnold, MO, Kirkwood, MO, Maryland Heights, MO, Creve Coeur, MO, Oakville, MO, Florissant, MO, St. Paul, MO, OFallon, IL, Webster Groves, MO, Manchester, MO, University City, MO, Valley Park, MO, Affton, MO, Concord, MO, Lake St. Louis, MO, Mehlville, MO, Fairview Heights, IL, Chain of Rocks, MO, Hazelwood, MO, Eureka, MO, De Soto, MO, Cottleville, MO, Troy, MO, Town and Country, MO, Festus, MO, Shiloh, IL, Black Jack, MO, Crestwood, MO, Clayton, MO, Washington, MO, Brentwood, MO, Warrenton, MO, Weldon Spring, MO, Waterloo, IL, Union, MO, Wright City, MO, Old Jamestown, MO, Columbia, IL, New Melle, MO, Flint Hill, MO, Overland, MO, and Murphy, MO. 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 St. Louis, MO area. For mortgage lender rankings in other cities, click here.