Which mortgage lender in the Lafayette, IN 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 Lafayette, IN 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 Lafayette, IN area in terms of interest rate is Purdue Federal Credit Union, with an average “Rate Difference” of -0.17%. This means that, comparing similar borrowers, Purdue Federal Credit Union provided a -0.17% lower interest rate for its customers than other lenders in the area. Purdue Federal Credit Union has a market share of 15.2%. It is the most popular lender in the Lafayette, IN area.
Our detailed ranking of mortgage lenders in the Lafayette, IN 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, Purdue Federal Credit Union is the cheapest mortgage provider for Conventional and Jumbo mortgages in Lafayette, IN. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is First Merchants Bank. The cheapest VA mortgage provider is First Merchants 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 Lafayette, IN
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Merchants Bank | -0.14% | 2.18% | |
| PNC Bank | -0.13% | 1.29% | |
| American Mortgage Service Company | -0.13% | 7.25% | |
| Regions Bank | -0.12% | 1.89% | |
| Huntington National Bank | -0.11% | 1.69% | |
| AMEC Home Loans | -0.09% | 1.39% | |
| Quicken Loans | -0.07% | 14.60% | |
| Old National Bank | -0.07% | 1.69% | |
| First Midwest Bank | -0.07% | 0.99% | |
| Horicon Bank IN | -0.05% | 0.89% | |
| Hallmark Home Mortgage | -0.05% | 4.27% | |
| Centier Bank | -0.04% | 1.29% | |
| 1st Source Bank | -0.04% | 0.20% | |
| Fifth Third Bank | -0.02% | 0.50% | |
| Carrington Mortgage Services | -0.01% | 2.58% | |
| JPMorgan Chase Bank | -0.00% | 0.10% | |
| First Financial Bank | -0.00% | 0.30% | |
| Ruoff Mortgage | 0.01% | 19.86% | |
| loanDepot | 0.01% | 1.89% | |
| Fair Way Lending | 0.02% | 1.69% | |
| CMG Financial | 0.03% | 1.99% | |
| Fairway Independent Mortgage Corporation | 0.04% | 2.28% | |
| University Lending Group | 0.05% | 0.79% | |
| Integrity Mortgage Group | 0.07% | 3.08% | |
| GVC Mortgage | 0.07% | 1.89% | |
| New American Funding | 0.07% | 2.38% | |
| Mr. Cooper | 0.09% | 2.18% | |
| Caliber Home Loans | 0.10% | 9.73% | |
| Amerifirst Home Mortgage | 0.13% | 1.69% | |
| Platinum Home Mortgage Corporation | 0.13% | 2.28% | |
| Panorama Mortgage Group | 0.18% | 5.16% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Merchants Bank | -0.16% | 2.18% | |
| American Mortgage Service Company | -0.15% | 8.19% | |
| Huntington National Bank | -0.14% | 1.66% | |
| PNC Bank | -0.13% | 1.66% | |
| Regions Bank | -0.12% | 2.43% | |
| Quicken Loans | -0.11% | 7.55% | |
| AMEC Home Loans | -0.10% | 1.66% | |
| Old National Bank | -0.09% | 1.79% | |
| First Midwest Bank | -0.07% | 1.28% | |
| Horicon Bank IN | -0.06% | 0.90% | |
| Hallmark Home Mortgage | -0.05% | 5.25% | |
| Centier Bank | -0.05% | 1.66% | |
| 1st Source Bank | -0.04% | 0.26% | |
| Fifth Third Bank | -0.03% | 0.51% | |
| First Financial Bank | -0.01% | 0.13% | |
| JPMorgan Chase Bank | -0.01% | 0.13% | |
| Ruoff Mortgage | -0.00% | 23.30% | |
| loanDepot | 0.01% | 0.51% | |
| Carrington Mortgage Services | 0.02% | 0.90% | |
| Fair Way Lending | 0.02% | 2.05% | |
| CMG Financial | 0.03% | 2.30% | |
| University Lending Group | 0.04% | 1.02% | |
| Fairway Independent Mortgage Corporation | 0.05% | 2.56% | |
| Mr. Cooper | 0.05% | 0.51% | |
| Integrity Mortgage Group | 0.07% | 3.59% | |
| GVC Mortgage | 0.08% | 2.18% | |
| New American Funding | 0.08% | 2.69% | |
| Caliber Home Loans | 0.12% | 10.76% | |
| Platinum Home Mortgage Corporation | 0.14% | 2.69% | |
| Amerifirst Home Mortgage | 0.17% | 1.54% | |
| Panorama Mortgage Group | 0.19% | 6.15% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Merchants Bank | -0.05% | 2.21% | |
| Quicken Loans | -0.04% | 38.94% | |
| Caliber Home Loans | -0.03% | 6.19% | |
| Carrington Mortgage Services | -0.01% | 8.41% | |
| Hallmark Home Mortgage | -0.01% | 0.88% | |
| Horicon Bank IN | -0.00% | 0.88% | |
| Fairway Independent Mortgage Corporation | -0.00% | 1.33% | |
| Huntington National Bank | -0.00% | 1.77% | |
| Panorama Mortgage Group | 0.00% | 1.77% | |
| GVC Mortgage | 0.00% | 0.88% | |
| New American Funding | 0.01% | 1.33% | |
| Fair Way Lending | 0.01% | 0.44% | |
| American Mortgage Service Company | 0.01% | 3.98% | |
| AMEC Home Loans | 0.01% | 0.44% | |
| Integrity Mortgage Group | 0.01% | 1.33% | |
| Fifth Third Bank | 0.01% | 0.44% | |
| Platinum Home Mortgage Corporation | 0.01% | 0.88% | |
| First Financial Bank | 0.02% | 0.88% | |
| Old National Bank | 0.02% | 1.33% | |
| Amerifirst Home Mortgage | 0.03% | 2.21% | |
| loanDepot | 0.03% | 6.64% | |
| CMG Financial | 0.04% | 0.88% | |
| Ruoff Mortgage | 0.05% | 7.96% | |
| Mr. Cooper | 0.12% | 7.96% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Purdue Federal Credit Union | -0.00% | 45.45% | |
| 1st Source Bank | 0.00% | 22.73% | |
| Horicon Bank IN | 0.00% | 4.55% | |
| First Financial Bank | 0.00% | 9.09% | |
| Ruoff Mortgage | 0.00% | 4.55% | |
| JPMorgan Chase Bank | 0.00% | 4.55% | |
| Fifth Third Bank | 0.00% | 4.55% | |
| Wells Fargo Bank | 0.02% | 4.55% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Purdue Federal Credit Union | -0.00% | 53.33% | |
| First Financial Bank | 0.00% | 6.67% | |
| Horicon Bank IN | 0.00% | 6.67% | |
| Ruoff Mortgage | 0.00% | 6.67% | |
| JPMorgan Chase Bank | 0.00% | 6.67% | |
| Fifth Third Bank | 0.00% | 6.67% | |
| 1st Source Bank | 0.00% | 6.67% | |
| Wells Fargo Bank | 0.02% | 6.67% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| 1st Source Bank | -0.00% | 57.14% | |
| First Financial Bank | 0.00% | 14.29% | |
| Purdue Federal Credit Union | 0.00% | 28.57% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Merchants Bank | -0.11% | 4.17% | |
| loanDepot | -0.09% | 7.64% | |
| USAA | -0.06% | 9.38% | |
| PNC Bank | -0.05% | 1.74% | |
| Centier Bank | -0.05% | 1.04% | |
| American Mortgage Service Company | -0.05% | 3.12% | |
| Wells Fargo Bank | -0.05% | 1.39% | |
| First Financial Bank | -0.02% | 0.35% | |
| Regions Bank | -0.02% | 4.17% | |
| Fairway Independent Mortgage Corporation | -0.02% | 1.04% | |
| Old National Bank | -0.01% | 1.04% | |
| Fair Way Lending | -0.01% | 0.69% | |
| University Lending Group | -0.01% | 2.08% | |
| Hallmark Home Mortgage | -0.01% | 4.51% | |
| Horicon Bank IN | -0.01% | 1.04% | |
| 1st Source Bank | -0.01% | 0.35% | |
| New American Funding | -0.01% | 0.69% | |
| JPMorgan Chase Bank | -0.01% | 0.35% | |
| Fifth Third Bank | -0.01% | 0.69% | |
| Panorama Mortgage Group | -0.00% | 1.39% | |
| GVC Mortgage | -0.00% | 0.35% | |
| Integrity Mortgage Group | 0.00% | 3.12% | |
| Huntington National Bank | 0.01% | 2.78% | |
| AMEC Home Loans | 0.01% | 0.35% | |
| Amerifirst Home Mortgage | 0.01% | 1.74% | |
| Mr. Cooper | 0.02% | 1.39% | |
| Quicken Loans | 0.02% | 12.50% | |
| CMG Financial | 0.02% | 1.39% | |
| Caliber Home Loans | 0.04% | 12.50% | |
| Carrington Mortgage Services | 0.07% | 3.82% | |
| Ruoff Mortgage | 0.09% | 13.19% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Merchants Bank | -0.13% | 5.52% | |
| USAA | -0.08% | 13.26% | |
| American Mortgage Service Company | -0.06% | 3.31% | |
| Regions Bank | -0.06% | 4.42% | |
| PNC Bank | -0.06% | 2.76% | |
| Centier Bank | -0.06% | 1.66% | |
| Wells Fargo Bank | -0.05% | 2.21% | |
| Fairway Independent Mortgage Corporation | -0.03% | 1.66% | |
| Quicken Loans | -0.02% | 2.21% | |
| Fair Way Lending | -0.02% | 1.10% | |
| University Lending Group | -0.02% | 3.31% | |
| Old National Bank | -0.02% | 1.10% | |
| Fifth Third Bank | -0.01% | 0.55% | |
| New American Funding | -0.01% | 1.10% | |
| Horicon Bank IN | -0.01% | 1.10% | |
| JPMorgan Chase Bank | -0.01% | 0.55% | |
| GVC Mortgage | -0.01% | 0.55% | |
| Hallmark Home Mortgage | -0.01% | 4.97% | |
| loanDepot | -0.00% | 0.55% | |
| Panorama Mortgage Group | 0.00% | 0.55% | |
| Huntington National Bank | 0.00% | 3.87% | |
| AMEC Home Loans | 0.00% | 0.55% | |
| Integrity Mortgage Group | 0.01% | 3.87% | |
| Amerifirst Home Mortgage | 0.01% | 2.21% | |
| CMG Financial | 0.02% | 2.21% | |
| Mr. Cooper | 0.04% | 1.10% | |
| Carrington Mortgage Services | 0.06% | 1.66% | |
| Caliber Home Loans | 0.06% | 14.92% | |
| Ruoff Mortgage | 0.10% | 17.13% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| loanDepot | -0.08% | 19.63% | |
| Caliber Home Loans | -0.03% | 8.41% | |
| First Merchants Bank | -0.03% | 1.87% | |
| American Mortgage Service Company | -0.02% | 2.80% | |
| Integrity Mortgage Group | -0.02% | 1.87% | |
| Hallmark Home Mortgage | -0.01% | 3.74% | |
| First Financial Bank | -0.01% | 0.93% | |
| Old National Bank | -0.00% | 0.93% | |
| Mr. Cooper | -0.00% | 1.87% | |
| Amerifirst Home Mortgage | 0.00% | 0.93% | |
| Horicon Bank IN | 0.00% | 0.93% | |
| Huntington National Bank | 0.00% | 0.93% | |
| USAA | 0.00% | 2.80% | |
| Panorama Mortgage Group | 0.00% | 2.80% | |
| 1st Source Bank | 0.01% | 0.93% | |
| Ruoff Mortgage | 0.01% | 6.54% | |
| Fifth Third Bank | 0.01% | 0.93% | |
| Quicken Loans | 0.04% | 29.91% | |
| Regions Bank | 0.05% | 3.74% | |
| Carrington Mortgage Services | 0.09% | 7.48% |
* Data is compiled for the Lafayette, IN commuting zone area, which comprises of counties of Vermilion County, IL, Benton County, IN, Carroll County, IN, Clinton County, IN, Fountain County, IN, Montgomery County, IN, Tippecanoe County, IN, Warren County, IN, and White County, IN. This includes cities/towns/communities of Lafayette, IN as well as West Lafayette, IN, Crawfordsville, IN, Frankfort, IN, Danville, IL, Waynetown, IN, West Point, IN, Delphi, IN, Americus, IN, Otterbein, IN, Dayton, IN, Rossville, IN, Lake Holiday, IN, Norway, IN, Clarks Hill, IN, Ladoga, IN, Monticello, IN, Brookston, IN, Linden, IN, Attica, IN, Darlington, IN, Burlington, IN, Colfax, IN, Pine Village, IN, Yeoman, IN, Otterbein, IN, Buffalo, IN, Camden, IN, Flora, IN, West Lebanon, IN, Kirklin, IN, Reynolds, IN, Catlin, IL, Hillsboro, IN, Fowler, IN, Potomac, IL, Covington, IN, Georgetown, IL, Fithian, IL, Kingman, IN, Idaville, IN, Monon, IN, Wolcott, IN, Bismarck, IL, Belgium, IL, Hoopeston, IL, Ridge Farm, IL, Rankin, IL, Boswell, IN, Fairmount, IL, and Tilton, 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 Lafayette, IN area. For mortgage lender rankings in other cities, click here.