Which mortgage lender in the Pittsburgh, PA 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 Pittsburgh, PA 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 Pittsburgh, PA area in terms of interest rate is Clearview Federal Credit Union, with an average “Rate Difference” of -0.59%. This means that, comparing similar borrowers, Clearview Federal Credit Union provided a -0.59% lower interest rate for its customers than other lenders in the area. Clearview Federal Credit Union has a market share of 1.4%. On the other hand, the most popular lender in the Pittsburgh, PA area is PNC Bank, with a larger market share of 10.2%. PNC Bank is an average lender in terms of the interest rate it offers, with a “Rate Difference” of -0.04% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Pittsburgh, PA 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 Pittsburgh, PA is Clearview Federal Credit Union. 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 KeyBank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is PNC Bank. 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 Pittsburgh, PA
|Lender Name||Rate Difference||Rate Rating||Market Share|
|First National Bank of Pennsylvania||-0.04%||22.04%|
|Wells Fargo Bank||0.01%||2.15%|
|Fifth Third Bank||0.01%||0.54%|
|Bank of America||0.01%||1.61%|
|Clearview Federal Credit Union||0.01%||0.54%|
|JPMorgan Chase Bank||0.01%||0.54%|
|The Farmers National Bank of Emlenton||0.02%||4.30%|
|Huntington National Bank||0.02%||3.23%|
|Howard Hanna Mortgage Services||0.02%||0.54%|
|Finance of America Mortgage||0.03%||0.54%|
|Butler Armco Employees Credit Union||0.03%||0.54%|
|Victorian Finance, LLC||0.03%||1.08%|
|Northwest Bank PA||0.03%||2.69%|
|Holland Mortgage Advisors||0.04%||2.69%|
|Land Home Financial Services||0.04%||0.54%|
|First Commonwealth Bank||0.05%||1.61%|
* Data is compiled for the Pittsburgh, PA commuting zone area, which comprises of counties of Allegheny County, PA, Armstrong County, PA, Beaver County, PA, Butler County, PA, Fayette County, PA, Washington County, PA, and Westmoreland County, PA. This includes cities/towns/communities of Pittsburgh, PA as well as Allison Park, PA, Bethel Park municipality, PA, Glenshaw, PA, Plum, PA, Upper St. Clair, PA, Murrysville municipality, PA, Monroeville municipality, PA, Fernway, PA, Carnot-Moon, PA, Franklin Park, PA, Sturgeon, PA, Baldwin, PA, West Mifflin, PA, Jefferson Hills, PA, McMurray, PA, Fox Run, PA, Whitehall, PA, South Park Township, PA, Greensburg, PA, Harrison City, PA, Lower Burrell, PA, Economy, PA, Rennerdale, PA, Muse, PA, Pleasant Hills, PA, Arona, PA, Dormont, PA, Imperial, PA, Brentwood, PA, Butler, PA, Mars, PA, Oakmont, PA, Wylandville, PA, Forest Hills, PA, Level Green, PA, McGovern, PA, Enlow, PA, Homeacre-Lyndora, PA, Munhall, PA, New Kensington, PA, Gibsonia, PA, Canonsburg, PA, Castle Shannon, PA, White Oak, PA, Evans City, PA, Swissvale, PA, West View, PA, Fox Chapel, PA, Carnegie, PA, and Jeannette, PA. 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 Pittsburgh, PA area. For mortgage lender rankings in other cities, click here.