Which mortgage lender in the Gainesville, FL 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 Gainesville, FL 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 Gainesville, FL area in terms of interest rate is Suncoast Credit Union, with an average “Rate Difference” of -0.40%. This means that, comparing similar borrowers, Suncoast Credit Union provided a -0.40% lower interest rate for its customers than other lenders in the area. Suncoast Credit Union has a market share of 1.6%. On the other hand, the most popular lender in the Gainesville, FL area is Quicken Loans, with a larger market share of 13.0%. Quicken Loans is an average lender in terms of the interest rate it offers, with a “Rate Difference” of +0.06% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Gainesville, FL 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 Gainesville, FL is Suncoast 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 TD Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Ameris 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 Gainesville, FL
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| TD Bank | -0.05% | 15.93% | |
| Wells Fargo Bank | -0.04% | 8.85% | |
| SunTrust Bank | -0.02% | 18.58% | |
| Bank of America | -0.01% | 5.31% | |
| Suncoast Credit Union | -0.01% | 1.77% | |
| VyStar Credit Union | 0.01% | 0.88% | |
| Navy Federal Credit Union | 0.01% | 0.88% | |
| FBC Mortgage | 0.01% | 0.88% | |
| US Bank | 0.01% | 0.88% | |
| Regions Bank | 0.01% | 5.31% | |
| Truist Bank | 0.01% | 1.77% | |
| Ameris Bank | 0.02% | 3.54% | |
| Advisors Mortgage Group | 0.02% | 0.88% | |
| First Federal Bank of Florida | 0.02% | 1.77% | |
| CenterState Bank | 0.02% | 1.77% | |
| BBVA | 0.02% | 5.31% | |
| Planet Home Lending | 0.02% | 0.88% | |
| Quicken Loans | 0.02% | 2.65% | |
| Waterstone Mortgage Corporation | 0.03% | 0.88% | |
| Flagstar Bank | 0.03% | 0.88% | |
| Fairway Independent Mortgage Corporation | 0.03% | 0.88% | |
| Campus USA Credit Union | 0.04% | 7.96% | |
| JPMorgan Chase Bank | 0.04% | 7.96% | |
| NewRez | 0.05% | 0.88% | |
| Brannen Bank | 0.07% | 2.65% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.04% | 11.25% | |
| TD Bank | -0.03% | 12.50% | |
| SunTrust Bank | -0.02% | 22.50% | |
| Bank of America | -0.01% | 7.50% | |
| Navy Federal Credit Union | 0.01% | 1.25% | |
| Regions Bank | 0.01% | 3.75% | |
| FBC Mortgage | 0.01% | 1.25% | |
| US Bank | 0.01% | 1.25% | |
| Truist Bank | 0.01% | 2.50% | |
| Ameris Bank | 0.02% | 5.00% | |
| Advisors Mortgage Group | 0.02% | 1.25% | |
| Quicken Loans | 0.02% | 2.50% | |
| BBVA | 0.02% | 2.50% | |
| CenterState Bank | 0.02% | 2.50% | |
| First Federal Bank of Florida | 0.03% | 1.25% | |
| Fairway Independent Mortgage Corporation | 0.03% | 1.25% | |
| NewRez | 0.05% | 1.25% | |
| JPMorgan Chase Bank | 0.05% | 8.75% | |
| Campus USA Credit Union | 0.05% | 7.50% | |
| Brannen Bank | 0.08% | 2.50% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| TD Bank | -0.06% | 24.24% | |
| Suncoast Credit Union | -0.01% | 6.06% | |
| VyStar Credit Union | 0.01% | 3.03% | |
| First Federal Bank of Florida | 0.01% | 3.03% | |
| Wells Fargo Bank | 0.01% | 3.03% | |
| Regions Bank | 0.02% | 9.09% | |
| SunTrust Bank | 0.02% | 9.09% | |
| JPMorgan Chase Bank | 0.02% | 6.06% | |
| Planet Home Lending | 0.02% | 3.03% | |
| BBVA | 0.02% | 12.12% | |
| Campus USA Credit Union | 0.03% | 9.09% | |
| Waterstone Mortgage Corporation | 0.03% | 3.03% | |
| Flagstar Bank | 0.03% | 3.03% | |
| Quicken Loans | 0.03% | 3.03% | |
| Brannen Bank | 0.05% | 3.03% |
* Data is compiled for the Gainesville, FL commuting zone area, which comprises of counties of Alachua County, FL, Citrus County, FL, Dixie County, FL, Gilchrist County, FL, Levy County, FL, and Marion County, FL. This includes cities/towns/communities of Gainesville, FL as well as Ocala, FL, Silver Springs Shores, FL, The Villages, FL, Belleview, FL, Pine Ridge, FL, Newberry, FL, Sugarmill Woods, FL, Citrus Springs, FL, Crystal River, FL, Beverly Hills, FL, Inverness Highlands South, FL, La Crosse, FL, High Springs, FL, Citrus Hills, FL, Inverness Highlands North, FL, Homosassa Springs, FL, Floral City, FL, Archer, FL, Dunnellon, FL, Alachua, FL, Williston, FL, Andrews, FL, Lecanto, FL, East Bronson, FL, Inverness, FL, Homosassa, FL, Reddick, FL, Hernando, FL, Bell, FL, East Williston, FL, Trenton, FL, Spring Ridge, FL, Yankeetown, FL, Fanning Springs, FL, Cedar Key, FL, Waldo, FL, Micanopy, FL, Raleigh, FL, Horseshoe Beach, FL, and Cross City, FL. 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 Gainesville, FL area. For mortgage lender rankings in other cities, click here.