Which mortgage lender in the Champaign, IL 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 Champaign, IL 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 Champaign, IL area in terms of interest rate is Marine Bank, with an average “Rate Difference” of -0.15%. This means that, comparing similar borrowers, Marine Bank provided a -0.15% lower interest rate for its customers than other lenders in the area. Marine Bank has a market share of 7.2%. On the other hand, the most popular lender in the Champaign, IL area is Busey Bank, with a larger market share of 22.0%. Busey Bank is also a relatively cheap lender, with a “Rate Difference” of -0.11% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Champaign, IL 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 Champaign, IL is Marine Bank. 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 Wells Fargo Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Flagstar Bank. The cheapest VA mortgage provider is loanDepot. 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 Champaign, IL
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Marine Bank | -0.15% | 7.17% | |
| Busey Bank | -0.11% | 21.98% | |
| Wells Fargo Bank | -0.04% | 6.31% | |
| INB, National Association | -0.00% | 10.09% | |
| Heartland Bank and Trust Company | -0.00% | 3.26% | |
| First Mid Bank & Trust, NA | 0.00% | 4.16% | |
| CIBM Bank | 0.01% | 1.55% | |
| loanDepot | 0.02% | 1.46% | |
| JPMorgan Chase Bank | 0.02% | 4.55% | |
| Flagstar Bank | 0.02% | 1.89% | |
| BancMac | 0.03% | 1.55% | |
| University of Illinois Community Credit Union | 0.03% | 4.72% | |
| Midland States Bank | 0.04% | 3.48% | |
| PNC Bank | 0.04% | 3.22% | |
| Guaranteed Rate | 0.05% | 1.50% | |
| First State Mortgage Bloomington | 0.06% | 3.18% | |
| Fairway Independent Mortgage Corporation | 0.07% | 2.92% | |
| Quicken Loans | 0.14% | 7.56% | |
| Petefish Skiles & Co Bank | 0.15% | 1.42% | |
| PrimeLending | 0.16% | 8.03% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Marine Bank | -0.13% | 6.80% | |
| Busey Bank | -0.09% | 22.40% | |
| Wells Fargo Bank | -0.05% | 5.07% | |
| First Mid Bank & Trust, NA | -0.02% | 3.67% | |
| CIBM Bank | -0.01% | 1.93% | |
| JPMorgan Chase Bank | -0.00% | 5.73% | |
| INB, National Association | -0.00% | 10.40% | |
| PNC Bank | -0.00% | 2.20% | |
| Heartland Bank and Trust Company | 0.00% | 3.00% | |
| BancMac | 0.01% | 1.27% | |
| Flagstar Bank | 0.01% | 2.53% | |
| University of Illinois Community Credit Union | 0.03% | 4.40% | |
| loanDepot | 0.03% | 1.20% | |
| Midland States Bank | 0.04% | 3.93% | |
| Guaranteed Rate | 0.05% | 1.80% | |
| First State Mortgage Bloomington | 0.06% | 3.33% | |
| Fairway Independent Mortgage Corporation | 0.06% | 4.20% | |
| Quicken Loans | 0.10% | 4.67% | |
| Petefish Skiles & Co Bank | 0.14% | 0.73% | |
| PrimeLending | 0.17% | 10.73% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Marine Bank | -0.17% | 7.84% | |
| Busey Bank | -0.15% | 21.23% | |
| Wells Fargo Bank | -0.01% | 8.56% | |
| INB, National Association | -0.01% | 9.53% | |
| Heartland Bank and Trust Company | -0.00% | 3.74% | |
| loanDepot | 0.01% | 1.93% | |
| Midland States Bank | 0.03% | 2.65% | |
| First Mid Bank & Trust, NA | 0.03% | 5.07% | |
| Guaranteed Rate | 0.04% | 0.97% | |
| University of Illinois Community Credit Union | 0.04% | 5.31% | |
| BancMac | 0.05% | 2.05% | |
| First State Mortgage Bloomington | 0.05% | 2.90% | |
| CIBM Bank | 0.05% | 0.84% | |
| Flagstar Bank | 0.05% | 0.72% | |
| Fairway Independent Mortgage Corporation | 0.07% | 0.60% | |
| PrimeLending | 0.07% | 3.14% | |
| PNC Bank | 0.08% | 5.07% | |
| JPMorgan Chase Bank | 0.12% | 2.41% | |
| Petefish Skiles & Co Bank | 0.17% | 2.65% | |
| Quicken Loans | 0.19% | 12.79% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Marine Bank | -0.15% | 8.03% | |
| Busey Bank | -0.11% | 24.54% | |
| Wells Fargo Bank | -0.03% | 7.00% | |
| INB, National Association | 0.01% | 10.99% | |
| Heartland Bank and Trust Company | 0.01% | 3.89% | |
| First Mid Bank & Trust, NA | 0.01% | 4.96% | |
| CIBM Bank | 0.01% | 1.58% | |
| JPMorgan Chase Bank | 0.03% | 5.11% | |
| BancMac | 0.03% | 1.84% | |
| University of Illinois Community Credit Union | 0.04% | 5.47% | |
| Fairway Independent Mortgage Corporation | 0.05% | 1.74% | |
| Midland States Bank | 0.06% | 2.86% | |
| PNC Bank | 0.06% | 3.27% | |
| Flagstar Bank | 0.06% | 1.43% | |
| First State Mortgage Bloomington | 0.07% | 2.04% | |
| loanDepot | 0.07% | 0.51% | |
| Guaranteed Rate | 0.08% | 0.72% | |
| PrimeLending | 0.16% | 6.95% | |
| Petefish Skiles & Co Bank | 0.16% | 1.69% | |
| Quicken Loans | 0.23% | 5.37% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Marine Bank | -0.13% | 7.74% | |
| Busey Bank | -0.09% | 25.10% | |
| Wells Fargo Bank | -0.05% | 5.43% | |
| First Mid Bank & Trust, NA | -0.01% | 4.53% | |
| CIBM Bank | -0.00% | 1.98% | |
| JPMorgan Chase Bank | 0.01% | 6.75% | |
| Heartland Bank and Trust Company | 0.01% | 3.70% | |
| INB, National Association | 0.01% | 11.52% | |
| PNC Bank | 0.02% | 2.22% | |
| BancMac | 0.02% | 1.56% | |
| University of Illinois Community Credit Union | 0.04% | 5.27% | |
| Fairway Independent Mortgage Corporation | 0.04% | 2.47% | |
| Flagstar Bank | 0.06% | 1.89% | |
| Midland States Bank | 0.06% | 3.13% | |
| loanDepot | 0.07% | 0.74% | |
| First State Mortgage Bloomington | 0.08% | 1.65% | |
| Guaranteed Rate | 0.10% | 0.66% | |
| Petefish Skiles & Co Bank | 0.15% | 0.91% | |
| Quicken Loans | 0.17% | 3.46% | |
| PrimeLending | 0.17% | 9.30% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Marine Bank | -0.17% | 8.50% | |
| Busey Bank | -0.14% | 23.62% | |
| INB, National Association | -0.01% | 10.12% | |
| Wells Fargo Bank | -0.01% | 9.58% | |
| Heartland Bank and Trust Company | 0.00% | 4.18% | |
| Midland States Bank | 0.04% | 2.43% | |
| First Mid Bank & Trust, NA | 0.04% | 5.67% | |
| loanDepot | 0.04% | 0.13% | |
| Guaranteed Rate | 0.05% | 0.81% | |
| University of Illinois Community Credit Union | 0.05% | 5.80% | |
| BancMac | 0.06% | 2.29% | |
| CIBM Bank | 0.06% | 0.94% | |
| First State Mortgage Bloomington | 0.06% | 2.70% | |
| Flagstar Bank | 0.06% | 0.67% | |
| PrimeLending | 0.08% | 3.10% | |
| Fairway Independent Mortgage Corporation | 0.09% | 0.54% | |
| PNC Bank | 0.09% | 4.99% | |
| JPMorgan Chase Bank | 0.14% | 2.43% | |
| Petefish Skiles & Co Bank | 0.17% | 2.97% | |
| Quicken Loans | 0.28% | 8.50% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Flagstar Bank | -0.10% | 4.94% | |
| INB, National Association | -0.10% | 4.94% | |
| Busey Bank | -0.07% | 7.60% | |
| Marine Bank | -0.07% | 1.14% | |
| PNC Bank | -0.06% | 2.28% | |
| CIBM Bank | -0.06% | 0.76% | |
| Midland States Bank | -0.04% | 8.37% | |
| loanDepot | -0.03% | 6.08% | |
| Quicken Loans | -0.03% | 22.05% | |
| Guaranteed Rate | -0.02% | 6.08% | |
| First State Mortgage Bloomington | 0.00% | 9.89% | |
| Fairway Independent Mortgage Corporation | 0.04% | 10.27% | |
| PrimeLending | 0.17% | 15.59% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| INB, National Association | -0.12% | 4.88% | |
| Flagstar Bank | -0.11% | 5.85% | |
| PNC Bank | -0.08% | 1.46% | |
| Busey Bank | -0.08% | 9.76% | |
| Marine Bank | -0.08% | 1.46% | |
| Quicken Loans | -0.07% | 10.24% | |
| CIBM Bank | -0.06% | 0.98% | |
| loanDepot | -0.05% | 4.39% | |
| Midland States Bank | -0.04% | 9.76% | |
| Guaranteed Rate | -0.03% | 7.32% | |
| First State Mortgage Bloomington | -0.00% | 11.71% | |
| Fairway Independent Mortgage Corporation | 0.04% | 13.17% | |
| PrimeLending | 0.18% | 19.02% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| PNC Bank | -0.03% | 5.17% | |
| Midland States Bank | -0.03% | 3.45% | |
| Guaranteed Rate | -0.02% | 1.72% | |
| First State Mortgage Bloomington | -0.02% | 3.45% | |
| Flagstar Bank | -0.02% | 1.72% | |
| INB, National Association | -0.01% | 5.17% | |
| loanDepot | 0.00% | 12.07% | |
| PrimeLending | 0.00% | 3.45% | |
| Quicken Loans | 0.01% | 63.79% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.00% | 25.00% | |
| University of Illinois Community Credit Union | -0.00% | 25.00% | |
| JPMorgan Chase Bank | 0.00% | 50.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.00% | 40.00% | |
| University of Illinois Community Credit Union | -0.00% | 20.00% | |
| JPMorgan Chase Bank | 0.01% | 40.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| University of Illinois Community Credit Union | 0.00% | 33.33% | |
| JPMorgan Chase Bank | 0.00% | 66.67% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| loanDepot | -0.06% | 7.84% | |
| Busey Bank | -0.04% | 11.76% | |
| INB, National Association | -0.03% | 6.86% | |
| PNC Bank | -0.02% | 4.90% | |
| Marine Bank | -0.02% | 6.86% | |
| CIBM Bank | -0.00% | 2.94% | |
| Flagstar Bank | -0.00% | 2.94% | |
| Wells Fargo Bank | -0.00% | 7.84% | |
| University of Illinois Community Credit Union | 0.00% | 0.98% | |
| Midland States Bank | 0.00% | 2.94% | |
| First State Mortgage Bloomington | 0.00% | 7.84% | |
| Guaranteed Rate | 0.01% | 4.90% | |
| JPMorgan Chase Bank | 0.01% | 1.96% | |
| Quicken Loans | 0.03% | 12.75% | |
| Fairway Independent Mortgage Corporation | 0.04% | 6.86% | |
| PrimeLending | 0.07% | 9.80% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Busey Bank | -0.05% | 14.67% | |
| INB, National Association | -0.04% | 8.00% | |
| PNC Bank | -0.03% | 4.00% | |
| Marine Bank | -0.03% | 6.67% | |
| CIBM Bank | -0.01% | 4.00% | |
| Flagstar Bank | -0.01% | 4.00% | |
| Wells Fargo Bank | -0.01% | 10.67% | |
| University of Illinois Community Credit Union | -0.01% | 1.33% | |
| Midland States Bank | -0.00% | 1.33% | |
| Guaranteed Rate | 0.00% | 5.33% | |
| First State Mortgage Bloomington | 0.00% | 8.00% | |
| JPMorgan Chase Bank | 0.01% | 2.67% | |
| Fairway Independent Mortgage Corporation | 0.04% | 8.00% | |
| Quicken Loans | 0.04% | 9.33% | |
| PrimeLending | 0.06% | 12.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| loanDepot | -0.04% | 29.63% | |
| Busey Bank | -0.00% | 3.70% | |
| First State Mortgage Bloomington | -0.00% | 7.41% | |
| PNC Bank | 0.01% | 7.41% | |
| Marine Bank | 0.01% | 7.41% | |
| Midland States Bank | 0.02% | 7.41% | |
| INB, National Association | 0.02% | 3.70% | |
| Fairway Independent Mortgage Corporation | 0.02% | 3.70% | |
| Guaranteed Rate | 0.02% | 3.70% | |
| Quicken Loans | 0.03% | 22.22% | |
| PrimeLending | 0.04% | 3.70% |
* Data is compiled for the Champaign, IL commuting zone area, which comprises of counties of Champaign County, IL, Douglas County, IL, Ford County, IL, and Piatt County, IL. This includes cities/towns/communities of Champaign, IL as well as Urbana, IL, Mahomet, IL, Pesotum, IL, Ogden, IL, Monticello, IL, Savoy, IL, Paxton, IL, Rantoul, IL, Mansfield, IL, Fisher, IL, Broadlands, IL, Tuscola, IL, Gibson City, IL, Camargo, IL, Gifford, IL, Arcola, IL, Atwood, IL, Cisco, IL, Atwood, IL, Newman, IL, Melvin, IL, and Piper City, 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
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