Top Mortgage Lenders in Champaign, IL

Which mortgage lender in the Champaign, IL area typically has the best rates? To help you narrow down where to shop for a mortgage, 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

Mortgage Type:
Lender NameRate DifferenceRate RatingMarket Share
Marine Bank-0.15%(4.0)7.17%
Busey Bank-0.11%(4.0)21.98%
Wells Fargo Bank-0.04%(3.5)6.31%
INB, National Association-0.00%(3.5)10.09%
Heartland Bank and Trust Company-0.00%(3.5)3.26%
First Mid Bank & Trust, NA0.00%(3.5)4.16%
CIBM Bank0.01%(3.5)1.55%
JPMorgan Chase Bank0.02%(3.5)4.55%
Flagstar Bank0.02%(3.5)1.89%
University of Illinois Community Credit Union0.03%(3.5)4.72%
Midland States Bank0.04%(3.5)3.48%
PNC Bank0.04%(3.5)3.22%
Guaranteed Rate0.05%(3.5)1.50%
First State Mortgage Bloomington0.06%(3.0)3.18%
Fairway Independent Mortgage Corporation0.07%(3.0)2.92%
Quicken Loans0.14%(3.0)7.56%
Petefish Skiles & Co Bank0.15%(2.5)1.42%
Lender NameRate DifferenceRate RatingMarket Share
Marine Bank-0.13%(4.0)6.80%
Busey Bank-0.09%(4.0)22.40%
Wells Fargo Bank-0.05%(4.0)5.07%
First Mid Bank & Trust, NA-0.02%(3.5)3.67%
CIBM Bank-0.01%(3.5)1.93%
JPMorgan Chase Bank-0.00%(3.5)5.73%
INB, National Association-0.00%(3.5)10.40%
PNC Bank-0.00%(3.5)2.20%
Heartland Bank and Trust Company0.00%(3.5)3.00%
Flagstar Bank0.01%(3.5)2.53%
University of Illinois Community Credit Union0.03%(3.5)4.40%
Midland States Bank0.04%(3.5)3.93%
Guaranteed Rate0.05%(3.5)1.80%
First State Mortgage Bloomington0.06%(3.0)3.33%
Fairway Independent Mortgage Corporation0.06%(3.0)4.20%
Quicken Loans0.10%(3.0)4.67%
Petefish Skiles & Co Bank0.14%(3.0)0.73%
Lender NameRate DifferenceRate RatingMarket Share
Marine Bank-0.17%(4.5)7.84%
Busey Bank-0.15%(4.0)21.23%
Wells Fargo Bank-0.01%(3.5)8.56%
INB, National Association-0.01%(3.5)9.53%
Heartland Bank and Trust Company-0.00%(3.5)3.74%
Midland States Bank0.03%(3.5)2.65%
First Mid Bank & Trust, NA0.03%(3.5)5.07%
Guaranteed Rate0.04%(3.5)0.97%
University of Illinois Community Credit Union0.04%(3.5)5.31%
First State Mortgage Bloomington0.05%(3.0)2.90%
CIBM Bank0.05%(3.0)0.84%
Flagstar Bank0.05%(3.0)0.72%
Fairway Independent Mortgage Corporation0.07%(3.0)0.60%
PNC Bank0.08%(3.0)5.07%
JPMorgan Chase Bank0.12%(3.0)2.41%
Petefish Skiles & Co Bank0.17%(2.5)2.65%
Quicken Loans0.19%(2.5)12.79%
Lender NameRate DifferenceRate RatingMarket Share
Marine Bank-0.15%(4.0)8.03%
Busey Bank-0.11%(4.0)24.54%
Wells Fargo Bank-0.03%(3.5)7.00%
INB, National Association0.01%(3.5)10.99%
Heartland Bank and Trust Company0.01%(3.5)3.89%
First Mid Bank & Trust, NA0.01%(3.5)4.96%
CIBM Bank0.01%(3.5)1.58%
JPMorgan Chase Bank0.03%(3.5)5.11%
University of Illinois Community Credit Union0.04%(3.5)5.47%
Fairway Independent Mortgage Corporation0.05%(3.0)1.74%
Midland States Bank0.06%(3.0)2.86%
PNC Bank0.06%(3.0)3.27%
Flagstar Bank0.06%(3.0)1.43%
First State Mortgage Bloomington0.07%(3.0)2.04%
Guaranteed Rate0.08%(3.0)0.72%
Petefish Skiles & Co Bank0.16%(2.5)1.69%
Quicken Loans0.23%(2.5)5.37%
Lender NameRate DifferenceRate RatingMarket Share
Marine Bank-0.13%(4.0)7.74%
Busey Bank-0.09%(4.0)25.10%
Wells Fargo Bank-0.05%(4.0)5.43%
First Mid Bank & Trust, NA-0.01%(3.5)4.53%
CIBM Bank-0.00%(3.5)1.98%
JPMorgan Chase Bank0.01%(3.5)6.75%
Heartland Bank and Trust Company0.01%(3.5)3.70%
INB, National Association0.01%(3.5)11.52%
PNC Bank0.02%(3.5)2.22%
University of Illinois Community Credit Union0.04%(3.5)5.27%
Fairway Independent Mortgage Corporation0.04%(3.5)2.47%
Flagstar Bank0.06%(3.0)1.89%
Midland States Bank0.06%(3.0)3.13%
First State Mortgage Bloomington0.08%(3.0)1.65%
Guaranteed Rate0.10%(3.0)0.66%
Petefish Skiles & Co Bank0.15%(2.5)0.91%
Quicken Loans0.17%(2.5)3.46%
Lender NameRate DifferenceRate RatingMarket Share
Marine Bank-0.17%(4.5)8.50%
Busey Bank-0.14%(4.0)23.62%
INB, National Association-0.01%(3.5)10.12%
Wells Fargo Bank-0.01%(3.5)9.58%
Heartland Bank and Trust Company0.00%(3.5)4.18%
Midland States Bank0.04%(3.5)2.43%
First Mid Bank & Trust, NA0.04%(3.5)5.67%
Guaranteed Rate0.05%(3.5)0.81%
University of Illinois Community Credit Union0.05%(3.5)5.80%
CIBM Bank0.06%(3.0)0.94%
First State Mortgage Bloomington0.06%(3.0)2.70%
Flagstar Bank0.06%(3.0)0.67%
Fairway Independent Mortgage Corporation0.09%(3.0)0.54%
PNC Bank0.09%(3.0)4.99%
JPMorgan Chase Bank0.14%(3.0)2.43%
Petefish Skiles & Co Bank0.17%(2.5)2.97%
Quicken Loans0.28%(2.0)8.50%
Lender NameRate DifferenceRate RatingMarket Share
Flagstar Bank-0.10%(4.0)4.94%
INB, National Association-0.10%(4.0)4.94%
Busey Bank-0.07%(4.0)7.60%
Marine Bank-0.07%(4.0)1.14%
PNC Bank-0.06%(4.0)2.28%
CIBM Bank-0.06%(4.0)0.76%
Midland States Bank-0.04%(3.5)8.37%
Quicken Loans-0.03%(3.5)22.05%
Guaranteed Rate-0.02%(3.5)6.08%
First State Mortgage Bloomington0.00%(3.5)9.89%
Fairway Independent Mortgage Corporation0.04%(3.5)10.27%
Lender NameRate DifferenceRate RatingMarket Share
INB, National Association-0.12%(4.0)4.88%
Flagstar Bank-0.11%(4.0)5.85%
PNC Bank-0.08%(4.0)1.46%
Busey Bank-0.08%(4.0)9.76%
Marine Bank-0.08%(4.0)1.46%
Quicken Loans-0.07%(4.0)10.24%
CIBM Bank-0.06%(4.0)0.98%
Midland States Bank-0.04%(3.5)9.76%
Guaranteed Rate-0.03%(3.5)7.32%
First State Mortgage Bloomington-0.00%(3.5)11.71%
Fairway Independent Mortgage Corporation0.04%(3.5)13.17%
Lender NameRate DifferenceRate RatingMarket Share
PNC Bank-0.03%(3.5)5.17%
Midland States Bank-0.03%(3.5)3.45%
Guaranteed Rate-0.02%(3.5)1.72%
First State Mortgage Bloomington-0.02%(3.5)3.45%
Flagstar Bank-0.02%(3.5)1.72%
INB, National Association-0.01%(3.5)5.17%
Quicken Loans0.01%(3.5)63.79%
Lender NameRate DifferenceRate RatingMarket Share
Wells Fargo Bank-0.00%(3.5)25.00%
University of Illinois Community Credit Union-0.00%(3.5)25.00%
JPMorgan Chase Bank0.00%(3.5)50.00%
Lender NameRate DifferenceRate RatingMarket Share
Wells Fargo Bank-0.00%(3.5)40.00%
University of Illinois Community Credit Union-0.00%(3.5)20.00%
JPMorgan Chase Bank0.01%(3.5)40.00%
Lender NameRate DifferenceRate RatingMarket Share
University of Illinois Community Credit Union0.00%(3.5)33.33%
JPMorgan Chase Bank0.00%(3.5)66.67%
Lender NameRate DifferenceRate RatingMarket Share
Busey Bank-0.04%(3.5)11.76%
INB, National Association-0.03%(3.5)6.86%
PNC Bank-0.02%(3.5)4.90%
Marine Bank-0.02%(3.5)6.86%
CIBM Bank-0.00%(3.5)2.94%
Flagstar Bank-0.00%(3.5)2.94%
Wells Fargo Bank-0.00%(3.5)7.84%
University of Illinois Community Credit Union0.00%(3.5)0.98%
Midland States Bank0.00%(3.5)2.94%
First State Mortgage Bloomington0.00%(3.5)7.84%
Guaranteed Rate0.01%(3.5)4.90%
JPMorgan Chase Bank0.01%(3.5)1.96%
Quicken Loans0.03%(3.5)12.75%
Fairway Independent Mortgage Corporation0.04%(3.5)6.86%
Lender NameRate DifferenceRate RatingMarket Share
Busey Bank-0.05%(3.5)14.67%
INB, National Association-0.04%(3.5)8.00%
PNC Bank-0.03%(3.5)4.00%
Marine Bank-0.03%(3.5)6.67%
CIBM Bank-0.01%(3.5)4.00%
Flagstar Bank-0.01%(3.5)4.00%
Wells Fargo Bank-0.01%(3.5)10.67%
University of Illinois Community Credit Union-0.01%(3.5)1.33%
Midland States Bank-0.00%(3.5)1.33%
Guaranteed Rate0.00%(3.5)5.33%
First State Mortgage Bloomington0.00%(3.5)8.00%
JPMorgan Chase Bank0.01%(3.5)2.67%
Fairway Independent Mortgage Corporation0.04%(3.5)8.00%
Quicken Loans0.04%(3.5)9.33%
Lender NameRate DifferenceRate RatingMarket Share
Busey Bank-0.00%(3.5)3.70%
First State Mortgage Bloomington-0.00%(3.5)7.41%
PNC Bank0.01%(3.5)7.41%
Marine Bank0.01%(3.5)7.41%
Midland States Bank0.02%(3.5)7.41%
INB, National Association0.02%(3.5)3.70%
Fairway Independent Mortgage Corporation0.02%(3.5)3.70%
Guaranteed Rate0.02%(3.5)3.70%
Quicken Loans0.03%(3.5)22.22%

* 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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