Which mortgage lender in the Waterloo, IA 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 Waterloo, IA 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 Waterloo, IA area in terms of interest rate is Veridian Credit Union, with an average “Rate Difference” of -0.18%. This means that, comparing similar borrowers, Veridian Credit Union provided a -0.18% lower interest rate for its customers than other lenders in the area. Veridian Credit Union has a market share of 23.7%. It is the most popular lender in the Waterloo, IA area.
Our detailed ranking of mortgage lenders in the Waterloo, IA 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 Waterloo, IA is Veridian 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 GreenState Credit Union. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Lincoln Savings Bank. The cheapest VA mortgage provider is Veridian 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 Waterloo, IA
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Veridian Credit Union | -0.18% | 23.70% | |
| Iowa Bankers Mortgage Corporation | -0.14% | 13.33% | |
| Collins Community Credit Union | -0.07% | 3.73% | |
| Dupaco Community Credit Union | -0.06% | 3.16% | |
| BankIowa | -0.03% | 2.88% | |
| Deere Employees Credit Union | -0.01% | 1.46% | |
| GreenState Credit Union | -0.00% | 21.00% | |
| US Bank | 0.06% | 2.67% | |
| Lincoln Savings Bank | 0.10% | 3.80% | |
| DAS Acquisition Company | 0.12% | 5.44% | |
| Wells Fargo Bank | 0.12% | 1.42% | |
| Quicken Loans | 0.19% | 3.91% | |
| Farmers State Bank | 0.34% | 13.50% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Veridian Credit Union | -0.20% | 27.71% | |
| Dupaco Community Credit Union | -0.10% | 2.92% | |
| Collins Community Credit Union | -0.06% | 3.59% | |
| Iowa Bankers Mortgage Corporation | -0.06% | 10.29% | |
| BankIowa | -0.04% | 2.19% | |
| GreenState Credit Union | -0.02% | 19.67% | |
| US Bank | -0.01% | 3.05% | |
| Deere Employees Credit Union | -0.00% | 1.34% | |
| Lincoln Savings Bank | 0.08% | 4.20% | |
| Quicken Loans | 0.08% | 1.28% | |
| Wells Fargo Bank | 0.11% | 1.77% | |
| DAS Acquisition Company | 0.12% | 8.04% | |
| Farmers State Bank | 0.40% | 13.95% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Iowa Bankers Mortgage Corporation | -0.21% | 17.58% | |
| Veridian Credit Union | -0.12% | 18.09% | |
| Collins Community Credit Union | -0.10% | 3.92% | |
| BankIowa | -0.02% | 3.84% | |
| Deere Employees Credit Union | -0.01% | 1.62% | |
| Dupaco Community Credit Union | -0.00% | 3.50% | |
| GreenState Credit Union | 0.01% | 22.87% | |
| DAS Acquisition Company | 0.09% | 1.79% | |
| Lincoln Savings Bank | 0.13% | 3.24% | |
| Wells Fargo Bank | 0.14% | 0.94% | |
| US Bank | 0.18% | 2.13% | |
| Quicken Loans | 0.23% | 7.59% | |
| Farmers State Bank | 0.25% | 12.88% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Veridian Credit Union | -0.18% | 24.06% | |
| Iowa Bankers Mortgage Corporation | -0.14% | 14.33% | |
| Collins Community Credit Union | -0.08% | 3.82% | |
| Dupaco Community Credit Union | -0.05% | 3.44% | |
| BankIowa | -0.03% | 2.90% | |
| Deere Employees Credit Union | -0.00% | 1.58% | |
| GreenState Credit Union | -0.00% | 21.98% | |
| US Bank | 0.06% | 2.63% | |
| Lincoln Savings Bank | 0.11% | 3.59% | |
| DAS Acquisition Company | 0.11% | 3.17% | |
| Wells Fargo Bank | 0.13% | 1.47% | |
| Quicken Loans | 0.32% | 2.59% | |
| Farmers State Bank | 0.35% | 14.45% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Veridian Credit Union | -0.21% | 28.43% | |
| Dupaco Community Credit Union | -0.10% | 3.24% | |
| Collins Community Credit Union | -0.06% | 3.71% | |
| Iowa Bankers Mortgage Corporation | -0.05% | 11.14% | |
| BankIowa | -0.04% | 2.03% | |
| GreenState Credit Union | -0.01% | 20.86% | |
| US Bank | -0.01% | 2.97% | |
| Deere Employees Credit Union | 0.00% | 1.49% | |
| Lincoln Savings Bank | 0.10% | 3.85% | |
| DAS Acquisition Company | 0.12% | 4.39% | |
| Wells Fargo Bank | 0.12% | 1.82% | |
| Quicken Loans | 0.14% | 0.81% | |
| Farmers State Bank | 0.41% | 15.26% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Iowa Bankers Mortgage Corporation | -0.21% | 18.59% | |
| Veridian Credit Union | -0.12% | 18.23% | |
| Collins Community Credit Union | -0.10% | 3.97% | |
| BankIowa | -0.02% | 4.06% | |
| Deere Employees Credit Union | -0.01% | 1.71% | |
| Dupaco Community Credit Union | -0.00% | 3.70% | |
| GreenState Credit Union | 0.01% | 23.47% | |
| DAS Acquisition Company | 0.10% | 1.53% | |
| Lincoln Savings Bank | 0.13% | 3.25% | |
| Wells Fargo Bank | 0.14% | 0.99% | |
| US Bank | 0.18% | 2.17% | |
| Farmers State Bank | 0.26% | 13.36% | |
| Quicken Loans | 0.36% | 4.96% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Lincoln Savings Bank | -0.10% | 6.67% | |
| BankIowa | -0.09% | 3.81% | |
| Quicken Loans | -0.08% | 31.43% | |
| Iowa Bankers Mortgage Corporation | -0.06% | 1.90% | |
| US Bank | -0.04% | 3.81% | |
| DAS Acquisition Company | 0.07% | 52.38% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Lincoln Savings Bank | -0.13% | 9.21% | |
| BankIowa | -0.12% | 5.26% | |
| Iowa Bankers Mortgage Corporation | -0.09% | 2.63% | |
| US Bank | -0.08% | 3.95% | |
| Quicken Loans | -0.07% | 10.53% | |
| DAS Acquisition Company | 0.05% | 68.42% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Quicken Loans | -0.01% | 86.21% | |
| US Bank | 0.06% | 3.45% | |
| DAS Acquisition Company | 0.07% | 10.34% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| GreenState Credit Union | 0.00% | 40.00% | |
| Farmers State Bank | 0.00% | 60.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| GreenState Credit Union | 0.00% | 25.00% | |
| Farmers State Bank | 0.00% | 75.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| GreenState Credit Union | 0.00% | 50.00% | |
| Farmers State Bank | 0.00% | 50.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Veridian Credit Union | -0.08% | 40.00% | |
| GreenState Credit Union | -0.01% | 16.36% | |
| Collins Community Credit Union | 0.03% | 5.45% | |
| BankIowa | 0.04% | 1.82% | |
| Iowa Bankers Mortgage Corporation | 0.04% | 1.82% | |
| US Bank | 0.04% | 2.73% | |
| Wells Fargo Bank | 0.07% | 1.82% | |
| Lincoln Savings Bank | 0.08% | 6.36% | |
| Quicken Loans | 0.09% | 9.09% | |
| DAS Acquisition Company | 0.10% | 14.55% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Veridian Credit Union | -0.08% | 41.98% | |
| GreenState Credit Union | -0.01% | 16.05% | |
| Collins Community Credit Union | 0.03% | 4.94% | |
| BankIowa | 0.05% | 2.47% | |
| Iowa Bankers Mortgage Corporation | 0.05% | 2.47% | |
| US Bank | 0.05% | 3.70% | |
| Quicken Loans | 0.06% | 1.23% | |
| Wells Fargo Bank | 0.07% | 2.47% | |
| Lincoln Savings Bank | 0.08% | 6.17% | |
| DAS Acquisition Company | 0.11% | 18.52% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Veridian Credit Union | -0.09% | 34.48% | |
| GreenState Credit Union | -0.01% | 17.24% | |
| Collins Community Credit Union | 0.03% | 6.90% | |
| DAS Acquisition Company | 0.05% | 3.45% | |
| Lincoln Savings Bank | 0.07% | 6.90% | |
| Quicken Loans | 0.08% | 31.03% |
* Data is compiled for the Waterloo, IA commuting zone area, which comprises of counties of Black Hawk County, IA, Bremer County, IA, Buchanan County, IA, Butler County, IA, Fayette County, IA, and Grundy County, IA. This includes cities/towns/communities of Waterloo, IA as well as Cedar Falls, IA, Waverly, IA, Independence, IA, Elk Run Heights, IA, Janesville, IA, Hudson, IA, Raymond, IA, Morrison, IA, Oelwein, IA, Washburn, IA, Jesup, IA, Parkersburg, IA, Dunkerton, IA, Quasqueton, IA, New Hartford, IA, Wellsburg, IA, Hazleton, IA, Tripoli, IA, Grundy Center, IA, Shell Rock, IA, Plainfield, IA, Greene, IA, Maynard, IA, Winthrop, IA, Sumner, IA, Stanley, IA, Readlyn, IA, Randalia, IA, Elgin, IA, West Union, IA, Beaman, IA, and Aredale, IA. 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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