Which mortgage lender in the Allentown, 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 Allentown, 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 Allentown, PA area in terms of interest rate is PSECU, with an average “Rate Difference” of -0.35%. This means that, comparing similar borrowers, PSECU provided a -0.35% lower interest rate for its customers than other lenders in the area. PSECU has a market share of 1.1%. On the other hand, the most popular lender in the Allentown, PA area is Quicken Loans, with a larger market share of 8.9%. However, Quicken Loans also tends to be an expensive lender in the area, with an average “Rate Difference” of +0.15% compared to those of other lenders. We recommend shopping around before going with this popular lender.
Our detailed ranking of mortgage lenders in the Allentown, 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 Allentown, PA is PSECU. 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 Bank of America. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Customers 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 Allentown, PA
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Bank of America | -0.05% | 5.71% | |
| Embassy Bank For The Lehigh Valley | -0.01% | 13.33% | |
| Wells Fargo Bank | -0.01% | 15.24% | |
| JPMorgan Chase Bank | -0.01% | 4.76% | |
| ESSA Bank & Trust | -0.01% | 4.76% | |
| Santander Bank | -0.00% | 3.81% | |
| Provident Funding | -0.00% | 0.95% | |
| TD Bank | -0.00% | 1.90% | |
| Navy Federal Credit Union | -0.00% | 2.86% | |
| First National Bank of Pennsylvania | 0.00% | 2.86% | |
| Fulton Bank | 0.00% | 4.76% | |
| KeyBank | 0.00% | 2.86% | |
| Residential Mortgage Services | 0.00% | 1.90% | |
| Ephrata National Bank | 0.01% | 0.95% | |
| Trident Mortgage | 0.01% | 3.81% | |
| PNC Bank | 0.01% | 0.95% | |
| Quaint Oak Mortgage | 0.01% | 0.95% | |
| Allied Mortgage Group | 0.01% | 0.95% | |
| Truist Bank | 0.01% | 9.52% | |
| AnnieMac Home Mortgage | 0.02% | 1.90% | |
| Mortgage America | 0.02% | 2.86% | |
| Caliber Home Loans | 0.03% | 4.76% | |
| Embrace Home Loans | 0.03% | 1.90% | |
| Mid Penn Bank | 0.03% | 0.95% | |
| loanDepot | 0.04% | 1.90% | |
| Finance of America Mortgage | 0.04% | 2.86% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Bank of America | -0.05% | 8.06% | |
| Wells Fargo Bank | -0.02% | 12.90% | |
| Embassy Bank For The Lehigh Valley | -0.02% | 9.68% | |
| JPMorgan Chase Bank | -0.02% | 6.45% | |
| ESSA Bank & Trust | -0.01% | 3.23% | |
| Navy Federal Credit Union | -0.00% | 3.23% | |
| TD Bank | 0.00% | 3.23% | |
| First National Bank of Pennsylvania | 0.00% | 4.84% | |
| Fulton Bank | 0.00% | 6.45% | |
| KeyBank | 0.01% | 1.61% | |
| Residential Mortgage Services | 0.01% | 1.61% | |
| Ephrata National Bank | 0.01% | 1.61% | |
| Quaint Oak Mortgage | 0.01% | 1.61% | |
| Trident Mortgage | 0.01% | 4.84% | |
| Allied Mortgage Group | 0.01% | 1.61% | |
| Truist Bank | 0.02% | 9.68% | |
| AnnieMac Home Mortgage | 0.02% | 3.23% | |
| Embrace Home Loans | 0.03% | 3.23% | |
| loanDepot | 0.04% | 3.23% | |
| Caliber Home Loans | 0.04% | 4.84% | |
| Finance of America Mortgage | 0.04% | 4.84% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Embassy Bank For The Lehigh Valley | -0.01% | 18.60% | |
| Santander Bank | -0.01% | 9.30% | |
| Provident Funding | -0.01% | 2.33% | |
| ESSA Bank & Trust | -0.00% | 6.98% | |
| Bank of America | -0.00% | 2.33% | |
| Wells Fargo Bank | -0.00% | 18.60% | |
| Trident Mortgage | -0.00% | 2.33% | |
| KeyBank | -0.00% | 4.65% | |
| Residential Mortgage Services | 0.00% | 2.33% | |
| Fulton Bank | 0.00% | 2.33% | |
| Caliber Home Loans | 0.00% | 4.65% | |
| Navy Federal Credit Union | 0.01% | 2.33% | |
| PNC Bank | 0.01% | 2.33% | |
| Truist Bank | 0.01% | 9.30% | |
| JPMorgan Chase Bank | 0.02% | 2.33% | |
| Mortgage America | 0.02% | 6.98% | |
| Mid Penn Bank | 0.03% | 2.33% |
* Data is compiled for the Allentown, PA commuting zone area, which comprises of counties of Berks County, PA, Carbon County, PA, Lehigh County, PA, Northampton County, PA, and Schuylkill County, PA. This includes cities/towns/communities of Allentown, PA as well as Bethlehem, PA, Reading, PA, Middletown, PA, Ancient Oaks, PA, Easton, PA, Bethlehem, PA, Fullerton, PA, Amity Gardens, PA, Emmaus, PA, Blandon, PA, Montrose Manor, PA, Breinigsville, PA, Wyomissing, PA, Jacksonwald, PA, Whitfield, PA, Lorane, PA, Cherryville, PA, Towamensing Trails, PA, Riverview Park, PA, Northampton, PA, Dorneyville, PA, Wernersville, PA, Laurys Station, PA, Wescosville, PA, Palmer Heights, PA, Alburtis, PA, Old Orchard, PA, Lake Wynonah, PA, Eastlawn Gardens, PA, Pennside, PA, Wilson, PA, Gibraltar, PA, DeSales University, PA, Stouchsburg, PA, New Jerusalem, PA, Bally, PA, Oley, PA, Raubsville, PA, Shillington, PA, Flying Hills, PA, West Wyomissing, PA, Womelsdorf, PA, Slatedale, PA, Temple, PA, Bowmanstown, PA, Bangor, PA, Belfast, PA, Holiday Pocono, PA, Catasauqua, PA, and Cetronia, 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 Allentown, PA area. For mortgage lender rankings in other cities, click here.