Which mortgage lender in the Portage, MI 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 Portage, MI 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 Portage, MI area in terms of interest rate is Arbor Financial Credit Union, with an average “Rate Difference” of -0.22%. This means that, comparing similar borrowers, Arbor Financial Credit Union provided a -0.22% lower interest rate for its customers than other lenders in the area. Arbor Financial Credit Union has a market share of 6.6%. On the other hand, the most popular lender in the Portage, MI area is Quicken Loans, with a larger market share of 9.6%. Quicken Loans is an average lender in terms of the interest rate it offers, with a “Rate Difference” of +0.10% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Portage, MI 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 Portage, MI is Arbor Financial 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 Old National Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Lake Michigan Credit Union. 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 Portage, MI
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Huntington National Bank | -0.05% | 2.28% | |
| Quicken Loans | -0.05% | 50.16% | |
| Mortgage Center | -0.02% | 2.93% | |
| NewRez | -0.01% | 2.61% | |
| TCF Bank | -0.00% | 0.98% | |
| Carrington Mortgage Services | -0.00% | 5.86% | |
| loanDepot | 0.00% | 5.21% | |
| Consumers Credit Union Michigan | 0.01% | 0.33% | |
| Ruoff Mortgage | 0.01% | 1.30% | |
| Home Point Financial Corporation | 0.01% | 1.63% | |
| Caliber Home Loans | 0.01% | 1.95% | |
| Cherry Creek Mortgage | 0.01% | 0.33% | |
| Guaranteed Rate | 0.02% | 0.33% | |
| Lake Michigan Credit Union | 0.02% | 0.98% | |
| Fifth Third Bank | 0.02% | 0.98% | |
| Member First Mortgage | 0.02% | 0.33% | |
| Union Home Mortgage | 0.02% | 0.33% | |
| Horicon Bank IN | 0.02% | 0.33% | |
| Flagstar Bank | 0.02% | 0.65% | |
| Mortgage 1 Inc | 0.03% | 0.33% | |
| PrimeLending | 0.04% | 0.33% | |
| Mr. Cooper | 0.06% | 3.26% | |
| Cardinal Financial Company | 0.07% | 1.30% | |
| Freedom Mortgage Corporation | 0.14% | 3.26% | |
| Amerifirst Home Mortgage | 0.14% | 8.14% | |
| Success Mortgage Partners | 0.16% | 3.91% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Old National Bank | -0.02% | 11.11% | |
| Huntington National Bank | -0.01% | 1.39% | |
| Lake Michigan Credit Union | -0.01% | 34.72% | |
| Fifth Third Bank | -0.01% | 5.56% | |
| TCF Bank | -0.01% | 4.17% | |
| Arbor Financial Credit Union | -0.00% | 5.56% | |
| JPMorgan Chase Bank | -0.00% | 5.56% | |
| Guaranteed Rate | -0.00% | 1.39% | |
| Wells Fargo Bank | 0.01% | 9.72% | |
| Independent Bank Michigan | 0.01% | 2.78% | |
| PNC Bank | 0.01% | 1.39% | |
| Kellogg Community Credit Union | 0.01% | 1.39% | |
| Horicon Bank IN | 0.02% | 4.17% | |
| Northpointe Bank | 0.03% | 5.56% | |
| Consumers Credit Union Michigan | 0.06% | 5.56% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Fifth Third Bank | -0.02% | 6.06% | |
| Old National Bank | -0.02% | 9.09% | |
| Huntington National Bank | -0.02% | 3.03% | |
| JPMorgan Chase Bank | -0.02% | 6.06% | |
| Lake Michigan Credit Union | -0.01% | 45.45% | |
| Wells Fargo Bank | 0.01% | 9.09% | |
| Independent Bank Michigan | 0.01% | 6.06% | |
| Kellogg Community Credit Union | 0.01% | 3.03% | |
| Consumers Credit Union Michigan | 0.06% | 12.12% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Old National Bank | -0.02% | 12.82% | |
| Lake Michigan Credit Union | -0.02% | 25.64% | |
| TCF Bank | -0.00% | 7.69% | |
| Arbor Financial Credit Union | -0.00% | 10.26% | |
| Guaranteed Rate | 0.00% | 2.56% | |
| Fifth Third Bank | 0.00% | 5.13% | |
| JPMorgan Chase Bank | 0.01% | 5.13% | |
| Wells Fargo Bank | 0.01% | 10.26% | |
| PNC Bank | 0.02% | 2.56% | |
| Horicon Bank IN | 0.02% | 7.69% | |
| Northpointe Bank | 0.03% | 10.26% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Carrington Mortgage Services | -0.06% | 5.08% | |
| USAA | -0.05% | 5.08% | |
| Navy Federal Credit Union | -0.05% | 2.26% | |
| Northpointe Bank | -0.05% | 1.69% | |
| Home Point Financial Corporation | -0.05% | 2.26% | |
| TCF Bank | -0.04% | 1.13% | |
| Lake Michigan Credit Union | -0.03% | 3.95% | |
| Cardinal Financial Company | -0.03% | 2.82% | |
| Mortgage Center | -0.03% | 3.95% | |
| Success Mortgage Partners | -0.03% | 4.52% | |
| Fifth Third Bank | -0.02% | 1.69% | |
| Caliber Home Loans | -0.02% | 1.69% | |
| Consumers Credit Union Michigan | -0.02% | 0.56% | |
| Huntington National Bank | -0.02% | 1.13% | |
| loanDepot | -0.02% | 6.78% | |
| Pacor Mortgage | -0.01% | 0.56% | |
| Flagstar Bank | -0.01% | 3.39% | |
| Mr. Cooper | -0.01% | 1.13% | |
| PrimeLending | -0.00% | 2.82% | |
| Amerifirst Home Mortgage | 0.00% | 2.82% | |
| Summit Home Mortgage | 0.02% | 0.56% | |
| NewRez | 0.03% | 3.39% | |
| Quicken Loans | 0.04% | 33.90% | |
| Freedom Mortgage Corporation | 0.05% | 6.78% |
* Data is compiled for the Portage, MI commuting zone area, which comprises of counties of Branch County, MI, Calhoun County, MI, Kalamazoo County, MI, St. Joseph County, MI, and Van Buren County, MI. This includes cities/towns/communities of Portage, MI as well as Battle Creek, MI, Kalamazoo, MI, Vicksburg, MI, Comstock Northwest, MI, Richland, MI, Three Rivers, MI, South Haven, MI, Galesburg, MI, Coldwater, MI, Marshall, MI, Westwood, MI, Lawton, MI, Mattawan, MI, Sturgis, MI, Augusta, MI, Paw Paw, MI, Gobles, MI, Centreville, MI, Schoolcraft, MI, Level Park-Oak Park, MI, Decatur, MI, Breedsville, MI, Quincy, MI, Climax, MI, Bangor, MI, Constantine, MI, Lawrence, MI, Union City, MI, White Pigeon, MI, Springfield, MI, Albion, MI, Bronson, MI, Tekonsha, MI, Union City, MI, Homer, MI, Sherwood, MI, Burr Oak, MI, Parchment, MI, Mendon, MI, Hartford, MI, and Brownlee Park, MI. 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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