Which mortgage lender in the Scranton, 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 Scranton, 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 Scranton, PA area in terms of interest rate is PSECU, with an average “Rate Difference” of -0.33%. This means that, comparing similar borrowers, PSECU provided a -0.33% lower interest rate for its customers than other lenders in the area. PSECU has a market share of 1.8%. On the other hand, the most popular lender in the Scranton, PA area is Quicken Loans, with a larger market share of 13.3%. However, Quicken Loans also tends to be an expensive lender in the area, with an average “Rate Difference” of +0.12% compared to those of other lenders. We recommend shopping around before going with this popular lender.
Our detailed ranking of mortgage lenders in the Scranton, 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 Scranton, 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 PNC Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Caliber Home Loans. 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 Scranton, PA
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Quicken Loans | -0.04% | 45.43% | |
| Caliber Home Loans | -0.03% | 4.57% | |
| Carrington Mortgage Services | -0.01% | 8.29% | |
| Stearns Home Loans | -0.01% | 1.14% | |
| AnnieMac Home Mortgage | -0.00% | 2.86% | |
| Home Point Financial Corporation | 0.00% | 1.14% | |
| PennyMac Loan Services | 0.00% | 2.57% | |
| Guaranteed Rate | 0.01% | 0.57% | |
| Movement Mortgage | 0.02% | 0.29% | |
| Amerisave Mortgage Corporation | 0.02% | 1.14% | |
| HomeBridge Financial Services | 0.02% | 1.14% | |
| Fairway Independent Mortgage Corporation | 0.02% | 0.57% | |
| Navy Federal Credit Union | 0.02% | 0.29% | |
| NewRez | 0.02% | 1.43% | |
| Supreme Lending | 0.02% | 0.29% | |
| Finance of America Mortgage | 0.03% | 3.14% | |
| Trident Mortgage | 0.03% | 0.29% | |
| M&T Bank | 0.03% | 1.14% | |
| Residential Mortgage Services | 0.03% | 0.57% | |
| Benchmark | 0.03% | 0.29% | |
| Flagstar Bank | 0.03% | 1.14% | |
| PNC Bank | 0.03% | 0.29% | |
| New American Funding | 0.05% | 0.57% | |
| Atlantic Home Loans | 0.05% | 0.29% | |
| United Mortgage Corp | 0.05% | 0.86% | |
| loanDepot | 0.05% | 4.57% | |
| Summit Mortgage Corporation | 0.05% | 0.57% | |
| RealFi | 0.06% | 0.29% | |
| Cardinal Financial Company | 0.09% | 1.71% | |
| Mr. Cooper | 0.09% | 10.00% | |
| Freedom Mortgage Corporation | 0.14% | 2.57% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| PNC Bank | -0.01% | 10.71% | |
| Wells Fargo Bank | -0.01% | 10.71% | |
| Fidelity Bank Pennsylvania | -0.00% | 28.57% | |
| JPMorgan Chase Bank | 0.00% | 3.57% | |
| Bank of America | 0.00% | 3.57% | |
| Mortgage America | 0.00% | 7.14% | |
| First National Bank of Pennsylvania | 0.00% | 25.00% | |
| Finance of America Mortgage | 0.01% | 7.14% | |
| Navy Federal Credit Union | 0.01% | 3.57% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| PNC Bank | -0.01% | 15.79% | |
| Wells Fargo Bank | -0.00% | 10.53% | |
| Fidelity Bank Pennsylvania | -0.00% | 26.32% | |
| Mortgage America | -0.00% | 5.26% | |
| JPMorgan Chase Bank | 0.00% | 5.26% | |
| Bank of America | 0.00% | 5.26% | |
| First National Bank of Pennsylvania | 0.00% | 15.79% | |
| Finance of America Mortgage | 0.01% | 10.53% | |
| Navy Federal Credit Union | 0.01% | 5.26% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.01% | 11.11% | |
| Fidelity Bank Pennsylvania | 0.00% | 33.33% | |
| Mortgage America | 0.00% | 11.11% | |
| First National Bank of Pennsylvania | 0.00% | 44.44% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Home Point Financial Corporation | -0.10% | 4.97% | |
| USAA | -0.09% | 8.84% | |
| Finance of America Mortgage | -0.06% | 1.10% | |
| loanDepot | -0.05% | 10.50% | |
| NFM Lending | -0.04% | 0.55% | |
| Summit Mortgage Corporation | -0.03% | 1.66% | |
| Amerisave Mortgage Corporation | -0.03% | 1.66% | |
| Flagstar Bank | -0.03% | 0.55% | |
| Cardinal Financial Company | -0.03% | 1.10% | |
| Navy Federal Credit Union | -0.03% | 0.55% | |
| M&T Bank | -0.03% | 0.55% | |
| New American Funding | -0.02% | 1.10% | |
| Benchmark | -0.02% | 1.10% | |
| Supreme Lending | -0.02% | 0.55% | |
| Mortgage America | -0.02% | 0.55% | |
| PennyMac Loan Services | -0.02% | 7.73% | |
| Movement Mortgage | -0.02% | 0.55% | |
| Guaranteed Rate | -0.01% | 0.55% | |
| PNC Bank | -0.01% | 1.10% | |
| AnnieMac Home Mortgage | -0.01% | 0.55% | |
| Carrington Mortgage Services | -0.01% | 6.08% | |
| Caliber Home Loans | -0.01% | 3.31% | |
| NewRez | -0.01% | 0.55% | |
| Stearns Home Loans | -0.01% | 1.10% | |
| Residential Mortgage Services | -0.00% | 0.55% | |
| Homespire Mortgage | 0.00% | 0.55% | |
| HomeBridge Financial Services | 0.01% | 3.87% | |
| Fairway Independent Mortgage Corporation | 0.01% | 1.10% | |
| Mr. Cooper | 0.02% | 2.76% | |
| Freedom Mortgage Corporation | 0.06% | 3.31% | |
| Quicken Loans | 0.07% | 30.94% |
* Data is compiled for the Scranton, PA commuting zone area, which comprises of counties of Lackawanna County, PA, Luzerne County, PA, Monroe County, PA, Pike County, PA, Wayne County, PA, and Wyoming County, PA. This includes cities/towns/communities of Scranton, PA as well as Mountain Top, PA, Penn Estates, PA, Hazleton, PA, The Hideout, PA, Wilkes-Barre, PA, Hemlock Farms, PA, Chinchilla, PA, Beech Mountain Lakes, PA, Indian Mountain Lake, PA, Kingston, PA, Sierra View, PA, Saylorsburg, PA, Moscow, PA, Gold Key Lake, PA, Dunmore, PA, Saw Creek, PA, Effort, PA, Arlington Heights, PA, Trucksville, PA, Wallenpaupack Lake Estates, PA, Big Bass Lake, PA, Pocono Woodland Lakes, PA, Clarks Summit, PA, Pine Ridge, PA, Archbald, PA, Fawn Lake Forest, PA, Pocono Pines, PA, Mount Pocono, PA, Plains, PA, Old Forge, PA, Emerald Lakes, PA, Saw Creek, PA, Sun Valley, PA, Birchwood Lakes, PA, East Stroudsburg, PA, Blakely, PA, Carbondale, PA, Swoyersville, PA, Pittston, PA, Laurel Run, PA, Mountainhome, PA, Nanticoke, PA, Exeter, PA, Gouldsboro, PA, Olyphant, PA, West Hazleton, PA, Moosic, PA, East Berwick, PA, West Pittston, PA, and Forty Fort, 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 Scranton, PA area. For mortgage lender rankings in other cities, click here.