Which mortgage lender in the Bloomington, IL 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 Bloomington, 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 Bloomington, IL area in terms of interest rate is Illinois State Credit Union, with an average “Rate Difference” of -0.26%. This means that, comparing similar borrowers, Illinois State Credit Union provided a -0.26% lower interest rate for its customers than other lenders in the area. Illinois State Credit Union has a market share of 3.9%. On the other hand, the most popular lender in the Bloomington, IL area is First State Mortgage Bloomington, with a larger market share of 26.1%. However, First State Mortgage Bloomington also tends to be an expensive lender in the area, with an average “Rate Difference” of +0.10% compared to those of other lenders. We recommend shopping around before going with this popular lender.
Our detailed ranking of mortgage lenders in the Bloomington, 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 Bloomington, IL is Illinois State 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 Wells Fargo Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Busey Bank. The cheapest VA mortgage provider is Marine Bank. 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 Bloomington, IL
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Illinois State Credit Union | -0.26% | 3.90% | |
| CEFCU | -0.12% | 6.43% | |
| Busey Bank | -0.11% | 11.47% | |
| Marine Bank | -0.11% | 5.79% | |
| State Farm Bank | -0.08% | 4.22% | |
| Morton Community Bank | -0.07% | 1.47% | |
| Flanagan State Bank | -0.06% | 5.08% | |
| Heartland Bank and Trust Company | -0.04% | 6.79% | |
| JPMorgan Chase Bank | -0.02% | 1.54% | |
| Wells Fargo Bank | -0.02% | 2.57% | |
| IAA Credit Union | -0.01% | 1.97% | |
| INB, National Association | -0.01% | 2.86% | |
| Barrington Bank & Trust | 0.05% | 2.72% | |
| Waterstone Mortgage Corporation | 0.08% | 2.04% | |
| First State Mortgage Bloomington | 0.10% | 26.09% | |
| PNC Bank | 0.11% | 6.90% | |
| Quicken Loans | 0.11% | 4.61% | |
| Compass Mortgage | 0.15% | 3.57% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Illinois State Credit Union | -0.20% | 2.41% | |
| CEFCU | -0.14% | 5.95% | |
| Busey Bank | -0.13% | 11.09% | |
| State Farm Bank | -0.13% | 4.93% | |
| Marine Bank | -0.09% | 5.95% | |
| PNC Bank | -0.08% | 4.82% | |
| Morton Community Bank | -0.06% | 1.07% | |
| Wells Fargo Bank | -0.05% | 3.11% | |
| Flanagan State Bank | -0.05% | 3.27% | |
| JPMorgan Chase Bank | -0.05% | 1.87% | |
| IAA Credit Union | -0.03% | 1.77% | |
| Heartland Bank and Trust Company | -0.02% | 4.82% | |
| INB, National Association | -0.02% | 2.95% | |
| Quicken Loans | 0.06% | 3.27% | |
| Barrington Bank & Trust | 0.07% | 2.79% | |
| Waterstone Mortgage Corporation | 0.07% | 2.84% | |
| First State Mortgage Bloomington | 0.12% | 32.24% | |
| Compass Mortgage | 0.15% | 4.87% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Illinois State Credit Union | -0.28% | 6.87% | |
| Marine Bank | -0.15% | 5.48% | |
| CEFCU | -0.09% | 7.41% | |
| Busey Bank | -0.07% | 12.24% | |
| Morton Community Bank | -0.06% | 2.26% | |
| Flanagan State Bank | -0.06% | 8.70% | |
| Heartland Bank and Trust Company | -0.03% | 10.74% | |
| Barrington Bank & Trust | 0.01% | 2.58% | |
| First State Mortgage Bloomington | 0.02% | 13.75% | |
| IAA Credit Union | 0.02% | 2.36% | |
| INB, National Association | 0.03% | 2.69% | |
| JPMorgan Chase Bank | 0.05% | 0.86% | |
| Waterstone Mortgage Corporation | 0.06% | 0.43% | |
| Compass Mortgage | 0.07% | 0.97% | |
| State Farm Bank | 0.07% | 2.79% | |
| Wells Fargo Bank | 0.10% | 1.50% | |
| Quicken Loans | 0.17% | 7.30% | |
| PNC Bank | 0.28% | 11.06% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Illinois State Credit Union | -0.25% | 4.60% | |
| CEFCU | -0.12% | 7.56% | |
| Marine Bank | -0.12% | 5.74% | |
| Busey Bank | -0.11% | 12.24% | |
| State Farm Bank | -0.08% | 4.94% | |
| Flanagan State Bank | -0.07% | 5.74% | |
| Morton Community Bank | -0.07% | 1.73% | |
| Heartland Bank and Trust Company | -0.03% | 8.02% | |
| Wells Fargo Bank | -0.03% | 2.53% | |
| JPMorgan Chase Bank | -0.02% | 1.77% | |
| IAA Credit Union | -0.01% | 2.32% | |
| INB, National Association | -0.00% | 3.25% | |
| Waterstone Mortgage Corporation | 0.04% | 0.51% | |
| Barrington Bank & Trust | 0.05% | 2.87% | |
| PNC Bank | 0.13% | 7.18% | |
| First State Mortgage Bloomington | 0.14% | 23.13% | |
| Compass Mortgage | 0.18% | 3.04% | |
| Quicken Loans | 0.21% | 2.83% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Illinois State Credit Union | -0.20% | 2.98% | |
| CEFCU | -0.14% | 7.35% | |
| Busey Bank | -0.13% | 11.85% | |
| State Farm Bank | -0.13% | 6.03% | |
| Marine Bank | -0.10% | 5.83% | |
| Wells Fargo Bank | -0.08% | 3.05% | |
| PNC Bank | -0.08% | 4.90% | |
| Flanagan State Bank | -0.06% | 3.64% | |
| Morton Community Bank | -0.06% | 1.32% | |
| JPMorgan Chase Bank | -0.05% | 2.25% | |
| IAA Credit Union | -0.03% | 2.19% | |
| Heartland Bank and Trust Company | -0.02% | 5.96% | |
| INB, National Association | -0.02% | 3.44% | |
| Waterstone Mortgage Corporation | 0.03% | 0.73% | |
| Barrington Bank & Trust | 0.07% | 2.98% | |
| Quicken Loans | 0.14% | 1.99% | |
| First State Mortgage Bloomington | 0.16% | 29.07% | |
| Compass Mortgage | 0.17% | 4.44% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Illinois State Credit Union | -0.28% | 7.45% | |
| Marine Bank | -0.15% | 5.59% | |
| CEFCU | -0.09% | 7.92% | |
| Busey Bank | -0.08% | 12.92% | |
| Morton Community Bank | -0.06% | 2.44% | |
| Flanagan State Bank | -0.05% | 9.43% | |
| Heartland Bank and Trust Company | -0.03% | 11.64% | |
| Barrington Bank & Trust | 0.01% | 2.68% | |
| IAA Credit Union | 0.02% | 2.56% | |
| First State Mortgage Bloomington | 0.03% | 12.69% | |
| INB, National Association | 0.03% | 2.91% | |
| Waterstone Mortgage Corporation | 0.04% | 0.12% | |
| JPMorgan Chase Bank | 0.05% | 0.93% | |
| State Farm Bank | 0.07% | 3.03% | |
| Compass Mortgage | 0.09% | 0.58% | |
| Wells Fargo Bank | 0.10% | 1.63% | |
| Quicken Loans | 0.28% | 4.31% | |
| PNC Bank | 0.30% | 11.18% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Busey Bank | -0.12% | 7.14% | |
| PNC Bank | -0.10% | 2.14% | |
| Marine Bank | -0.03% | 2.86% | |
| First State Mortgage Bloomington | -0.01% | 44.29% | |
| INB, National Association | -0.01% | 0.71% | |
| Quicken Loans | -0.01% | 17.86% | |
| Wells Fargo Bank | -0.00% | 0.36% | |
| Barrington Bank & Trust | 0.02% | 1.43% | |
| Flanagan State Bank | 0.04% | 1.79% | |
| Compass Mortgage | 0.07% | 6.43% | |
| Waterstone Mortgage Corporation | 0.08% | 15.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Busey Bank | -0.12% | 8.06% | |
| PNC Bank | -0.10% | 2.42% | |
| Quicken Loans | -0.03% | 10.48% | |
| Marine Bank | -0.03% | 3.23% | |
| First State Mortgage Bloomington | -0.01% | 47.98% | |
| INB, National Association | -0.01% | 0.81% | |
| Wells Fargo Bank | -0.00% | 0.40% | |
| Barrington Bank & Trust | 0.02% | 1.61% | |
| Flanagan State Bank | 0.04% | 2.02% | |
| Compass Mortgage | 0.08% | 6.85% | |
| Waterstone Mortgage Corporation | 0.09% | 16.13% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Compass Mortgage | -0.02% | 3.12% | |
| Quicken Loans | -0.00% | 75.00% | |
| First State Mortgage Bloomington | 0.00% | 15.62% | |
| Waterstone Mortgage Corporation | 0.01% | 6.25% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.01% | 33.33% | |
| PNC Bank | 0.00% | 33.33% | |
| JPMorgan Chase Bank | 0.01% | 33.33% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.01% | 50.00% | |
| JPMorgan Chase Bank | 0.01% | 50.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| PNC Bank | 0.00% | 100.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Marine Bank | -0.06% | 12.33% | |
| PNC Bank | -0.03% | 10.96% | |
| Flanagan State Bank | -0.01% | 0.68% | |
| Waterstone Mortgage Corporation | -0.01% | 2.05% | |
| Busey Bank | -0.00% | 7.53% | |
| First State Mortgage Bloomington | 0.00% | 39.73% | |
| INB, National Association | 0.00% | 0.68% | |
| Barrington Bank & Trust | 0.01% | 2.74% | |
| State Farm Bank | 0.01% | 0.68% | |
| CEFCU | 0.01% | 0.68% | |
| Quicken Loans | 0.03% | 8.22% | |
| Compass Mortgage | 0.04% | 6.85% | |
| Wells Fargo Bank | 0.07% | 6.85% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Marine Bank | -0.07% | 14.02% | |
| PNC Bank | -0.06% | 9.35% | |
| Waterstone Mortgage Corporation | -0.02% | 1.87% | |
| Busey Bank | -0.02% | 7.48% | |
| Flanagan State Bank | -0.01% | 0.93% | |
| INB, National Association | -0.01% | 0.93% | |
| State Farm Bank | 0.00% | 0.93% | |
| Barrington Bank & Trust | 0.00% | 2.80% | |
| First State Mortgage Bloomington | 0.01% | 41.12% | |
| Quicken Loans | 0.04% | 4.67% | |
| Compass Mortgage | 0.05% | 6.54% | |
| Wells Fargo Bank | 0.06% | 9.35% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First State Mortgage Bloomington | -0.04% | 35.90% | |
| Marine Bank | -0.01% | 7.69% | |
| Waterstone Mortgage Corporation | 0.02% | 2.56% | |
| Barrington Bank & Trust | 0.02% | 2.56% | |
| Busey Bank | 0.02% | 7.69% | |
| Compass Mortgage | 0.03% | 7.69% | |
| CEFCU | 0.03% | 2.56% | |
| Quicken Loans | 0.03% | 17.95% | |
| PNC Bank | 0.03% | 15.38% |
* Data is compiled for the Bloomington, IL commuting zone area, which comprises of counties of De Witt County, IL, Livingston County, IL, and McLean County, IL. This includes cities/towns/communities of Bloomington, IL as well as Normal, IL, Towanda, IL, Lexington, IL, Dwight, IL, Le Roy, IL, Pontiac, IL, Wapella, IL, McLean, IL, Carlock, IL, Fairbury, IL, Farmer City, IL, Clinton, IL, Bellflower, IL, Saybrook, IL, Cornell, IL, Cooksville, IL, Twin Grove, IL, Streator, IL, and Saunemin, 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
This page contains information about the top mortgage lenders in the Bloomington, IL area. For mortgage lender rankings in other cities, click here.