Top Mortgage Lenders in Bloomington, IL

Which mortgage lender in the Bloomington, IL area typically has the best rates? To help you narrow down where to shop for a mortgage, 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

Mortgage Type:
Lender NameRate DifferenceRate RatingMarket Share
Illinois State Credit Union-0.26%(5.0)3.90%
Busey Bank-0.11%(4.0)11.47%
Marine Bank-0.11%(4.0)5.79%
State Farm Bank-0.08%(4.0)4.22%
Morton Community Bank-0.07%(4.0)1.47%
Flanagan State Bank-0.06%(4.0)5.08%
Heartland Bank and Trust Company-0.04%(3.5)6.79%
JPMorgan Chase Bank-0.02%(3.5)1.54%
Wells Fargo Bank-0.02%(3.5)2.57%
IAA Credit Union-0.01%(3.5)1.97%
INB, National Association-0.01%(3.5)2.86%
Barrington Bank & Trust0.05%(3.5)2.72%
Waterstone Mortgage Corporation0.08%(3.0)2.04%
First State Mortgage Bloomington0.10%(3.0)26.09%
PNC Bank0.11%(3.0)6.90%
Quicken Loans0.11%(3.0)4.61%
Compass Mortgage0.15%(3.0)3.57%
Lender NameRate DifferenceRate RatingMarket Share
Illinois State Credit Union-0.20%(4.5)2.41%
Busey Bank-0.13%(4.0)11.09%
State Farm Bank-0.13%(4.0)4.93%
Marine Bank-0.09%(4.0)5.95%
PNC Bank-0.08%(4.0)4.82%
Morton Community Bank-0.06%(4.0)1.07%
Wells Fargo Bank-0.05%(4.0)3.11%
Flanagan State Bank-0.05%(4.0)3.27%
JPMorgan Chase Bank-0.05%(3.5)1.87%
IAA Credit Union-0.03%(3.5)1.77%
Heartland Bank and Trust Company-0.02%(3.5)4.82%
INB, National Association-0.02%(3.5)2.95%
Quicken Loans0.06%(3.0)3.27%
Barrington Bank & Trust0.07%(3.0)2.79%
Waterstone Mortgage Corporation0.07%(3.0)2.84%
First State Mortgage Bloomington0.12%(3.0)32.24%
Compass Mortgage0.15%(3.0)4.87%
Lender NameRate DifferenceRate RatingMarket Share
Illinois State Credit Union-0.28%(5.0)6.87%
Marine Bank-0.15%(4.0)5.48%
Busey Bank-0.07%(4.0)12.24%
Morton Community Bank-0.06%(4.0)2.26%
Flanagan State Bank-0.06%(4.0)8.70%
Heartland Bank and Trust Company-0.03%(3.5)10.74%
Barrington Bank & Trust0.01%(3.5)2.58%
First State Mortgage Bloomington0.02%(3.5)13.75%
IAA Credit Union0.02%(3.5)2.36%
INB, National Association0.03%(3.5)2.69%
JPMorgan Chase Bank0.05%(3.5)0.86%
Waterstone Mortgage Corporation0.06%(3.0)0.43%
Compass Mortgage0.07%(3.0)0.97%
State Farm Bank0.07%(3.0)2.79%
Wells Fargo Bank0.10%(3.0)1.50%
Quicken Loans0.17%(2.5)7.30%
PNC Bank0.28%(2.0)11.06%
Lender NameRate DifferenceRate RatingMarket Share
Illinois State Credit Union-0.25%(5.0)4.60%
Marine Bank-0.12%(4.0)5.74%
Busey Bank-0.11%(4.0)12.24%
State Farm Bank-0.08%(4.0)4.94%
Flanagan State Bank-0.07%(4.0)5.74%
Morton Community Bank-0.07%(4.0)1.73%
Heartland Bank and Trust Company-0.03%(3.5)8.02%
Wells Fargo Bank-0.03%(3.5)2.53%
JPMorgan Chase Bank-0.02%(3.5)1.77%
IAA Credit Union-0.01%(3.5)2.32%
INB, National Association-0.00%(3.5)3.25%
Waterstone Mortgage Corporation0.04%(3.5)0.51%
Barrington Bank & Trust0.05%(3.0)2.87%
PNC Bank0.13%(3.0)7.18%
First State Mortgage Bloomington0.14%(3.0)23.13%
Compass Mortgage0.18%(2.5)3.04%
Quicken Loans0.21%(2.5)2.83%
Lender NameRate DifferenceRate RatingMarket Share
Illinois State Credit Union-0.20%(4.5)2.98%
Busey Bank-0.13%(4.0)11.85%
State Farm Bank-0.13%(4.0)6.03%
Marine Bank-0.10%(4.0)5.83%
Wells Fargo Bank-0.08%(4.0)3.05%
PNC Bank-0.08%(4.0)4.90%
Flanagan State Bank-0.06%(4.0)3.64%
Morton Community Bank-0.06%(4.0)1.32%
JPMorgan Chase Bank-0.05%(4.0)2.25%
IAA Credit Union-0.03%(3.5)2.19%
Heartland Bank and Trust Company-0.02%(3.5)5.96%
INB, National Association-0.02%(3.5)3.44%
Waterstone Mortgage Corporation0.03%(3.5)0.73%
Barrington Bank & Trust0.07%(3.0)2.98%
Quicken Loans0.14%(3.0)1.99%
First State Mortgage Bloomington0.16%(2.5)29.07%
Compass Mortgage0.17%(2.5)4.44%
Lender NameRate DifferenceRate RatingMarket Share
Illinois State Credit Union-0.28%(5.0)7.45%
Marine Bank-0.15%(4.5)5.59%
Busey Bank-0.08%(4.0)12.92%
Morton Community Bank-0.06%(4.0)2.44%
Flanagan State Bank-0.05%(4.0)9.43%
Heartland Bank and Trust Company-0.03%(3.5)11.64%
Barrington Bank & Trust0.01%(3.5)2.68%
IAA Credit Union0.02%(3.5)2.56%
First State Mortgage Bloomington0.03%(3.5)12.69%
INB, National Association0.03%(3.5)2.91%
Waterstone Mortgage Corporation0.04%(3.5)0.12%
JPMorgan Chase Bank0.05%(3.0)0.93%
State Farm Bank0.07%(3.0)3.03%
Compass Mortgage0.09%(3.0)0.58%
Wells Fargo Bank0.10%(3.0)1.63%
Quicken Loans0.28%(2.0)4.31%
PNC Bank0.30%(2.0)11.18%
Lender NameRate DifferenceRate RatingMarket Share
Busey Bank-0.12%(4.0)7.14%
PNC Bank-0.10%(4.0)2.14%
Marine Bank-0.03%(3.5)2.86%
First State Mortgage Bloomington-0.01%(3.5)44.29%
INB, National Association-0.01%(3.5)0.71%
Quicken Loans-0.01%(3.5)17.86%
Wells Fargo Bank-0.00%(3.5)0.36%
Barrington Bank & Trust0.02%(3.5)1.43%
Flanagan State Bank0.04%(3.5)1.79%
Compass Mortgage0.07%(3.0)6.43%
Waterstone Mortgage Corporation0.08%(3.0)15.00%
Lender NameRate DifferenceRate RatingMarket Share
Busey Bank-0.12%(4.0)8.06%
PNC Bank-0.10%(4.0)2.42%
Quicken Loans-0.03%(3.5)10.48%
Marine Bank-0.03%(3.5)3.23%
First State Mortgage Bloomington-0.01%(3.5)47.98%
INB, National Association-0.01%(3.5)0.81%
Wells Fargo Bank-0.00%(3.5)0.40%
Barrington Bank & Trust0.02%(3.5)1.61%
Flanagan State Bank0.04%(3.5)2.02%
Compass Mortgage0.08%(3.0)6.85%
Waterstone Mortgage Corporation0.09%(3.0)16.13%
Lender NameRate DifferenceRate RatingMarket Share
Compass Mortgage-0.02%(3.5)3.12%
Quicken Loans-0.00%(3.5)75.00%
First State Mortgage Bloomington0.00%(3.5)15.62%
Waterstone Mortgage Corporation0.01%(3.5)6.25%
Lender NameRate DifferenceRate RatingMarket Share
Wells Fargo Bank-0.01%(3.5)33.33%
PNC Bank0.00%(3.5)33.33%
JPMorgan Chase Bank0.01%(3.5)33.33%
Lender NameRate DifferenceRate RatingMarket Share
Wells Fargo Bank-0.01%(3.5)50.00%
JPMorgan Chase Bank0.01%(3.5)50.00%
Lender NameRate DifferenceRate RatingMarket Share
PNC Bank0.00%(3.5)100.00%
Lender NameRate DifferenceRate RatingMarket Share
Marine Bank-0.06%(4.0)12.33%
PNC Bank-0.03%(3.5)10.96%
Flanagan State Bank-0.01%(3.5)0.68%
Waterstone Mortgage Corporation-0.01%(3.5)2.05%
Busey Bank-0.00%(3.5)7.53%
First State Mortgage Bloomington0.00%(3.5)39.73%
INB, National Association0.00%(3.5)0.68%
Barrington Bank & Trust0.01%(3.5)2.74%
State Farm Bank0.01%(3.5)0.68%
Quicken Loans0.03%(3.5)8.22%
Compass Mortgage0.04%(3.5)6.85%
Wells Fargo Bank0.07%(3.0)6.85%
Lender NameRate DifferenceRate RatingMarket Share
Marine Bank-0.07%(4.0)14.02%
PNC Bank-0.06%(4.0)9.35%
Waterstone Mortgage Corporation-0.02%(3.5)1.87%
Busey Bank-0.02%(3.5)7.48%
Flanagan State Bank-0.01%(3.5)0.93%
INB, National Association-0.01%(3.5)0.93%
State Farm Bank0.00%(3.5)0.93%
Barrington Bank & Trust0.00%(3.5)2.80%
First State Mortgage Bloomington0.01%(3.5)41.12%
Quicken Loans0.04%(3.5)4.67%
Compass Mortgage0.05%(3.5)6.54%
Wells Fargo Bank0.06%(3.0)9.35%
Lender NameRate DifferenceRate RatingMarket Share
First State Mortgage Bloomington-0.04%(3.5)35.90%
Marine Bank-0.01%(3.5)7.69%
Waterstone Mortgage Corporation0.02%(3.5)2.56%
Barrington Bank & Trust0.02%(3.5)2.56%
Busey Bank0.02%(3.5)7.69%
Compass Mortgage0.03%(3.5)7.69%
Quicken Loans0.03%(3.5)17.95%
PNC Bank0.03%(3.5)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

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