Which mortgage lender in the North Port, FL 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 North Port, FL area by interest rate and market share. Unlike our competitors, we maintain independence by not accepting any compensation from the mortgage lenders we rank. We 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 North Port, FL area in terms of interest rate is Suncoast Credit Union, with an average “Rate Difference” of -0.52%. This means that, comparing similar borrowers, Suncoast Credit Union provided a -0.52% lower interest rate for its customers than other lenders in the area. Suncoast Credit Union has a market share of 2.3%. On the other hand, the most popular lender in the North Port, FL area is Quicken Loans, with a larger market share of 12.6%. However, Quicken Loans also tends to be an expensive lender in the area, with an average “Rate Difference” of +0.13% compared to those of other lenders. We recommend shopping around before going with this popular lender.
Our detailed ranking of mortgage lenders in the North Port, FL 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, the cheapest lender for Conventional mortgages in North Port, FL is Suncoast Credit Union. If you want to take out a loan that is above conforming limits (for example, above $548,250 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 Home Point Financial Corporation. 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 North Port, FL
|Lender Name||Rate Difference||Rate Rating||Market Share|
|Bank of America||-0.03%||16.10%|
|Suncoast Credit Union||-0.01%||0.85%|
|Fifth Third Bank||-0.00%||0.85%|
|Wells Fargo Bank||0.00%||8.47%|
|Home Point Financial Corporation||0.01%||0.85%|
|Guaranteed Rate Affinity||0.01%||0.85%|
|Caliber Home Loans||0.01%||0.85%|
|First Home Bank||0.01%||0.85%|
|Embrace Home Loans||0.01%||0.85%|
|Land Home Financial Services||0.02%||0.85%|
|Cardinal Financial Company||0.04%||0.85%|
|JPMorgan Chase Bank||0.06%||11.02%|
* Data is compiled for the North Port, FL commuting zone area, which comprises of counties of Charlotte County, FL, DeSoto County, FL, Manatee County, FL, and Sarasota County, FL. This includes cities/towns/communities of North Port, FL as well as Bradenton, FL, Port Charlotte, FL, Venice, FL, Sarasota, FL, Fruitville, FL, Punta Gorda, FL, Rotonda, FL, Englewood, FL, Vamo, FL, South Venice, FL, Venice Gardens, FL, Ellenton, FL, Sarasota Springs, FL, Bee Ridge, FL, Lake Sarasota, FL, Memphis, FL, Bayshore Gardens, FL, Harbour Heights, FL, Englewood, FL, Cleveland, FL, Holmes Beach, FL, Southgate, FL, Siesta Key, FL, West Bradenton, FL, Laurel, FL, Whitfield, FL, South Gate Ridge, FL, Gulf Gate Estates, FL, Palmetto, FL, Desoto Lakes, FL, South Bradenton, FL, Charlotte Park, FL, Ridge Wood Heights, FL, Longboat Key, FL, The Meadows, FL, Charlotte Harbor, FL, Cortez, FL, Nokomis, FL, Plantation, FL, Solana, FL, Grove City, FL, Kensington Park, FL, Longboat Key, FL, Arcadia, FL, South Sarasota, FL, Southeast Arcadia, FL, North Sarasota, FL, West Samoset, FL, Samoset, FL, and Warm Mineral Springs, FL. 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 North Port, FL area. For mortgage lender rankings in other cities, click here.