Which mortgage lender in the Redding, CA 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 Redding, CA 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 Redding, CA area in terms of interest rate is Guild Mortgage Company, with an average “Rate Difference” of -0.20%. This means that, comparing similar borrowers, Guild Mortgage Company provided a -0.20% lower interest rate for its customers than other lenders in the area. Guild Mortgage Company has a market share of 3.0%. On the other hand, the most popular lender in the Redding, CA area is Quicken Loans, with a larger market share of 10.1%. Quicken Loans is an average lender in terms of the interest rate it offers, with a “Rate Difference” of +0.02% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Redding, CA 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 Redding, CA is Guild Mortgage Company. 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 Commerce Home Mortgage. The cheapest VA mortgage provider is Home Point Financial Corporation. 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 Redding, CA
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.04% | 12.66% | |
| US Bank | -0.02% | 20.25% | |
| Summit Funding Inc | -0.00% | 6.33% | |
| Bank of America | -0.00% | 7.59% | |
| Umpqua Bank | 0.00% | 1.27% | |
| JPMorgan Chase Bank | 0.00% | 8.86% | |
| loanDepot | 0.00% | 1.27% | |
| AmeriFirst Financial | 0.01% | 1.27% | |
| American Pacific Mortgage | 0.01% | 2.53% | |
| Midwest Equity Mortgage | 0.01% | 1.27% | |
| Golden 1 Credit Union | 0.01% | 1.27% | |
| Flagstar Bank | 0.01% | 2.53% | |
| Loan Simple | 0.01% | 1.27% | |
| Sierra Pacific Mortgage | 0.01% | 1.27% | |
| PRMG Mortgage | 0.01% | 1.27% | |
| Mechanics Bank CA | 0.01% | 1.27% | |
| Sierra Central Credit Union | 0.01% | 1.27% | |
| Tri Counties Bank | 0.02% | 5.06% | |
| Home Point Financial Corporation | 0.02% | 1.27% | |
| Commerce Home Mortgage | 0.03% | 7.59% | |
| Quicken Loans | 0.03% | 6.33% | |
| Caliber Home Loans | 0.04% | 6.33% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.04% | 18.92% | |
| US Bank | -0.03% | 24.32% | |
| Summit Funding Inc | 0.00% | 8.11% | |
| Bank of America | 0.01% | 10.81% | |
| Umpqua Bank | 0.01% | 2.70% | |
| American Pacific Mortgage | 0.02% | 2.70% | |
| Midwest Equity Mortgage | 0.02% | 2.70% | |
| Sierra Pacific Mortgage | 0.02% | 2.70% | |
| JPMorgan Chase Bank | 0.02% | 8.11% | |
| Flagstar Bank | 0.02% | 2.70% | |
| Commerce Home Mortgage | 0.04% | 8.11% | |
| Caliber Home Loans | 0.05% | 8.11% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.02% | 7.14% | |
| JPMorgan Chase Bank | -0.01% | 9.52% | |
| Bank of America | -0.01% | 4.76% | |
| US Bank | -0.01% | 16.67% | |
| Summit Funding Inc | -0.01% | 4.76% | |
| loanDepot | -0.01% | 2.38% | |
| American Pacific Mortgage | -0.00% | 2.38% | |
| AmeriFirst Financial | -0.00% | 2.38% | |
| Flagstar Bank | -0.00% | 2.38% | |
| Golden 1 Credit Union | -0.00% | 2.38% | |
| Loan Simple | -0.00% | 2.38% | |
| PRMG Mortgage | 0.00% | 2.38% | |
| Mechanics Bank CA | 0.00% | 2.38% | |
| Sierra Central Credit Union | 0.00% | 2.38% | |
| Tri Counties Bank | 0.01% | 9.52% | |
| Home Point Financial Corporation | 0.01% | 2.38% | |
| Commerce Home Mortgage | 0.01% | 7.14% | |
| Caliber Home Loans | 0.02% | 4.76% | |
| Quicken Loans | 0.02% | 11.90% |
* Data is compiled for the Redding, CA commuting zone area, which comprises of counties of Butte County, CA, Colusa County, CA, Glenn County, CA, Shasta County, CA, and Tehama County, CA. This includes cities/towns/communities of Redding, CA as well as Chico, CA, Red Bluff, CA, Shasta Lake, CA, Oroville, CA, Oroville East, CA, Anderson, CA, Lake California, CA, Orland, CA, Cottonwood, CA, Gridley, CA, Magalia, CA, Cohasset, CA, Millville, CA, Nord, CA, Durham, CA, Colusa, CA, Willows, CA, Shingletown, CA, South Oroville, CA, Richfield, CA, Bella Vista, CA, Corning, CA, Paradise, CA, Grimes, CA, Williams, CA, Butte Creek Canyon, CA, Bangor, CA, Robinson Mill, CA, Paynes Creek, CA, Rancho Tehama Reserve, CA, Stirling City, CA, Hat Creek, CA, Richvale, CA, French Gulch, CA, Cherokee, CA, Tehama, CA, Mountain Gate, CA, Fall River Mills, CA, Proberta, CA, Butte Valley, CA, Lakehead, CA, Hamilton City, CA, Princeton, CA, Shasta, CA, and Artois, CA. 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 Redding, CA area. For mortgage lender rankings in other cities, click here.