Top Mortgage Lenders in Farmington, NM

Which mortgage lender in the Farmington, NM 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 Farmington, NM 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 Farmington, NM area in terms of interest rate is Legacy Mortgage, with an average “Rate Difference” of -0.13%. This means that, comparing similar borrowers, Legacy Mortgage provided a -0.13% lower interest rate for its customers than other lenders in the area. Legacy Mortgage has a market share of 5.5%. On the other hand, the most popular lender in the Farmington, NM area is Cornerstone Home Lending, with a larger market share of 22.3%. Cornerstone Home Lending is an average lender in terms of the interest rate it offers, with a “Rate Difference” of -0.05% compared to those of other lenders in this area.

Our detailed ranking of mortgage lenders in the Farmington, NM 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 Farmington, NM is Legacy Mortgage. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Cornerstone Home Lending. The cheapest VA mortgage provider is Legacy Mortgage. 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 Farmington, NM

Mortgage Type:
Purchase/Refinance:
Lender NameRate DifferenceRate RatingMarket Share
Legacy Mortgage-0.13%(4.0)5.54%
Zions Bank-0.10%(4.0)3.83%
Academy Mortgage Corporation Utah-0.07%(4.0)3.63%
Wells Fargo Bank-0.07%(4.0)4.73%
Waterstone Mortgage Corporation-0.06%(4.0)3.52%
Cornerstone Home Lending-0.05%(3.5)22.26%
Stearns Home Loans-0.03%(3.5)4.43%
Quicken Loans-0.01%(3.5)15.41%
Guild Mortgage Company0.00%(3.5)4.43%
Fairway Independent Mortgage Corporation0.01%(3.5)5.24%
AmCap Home Loans0.03%(3.5)10.27%
Mortgage Solutions Financial0.16%(2.5)16.72%
Lender NameRate DifferenceRate RatingMarket Share
Legacy Mortgage-0.13%(4.0)7.99%
Wells Fargo Bank-0.10%(4.0)4.80%
Academy Mortgage Corporation Utah-0.07%(4.0)5.09%
Waterstone Mortgage Corporation-0.06%(4.0)4.65%
Cornerstone Home Lending-0.05%(3.5)29.22%
Stearns Home Loans-0.03%(3.5)4.51%
Zions Bank-0.03%(3.5)2.03%
Quicken Loans-0.02%(3.5)6.83%
Guild Mortgage Company0.00%(3.5)5.09%
AmCap Home Loans0.04%(3.5)11.05%
Fairway Independent Mortgage Corporation0.04%(3.5)5.23%
Mortgage Solutions Financial0.24%(2.5)13.52%
Lender NameRate DifferenceRate RatingMarket Share
Zions Bank-0.14%(4.0)7.87%
Fairway Independent Mortgage Corporation-0.06%(4.0)5.25%
Stearns Home Loans-0.03%(3.5)4.26%
Waterstone Mortgage Corporation-0.01%(3.5)0.98%
Quicken Loans-0.01%(3.5)34.75%
Wells Fargo Bank-0.01%(3.5)4.59%
Academy Mortgage Corporation Utah0.00%(3.5)0.33%
Guild Mortgage Company0.02%(3.5)2.95%
AmCap Home Loans0.03%(3.5)8.52%
Cornerstone Home Lending0.04%(3.5)6.56%
Mortgage Solutions Financial0.06%(3.0)23.93%
Lender NameRate DifferenceRate RatingMarket Share
Legacy Mortgage-0.24%(4.5)4.55%
Waterstone Mortgage Corporation-0.10%(4.0)3.15%
Zions Bank-0.09%(4.0)6.13%
Academy Mortgage Corporation Utah-0.08%(4.0)4.20%
Wells Fargo Bank-0.06%(4.0)7.36%
Stearns Home Loans0.00%(3.5)4.03%
Quicken Loans0.01%(3.5)20.49%
Fairway Independent Mortgage Corporation0.01%(3.5)6.30%
Cornerstone Home Lending0.01%(3.5)18.39%
AmCap Home Loans0.04%(3.5)11.38%
Guild Mortgage Company0.06%(3.0)2.98%
Mortgage Solutions Financial0.15%(2.5)11.03%
Lender NameRate DifferenceRate RatingMarket Share
Legacy Mortgage-0.22%(4.5)7.32%
Waterstone Mortgage Corporation-0.11%(4.0)4.23%
Wells Fargo Bank-0.08%(4.0)8.17%
Academy Mortgage Corporation Utah-0.07%(4.0)6.48%
Zions Bank-0.02%(3.5)3.10%
Quicken Loans-0.01%(3.5)9.86%
Stearns Home Loans0.01%(3.5)3.66%
Cornerstone Home Lending0.02%(3.5)25.35%
AmCap Home Loans0.05%(3.0)12.39%
Fairway Independent Mortgage Corporation0.06%(3.0)5.92%
Guild Mortgage Company0.08%(3.0)3.94%
Mortgage Solutions Financial0.16%(2.5)9.58%
Lender NameRate DifferenceRate RatingMarket Share
Zions Bank-0.14%(4.0)11.11%
Fairway Independent Mortgage Corporation-0.06%(4.0)6.94%
Stearns Home Loans-0.02%(3.5)4.63%
Waterstone Mortgage Corporation-0.01%(3.5)1.39%
Wells Fargo Bank-0.01%(3.5)6.02%
Guild Mortgage Company-0.01%(3.5)1.39%
Quicken Loans-0.00%(3.5)37.96%
Academy Mortgage Corporation Utah0.00%(3.5)0.46%
AmCap Home Loans0.04%(3.5)9.72%
Cornerstone Home Lending0.04%(3.5)6.94%
Mortgage Solutions Financial0.13%(3.0)13.43%
Lender NameRate DifferenceRate RatingMarket Share
Cornerstone Home Lending-0.11%(4.0)34.42%
Stearns Home Loans-0.09%(4.0)5.52%
Academy Mortgage Corporation Utah-0.05%(3.5)2.92%
Guild Mortgage Company-0.05%(3.5)6.17%
Quicken Loans-0.05%(3.5)6.49%
Legacy Mortgage-0.04%(3.5)6.82%
Zions Bank-0.04%(3.5)0.32%
Waterstone Mortgage Corporation-0.01%(3.5)4.22%
AmCap Home Loans0.02%(3.5)9.09%
Fairway Independent Mortgage Corporation0.03%(3.5)3.57%
Mortgage Solutions Financial0.25%(2.5)20.45%
Lender NameRate DifferenceRate RatingMarket Share
Cornerstone Home Lending-0.11%(4.0)38.58%
Stearns Home Loans-0.10%(4.0)5.24%
Guild Mortgage Company-0.06%(4.0)5.99%
Quicken Loans-0.05%(4.0)2.25%
Academy Mortgage Corporation Utah-0.05%(3.5)3.37%
Legacy Mortgage-0.04%(3.5)7.87%
Zions Bank-0.04%(3.5)0.37%
Waterstone Mortgage Corporation-0.01%(3.5)4.87%
AmCap Home Loans0.03%(3.5)9.36%
Fairway Independent Mortgage Corporation0.03%(3.5)4.12%
Mortgage Solutions Financial0.31%(2.0)17.98%
Lender NameRate DifferenceRate RatingMarket Share
Stearns Home Loans-0.06%(4.0)7.32%
Quicken Loans-0.05%(3.5)34.15%
AmCap Home Loans-0.03%(3.5)7.32%
Guild Mortgage Company0.01%(3.5)7.32%
Cornerstone Home Lending0.01%(3.5)7.32%
Mortgage Solutions Financial0.06%(3.0)36.59%
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Lender NameRate DifferenceRate RatingMarket Share
Legacy Mortgage-0.05%(4.0)7.02%
Wells Fargo Bank-0.05%(3.5)4.39%
Waterstone Mortgage Corporation-0.03%(3.5)3.51%
Cornerstone Home Lending-0.01%(3.5)8.77%
Academy Mortgage Corporation Utah-0.01%(3.5)2.63%
Quicken Loans-0.01%(3.5)14.04%
Zions Bank-0.01%(3.5)1.75%
Guild Mortgage Company-0.01%(3.5)7.02%
Fairway Independent Mortgage Corporation-0.00%(3.5)4.39%
Stearns Home Loans0.00%(3.5)3.51%
AmCap Home Loans0.01%(3.5)7.89%
Mortgage Solutions Financial0.03%(3.5)35.09%
Lender NameRate DifferenceRate RatingMarket Share
Wells Fargo Bank-0.06%(4.0)6.06%
Legacy Mortgage-0.06%(4.0)12.12%
Guild Mortgage Company-0.04%(3.5)7.58%
Waterstone Mortgage Corporation-0.03%(3.5)6.06%
Cornerstone Home Lending-0.02%(3.5)12.12%
Quicken Loans-0.02%(3.5)9.09%
Academy Mortgage Corporation Utah-0.02%(3.5)4.55%
Zions Bank-0.02%(3.5)3.03%
Fairway Independent Mortgage Corporation-0.01%(3.5)6.06%
Stearns Home Loans-0.00%(3.5)6.06%
AmCap Home Loans0.01%(3.5)10.61%
Mortgage Solutions Financial0.13%(3.0)16.67%
Lender NameRate DifferenceRate RatingMarket Share
Mortgage Solutions Financial-0.01%(3.5)60.42%
Fairway Independent Mortgage Corporation-0.00%(3.5)2.08%
Wells Fargo Bank-0.00%(3.5)2.08%
AmCap Home Loans0.00%(3.5)4.17%
Quicken Loans0.00%(3.5)20.83%
Cornerstone Home Lending0.01%(3.5)4.17%
Guild Mortgage Company0.05%(3.5)6.25%

* Data is compiled for the Farmington, NM commuting zone area, which comprises of counties of Dolores County, CO, Montezuma County, CO, and San Juan County, NM. This includes cities/towns/communities of Farmington, NM as well as Cortez, CO, Aztec, NM, Lee Acres, NM, Mancos, CO, Dolores, CO, Bloomfield, NM, Lewis, CO, Kirtland, NM, Cedar Hill, NM, Flora Vista, NM, La Plata, NM, West Hammond, NM, Dove Creek, CO, Blanco, NM, Waterflow, NM, Navajo Dam, NM, Sanostee, NM, Shiprock, NM, Towaoc, CO, and Beclabito, NM. 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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