Top Mortgage Lenders in Marion, IL

Which mortgage lender in the Marion, 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 Marion, 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 Marion, IL area in terms of interest rate is Peoples National Bank, with an average “Rate Difference” of -0.06%. This means that, comparing similar borrowers, Peoples National Bank provided a -0.06% lower interest rate for its customers than other lenders in the area. Peoples National Bank has a market share of 14.3%. On the other hand, the most popular lender in the Marion, IL area is US Bank, with a larger market share of 24.9%. US Bank is also a relatively cheap lender, with a “Rate Difference” of -0.04% compared to those of other lenders in this area.

Our detailed ranking of mortgage lenders in the Marion, 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 Marion, IL is Peoples National Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is US Bank. The cheapest VA mortgage provider is Guaranteed Rate. 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 Marion, IL

Mortgage Type:
Lender NameRate DifferenceRate RatingMarket Share
Peoples National Bank-0.06%(4.0)14.31%
US Bank-0.04%(3.5)24.92%
First Mid Bank & Trust, NA-0.03%(3.5)4.50%
Flagstar Bank0.03%(3.5)4.40%
Regions Bank0.03%(3.5)4.30%
Quicken Loans0.05%(3.5)19.62%
Guaranteed Rate0.10%(3.0)5.81%
New American Funding0.11%(3.0)4.30%
Lender NameRate DifferenceRate RatingMarket Share
First Mid Bank & Trust, NA-0.06%(4.0)3.65%
US Bank-0.06%(4.0)27.96%
Peoples National Bank-0.04%(3.5)16.87%
Regions Bank0.01%(3.5)4.26%
Quicken Loans0.02%(3.5)13.83%
Flagstar Bank0.02%(3.5)3.95%
Guaranteed Rate0.12%(3.0)7.60%
New American Funding0.13%(3.0)5.17%
Lender NameRate DifferenceRate RatingMarket Share
Peoples National Bank-0.14%(4.0)9.38%
US Bank-0.00%(3.5)19.06%
Guaranteed Rate-0.00%(3.5)2.35%
First Mid Bank & Trust, NA0.01%(3.5)6.16%
New American Funding0.02%(3.5)2.64%
Flagstar Bank0.04%(3.5)5.28%
Quicken Loans0.07%(3.0)30.79%
Regions Bank0.07%(3.0)4.40%
Lender NameRate DifferenceRate RatingMarket Share
Peoples National Bank-0.06%(4.0)19.76%
US Bank-0.04%(3.5)30.62%
First Mid Bank & Trust, NA-0.02%(3.5)6.79%
New American Funding0.04%(3.5)1.51%
Flagstar Bank0.05%(3.5)3.47%
Regions Bank0.06%(3.0)4.52%
Guaranteed Rate0.09%(3.0)2.11%
Quicken Loans0.16%(2.5)11.16%
Lender NameRate DifferenceRate RatingMarket Share
US Bank-0.05%(3.5)33.41%
First Mid Bank & Trust, NA-0.04%(3.5)5.69%
Peoples National Bank-0.02%(3.5)23.70%
Flagstar Bank0.04%(3.5)2.61%
Regions Bank0.05%(3.0)3.79%
New American Funding0.07%(3.0)1.42%
Quicken Loans0.11%(3.0)7.35%
Guaranteed Rate0.11%(3.0)2.84%
Lender NameRate DifferenceRate RatingMarket Share
Peoples National Bank-0.15%(4.0)12.86%
New American Funding-0.01%(3.5)1.66%
US Bank-0.01%(3.5)25.73%
First Mid Bank & Trust, NA0.00%(3.5)8.71%
Guaranteed Rate0.02%(3.5)0.83%
Flagstar Bank0.04%(3.5)4.98%
Regions Bank0.07%(3.0)5.81%
Quicken Loans0.18%(2.5)17.84%
Lender NameRate DifferenceRate RatingMarket Share
US Bank-0.10%(4.0)13.27%
Peoples National Bank-0.06%(4.0)5.31%
Regions Bank-0.06%(4.0)3.10%
Quicken Loans-0.04%(3.5)42.48%
Flagstar Bank0.01%(3.5)5.31%
Guaranteed Rate0.13%(3.0)15.04%
New American Funding0.14%(3.0)11.50%
Lender NameRate DifferenceRate RatingMarket Share
US Bank-0.11%(4.0)16.87%
Peoples National Bank-0.07%(4.0)6.63%
Regions Bank-0.07%(4.0)4.22%
Quicken Loans-0.05%(4.0)30.72%
Flagstar Bank-0.01%(3.5)6.02%
Guaranteed Rate0.13%(3.0)18.67%
New American Funding0.14%(3.0)14.46%
Lender NameRate DifferenceRate RatingMarket Share
Quicken Loans-0.01%(3.5)75.00%
US Bank0.02%(3.5)3.33%
Peoples National Bank0.02%(3.5)1.67%
Guaranteed Rate0.03%(3.5)5.00%
Flagstar Bank0.05%(3.0)3.33%
New American Funding0.07%(3.0)3.33%
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Lender NameRate DifferenceRate RatingMarket Share
Guaranteed Rate-0.03%(3.5)9.09%
Regions Bank-0.01%(3.5)5.45%
Flagstar Bank-0.01%(3.5)8.18%
Quicken Loans-0.01%(3.5)23.64%
New American Funding0.01%(3.5)6.36%
US Bank0.03%(3.5)14.55%
Lender NameRate DifferenceRate RatingMarket Share
Flagstar Bank-0.03%(3.5)7.14%
Quicken Loans-0.03%(3.5)12.86%
Guaranteed Rate-0.02%(3.5)10.00%
Regions Bank-0.02%(3.5)7.14%
New American Funding0.02%(3.5)5.71%
US Bank0.03%(3.5)21.43%
Lender NameRate DifferenceRate RatingMarket Share
Guaranteed Rate-0.05%(3.5)7.50%
US Bank0.00%(3.5)2.50%
New American Funding0.01%(3.5)7.50%
Quicken Loans0.01%(3.5)42.50%
Flagstar Bank0.01%(3.5)10.00%
Regions Bank0.03%(3.5)2.50%

* Data is compiled for the Marion, IL commuting zone area, which comprises of counties of Alexander County, IL, Franklin County, IL, Jackson County, IL, Johnson County, IL, Perry County, IL, Pulaski County, IL, Randolph County, IL, Union County, IL, and Williamson County, IL. This includes cities/towns/communities of Marion, IL as well as Herrin, IL, Murphysboro, IL, Carterville, IL, West Frankfort, IL, Benton, IL, Pittsburg, IL, Vienna, IL, Red Bud, IL, Whiteash, IL, Chester, IL, Cambria, IL, Sparta, IL, St. Johns, IL, Carbondale, IL, Johnston City, IL, Harrison, IL, Anna, IL, Hurst, IL, West City, IL, Cobden, IL, Evansville, IL, Pinckneyville, IL, Makanda, IL, Valier, IL, Du Quoin, IL, Thompsonville, IL, Buncombe, IL, Elkville, IL, Sesser, IL, Zeigler, IL, Rockwood, IL, Dongola, IL, Ava, IL, Percy, IL, Tilden, IL, Cypress, IL, Tamaroa, IL, Christopher, IL, Alto Pass, IL, Coulterville, IL, Mound City, IL, Jonesboro, IL, Olive Branch, IL, Tamms, IL, Willisville, IL, Grand Tower, IL, Mounds, IL, and Cairo, 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.

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