Which mortgage lender in the Boyne City, MI 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 Boyne City, MI 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 Boyne City, MI area in terms of interest rate is TCF Bank, with an average “Rate Difference” of -0.14%. This means that, comparing similar borrowers, TCF Bank provided a -0.14% lower interest rate for its customers than other lenders in the area. TCF Bank has a market share of 20.3%. On the other hand, the most popular lender in the Boyne City, MI area is Quicken Loans, with a larger market share of 24.1%. 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 Boyne City, MI 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 Boyne City, MI is TCF Bank. 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 Huntington National Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is TCF Bank. The cheapest VA mortgage provider is Caliber Home Loans. 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 Boyne City, MI
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| TCF Bank | -0.14% | 20.30% | |
| mBank | -0.07% | 3.88% | |
| Huntington National Bank | -0.03% | 11.15% | |
| PNC Bank | -0.03% | 5.51% | |
| Fifth Third Bank | -0.02% | 5.76% | |
| JPMorgan Chase Bank | -0.01% | 8.52% | |
| Lake Michigan Credit Union | -0.00% | 8.40% | |
| Caliber Home Loans | 0.05% | 8.52% | |
| Amerifirst Home Mortgage | 0.08% | 3.88% | |
| Quicken Loans | 0.13% | 24.06% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| TCF Bank | -0.12% | 23.76% | |
| mBank | -0.07% | 4.44% | |
| JPMorgan Chase Bank | -0.05% | 7.83% | |
| PNC Bank | -0.02% | 5.48% | |
| Huntington National Bank | -0.01% | 6.53% | |
| Lake Michigan Credit Union | 0.01% | 13.32% | |
| Fifth Third Bank | 0.02% | 4.44% | |
| Caliber Home Loans | 0.08% | 11.75% | |
| Quicken Loans | 0.11% | 15.93% | |
| Amerifirst Home Mortgage | 0.11% | 6.53% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| TCF Bank | -0.15% | 17.11% | |
| mBank | -0.06% | 3.37% | |
| Fifth Third Bank | -0.06% | 6.99% | |
| Huntington National Bank | -0.05% | 15.42% | |
| PNC Bank | -0.03% | 5.54% | |
| Lake Michigan Credit Union | -0.03% | 3.86% | |
| JPMorgan Chase Bank | 0.01% | 9.16% | |
| Caliber Home Loans | 0.02% | 5.54% | |
| Amerifirst Home Mortgage | 0.02% | 1.45% | |
| Quicken Loans | 0.13% | 31.57% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| TCF Bank | -0.15% | 21.93% | |
| mBank | -0.06% | 4.75% | |
| PNC Bank | -0.03% | 5.37% | |
| Huntington National Bank | -0.03% | 11.35% | |
| Fifth Third Bank | -0.03% | 6.29% | |
| JPMorgan Chase Bank | -0.01% | 9.66% | |
| Lake Michigan Credit Union | -0.00% | 8.59% | |
| Caliber Home Loans | 0.08% | 6.44% | |
| Amerifirst Home Mortgage | 0.08% | 3.37% | |
| Quicken Loans | 0.16% | 22.24% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| TCF Bank | -0.13% | 26.07% | |
| mBank | -0.06% | 5.61% | |
| JPMorgan Chase Bank | -0.05% | 8.91% | |
| PNC Bank | -0.02% | 5.28% | |
| Huntington National Bank | -0.00% | 6.60% | |
| Fifth Third Bank | 0.02% | 4.62% | |
| Lake Michigan Credit Union | 0.02% | 14.19% | |
| Amerifirst Home Mortgage | 0.11% | 5.61% | |
| Caliber Home Loans | 0.12% | 8.58% | |
| Quicken Loans | 0.15% | 14.52% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| TCF Bank | -0.17% | 18.34% | |
| mBank | -0.06% | 4.01% | |
| Fifth Third Bank | -0.06% | 7.74% | |
| Huntington National Bank | -0.05% | 15.47% | |
| PNC Bank | -0.04% | 5.44% | |
| Lake Michigan Credit Union | -0.04% | 3.72% | |
| JPMorgan Chase Bank | 0.02% | 10.32% | |
| Caliber Home Loans | 0.03% | 4.58% | |
| Amerifirst Home Mortgage | 0.03% | 1.43% | |
| Quicken Loans | 0.16% | 28.94% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| TCF Bank | -0.06% | 6.98% | |
| Lake Michigan Credit Union | -0.04% | 6.98% | |
| Huntington National Bank | -0.04% | 10.47% | |
| PNC Bank | -0.01% | 3.49% | |
| Quicken Loans | -0.00% | 39.53% | |
| Fifth Third Bank | -0.00% | 1.16% | |
| Caliber Home Loans | 0.01% | 22.09% | |
| Amerifirst Home Mortgage | 0.11% | 9.30% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| TCF Bank | -0.07% | 9.26% | |
| Huntington National Bank | -0.05% | 9.26% | |
| Lake Michigan Credit Union | -0.04% | 11.11% | |
| Quicken Loans | -0.02% | 22.22% | |
| PNC Bank | -0.01% | 3.70% | |
| Fifth Third Bank | 0.00% | 1.85% | |
| Caliber Home Loans | 0.02% | 29.63% | |
| Amerifirst Home Mortgage | 0.12% | 12.96% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Huntington National Bank | -0.02% | 12.50% | |
| TCF Bank | -0.01% | 3.12% | |
| Amerifirst Home Mortgage | -0.01% | 3.12% | |
| Quicken Loans | 0.00% | 68.75% | |
| PNC Bank | 0.01% | 3.12% | |
| Caliber Home Loans | 0.02% | 9.38% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Huntington National Bank | -0.03% | 18.18% | |
| PNC Bank | 0.00% | 9.09% | |
| Caliber Home Loans | 0.00% | 6.06% | |
| Fifth Third Bank | 0.00% | 12.12% | |
| JPMorgan Chase Bank | 0.01% | 12.12% | |
| TCF Bank | 0.01% | 30.30% | |
| Quicken Loans | 0.01% | 3.03% | |
| Lake Michigan Credit Union | 0.01% | 9.09% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| TCF Bank | -0.01% | 40.00% | |
| JPMorgan Chase Bank | 0.00% | 13.33% | |
| Caliber Home Loans | 0.00% | 13.33% | |
| Lake Michigan Credit Union | 0.00% | 6.67% | |
| PNC Bank | 0.00% | 13.33% | |
| Fifth Third Bank | 0.02% | 13.33% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Huntington National Bank | -0.03% | 33.33% | |
| Fifth Third Bank | -0.01% | 11.11% | |
| PNC Bank | -0.00% | 5.56% | |
| JPMorgan Chase Bank | 0.01% | 11.11% | |
| Quicken Loans | 0.01% | 5.56% | |
| Lake Michigan Credit Union | 0.02% | 11.11% | |
| TCF Bank | 0.02% | 22.22% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Caliber Home Loans | -0.03% | 18.52% | |
| TCF Bank | -0.03% | 11.11% | |
| Lake Michigan Credit Union | -0.02% | 7.41% | |
| JPMorgan Chase Bank | -0.02% | 3.70% | |
| PNC Bank | -0.01% | 11.11% | |
| Amerifirst Home Mortgage | 0.01% | 3.70% | |
| Quicken Loans | 0.03% | 44.44% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| TCF Bank | -0.03% | 9.09% | |
| Caliber Home Loans | -0.02% | 9.09% | |
| Lake Michigan Credit Union | -0.02% | 9.09% | |
| JPMorgan Chase Bank | -0.02% | 9.09% | |
| PNC Bank | -0.02% | 9.09% | |
| Amerifirst Home Mortgage | 0.00% | 9.09% | |
| Quicken Loans | 0.02% | 45.45% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Caliber Home Loans | -0.03% | 25.00% | |
| TCF Bank | -0.03% | 12.50% | |
| Lake Michigan Credit Union | -0.02% | 6.25% | |
| PNC Bank | -0.01% | 12.50% | |
| Quicken Loans | 0.03% | 43.75% |
* Data is compiled for the Boyne City, MI commuting zone area, which comprises of counties of Charlevoix County, MI, Cheboygan County, MI, and Emmet County, MI. This includes cities/towns/communities of Boyne City, MI as well as Indian River, MI, Petoskey, MI, Cross Village, MI, Bay Shore, MI, Ponshewaing, MI, Harbor Springs, MI, Charlevoix, MI, Bay Shore, MI, East Jordan, MI, Horton Bay, MI, Cheboygan, MI, Pellston, MI, Wolverine, MI, Walloon Lake, MI, Boyne Falls, MI, Mackinaw City, MI, Levering, MI, and St. James, MI. 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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