Which mortgage lender in the South Bend, IN 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 South Bend, IN 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 South Bend, IN area in terms of interest rate is INOVA Federal Credit Union, with an average “Rate Difference” of -0.37%. This means that, comparing similar borrowers, INOVA Federal Credit Union provided a -0.37% lower interest rate for its customers than other lenders in the area. INOVA Federal Credit Union has a market share of 1.5%. On the other hand, the most popular lender in the South Bend, IN area is Ruoff Mortgage, with a larger market share of 11.0%. Ruoff Mortgage is an average lender in terms of the interest rate it offers, with a “Rate Difference” of -0.08% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the South Bend, IN 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 South Bend, IN is INOVA Federal Credit Union. 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 1st Source Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is 1st Source Bank. 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 South Bend, IN
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Quicken Loans | -0.06% | 46.61% | |
| Guaranteed Rate | -0.06% | 2.54% | |
| 1st Source Bank | -0.06% | 2.33% | |
| Carrington Mortgage Services | -0.03% | 8.47% | |
| Fifth Third Bank | 0.00% | 0.85% | |
| Caliber Home Loans | 0.01% | 1.69% | |
| PennyMac Loan Services | 0.01% | 1.91% | |
| KeyBank | 0.01% | 0.21% | |
| INOVA Federal Credit Union | 0.01% | 0.21% | |
| Notre Dame Federal Credit Union | 0.01% | 0.64% | |
| TCF Bank | 0.01% | 0.21% | |
| PNC Bank | 0.02% | 0.21% | |
| United Federal Credit Union | 0.02% | 0.21% | |
| Flagstar Bank | 0.02% | 0.64% | |
| Union Home Mortgage | 0.02% | 0.42% | |
| US Bank | 0.03% | 0.42% | |
| Horicon Bank IN | 0.03% | 0.64% | |
| Fairway Independent Mortgage Corporation | 0.03% | 0.42% | |
| CMG Financial | 0.03% | 0.42% | |
| Amerifirst Home Mortgage | 0.04% | 0.64% | |
| Hallmark Home Mortgage | 0.05% | 1.27% | |
| Supreme Lending | 0.05% | 0.64% | |
| New American Funding | 0.05% | 0.85% | |
| Royal United Mortgage | 0.05% | 0.64% | |
| Cardinal Financial Company | 0.05% | 1.48% | |
| Ruoff Mortgage | 0.06% | 5.51% | |
| loanDepot | 0.07% | 4.87% | |
| GVC Mortgage | 0.08% | 1.91% | |
| Freedom Mortgage Corporation | 0.09% | 4.24% | |
| Mr. Cooper | 0.20% | 8.90% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| 1st Source Bank | -0.03% | 26.76% | |
| Interra Credit Union | -0.01% | 2.11% | |
| Old National Bank | -0.01% | 7.75% | |
| Bank of America | -0.00% | 1.41% | |
| Wells Fargo Bank | -0.00% | 6.34% | |
| Huntington National Bank | -0.00% | 2.11% | |
| PNC Bank | 0.00% | 4.93% | |
| KeyBank | 0.00% | 1.41% | |
| Fifth Third Bank | 0.00% | 2.11% | |
| JPMorgan Chase Bank | 0.01% | 7.75% | |
| Lake Michigan Credit Union | 0.01% | 1.41% | |
| Horicon Bank IN | 0.01% | 4.23% | |
| Notre Dame Federal Credit Union | 0.01% | 3.52% | |
| Quicken Loans | 0.01% | 0.70% | |
| US Bank | 0.02% | 2.11% | |
| Guaranteed Rate | 0.02% | 4.23% | |
| Lake City Bank | 0.02% | 0.70% | |
| Ruoff Mortgage | 0.02% | 1.41% | |
| United Federal Credit Union | 0.03% | 5.63% | |
| First Federal Savings Bank of Rochester, IN | 0.03% | 7.75% | |
| Honor Credit Union | 0.04% | 4.23% | |
| Caliber Home Loans | 0.04% | 0.70% | |
| Supreme Lending | 0.04% | 0.70% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| 1st Source Bank | -0.03% | 26.39% | |
| Wells Fargo Bank | -0.01% | 9.72% | |
| Bank of America | -0.01% | 1.39% | |
| Old National Bank | -0.01% | 5.56% | |
| Huntington National Bank | -0.00% | 1.39% | |
| KeyBank | 0.00% | 2.78% | |
| PNC Bank | 0.01% | 4.17% | |
| Horicon Bank IN | 0.01% | 4.17% | |
| United Federal Credit Union | 0.01% | 4.17% | |
| Lake Michigan Credit Union | 0.01% | 1.39% | |
| Honor Credit Union | 0.01% | 2.78% | |
| Fifth Third Bank | 0.01% | 1.39% | |
| JPMorgan Chase Bank | 0.01% | 5.56% | |
| Interra Credit Union | 0.02% | 1.39% | |
| US Bank | 0.02% | 2.78% | |
| Notre Dame Federal Credit Union | 0.02% | 5.56% | |
| Lake City Bank | 0.02% | 1.39% | |
| Guaranteed Rate | 0.02% | 6.94% | |
| First Federal Savings Bank of Rochester, IN | 0.02% | 6.94% | |
| Ruoff Mortgage | 0.02% | 1.39% | |
| Caliber Home Loans | 0.04% | 1.39% | |
| Supreme Lending | 0.04% | 1.39% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| 1st Source Bank | -0.04% | 27.14% | |
| Interra Credit Union | -0.02% | 2.86% | |
| Old National Bank | -0.01% | 10.00% | |
| Huntington National Bank | -0.00% | 2.86% | |
| PNC Bank | -0.00% | 5.71% | |
| Notre Dame Federal Credit Union | -0.00% | 1.43% | |
| Bank of America | -0.00% | 1.43% | |
| Guaranteed Rate | 0.00% | 1.43% | |
| Fifth Third Bank | 0.00% | 2.86% | |
| JPMorgan Chase Bank | 0.00% | 10.00% | |
| Lake Michigan Credit Union | 0.01% | 1.43% | |
| Quicken Loans | 0.01% | 1.43% | |
| Horicon Bank IN | 0.01% | 4.29% | |
| US Bank | 0.01% | 1.43% | |
| Ruoff Mortgage | 0.01% | 1.43% | |
| Wells Fargo Bank | 0.02% | 2.86% | |
| First Federal Savings Bank of Rochester, IN | 0.04% | 8.57% | |
| United Federal Credit Union | 0.04% | 7.14% | |
| Honor Credit Union | 0.05% | 5.71% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Navy Federal Credit Union | -0.17% | 9.28% | |
| USAA | -0.14% | 21.99% | |
| PNC Bank | -0.04% | 1.37% | |
| Guaranteed Rate | 0.00% | 4.12% | |
| Centier Bank | 0.01% | 0.69% | |
| PennyMac Loan Services | 0.02% | 0.34% | |
| US Bank | 0.03% | 0.69% | |
| loanDepot | 0.03% | 1.37% | |
| Wells Fargo Bank | 0.03% | 1.37% | |
| Freedom Mortgage Corporation | 0.03% | 0.69% | |
| New American Funding | 0.03% | 1.03% | |
| INOVA Federal Credit Union | 0.03% | 0.34% | |
| United Federal Credit Union | 0.04% | 0.34% | |
| Independent Bank Michigan | 0.04% | 1.37% | |
| Flagstar Bank | 0.04% | 0.69% | |
| JPMorgan Chase Bank | 0.04% | 0.69% | |
| CMG Financial | 0.04% | 1.72% | |
| Horicon Bank IN | 0.04% | 2.75% | |
| 1st Source Bank | 0.04% | 2.06% | |
| Mr. Cooper | 0.05% | 0.34% | |
| Cardinal Financial Company | 0.05% | 0.69% | |
| Caliber Home Loans | 0.06% | 0.69% | |
| Quicken Loans | 0.06% | 4.47% | |
| Ruoff Mortgage | 0.07% | 14.78% | |
| Supreme Lending | 0.07% | 1.03% | |
| Bank of England AR | 0.07% | 0.34% | |
| GVC Mortgage | 0.07% | 4.12% | |
| Hallmark Home Mortgage | 0.08% | 9.97% | |
| Fairway Independent Mortgage Corporation | 0.09% | 1.37% | |
| Union Home Mortgage | 0.10% | 2.75% | |
| Carrington Mortgage Services | 0.11% | 1.37% | |
| Amerifirst Home Mortgage | 0.19% | 5.15% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| USAA | -0.08% | 6.67% | |
| loanDepot | -0.05% | 14.76% | |
| Navy Federal Credit Union | -0.05% | 3.33% | |
| Ruoff Mortgage | -0.04% | 3.81% | |
| Caliber Home Loans | -0.03% | 2.38% | |
| Guaranteed Rate | -0.02% | 1.90% | |
| Flagstar Bank | -0.02% | 2.38% | |
| PennyMac Loan Services | -0.02% | 3.81% | |
| INOVA Federal Credit Union | -0.02% | 0.95% | |
| Fairway Independent Mortgage Corporation | -0.02% | 0.95% | |
| Hallmark Home Mortgage | -0.01% | 1.90% | |
| GVC Mortgage | -0.01% | 0.48% | |
| Royal United Mortgage | -0.01% | 0.95% | |
| Independent Bank Michigan | -0.01% | 1.43% | |
| New American Funding | -0.00% | 0.48% | |
| Carrington Mortgage Services | -0.00% | 7.14% | |
| Supreme Lending | -0.00% | 0.48% | |
| 1st Source Bank | -0.00% | 0.95% | |
| Cardinal Financial Company | 0.00% | 0.48% | |
| Horicon Bank IN | 0.00% | 1.43% | |
| Fifth Third Bank | 0.00% | 0.95% | |
| Huntington National Bank | 0.01% | 0.48% | |
| CMG Financial | 0.03% | 0.95% | |
| Amerifirst Home Mortgage | 0.03% | 0.48% | |
| Quicken Loans | 0.04% | 31.43% | |
| Freedom Mortgage Corporation | 0.07% | 6.19% | |
| Mr. Cooper | 0.11% | 2.86% |
* Data is compiled for the South Bend, IN commuting zone area, which comprises of counties of Elkhart County, IN, Marshall County, IN, St. Joseph County, IN, Starke County, IN, Berrien County, MI, and Cass County, MI. This includes cities/towns/communities of South Bend, IN as well as Elkhart, IN, Mishawaka, IN, Goshen, IN, Granger, IN, Dowagiac, MI, Middlebury, IN, St. Joseph, MI, Grand Beach, MI, Niles, MI, Nappanee, IN, Osceola, IN, Plymouth, IN, Bristol, IN, Fair Plain, MI, Edwardsburg, MI, Dunlap, IN, Paw Paw Lake, MI, Shorewood-Tower Hills-Harbert, MI, Millersburg, IN, Bass Lake, IN, New Paris, IN, Bridgman, MI, Eau Claire, MI, Berrien Springs, MI, Hamlet, IN, New Carlisle, IN, Buchanan, MI, Argos, IN, Bremen, IN, Vandalia, MI, Watervliet, MI, Simonton Lake, IN, Marcellus, MI, Lakeville, IN, Culver, IN, North Liberty, IN, Stevensville, MI, Lake Michigan Beach, MI, La Paz, IN, Benton Harbor, MI, Bourbon, IN, Koontz Lake, IN, Shoreham, MI, Walkerton, IN, Baroda, MI, North Judson, IN, Knox, IN, Three Oaks, MI, New Troy, MI, and Galien, 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
This page contains information about the top mortgage lenders in the South Bend, IN area. For mortgage lender rankings in other cities, click here.